If people stop buying bitcoin - page 67.

nkarm1

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Quote from: shamzblueworld on October 31, 2017, 11:05:50 AM

What will happen if people just stop buying bitcoin? Will bitcoin be as usable as now Or will it be a step towards the end?

How will the market value react to it, people wanting to sell bitcoin but there is no one to buy.

If people stop buying bitcoin, price will fall for sure because of the oversupply in the market. With the oversupply, sellers will be selling their bitcoin to the lowest price that every rare costumers wants. But talking about the usability, bitcoin will be more usable if the price is low because the fee would be lower in price value also. Bitcoin will be availabe again for small value payments.
But even though it would be more usable, people wouldn't want their funds to sink lower and lower so they will find another alternative that would make bitcoin die.

romecheo

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Ok let's assume, people are stop buying Bitcoin, the result would be catastrophic.

Because the only time that people are going to halt from eagerly earning Bitcoin, in my own opinion was follows:

1. Earth doomsday
2. People are no longer exist
3. All internet connection or all mean of connection has been shut down

Bitcoin and BlockChain are going to continue for the next generation of mankind.

yohananaomi

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Quote from: shamzblueworld on October 31, 2017, 11:05:50 AM

What will happen if people just stop buying bitcoin? Will bitcoin be as usable as now Or will it be a step towards the end?

How will the market value react to it, people wanting to sell bitcoin but there is no one to buy.

could it happen? I still can not believe it, because many have a share with this bitcoin.
but if it does happen, maybe there's a replacement coming first.

JRoa

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Quote from: shamzblueworld on October 31, 2017, 11:05:50 AM

What will happen if people just stop buying bitcoin? Will bitcoin be as usable as now Or will it be a step towards the end?

How will the market value react to it, people wanting to sell bitcoin but there is no one to buy.

I think it will not happen. People will not stop buying bitcoins because they know that buying bitcoins can maje profit in the future. The reason why the bitcoin becoming more popular is because of the value that is rapidly increasing.

Ilegendph

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Quote from: Aba on October 31, 2017, 08:16:12 PM

If people stop buy bitcoin then bitcoin becomes worthless and nobody else invests in bitcoin. Currently an event like this has actually happened to some failing cyrtocurrency, there is no demands for cryptocurrency, so that make such cryptocurrency worthless.

Actually, it could happen that bitcoin may lose its value and the reasons maybe are:

1. New technology - there is new technology that surpass bitcoins characteristics and advantages
2. Ban on bitcoin - if the majority of the governments of the world bans bitcoin in their respective nations
3. Internet shutdown - since bitcoin is based on the internet

I thinks this things might be the reasons but I believe that bitcoin would last long as I see it in the market and other technologies cannot surpass what bitcoin did and solved.

davenjulio

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People will only stop buying bitcoins if you will going to stop the internet..
But as per the standard way of life now people can't do work and live without internet,,
But if someday people will stop buying the absolute answer is you will lose everything that you invested in bitcoins..

crypto4lambo

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If that is the case then obviously its price will go down. More people would be willing to sell their bitcoin at a lower price just to sell it. But the question is why would it be like that? what will be the reason to cause such crash? There is always a risk in every investment but if it has strong foundation and have a great long term plan not to mention the security and accesibility it has then I think there will be no reason for us to abandon bitcoin. Let us just think that if many would sell their holdings then why not buy it. I think it is a great time to accumulate bitcoin and think it as discounted price. I believe that bitcoin is the future if and only if we still believe in it.

filharvey

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People would stop buying bitcoins only if they lose their hope totally in it.We could not see such things now in the bitcoin world.

OP is referring a situation similar to tulipomania.But tulips were sold just in contracts even without having tulips.That's why,tulip price got crashed and it became nothing.

But here,we hold bitcoins in our wallet and it is verified.So,such a situation could not happen.

Also,all people could not take the same decision at the same time.So,no need to fear about such a situation.

glanmarc

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I can't imagine that people will stop buying bitcoin because bitcoins have so high demand. and as the price of bitcoin increase the demand or interested people will also increase.

shamzblueworld

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Quote from: BrewMaster on October 31, 2017, 11:07:34 AM

you can't just ask these "what if" questions without putting a little thought into it!
for example why would every single person involved with bitcoin decide "at the same time" to not buy bitcoin anymore at any price?

I didn't mean to say that it will happen at once or all of a sudden, I meant what if this start to happen gradually. People just stop being interested in buying it, then what will happen to the miners, to the exchanges and to some extent altcoins?

whoisyourking

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Quote from: shamzblueworld on October 31, 2017, 11:05:50 AM

What will happen if people just stop buying bitcoin? Will bitcoin be as usable as now Or will it be a step towards the end?

How will the market value react to it, people wanting to sell bitcoin but there is no one to buy.

If that's happen bitcoin will be forgotten for ever. Why people will stop buying bitcoin? there are some reason why people will stop buying bitcoin like if the government announce that bitcoin is illegal or if government will banned bitcoin worldwide this will be the reason to stop us from buying bitcoin..

Hallmader

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Quote from: shamzblueworld on October 31, 2017, 11:05:50 AM

What will happen if people just stop buying bitcoin? Will bitcoin be as usable as now Or will it be a step towards the end?

How will the market value react to it, people wanting to sell bitcoin but there is no one to buy.

If people stop buying bitcoin, that would be the end of everything. The entire Bitcoin market will come crashing down to the ground. Can you imagine a scenario where someone is trying to sell something that people do not want? That something he is selling will be of no value and he would eventually throw it away. That will be what happens to bitcoin is ever the situation you are thinking will occur. But I don't think it will ever happen.

Mpamaegbu

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Quote from: shamzblueworld on October 31, 2017, 11:05:50 AM

What will happen if people just stop buying bitcoin? Will bitcoin be as usable as now Or will it be a step towards the end?

How will the market value react to it, people wanting to sell bitcoin but there is no one to buy.

Lol...Go ask China this and see what answer you get. This won't happen except there is a global ban on Bitcoin. Humans aren't homogeneous in thinking and won't feel and act the same way at the same time.

Malamok101

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when a lot of people stop buying bitcoin, it's a little bit pricey and losing bitcoin because many investors are buying bitcoin so every day bitcoin also increases the price of bitcoin so lage has to be bought and bitcoin should support lacquer to increase this and not losing much because altcoins depend on the bitcoin change so when increasing numbers of investors will also increase the bitcoin.

cipher-x_09

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Bitcoin will eventually head towards its end because of no consumer leads to no business at all no people reacting or getting towards would lead to no transactions from mining, no more signature campaigns because there are no people hyped into bitcoin, end of the ICO. So in mybpredictions it will be the start of its downfall so lets hope it doesn't happen.

monkeydominicorobin

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Quote from: shamzblueworld on October 31, 2017, 11:05:50 AM

What will happen if people just stop buying bitcoin? Will bitcoin be as usable as now Or will it be a step towards the end?

How will the market value react to it, people wanting to sell bitcoin but there is no one to buy.

What will happen to the stockmarket if nobody buys shares of stock? What will happen to gold market if nobody buys gold.What will happen to the United States if nobody buys their sovereign bonds? What will happen to the milk industry if nobody buys milk? What will happen to the Facebook if nobody uses it? What will happen to Google if nobody uses their search engine? What will happen to youtube if nobody uploads new videos? These are more dangerous question than the one which you crafted. Of course I will buy all the Bitcoin should that thing ever happen. Period.

Ararbermas

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Quote from: Aba on October 31, 2017, 08:16:12 PM

If people stop buy bitcoin then bitcoin becomes worthless and nobody else invests in bitcoin. Currently an event like this has actually happened to some failing cyrtocurrency, there is no demands for cryptocurrency, so that make such cryptocurrency worthless.

thats right if no one will use bitcoin . I think that is the end of bitcoin like you said there will be no demand that can make bitcoin value so expensive.and if that time happen. bitcoin is worthless I think we need to find another currency that help us to make more profit like bitcoin does. But impossible to happened i think because of its high demand now adyas.

artemiy

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It would be the end for bitcoin for sure, because the demand would be 0$

jseverson

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Well, we know that Bitcoin's value is dictated pretty much only by supply and demand. The scenario you illustrated typically says there's a massive amount of supply with people wanting to sell, and zero demand with no one wanting to buy. Basic economics say that Bitcoin's value will plummet, possibly even to zero thanks to completely zero demand.

That being said, this will never happen. Bitcoin is already far too large and far too valuable. Its price can drop, but I honestly don't see it having no value at this point.

Choii

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Quote from: shamzblueworld on October 31, 2017, 11:05:50 AM

What will happen if people just stop buying bitcoin? Will bitcoin be as usable as now Or will it be a step towards the end?

How will the market value react to it, people wanting to sell bitcoin but there is no one to buy.

I don't think so,( and i wish can't happen ) but if will happen the value of bitcoin is going lower and cheaper and it's posible the bitcoin was gone because bitcoin was depend of law of supply and demand.

Quote from: rcoins0720 on October 31, 2017, 08:22:58 PM

obviously the price will drop also it is law of supply and demand
but It is not gonna happen because bitcoin now is strong and the price is high
who would people stop using bitcoin right??

Yes i agree with you it's gonna happen, because many people believe in bitcoin that's why almost all investor invest in bitcoin and that's the reason why the value was getting higher and many people use to it.

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