If no one spends bitcoin what might happen? - page 68.

danherbias07

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Quote from: randy8777 on July 16, 2016, 11:29:14 AM

right now already there is a very small percentage of people who are actually spending their coins. and the price keeps going up. that's regarding people spending their coins in online stores. when it comes to gambling, bitcoin gets a much better and wide spread adoption as far as spending coins goes. i think at least 50% of all current transactions are gambling related. one way or the other, coins do get spent.

I guess the right should be transacting. If no one is transacring anything and just keeping it. We know that everyday there is a large percentage here that keeps on moving their coins from wallet to wallet or payment to some services.

If no one does that what do you think can happen.

Doamader

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Quote from: angaper on July 16, 2016, 10:41:23 PM

I think it would not be necessarily a bad thing for bitcoin, because it would involve that people is really interested in keep btc as a store of value, and this lack of available coins might be reflected on a consistent price increase.

The total coins into circulation are just few, soo we know for sure that even with people making the transactions around bitcoin or not the price will reflect always the interest into bitcoin. Bitcoin is different other currencies were demand and supply works with some news.

angaper

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I think it would not be necessarily a bad thing for bitcoin, because it would involve that people is really interested in keep btc as a store of value, and this lack of available coins might be reflected on a consistent price increase.

martinacar

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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

The price of bitcoin will be volatile either way. It's not just transaction from us consumers which are needed.
Just the whales are enough.

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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

Cresciuanto

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Quote from: White sugar on July 16, 2016, 02:16:33 PM

If there is no transfer of Bitcoin there will be no price, because the price is defined as the price of something that is bought or sold.

So there would be no markets or exchanges.

Just hodlers hodling something that is beyond zero value, because there is no definition of value for something that isn't even traded

holding and holding and not selling mean that some one has some thing with special value. which one is not welling to sell. on other side the other will desire to buy it at any price. so the demand will increase and the value wil automatically goes up.

smho_16

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Quote from: White sugar on July 16, 2016, 02:16:33 PM

If there is no transfer of Bitcoin there will be no price, because the price is defined as the price of something that is bought or sold.

So there would be no markets or exchanges.

Just hodlers hodling something that is beyond zero value, because there is no definition of value for something that isn't even traded

This will never happen. I was just browsing with Tor browser the deep web now and a lot of new market places have erupt there and I see many ongoing transactions. They use bitcoin as their main currency which is good for bitcoin and assure us that the problem we have raised in this thread will never really be a problem unless FBI takes down the whole dark net which is not likely.

White sugar

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If there is no transfer of Bitcoin there will be no price, because the price is defined as the price of something that is bought or sold.

So there would be no markets or exchanges.

Just hodlers hodling something that is beyond zero value, because there is no definition of value for something that isn't even traded

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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..

But the demand is not set only by people using/spending Bitcoin, it is also set by people wanting to hold Bitcoin.
So even if no one spends their coins that does not mean no demand, people will still want to buy and that will reinforce demand.

socks435

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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..

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Quote from: btcdevil on July 16, 2016, 11:47:09 AM

The price will go down if their is no spending, but that is not possible as most of them are using bitcoin for online gambling and adult sites, so this option will not be their whether price is going down or up.

if no one will spend or sell their coins the price will be pumped up and not go down because people would buy coins and push the price up i think, though thats just my guess

Maesters1-

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Quote from: btcdevil on July 16, 2016, 11:47:09 AM

The price will go down if their is no spending, but that is not possible as most of them are using bitcoin for online gambling and adult sites, so this option will not be their whether price is going down or up.

no i am not agree with you. i think you have taken it wrongly. i think the price of bitcoin will increase if no one is going to use bitcoin. because it will mean that they holding it for the price increase. and there will be shortage of bitcoin and every one will be ready to buy it any any cost.

btcdevil

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The price will go down if their is no spending, but that is not possible as most of them are using bitcoin for online gambling and adult sites, so this option will not be their whether price is going down or up.

randy8777

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right now already there is a very small percentage of people who are actually spending their coins. and the price keeps going up. that's regarding people spending their coins in online stores. when it comes to gambling, bitcoin gets a much better and wide spread adoption as far as spending coins goes. i think at least 50% of all current transactions are gambling related. one way or the other, coins do get spent.

ABCbits

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Just imagine most altcoin condition and you got your answer Roll Eyes

In short, bitcoin price will be played by investor and early adopter, then they left it when it's not profitable anymore.

DashTron

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If noone spends a coin, what would it be good for then?
And who would want to have something that nobody uses?
That would draw the price of bitcoin to zero.

fortunecrypto

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I don't see it going down if anyone will not spend their bitcoin but I doubt if their will be no transaction for at least one day,many gambling sites are using bitcoin so are the hyip's and many people are very much hooked on gambling and hyip..

Yutikas_11920

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Quote from: Omegasun on July 16, 2016, 12:55:42 AM

of course it will collapse. hahaha.the volume if btc will inflate because miners is still on going and the price will decrease because too many supply. its simply the rule of supply and demand in ecomics

Right, because the law of the world economy using the formula uniques would be expensive and goods that have a lot of supply is going to be cheap. Bitcoin may also be bound in such laws.

Leonard2016

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Quote from: Chuzzlewit on July 15, 2016, 10:40:58 PM

Quote from: European Central Bank on July 14, 2016, 07:13:25 AM

what proportion of bitcoin is actually spent? i'm gonna guess that it's not very much. using it for shopping and all is cool but i think it's a little bit of a sideshow. most of the action is trading it and speculating.

the bigger question is if no one speculates on bitcoin what might happen?

I think this is the closet to reality.
Very few people spends bitcoin outside of the BTC world TODAY.
I have yet to replace any FIAT transaction with BTC.

i don't know, you may be right about this but i have always tried and actually prefered to spend bitcoin instead of fiat anywhere i can.

for example as soon as steam added bitcoin payment to their system i started using it instead of using any other method and have already spent around $100 there Cheesy

FLoving

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I think if no one will use bitcoin then there will be no any bitcoin in the market and with that none of the business will feel that they will get the clients with bitcoin so they will also leave bitcoin and so bitcoin will go to the destruction, I will say we have to use bitcoin as a normal currency for our needs.

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