What happens if people stop buying bitcoin?

marabanda

jr. member

Activity: 294

Merit: 1

Weird question. If this happens at the moment, then the whole market will fall to a crypto low value. However, at the moment there is no reason that people suddenly stop buying bitcoins.

velmawattsu

newbie

Activity: 125

Merit: 0

Price is down Grin

I will buy Cheesy

astrid.uchiha24

full member

Activity: 280

Merit: 100

No demand means the end of it, if everyone decides not to buy bitcoin due to some reason like it lose its profitability or many government already shutdown trading of it or maybe there's a new kind of crypto like working currency created which is a far better than bitcoin's technology using which is the blockchain, i believe that would be the end of cryptocurrency market.

Chanock

full member

Activity: 476

Merit: 102

Quote from: rakibul1364 on March 25, 2018, 02:18:53 AM

BTCBTCBTC
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?
BTCBTCBTC
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 and investor to. The future of bitcoin is nothing less and the value of it have not worthy. Or else if people stop buying on bitcoin, I think it is the end of bitcoin.

Quote from: NavI_027 on March 25, 2018, 06:30:19 PM

The "Supply and Demand" principle can simply explain this. Since no one is buying now then I'm pretty sure the price will become stagnant and if we assume also that all are selling their remaining holdings then this btc's price will continue dropping and will not recover (since we are not buying anymore).

Quote from: rakibul1364 on March 25, 2018, 02:18:53 AM

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

Definitely not because this means that btc are now valueless for us. Tendency, we will prefer using another coin and this coin will have the chance to replaced btc and become on top.

Possible it will happen once the interest of people in bitcoin stop and new altcoin will rise because people turn to as alternative for bitcoin.

SUDARMONO

full member

Activity: 504

Merit: 100

If that happens I think that would be the end for bitcoin, because the most important buying and selling transaction is in bitcoin currency, but it is very difficult and I do not think it is possible for bitcoin.

hadveach

full member

Activity: 448

Merit: 102

Quote from: rakibul1364 on March 25, 2018, 02:18:53 AM

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

I think if everyone stops buying bitcoin, then bitcoin will die and will not have value, because the biggest factor why bitcoin can survive until today is because of spreading and high volume, so bitcoin trade still continues and survive.
if the market value does not react to bitcoin, then bitcoin does not have marketability.

kaikai18

newbie

Activity: 140

Merit: 0

When people stop buying bitcoins everything will crash but I think it will never happen. We are on millenial era everyone is already aware of bitcoin thru computers.

marzyyy

newbie

Activity: 90

Merit: 0

Prices will go down to zero when people starts selling and there's no one buying. Any thing will lose it's value when it lose it's demand.

Meysa_richa

member

Activity: 458

Merit: 10

If bitcoin no one buys it's a very sad thing, because its bitcoin life is from a sale and purchase transaction, if nobody buys bitcoin it means bitcoin will die.

MystereToy

newbie

Activity: 15

Merit: 0

Quote from: rakibul1364 on March 25, 2018, 02:18:53 AM

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

In my opinion, this is a bit like with gold. People made up its value mostly because it was "rare". It is used in the electronic and in the space industry mostly but the biggest demand exist for jewellery and .... financial assets.

What would happened if people stop buying gold ? I think the price would dramatically drop ...

One of the main differences between gold and bitcoin is that we can touch gold, and we can't really touch a bitcoin Cheesy

People are not yet ready to stop buying gold and bitcoin is not yet accepted for most of people as a valuable asset.

In the future, people might stop buying gold and buy bitcoin instead !

Ausgewielt

full member

Activity: 453

Merit: 104

Quote from: rakibul1364 on March 25, 2018, 02:18:53 AM

BTCBTCBTC
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?
BTCBTCBTC
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, there is no problem with market value. Its part of volatility if you doubt and sell your bitcoin then you will be regret in the future. Bitcoin still in early stage of adoption, and it's only new currency, the current market condition is normal. Just hold your coin for long term, it's always work. There is no reason for people to buy bitcoin because it's give them many advantages, we are too focus on profit, we should also concern about what benefits that bitcoin brings to us.

JanpriX

hero member

Activity: 1708

Merit: 606

Buy The F*cking Dip

First and foremost, it will be impossible for that to happen especially with what things are going right now in the cryptosphere. Don't get me wrong, I know that anything is possible but I'm just basing my views on the facts that we have right now. We can have a decreased trading volume for BTC day-on-day but an all-out "halt" of its trading would very unlikely to happen.

And, if that thing indeed happens, we would go back to those times where BTC is just being introduced to a few individuals and core community will just be the ones who'll be trading it. There will still some minute trading of it. As we all know, the price would definitely decrease if people started to not buy it.

NavI_027

full member

Activity: 1232

Merit: 186

The "Supply and Demand" principle can simply explain this. Since no one is buying now then I'm pretty sure the price will become stagnant and if we assume also that all are selling their remaining holdings then this btc's price will continue dropping and will not recover (since we are not buying anymore).

Quote from: rakibul1364 on March 25, 2018, 02:18:53 AM

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

Definitely not because this means that btc are now valueless for us. Tendency, we will prefer using another coin and this coin will have the chance to replaced btc and become on top.

jimbo2000

full member

Activity: 336

Merit: 100

Quote from: rakibul1364 on March 25, 2018, 02:18:53 AM

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

1. The price would likely fall as there would be no demand and supply would drop the price down.

2. If people aren't buying bitcoin then it couldn't be used in a lot of cases because merchants would not be able to sell it for USD or any other currency and so wouldn't accept it.

3. Yes it would be a massive step towards the end

4. See 1.

Digital Mutant

full member

Activity: 420

Merit: 105

Quote from: rakibul1364 on March 25, 2018, 02:18:53 AM

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

I think that we won't experience this situation. Private asset management are very bullish, wall street is entering in crypto market, support and resistence levels are strong at $8/9k, evrybody is taking about crypto and bitcoin....

It's not time to worry in this moment and and in the future it will be a very well valued asset.

Don't worry

Reid

hero member

Activity: 2912

Merit: 642

Let us say that happen and then make an example.

If you have a store of different collections and suddenly no one visits or buy at your store anymore then what would you do?
Close it down right?
Same with everything out there that gets some value. If people stops believing there is usage in it then it will be like phasing out.
No more customers means a loss in profit and people will look for a new option.

wowbit123

newbie

Activity: 77

Merit: 0

The value may not be stop even do people stop buying Bitcoin.market will react of how they could sale there Bitcoin and many of client will be out of patient and basically the market will be out of buyers or traders to do so.

gandhe83

member

Activity: 266

Merit: 10

Quote from: Dingdongjl on March 25, 2018, 02:28:00 AM

If all people instantly stopped investing on bitcoin the value will be stable if there is no buyer there will be no seller so the market will stop its circulation but bitcoin will remain.

If the bitcoin transaction stops, the bitcoin will lose value and disappear. But that only happens when the cryptocurrency market no longer exists because bitcoin is the symbol of this market and it will not disappear until the cryptocurrency market is still alive.

HeRetiK

legendary

Activity: 2912

Merit: 2066

Quote from: rakibul1364 on March 25, 2018, 02:18:53 AM

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

Assuming there's still some trade going on, with Bitcoin being traded at much lower levels due to little demand: The hashrate would be much lower, but Bitcoin would continue running as is, meaning it would still be usable -- assuming you find someone to exchange Bitcoin for fiat, goods or services with. The good news is, transactions would be incredibly cheap as the blocks would be near empty and what little sat/byte you'd pay in transaction fees would be worth near zero in fiat terms. The bad news is, once block reward dries up and close to no transactions take place, mining would indeed likely simply cease to exist beyond some hobbyists, if that.

If there were literally no trade going on, as in zero liquidity and no one being willing to accept Bitcoin as a means of payment -- then no, Bitcoin would not be usable anymore and the theoretical price would be frozen at whatever valuation the last known trade happened. The market would have no way to react to it, as by definition, no market would exist.

Polycarpe

newbie

Activity: 22

Merit: 1

Quote from: rakibul1364 on March 25, 2018, 02:18:53 AM

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

i think the PRICE would stay stable because the last sold would probably last for ever since no buy/sells can be made.
atleast on coinmarketcap or at brokers.

The VALUE however would drop dramatically, imagine those who enable adoption with btc-marketplaces and every business model working with btc. nobody would want to enable btc paymets for their value proposition because nobody spend their btc.

Thats the exact opposite then what we need. we need to spend our btc to feed the ecosystem so it can grow.

Topic: What happens if people stop buying bitcoin? (Read 178 times)