If no one spends bitcoin what might happen? - page 67.

BitcoinPC

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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.

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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.

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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.

thats true though people will always use it for spending in my opinion because it is anonymous, i think it helps to attract more people to bitcoins

Maesters1-

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Quote from: umaOuma on July 23, 2016, 09:53:54 AM

Quote from: drwtsn32 on July 23, 2016, 09:30:24 AM

I just can't imagine something like everyone is not spending bitcoins.
Instead everyone is hoarding it.
I guess that won't happen because if no one's spending then the coins will not circulate then no one's gonna be able to hoard.

Yeah and that is not possible that no one will spend their coins as we very well know that majority of users are spending their coins on gambling which is helping the circulation of coins.

sorry but i think that can be possible. there are two conditions one is that people are not using bitcoin because they want to hold it. then its ok the price will increase. but if the people do not have any interest then it is an alarming situation then the price will fell down .

crairezx20

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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..

mark coins

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Quote from: Jimbola3 on July 23, 2016, 10:15:00 AM

Quote from: drwtsn32 on July 23, 2016, 09:30:24 AM

I just can't imagine something like everyone is not spending bitcoins.
Instead everyone is hoarding it.
I guess that won't happen because if no one's spending then the coins will not circulate then no one's gonna be able to hoard.

yeah seriously. it would have been a serious matter for bitcoin economy as if no one is to spend it then its for sure that the bitcoin is to stuck in one point or no moment of ticker in the stock !

It will never happen there are many users who spend their coins regularly, either they spend or sell it to their local currency and I am one of them.

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

Jimbola3

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Quote from: drwtsn32 on July 23, 2016, 09:30:24 AM

I just can't imagine something like everyone is not spending bitcoins.
Instead everyone is hoarding it.
I guess that won't happen because if no one's spending then the coins will not circulate then no one's gonna be able to hoard.

yeah seriously. it would have been a serious matter for bitcoin economy as if no one is to spend it then its for sure that the bitcoin is to stuck in one point or no moment of ticker in the stock !

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"If people don't spend, the economy doesn't grow."

Do we need to say more, economy is more stronger with more usage, that is a fact! Bitcoin will grow more cause more people will use it, there will be always savers but economy is based on consummation. So people should use coins more and more, on trading, gambling, on buying things with btc even more. Cause tomorrow people will get their salaries in bitcoins, they will spend that coins on other bitcoin place, and that is how we grow.

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Quote from: drwtsn32 on July 23, 2016, 09:30:24 AM

I just can't imagine something like everyone is not spending bitcoins.
Instead everyone is hoarding it.
I guess that won't happen because if no one's spending then the coins will not circulate then no one's gonna be able to hoard.

Yeah and that is not possible that no one will spend their coins as we very well know that majority of users are spending their coins on gambling which is helping the circulation of coins.

drwtsn32

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I just can't imagine something like everyone is not spending bitcoins.
Instead everyone is hoarding it.
I guess that won't happen because if no one's spending then the coins will not circulate then no one's gonna be able to hoard.

ASHLIUSZ

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Quote from: [email protected] on July 23, 2016, 02:15:24 AM

If no one will use bitcoin , this mean no one will buy bitcoins too. These will cause bitcoin price to go down and down. Alternative coins will be implicated. But it is impossible that no one will use bitcoin unless the internet in the whole world is gone, Bitcoin will be trash if that happen

If no one spends bitcoin the popularity reduces and sure it will vanish. This will never happen because we can see 80% of bitcoiners across the world are spending bitcoin. As days passes the percentage increases and never decreases.

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If no one will use bitcoin , this mean no one will buy bitcoins too. These will cause bitcoin price to go down and down. Alternative coins will be implicated. But it is impossible that no one will use bitcoin unless the internet in the whole world is gone, Bitcoin will be trash if that happen

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Quote from: danherbias07 on July 17, 2016, 08:27:47 AM

Quote from: davis196 on July 17, 2016, 02:54:27 AM

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

This is practically impossible.There always will be people who spend bitcoins.

The more people spend and use a currency,the more expensive that currency is.

Yes,the demand is important part of the growth of the economy.

That is why there is an if. Impossible or not we dont know what will happen. Do you know that bitcoin will not move after halving? Many og us expected a big rise but nothing happened. That is what the "if" word is for.

Using the word "if" in a sentence means its assuming something and no one says it would happen it would be the same as speculation. If bitcoin would not be spend by anybody even we know thats an impossible thing, bitcoins price wouldnt grow since theres no demand on it that make the price put up in a stable state if bitcoin users to hold all their coins.

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Quote from: QuestionAuthority on July 17, 2016, 12:54:27 PM

Quote from: hase0278 on July 16, 2016, 12:48:48 AM

Quote from: QuestionAuthority on July 15, 2016, 10:40:36 PM

Nothing would happen. As far as I can tell no one spends it now. Everyone is just holding for a price increase.

Well man I think I would have to disagree with you since not all bitcoiners hold their bitcoins now some convert it to fiat and some use it to buy some things on deepweb as I am talking. Well if no one will really spend bitcoin there there wouldn't be a price increase or decrease I think since it is a free market and it depends on buy and sell orders of those who want to buy and those who want to sell.

As far as I can tell very few actual purchases are made with Bitcoin. I'm sure drugs and other deep web stuff is still purchased with Bitcoin but most of the price movement is speculation and trading.

Look at the addresses for the major exchanges and you'll see a lot of day traders are shifting the coins around that make it seem like there is an actual Bitcoin economy when there isn't one.

Yes. Like the one at blockchain? Its all transactions right? Like just passing bitcoin wallet to wallet and some are payment for services. Is that thing also affect it? I mean every transaction made will affect the economy right? As long as there is this transaction number.

QuestionAuthority

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Quote from: hase0278 on July 16, 2016, 12:48:48 AM

Quote from: QuestionAuthority on July 15, 2016, 10:40:36 PM

Nothing would happen. As far as I can tell no one spends it now. Everyone is just holding for a price increase.

Well man I think I would have to disagree with you since not all bitcoiners hold their bitcoins now some convert it to fiat and some use it to buy some things on deepweb as I am talking. Well if no one will really spend bitcoin there there wouldn't be a price increase or decrease I think since it is a free market and it depends on buy and sell orders of those who want to buy and those who want to sell.

As far as I can tell very few actual purchases are made with Bitcoin. I'm sure drugs and other deep web stuff is still purchased with Bitcoin but most of the price movement is speculation and trading.

Look at the addresses for the major exchanges and you'll see a lot of day traders are shifting the coins around that make it seem like there is an actual Bitcoin economy when there isn't one.

danherbias07

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Quote from: davis196 on July 17, 2016, 02:54:27 AM

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

This is practically impossible.There always will be people who spend bitcoins.

The more people spend and use a currency,the more expensive that currency is.

Yes,the demand is important part of the growth of the economy.

That is why there is an if. Impossible or not we dont know what will happen. Do you know that bitcoin will not move after halving? Many og us expected a big rise but nothing happened. That is what the "if" word is for.

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Quote from: pearnapple on July 16, 2016, 04:14:10 PM

Quote from: socks435 on July 16, 2016, 01:03:40 PM

If no one spends bitcoin and no one buy it but many people are mining it expect for price decreases gradually because the supply is increasing daily..
And more supply will come..
The price of bitcoin is always depends in demand and supply.. if bitcoin is in demand expect for price of bitcoin to increase high..

yeah, the price would most probably be going down because people would just hold and not do anything with their bitcoins, that would be really bad in my opinion

I also think the price might decrease because if there is no bitcoin trading then the price won't increase. On the other hand if the people buy bitcoins more and more and just keep on holding them then it will be really bad for the market as it will negatively effect bitcoin market ! so we should use / spend bitcoin as much as we need rather holding !

davis196

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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

This is practically impossible.There always will be people who spend bitcoins.

The more people spend and use a currency,the more expensive that currency is.

Yes,the demand is important part of the growth of the economy.

Sniper44

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people spending bitcoin is one of the biggest things that is keeping bitcoin as big as it is right now. because so far bitcoin is two things:
- a currency that you can spend to buy stuff easily and securely.
- an investment that you can make if you are a good speculator to make a lot of money.
so losing one of these aspects will not kill bitcoin but it will hurt it a lot.

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