We already knew the factors that will decrease the demand for bitcoin, and one of those is if one country prohibits/banned the usage of it.
But, since bitcoin increases rapidly and widely adopt by each person I think it will not decrease the demand anymore , rather the demand is continuously increasing and its usage has been helpful in our life.
Topic: Is there any possibility of a decrease in demand for Bitcoin? (Read 2254 times)
well, albeit slightly, of course bitcoin has such possibility. bitcoin is something that is definitely not in the price, there is always an increase, and decreases suddenly. if there is something better than the bitcoin, and can provide higher income than the bitcoin. may, at the request bitcoin will decline, and people began to give up using bitcoin.
When the number of new bitcoins users are joining with this industry,the network growing continuously there no possibility of a decrease in demand for Bitcoin in next future.Because of demand for Bitcoins that appreciation remains a strong possibility and combined,market observers expect that bitcoin prices will increase only.
I think the public opinion plays a big role in the number of people joining bitcoin.When the media always connect bitcoin to criminals who make use of it, the image of bitcoin gets bad and the number of new bitcoin users decreases.
But I hope those times are over. I have noticed that news about bitcoin turn out to be more and more fair.
Maybe that is one of the reasons why 2016 was so successful for bitcoin: impartial, sometimes positive reports in the media.
To the OP, we have already seen that in 2013, when we entered multi-year bear market that only ended in 2015. Demand and with it price decreased. We will see it again eventually.
But rest assured that ANY commodity in the world goes through these up and down cycle. It wont change the fact, that as with any diminishing resource, Bitcoin will stedily keep rising in the following couple of years. Unless there is something FAR better, that can fully replace it.
The late 2013 to 2015 phase was just due to collapse of big bitcoin exchange. But rest assured that ANY commodity in the world goes through these up and down cycle. It wont change the fact, that as with any diminishing resource, Bitcoin will stedily keep rising in the following couple of years. Unless there is something FAR better, that can fully replace it.
Only due to negative trend people did not show their interest on those times. There would be no backing reason that will happen again as a cycle.
The demand for bitcoin is completely influenced adoption rate which is significantly on rising trend hence there would be no meaning on discussing about the possibilities of decreasing of demand for bitcoins.
Of course, since its use is still very low compared to other "applications" for calling it of this way, so it is more logical to assume that demand will continue to increase perhaps with a slightly faster growth pattern, peoples in the last decades especially, have a tendency to the increasing use of diverse devices in the businesses as in the home, to facilitate communication and business which allows them to combine several activities that would otherwise not be possible, so as time passes and more uses fit within this scope, demand will continue to present itself with this bullish trend especially speaking in periods of time not less than one year, let's compare it with for example cell phones, about 15 years ago few people had to use the first devices and now its use has spread enormously where now almost all people have one.
I thought it would never happen. because growth annually bitcoin users is increasing. especially with the policies and regulations in bitcoin users will definitely increase.
When the number of new bitcoins users are joining with this industry,the network growing continuously there no possibility of a decrease in demand for Bitcoin in next future.Because of demand for Bitcoins that appreciation remains a strong possibility and combined,market observers expect that bitcoin prices will increase only.
The demand for Bitcoin is something that depends on the demand for Fiat currency. If Fiat currency performs negatively, people will seek a solution that will bring more benefits and stability to their lives, so more people will realize that Bitcoin is a more efficient currency, and the demand for Bitcoin will increase. From my point of view, the odds are higher that most fiat currencies lose value over time, and that's a plus for Bitcoin.
There is and will be always chance to decrease demand on bitcoin.
But it will be always SHORT TERM. bitcoin is one of the most LONG assets I have ever seen.
But it will be always SHORT TERM. bitcoin is one of the most LONG assets I have ever seen.
As said chances are there, because everywhere digitization is playing role. Countries were in research of creating own digital currency. At such moment there will be strong regulation to the use of bitcoin. Alternate solution needs to be made to overcome such issues in the future. Even developing countries major attention were to make everything digital though they lack in several other attributes.
Bitcoin is already synonymous with cryptocurrency / digital currency / virtual currency, like Google with search engines.
Pretty hard to break that connection.
Plus network effect.
Pretty hard to break that connection.
Plus network effect.
There is and will be always chance to decrease demand on bitcoin.
But it will be always SHORT TERM. bitcoin is one of the most LONG assets I have ever seen.
But it will be always SHORT TERM. bitcoin is one of the most LONG assets I have ever seen.
Depends on situation. If more people adapt virtual currency and understands bitcoin demand, is obviously going to rise cause the supply of bitcoins are capped 21M. More companies accepting bitcoin and with government acknowledging those will indeed increase the demand with rise of price.
To the OP, we have already seen that in 2013, when we entered multi-year bear market that only ended in 2015. Demand and with it price decreased. We will see it again eventually.
But rest assured that ANY commodity in the world goes through these up and down cycle. It wont change the fact, that as with any diminishing resource, Bitcoin will stedily keep rising in the following couple of years. Unless there is something FAR better, that can fully replace it.
The late 2013 to 2015 phase was just due to collapse of big bitcoin exchange. But rest assured that ANY commodity in the world goes through these up and down cycle. It wont change the fact, that as with any diminishing resource, Bitcoin will stedily keep rising in the following couple of years. Unless there is something FAR better, that can fully replace it.
Only due to negative trend people did not show their interest on those times. There would be no backing reason that will happen again as a cycle.
The demand for bitcoin is completely influenced adoption rate which is significantly on rising trend hence there would be no meaning on discussing about the possibilities of decreasing of demand for bitcoins.
Yes. I no longer use BTC for buying stuff. The fees are too expensive especially when I can just use a card instead.
Commerce is not much more than a sideshow but it's an important one.
The other biggie is dark markets. They won't care about what coin they use. They just want drugs.
If something good enough is cheaper to use and accepted enough then they'll switch to that without a qualm.
Commerce is not much more than a sideshow but it's an important one.
The other biggie is dark markets. They won't care about what coin they use. They just want drugs.
If something good enough is cheaper to use and accepted enough then they'll switch to that without a qualm.
how are fee too expensive, when they are not even 20 cent of dollars?
with the vast majority of cards you pay at least 1 euro to withdraw from atm and there are other fee, like annual fee and monthly some times, this is far worse than bitcoin
with bitcoin you can actually choose to pay a bit less than the average it will still confirm in a relatively short time, and there are always off-chain TX...
To the OP, we have already seen that in 2013, when we entered multi-year bear market that only ended in 2015. Demand and with it price decreased. We will see it again eventually.
But rest assured that ANY commodity in the world goes through these up and down cycle. It wont change the fact, that as with any diminishing resource, Bitcoin will stedily keep rising in the following couple of years. Unless there is something FAR better, that can fully replace it.
But rest assured that ANY commodity in the world goes through these up and down cycle. It wont change the fact, that as with any diminishing resource, Bitcoin will stedily keep rising in the following couple of years. Unless there is something FAR better, that can fully replace it.
I hope there will be no decrease in demand for bitcoin.Already, companies accepting bitcoins are growing in numbers.People who invest in bitcoins know that its supply is finite.Bitcoin transactions are growing in number. US also has no idea of banning bitcoin.Even Trump has selected a bitcoin supporter as member in his white house.These conditions show that there is a huge growth in interest for bitcoins all over the world.Bitcoin price has recovered quickly from effect occurred due to PBOC.I hope these bitcoin favouring conditions will not allow a decrease in demand for bitcoin.
Yes. I no longer use BTC for buying stuff. The fees are too expensive especially when I can just use a card instead.
Commerce is not much more than a sideshow but it's an important one.
The other biggie is dark markets. They won't care about what coin they use. They just want drugs.
If something good enough is cheaper to use and accepted enough then they'll switch to that without a qualm.
Commerce is not much more than a sideshow but it's an important one.
The other biggie is dark markets. They won't care about what coin they use. They just want drugs.
If something good enough is cheaper to use and accepted enough then they'll switch to that without a qualm.
If the demands start grow up more and more and BTC can't cope them, of course people stop using it. Maybe if a new altcoin, better than btc, will create people will start use it and leave btc forever.
I do not see any new coin to replace BTC anytime soon. There are thousands of Altcoins available and none of them is even close to Bitcoin price and volume. For me, i do not see any anyone dominating Bitcoins and bitcoin will rule for atleast 50 years.
Like decrease of breeding rate of animals and human population? like decrease of demand of drinking water?
Or maybe decrease in demand of smart phones and new technologies?
People bitcoin is an open source automated trustless, decentralized virtual currency and will never die how so?
Just make a full copy of the source code and keep it in case all other copies are destroyed to launch bitcoin if the current one failed.
We should go and buy land in middle of the desert for our future generations because next 50 years people will have very small space to live and now someone asks if demand for digital gold reduces over time or not. lol
Or maybe decrease in demand of smart phones and new technologies?
People bitcoin is an open source automated trustless, decentralized virtual currency and will never die how so?
Just make a full copy of the source code and keep it in case all other copies are destroyed to launch bitcoin if the current one failed.
We should go and buy land in middle of the desert for our future generations because next 50 years people will have very small space to live and now someone asks if demand for digital gold reduces over time or not. lol
People think that Bitcoin will be valued more in the future. So they are both mining and buying bitcoin.
Is there any possibility of a decrease in demand for Bitcoin? Whatever happens, people give up using bitcoin.
Is there any possibility of a decrease in demand for Bitcoin? Whatever happens, people give up using bitcoin.
That is hard to expect. You can see that number of transactions grow all the time. That mean that demand for BTC is constantly rising. Demand would decrease only if there would be some flaw.
People think that Bitcoin will be valued more in the future. So they are both mining and buying bitcoin.
Is there any possibility of a decrease in demand for Bitcoin? Whatever happens, people give up using bitcoin.
The possibility always exist for bitcoin, but the chance to happen that different matter.Is there any possibility of a decrease in demand for Bitcoin? Whatever happens, people give up using bitcoin.
Increase or decrease of bitcoin demand reflected by the price for sure. But, the possibility to increase is bigger than decrease as people will realize how bitcoin is beneficial for them, that's why others coins replicate the idea to compete with bitcoin in cryptocurrency world.
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