If people stop buying bitcoin - page 68.

silent17

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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 guess that bitcoin value will be the same at it is now, It will be stuck like that forever if people will just stock their bitcoin but if people started trading them to a different currency then I'm guessing that the price of bitcoin go down and down until it reaches the bottom. And I hope that it will not happen.

Latviand

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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.

First of all its impossible for now that the bitcoin will end because we know that the price of bitcoin is expensive so many people who used it.and you must know the law of supply and demand before you go to bitcoin because bitcoin is part of economics now.but if that happen( i wish that can't happen) then it is really to end because there's no one will used the bitcoin

rcoins0720

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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??

Aba

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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.

Yarsk

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All thou it is good to ask some unforeseen questions some time despite the fact that it might never happen. But the first step you should have taken is to ask what is can bitcoin loose it value at once, or can the market reject bitcoin at once this are pressing questions that need a serious answer. Because I don't think every one involve in bitcoin will suddenly want to reject bitcoin at once and paraventure that happen then bitcoin will loose it value to $0 and that could be the end of it all.

bololord

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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 but if people stop buying and stop investing in bitcoin maybe the bitcoin will collapse but it will never happen because as far as now bitcoin is totally increasing and increasing so ithink many people always buy bitcoin.

thet

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elysian.finance

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.

Maybe, bitcoin will eventually comes to an end but for me, it is impossible to happen a lot of people value their bitcoin too much and i am also find it very important because i earn thru bitcoin just like others. A lot of people are earning thru buying and selling BTC so theres no chance that it may happen.

Alns

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There are a lot of bitcoins in circulation and most of them are being holded by those who bought them, and there is no way that they could stop being bought because it is impossible.
Just think about it, gold has never been freezed without any buyers, because it is an asset.
Maybe you mean "what happens if bitcoin stops being mined", then the answer will almost be the same; nothing, because all bitcoins will stop being mineable after the year 2120 .

planewhat

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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.

This won't happen, as people will continue to buy it no matter what, but if it did then it would become worthless. Sad

BUK2016

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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.

Well for such a thing to happen there must have been some thing extraordinary will happen to people's minds before they could say they could say that no longer meet Bitcoin.

squatter

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STOP SNITCHIN'

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 if people stop buying gold? How is that any different? My expectation is that price will go down. If literally nobody wants to buy BTC anymore, then its price will go to $0 and volume will evaporate entirely.

Unless there is a fundamental protocol failure, I don't see that happening. And even if there was such a failure, I think BTC would be forked to fix it, and demand would return. I guess in that case, there would technically be no buyers for legacy BTC, as we would all have moved to the forked version.

Hexah

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If by chance that there will be no one stop buying bitcoin then it will be totally not usable and no more value than what it was, because bitcoins value or price really determines the demand of the users who owns it. I don't think that it will happen right now and I don't think also that it will be because is the digital gold to be exact on this century in fact if you just hold or reserved it that would be a good asset because the future will lies in to a digital world.

mOgliE

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The answer of your question is mainly linked with the law of demand and offer. Whatever the product we talk about, prices tend to rise when there is more demand than available products (offer).

In the case you are talking about, this means that there is more offer (bitcoin) than demand (people willing to buy). Logically, prices should fall. Yet, such collapse does not mean that the product itself will disappear. People using it will have to adapt their behavior and change their habits. This means that 1 bitcoin may be worth 1 dollar.
However, this drop is not a step toward end of bitcoin.

And actually, if you pay attention to the way bictoins are created, such a drop seems completely impossible.

codem0nkey

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hard to imagine, because the chances are just so slim.

pat4cryptoreal

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We are not praying for such thing to happen but if it happens there will be a fall in price because it is the level of demand that always propel the price.

batang_bitcoin

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

What will happen if people just stop buying bitcoin?

Then everyone is holding bitcoin and does have enough bitcoin so there's no more bitcoin to buy but it's not good for the ecosystem since everyone is hoarding.

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

Will bitcoin be as usable as now Or will it be a step towards the end?

What makes you think that bitcoin will come to an end? Just because no ones buying it? Buying and using are different terms, it will only step towards to its end when no one is using bitcoin.

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

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

The price will become lower/cheaper.

coolcoinz

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As long as exchanges are a thing there will always be sellers and buyers. Even worthless shitcoins are still being traded because people are looking for ways to make money on them. You couldn't just make them stop buying even if Bitcoin was known to have a fatal flaw or started to be replaced by something else, better.

Philippines

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https://www.doh.gov.ph/covid-19/case-tracker

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.

Well If that happened BTC price will decreased since it wont be bought already .

soham

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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 will stop buying bitcoin, that would be the end of it. If there are no buyers available, there will be no value of bitcoin and it can be announced that bitcoin is dead. There will be supply but there will be no demand. So the price of bitcoin will be zero. Miners will stop mining it as there will be no takers of the coin and since there is no mining, no transactions will be confirmed. Basically the end of bitcoin.

virtfund

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People do not easily leave their habits. Bitcoin is now in our world. Even if there is no Bitcoin, there will be other digital money. People will not stop buying Bitcoin because they just started

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