Is there any possibility of a decrease in demand for Bitcoin? - page 3.

sportis

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Quote from: jakelyson on January 20, 2017, 08:49:30 AM

Quote from: wh04m1 on January 20, 2017, 07:50:26 AM

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.

Of course it is possible. As much as it is possible that the demand can grow high, the opposite can also happen.
A few reasons that can effect this are:
1. Bitcoin fails to scale
2. Bitcoin is banned from your country
3. Increased confirmation time
4. A better alt coin emerges that overshadows bitcoin.
5. A major bug is suddenly found on bitcoin codes

There can be more reasons that can bring the demand down that I have not thought.

I am really sorry but you are completely mistaken;

1. Bitcoin will succeed to scale with either the one or the other way. Nobody and especially miners want people give up bitcoin because they have spent millions of dollars in mining pools.
2. So what? Bitcoin uses internet and anybody can use it to buy things from Internet. Moreover banning has the opposite results from the intended ones https://news.bitcoin.com/needham-banning-not-prevent-bitcoin-adoption/
3. There is lightning network in alpha release for micro payments
4. May post the traits this alt coin so as it will overshadows bitcoin? or what kind of features bitcoin lacks from this super alt coin?
5. Wow!! After 8 years nobody found this 'bug' and 'major' one? If anyone find something like that banks will put him on their payroll without doing anything.

Today I read that Pakistan the 7th most populous country in the world may be the next major user after India https://news.bitcoin.com/pakistan-set-to-become-a-major-bitcoin-hub/

Paxful_Marketing

newbie

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Anything is possible in this world, though with that in mind, i would consider the following:

- Bitcoin has a huge community of investors, developers etc who continuously seek to resolve any issues. Imagine if you invested in a bitcoin based startup, or even directly into purchasing bitcoins for yourself. You would do your best to promote and protect it.

- Furthermore, hackers, banks and other organizations who may feel "threatened" by bitcoin or simply just want to extract wealth from it, are always on the lookout for faults to do so. This means it has grown and evolved in an environment that naturally demands the network to be kept secure and safe. You can relate this to any living specie, the ones that have grown in a rough / hard environment which is continuously attempting to kill it off, will usually grow to be extremely robust and strong - given they survive it.

Many other ways to look at is, though just some thought

Fireblade

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Quote from: KennyR on January 20, 2017, 08:27:09 AM

I believe that bitcoin demand won't decrease soon or later if users understand the real potential of bitcoin. Just based upon the fluctuations and the unpredictable nature of bitcoin people say that it's demand decrease.

yes that is right that the bitcoin demand is no decreasing but it its demand is increasing from time, we can see that as the time pass the demand of bitcoin is increasing from time to time, people are entering in the world of bitcoin and they are investing their money here therefore the demand of bitcoin is also increasing.

Carmen_Sandiego

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Quote from: wh04m1 on January 20, 2017, 07:50:26 AM

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.

This is unlikely to happen, as Bitcoin's network effect is gaining global proportions. I think the only factors that could cause this would be technical aspects. Many experts have been alerting the community to the need to solve problems related to scalability. Unfortunately, it seems that there is still no consensus on the best solution.

OmegaStarScream

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I doubt It's going to happen , I mean bitcoin is only getting known to more and more people over the world , the chances that the demand decrease highly and result into a decreasing the price with it is highly unlikely unless we the banks and governments stars a real war on us . Even If that happens , that's why Satoshi Nakamoto made halving block reward in the first place.

jakelyson

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Quote from: wh04m1 on January 20, 2017, 07:50:26 AM

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.

Of course it is possible. As much as it is possible that the demand can grow high, the opposite can also happen.
A few reasons that can effect this are:
1. Bitcoin fails to scale
2. Bitcoin is banned from your country
3. Increased confirmation time
4. A better alt coin emerges that overshadows bitcoin.
5. A major bug is suddenly found on bitcoin codes

There can be more reasons that can bring the demand down that I have not thought.

KennyR

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I believe that bitcoin demand won't decrease soon or later if users understand the real potential of bitcoin. Just based upon the fluctuations and the unpredictable nature of bitcoin people say that it's demand decrease.

Karpeles

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Yes, there always is. For example, if all governments in the world decide to ban Bitcoin

But only a few million people at most use Bitcoin, so there is much more room for growth than for decrease of demand.

Maybe the people that use Bitcoin tomorrow won't be the ones that use today, but I still think the demand won't decrease

canhchuacaro1

newbie

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If some altcoin becomes better than bitcoin,all the people will stop using btc and move to the altcoin.
Obviously yes... As much as there are possibilities for an increase in demand
But I don`t think that those posibilities will ever happen.

xIIImaL

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Quote from: wh04m1 on January 20, 2017, 07:50:26 AM

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.

Mining may decrease the every halving period. Due to demand and supply increase only. To say fact. Reduction of demand is not healthier for the bitcoin's price value. I think next halving may move the value to 3000$ plus.

davis196

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Quote from: wh04m1 on January 20, 2017, 07:50:26 AM

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.

If some altcoin becomes better than bitcoin,all the people will stop using btc and move to the altcoin.
If most of the big countries like China and USA ban bitcoin,probably 90% of the btc users will stop using btc.
I don`t think that those posibilities will ever happen.

unamis76

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Obviously yes... As much as there are possibilities for an increase in demand. It all depends on what decisions are taken regarding Bitcoin development and ease of use..

wh04m1

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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.

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