If no one spends bitcoin what might happen? - page 66.

Achargeturry78

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Quote from: danherbias07 on July 14, 2016, 05:11:51 AM

Share your ideas here. Grin

In my opinion, I think we will be stuck in one price or maybe worse we will all go down.

Here is what happened when US citizens are saving too much.

Quote

That's important because American spenders make up the majority -- about 70% -- of economic activity in the country. If people don't spend, the economy doesn't grow.

Check it out here

yes, definitely your right. because if no one uses bitcoin, maybe the price will drop and maybe our bitcoins will never gonna payed back or no one would ever like to trade for a money or what you need. if the supply is low,the price will high. when the supply is high, definitely, the price is low. everyones gonna quit and no more bitcoins.

goinmerry

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Quote from: dihari on August 01, 2016, 10:29:43 PM

the price will be stuck, but i think the stable price happen.
it will be a trouble if everyone start to sell and no one buy it.

Yeah that will create chaos for there are a lot of bitcoins in stock and no more demands. I cant imagine that happening it will loss a lot of supporters.

overthetop2011

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There are always ppl who spending btc ,maybe we just don't see that happening, and I believe that would become more and more popular.

One big use case of btc is for the IPOs/ ICOs , that is really a better solution than Fiats.

groll

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Quote from: fkvidar on July 24, 2016, 11:42:28 AM

Quote from: groll on July 24, 2016, 10:04:58 AM

This is an impossible thing to happen. The moment bitcoin becomes a currency that is the time that it started to become dynamic and constantly moving through constant bitcoin transactions.

If in case there will be no movement it implies that bitcoin had stopped as a currency and no ones gonna make some transaction.

And if there is no price movement then then will be no profits too, and if people are not able to make profits then they will surely stop using it.

Yes any cryptocurrency with no value at all are going to stay as a digital number only or a digital hash. Since the only thing that gives value or life to a certain coins are the corresponding market value or price. Without the price it just simply imply that bitcoin is just for display and cannot be considered a currency since it has no buying power.

dihari

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the price will be stuck, but i think the stable price happen.
it will be a trouble if everyone start to sell and no one buy it.

Sorrowfox

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Quote from: danherbias07 on July 14, 2016, 05:11:51 AM

Share your ideas here. Grin

In my opinion, I think we will be stuck in one price or maybe worse we will all go down.

Here is what happened when US citizens are saving too much.

Quote

That's important because American spenders make up the majority -- about 70% -- of economic activity in the country. If people don't spend, the economy doesn't grow.

Check it out here

If no one will spend bitcoins, there will be no demand and as the law of economic says, the greater the demand over supply will lead to price increase. If there will be no one who will spend the bitcoins it means no one will buy bitcoins and if there will be a lot of people selling the bitcoins, for sure it will lead to a price drop.

carlfebz2

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Quote from: madwica on August 01, 2016, 09:18:51 PM

Quote from: danherbias07 on August 01, 2016, 08:21:23 PM

Quote from: BicolIsarog on July 28, 2016, 08:55:08 AM

Just always remember the Law of Supply & Demand

, when fewer bitcoins are available the ones that are left will be in higher demand, and therefore will have a higher value. So, as Bitcoins are lost, the remaining bitcoins will eventually increase in value to compensate. As the value of a bitcoin increases, the number of bitcoins required to purchase an item decreases.

There is a law like that? Well then thank you for that. I am still looking for some answers with what could happen and I think you hit the spot.

I think all people are know about the law of supply and demand, if no one spend bitcoin i think the demand going to high but the supply is decreasing because not all mining farm is fast to mine bitcoin then it is good for the user who hoard a lot of bitcoin because the value is going to high if that will happen.

Yes its all about the supply and demand law. If no ones uses or spending bitcoin in future the price of bitcoin would gradually increase since the demand is there and the supply decreases since others also said that miners isnt fast enough to cope up the demand thats why the supply is scarce and that thing would rose the price of bitcoin.

madwica

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Quote from: danherbias07 on August 01, 2016, 08:21:23 PM

Quote from: BicolIsarog on July 28, 2016, 08:55:08 AM

Just always remember the Law of Supply & Demand

, when fewer bitcoins are available the ones that are left will be in higher demand, and therefore will have a higher value. So, as Bitcoins are lost, the remaining bitcoins will eventually increase in value to compensate. As the value of a bitcoin increases, the number of bitcoins required to purchase an item decreases.

There is a law like that? Well then thank you for that. I am still looking for some answers with what could happen and I think you hit the spot.

I think all people are know about the law of supply and demand, if no one spend bitcoin i think the demand going to high but the supply is decreasing because not all mining farm is fast to mine bitcoin then it is good for the user who hoard a lot of bitcoin because the value is going to high if that will happen.

danherbias07

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Quote from: BicolIsarog on July 28, 2016, 08:55:08 AM

Just always remember the Law of Supply & Demand

, when fewer bitcoins are available the ones that are left will be in higher demand, and therefore will have a higher value. So, as Bitcoins are lost, the remaining bitcoins will eventually increase in value to compensate. As the value of a bitcoin increases, the number of bitcoins required to purchase an item decreases.

There is a law like that? Well then thank you for that. I am still looking for some answers with what could happen and I think you hit the spot.

BicolIsarog

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Just always remember the Law of Supply & Demand

, when fewer bitcoins are available the ones that are left will be in higher demand, and therefore will have a higher value. So, as Bitcoins are lost, the remaining bitcoins will eventually increase in value to compensate. As the value of a bitcoin increases, the number of bitcoins required to purchase an item decreases.

U2

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I used to be indecisive, but now I'm not sure...

There's no way "No one" would spend their bitcoins. At some point you'll need to transfer them to another wallet, spend them or break up your bitcoins in some way. All of these involve a fee to the miners so essentially they're the same.

danherbias07

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Quote from: Hirose UK on July 24, 2016, 05:52:46 AM

Quote from: Barnabe on July 14, 2016, 05:14:32 AM

Well some people will always spend money, if a big proportion of people don't use it, its price will increase until it reaches an equilibrium point.

yeah. I fail to see why those people keep their money while they have daily needs to fullfil. it's just like bitcoin. some people maybe collecting bitcoin to fullfil their needs. even if they wait to collect many bitcoins, they will still sell them IMO, even bitcoin would be accepted at all.

so if most of people don't spend their coins, I think the price will be high because no demands. cmiiw.

That is new. Everyone says demands will be the one key to make bitcoin price higher. So could you please enlighten us with this kind of thinking?

serjent05

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Quote from: talkbitcoin on July 24, 2016, 06:25:49 AM

this can never happen because the first thing that defines bitcoin is being a currency then it is an investment. granted people are using bitcoin more as an investment rather than a currency but if it weren't a currency the value couldn't be this high.

besides there is no reason why people not wanting to spend bitcoin, because bitcoin is so good as a currency.

The author is just citing a scenario if no one spends bitcoin, what is the possible effect, impossible or not is out of the context.

At the question, I think at first if no one will sell bitcoin, the appreciation value of bitcoin will increase until such time interest of people buying bitcoin faded. When this scenario happen, buy support will be taken off the exchange resulting in dramatical fall in price. Investors always want their goods on the move, idleness means no profit for them. So it is possible that bitcoin will be worthless once no one spend it. Or no change in hand occur.

fkvidar

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Quote from: groll on July 24, 2016, 10:04:58 AM

This is an impossible thing to happen. The moment bitcoin becomes a currency that is the time that it started to become dynamic and constantly moving through constant bitcoin transactions.

If in case there will be no movement it implies that bitcoin had stopped as a currency and no ones gonna make some transaction.

And if there is no price movement then then will be no profits too, and if people are not able to make profits then they will surely stop using it.

takingthis4

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well that would be a tragic thing then in my opinion because the price of the bitcoin would really go down as a lot of people woould be just selling it

groll

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This is an impossible thing to happen. The moment bitcoin becomes a currency that is the time that it started to become dynamic and constantly moving through constant bitcoin transactions.

If in case there will be no movement it implies that bitcoin had stopped as a currency and no ones gonna make some transaction.

talkbitcoin

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All I know is that I know nothing.

this can never happen because the first thing that defines bitcoin is being a currency then it is an investment. granted people are using bitcoin more as an investment rather than a currency but if it weren't a currency the value couldn't be this high.

besides there is no reason why people not wanting to spend bitcoin, because bitcoin is so good as a currency.

Hirose UK

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Quote from: Barnabe on July 14, 2016, 05:14:32 AM

Well some people will always spend money, if a big proportion of people don't use it, its price will increase until it reaches an equilibrium point.

yeah. I fail to see why those people keep their money while they have daily needs to fullfil. it's just like bitcoin. some people maybe collecting bitcoin to fullfil their needs. even if they wait to collect many bitcoins, they will still sell them IMO, even bitcoin would be accepted at all.

so if most of people don't spend their coins, I think the price will be high because no demands. cmiiw.

bitcoinlover1

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Quote from: goinmerry on July 24, 2016, 02:09:46 AM

Quote from: BitcoinPC on July 24, 2016, 01:04:34 AM

Quote from: phreaky on July 23, 2016, 01:33:11 PM

Quote from: crairezx20 on July 23, 2016, 11:35:40 AM

Quote from: Pencila on July 23, 2016, 10:38:59 AM

If no one spends bitcoin, that means the bitcoin is useless. That is similar to other scam coins. Bitcoin will die.

It will not happen anymore if you dont spend bitcoin i think the price is gradually decreases instead of increasing..
And the price of bitcoin is always depends in demand and supply..

It can happen but it's not very likely. No transactions means the network will come to a hold, which is devastating for bitcoin.
But there are too many people using bitcoin, so don't be afraid my child.

You are Right, because now bitcoin is achieving the top place, and we can see most of the crptocurrencies are here and some crpto currencies come and down and die, but bitcoin is still alive, so i think it is a proof that bitcoin will be remain in future. Also a huge number of the peoples are using it in investment or trading, So its mean people like it than they are use it, so it has been cleared bitcoin never die.

I am sure that is also a usage. When people buy or sell that is already a transaction. So it is like also spending it specially when we do trade it to altcoin currency. A lot of people are also gambling and that is spending too.

Yes ofcourse buy something with bitcoin is a usage of bitcoin you are sending bitcoin to an address and gambling andtrading also you have to do the bitcoin transaction so all this is a usafe of bitcoin.

goinmerry

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Quote from: BitcoinPC on July 24, 2016, 01:04:34 AM

Quote from: phreaky on July 23, 2016, 01:33:11 PM

Quote from: crairezx20 on July 23, 2016, 11:35:40 AM

Quote from: Pencila on July 23, 2016, 10:38:59 AM

If no one spends bitcoin, that means the bitcoin is useless. That is similar to other scam coins. Bitcoin will die.

It will not happen anymore if you dont spend bitcoin i think the price is gradually decreases instead of increasing..
And the price of bitcoin is always depends in demand and supply..

It can happen but it's not very likely. No transactions means the network will come to a hold, which is devastating for bitcoin.
But there are too many people using bitcoin, so don't be afraid my child.

You are Right, because now bitcoin is achieving the top place, and we can see most of the crptocurrencies are here and some crpto currencies come and down and die, but bitcoin is still alive, so i think it is a proof that bitcoin will be remain in future. Also a huge number of the peoples are using it in investment or trading, So its mean people like it than they are use it, so it has been cleared bitcoin never die.

I am sure that is also a usage. When people buy or sell that is already a transaction. So it is like also spending it specially when we do trade it to altcoin currency. A lot of people are also gambling and that is spending too.

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