The price of Bitcoin is determined by people's needs. Daily price fluctuations are due to someone buying and selling Bitcoin. The high volatility of Bitcoin indicates that the daily trading volume of Bitcoin is also very large.
The purpose of our investment in Bitcoin is to profit from it, and the profit is to satisfy our daily lives and improve our quality of life, so why not use Bitcoin after we invest? Investment is not just to make profit after accumulation, but to make this investment meaningful.
Topic: Why would people ever use bitcoin if its expected to always go up? - page 2. (Read 1204 times)
September 18, 2021, 02:49:07 AM
September 18, 2021, 02:06:28 AM
It depends on people's goals about how they want to use Bitcoin actually.
It is a choice depending on how many way you have at your disposal to spend those coins. In most countries till date, bitcoin is not yet something that is legally tradeable without problems. If you live in a country like that where bitcoin is a grey area, you are more likely to spend it on gambling and trading.With the increase in countries becoming more lenient towards spending crypto to merchants, there will be an increase in market volatility. These questions currently come up because we are still in baby phases of crypto adoption and it really is starting off now.
Without methods to spend your coins, you are more likely to save them. Simple logic here.
September 05, 2021, 10:43:07 AM
All holders have their own way of using bitcoin and it's their right, the most important thing is to use it wisely and also not to spend it just like that because the future of bitcoin will be brighter like the last 10 years which happened a few months ago and that is real evidence.
I personally prefer to keep it because the price is guaranteed to continue to rise in the long term and besides that I will use it as a reserve fund, and when I need it I will sell it as needed and the rest I save back.
and when there is a decline, I will buy to cover my bitcoins used for needs and grow them.
Up until now, extravagant spending has dropped dramatically because bitcoin has taught us a lesson in awareness and value, Bitcoin is not easily created and would be sorry to waste without meaning, the scope of use is now just encapsulating in making bitcoin the largest virtual bank as well as the best investment option these are two processes that are widely applied and converted back and forth to create a lot of benefits. Such direction is really necessary when individuals with financial shortage cannot raise the value of bitcoin while large funds and whales are short of bitcoin to pump, the use of which is a cooperation between two parties. I personally prefer to keep it because the price is guaranteed to continue to rise in the long term and besides that I will use it as a reserve fund, and when I need it I will sell it as needed and the rest I save back.
and when there is a decline, I will buy to cover my bitcoins used for needs and grow them.
September 05, 2021, 09:38:18 AM
It depends on people's goals about how they want to use Bitcoin actually. People who choose to only trade wouldn't like to sell and use their Bitcoin generally. But people who like to trade and use Bitcoin at the same time wouldn't think of not using Bitcoin as its price is going up. Because Bitcoin is not only for trading for them. Bitcoin gives someone the freedom of using it in different ways anonymously. Maybe its price is going up but people should use it somewhere also to help Bitcoin adoption.
The fact that bitcoin is currently used more for short-term trading maybe daily or weekly, this makes the value of bitcoin always fluctuate so that it gives us the opportunity to buy or sell anytime if we get a profit, this is unique and makes anyone interested in owning bitcoin.
September 05, 2021, 03:58:17 AM
It's going up and down, but overall it's going up more than it goes down, so we have new records every now and then! It's very attractive for people who like to speculate and earn from this volatility... perfectly understandable!
I think the Bitcoin price will stop rising eventually when it conquers the world! We see that more and more people and all sorts of businesses are joining, take a look at where Bitcoin was 10 years ago and follow the line to now... it was nowhere to be found, now the Bitcoin market is almost at a trillion dollars! And do you think it will stop there? I think not, there are a lot more things that Bitcoin can do on a global stage!
I think the Bitcoin price will stop rising eventually when it conquers the world! We see that more and more people and all sorts of businesses are joining, take a look at where Bitcoin was 10 years ago and follow the line to now... it was nowhere to be found, now the Bitcoin market is almost at a trillion dollars! And do you think it will stop there? I think not, there are a lot more things that Bitcoin can do on a global stage!
September 05, 2021, 03:37:55 AM
All holders have their own way of using bitcoin and it's their right, the most important thing is to use it wisely and also not to spend it just like that because the future of bitcoin will be brighter like the last 10 years which happened a few months ago and that is real evidence.
I personally prefer to keep it because the price is guaranteed to continue to rise in the long term and besides that I will use it as a reserve fund, and when I need it I will sell it as needed and the rest I save back.
and when there is a decline, I will buy to cover my bitcoins used for needs and grow them.
I personally prefer to keep it because the price is guaranteed to continue to rise in the long term and besides that I will use it as a reserve fund, and when I need it I will sell it as needed and the rest I save back.
and when there is a decline, I will buy to cover my bitcoins used for needs and grow them.
September 05, 2021, 03:08:10 AM
It depends on people's goals about how they want to use Bitcoin actually. People who choose to only trade wouldn't like to sell and use their Bitcoin generally. But people who like to trade and use Bitcoin at the same time wouldn't think of not using Bitcoin as its price is going up. Because Bitcoin is not only for trading for them. Bitcoin gives someone the freedom of using it in different ways anonymously. Maybe its price is going up but people should use it somewhere also to help Bitcoin adoption.
September 04, 2021, 11:56:43 PM
People do end up not selling their gold for a long time, I have seen people leaving gold to their child when they die, gold is not something you "spend". Bitcoin is like fiat in the sense that you can spend it, you can pay bitcoin to someone and get something in return, that is the beauty of bitcoin, but at the same time you could also keep it as well, you do not have to end up spending it neither because it is going to make a lot of money to you.
However I agree that nobody should fear spending bitcoin, you bought that bitcoin with money, you can do the same, so you spend $100 on bitcoin? Well, go ahead and buy $100 worth same day and you will be fine, or do it before you send it. That way you can both still have the same amount if you want to and also you could be spending it without a problem as well. I just feel like that is the type of thing we should all do.
However I agree that nobody should fear spending bitcoin, you bought that bitcoin with money, you can do the same, so you spend $100 on bitcoin? Well, go ahead and buy $100 worth same day and you will be fine, or do it before you send it. That way you can both still have the same amount if you want to and also you could be spending it without a problem as well. I just feel like that is the type of thing we should all do.
As far as I know those people who owned a gold are possibly rich man or have other resources in their life so they hold their gold for a long time and giving it as inheritance to their children. What I mean is, everyone is entitled to do what do they wanted to do with their assets but as far as i'm concern if a person has no other resources rather than the profit that he gets from his bitcoin investments then there's no point of holding his coin for a long term investments. Bitcoin were so volatile and we can't tell when it will go up and go down, we do believe that bitcoin has a great future ahead but it's true we can't eat bitcoin instead we can use it to buy food so spend it wisely.
September 04, 2021, 06:56:19 PM
First of all, Bitcoin price doesn't always go up as we all know.
That's known but in the long term view, it's really expected to go up.It starts going up generally when there is a good rally or a bull run. Let's say that the price is always going up. In that case, there are still two types of people whose usage purposes are totally different. Or there are three types of people. Some people only like to trade their Bitcoin in exchanges or HODL their coins. Some people like to use Bitcoin only when they decide to buy something. And some other people like to do these things both at the same time.
We're mostly all of those types, when the price is good, we're about to take profits and use it to buy something that we want to. But it all ends up to the one category or type, that most of us who have bitcoin, we're all holders. We are all believing that there's a greater future that waits for bitcoin and we're all sharing the same faith that the price will eventually increase to the price that we are expecting to see. Like with most of the predictions today, high price is literally becoming normal for someone's expectation if it's bitcoin. 
September 04, 2021, 06:44:31 PM
Bitcoin needs to follow the financial markets principles which govern the law of supply and demand which illustrate The higher the price the lower the quantities demanded while the lower the price, the higher the quantities demanded vice versa. When the price of a coin is lower, more investors tend to buy more which will trigger the price to go up. When the price is up or at the peek, more investors tend to sell to their share of the coin, making the price if the coin to fall massively.
This price is behind the pump and dump of a coin. The market can not just keep going up continually without having a breath to relax before looking for a sure direction to heed to.
This price is behind the pump and dump of a coin. The market can not just keep going up continually without having a breath to relax before looking for a sure direction to heed to.
September 04, 2021, 05:16:33 PM
First of all, Bitcoin price doesn't always go up as we all know. It starts going up generally when there is a good rally or a bull run. Let's say that the price is always going up. In that case, there are still two types of people whose usage purposes are totally different. Or there are three types of people. Some people only like to trade their Bitcoin in exchanges or HODL their coins. Some people like to use Bitcoin only when they decide to buy something. And some other people like to do these things both at the same time.
The premise is “why use bitcoin if it is always expected to go up.” What it actually does is not relevant, so you’ve fundamentally misunderstood the question. And it is unquestionable that among unsophisticated investors (i.e., retail investors) that bitcoin can only go up. That’s why every time there’s a dip, the mantra on these boards is you have to buy every dip. The subtext of that is any dips are only temporary and the bull case will reestablish soon.
September 04, 2021, 03:14:49 PM
I don't quite get your question, but do you mean that people will hold their coins instead of selling them if Bitcoin is going to up anyways in future and they will be in loss if they spend now, right?
Then that's the case with almost other currencies, okay, may not be with fiat because of inflation, but how about gold and silver?
Let's say, you have gold in your locker, and you know in future it will grow in value surely as it's a very rare metal and precious, but you will still sell it. Why? Because you have to meet your needs. Will you not eat food or drink water for 7 days just for saving more money? No right? That's why even if we assume that, Bitcoin in the long run will go up, still if we use it as currency, we will be willing to spend it for our needs because needs is what we need, we can't eat bitcoins, or gold, we have survival instincts which is quenched by only food and water!
People do end up not selling their gold for a long time, I have seen people leaving gold to their child when they die, gold is not something you "spend". Bitcoin is like fiat in the sense that you can spend it, you can pay bitcoin to someone and get something in return, that is the beauty of bitcoin, but at the same time you could also keep it as well, you do not have to end up spending it neither because it is going to make a lot of money to you.Then that's the case with almost other currencies, okay, may not be with fiat because of inflation, but how about gold and silver?
Let's say, you have gold in your locker, and you know in future it will grow in value surely as it's a very rare metal and precious, but you will still sell it. Why? Because you have to meet your needs. Will you not eat food or drink water for 7 days just for saving more money? No right? That's why even if we assume that, Bitcoin in the long run will go up, still if we use it as currency, we will be willing to spend it for our needs because needs is what we need, we can't eat bitcoins, or gold, we have survival instincts which is quenched by only food and water!
However I agree that nobody should fear spending bitcoin, you bought that bitcoin with money, you can do the same, so you spend $100 on bitcoin? Well, go ahead and buy $100 worth same day and you will be fine, or do it before you send it. That way you can both still have the same amount if you want to and also you could be spending it without a problem as well. I just feel like that is the type of thing we should all do.
when you are totally trying to compare it on investment because we do know on what are their main differences when it comes to reasoning in mind on why they do decide neither they would deal with it or would simply
skip or pass.It is depending on several factors and thats why we cant really make out conclusions on why it do happen. People would always expect for bitcoin to go up because they had seen out its history
and presuming on doing the same thing is more likely.
September 04, 2021, 02:48:47 PM
I don't quite get your question, but do you mean that people will hold their coins instead of selling them if Bitcoin is going to up anyways in future and they will be in loss if they spend now, right?
Then that's the case with almost other currencies, okay, may not be with fiat because of inflation, but how about gold and silver?
Let's say, you have gold in your locker, and you know in future it will grow in value surely as it's a very rare metal and precious, but you will still sell it. Why? Because you have to meet your needs. Will you not eat food or drink water for 7 days just for saving more money? No right? That's why even if we assume that, Bitcoin in the long run will go up, still if we use it as currency, we will be willing to spend it for our needs because needs is what we need, we can't eat bitcoins, or gold, we have survival instincts which is quenched by only food and water!
People do end up not selling their gold for a long time, I have seen people leaving gold to their child when they die, gold is not something you "spend". Bitcoin is like fiat in the sense that you can spend it, you can pay bitcoin to someone and get something in return, that is the beauty of bitcoin, but at the same time you could also keep it as well, you do not have to end up spending it neither because it is going to make a lot of money to you.Then that's the case with almost other currencies, okay, may not be with fiat because of inflation, but how about gold and silver?
Let's say, you have gold in your locker, and you know in future it will grow in value surely as it's a very rare metal and precious, but you will still sell it. Why? Because you have to meet your needs. Will you not eat food or drink water for 7 days just for saving more money? No right? That's why even if we assume that, Bitcoin in the long run will go up, still if we use it as currency, we will be willing to spend it for our needs because needs is what we need, we can't eat bitcoins, or gold, we have survival instincts which is quenched by only food and water!
However I agree that nobody should fear spending bitcoin, you bought that bitcoin with money, you can do the same, so you spend $100 on bitcoin? Well, go ahead and buy $100 worth same day and you will be fine, or do it before you send it. That way you can both still have the same amount if you want to and also you could be spending it without a problem as well. I just feel like that is the type of thing we should all do.
September 04, 2021, 01:47:57 PM
It seems like this...Why you are here in crypto? To invest in bitcoin. Why you need to invest in bitcoin? To earn profit. Why you need to earn? Just to live and survive. To have money to spend for foods, clothes, house, cars, pay bills, hang outs, etc.... What’s the benefit of bitcoin if people don’t use it? Don't forget that bitcoin was created from zero value and now it was so valuable because of it's limited supply with a higher demand. And while adoption keep on increasing, bitcoin is become more useful not just as an asset but also as digital currency that people love to buy and sell.
You are right indeed the price of BTC is unstable and payment becomes very difficult , The second problem is when we buy an item like a loaf of bread , Or an object worth 10$ want to pay with the price . Small value of BTC is really difficult because BTC transactions have to pay some fees for the transaction ie you buy $ 10 will turn into $ 15 or more, and for stable money, you can pay immediately and pay with amount of small value. September 04, 2021, 12:46:41 PM
First of all, Bitcoin price doesn't always go up as we all know. It starts going up generally when there is a good rally or a bull run. Let's say that the price is always going up. In that case, there are still two types of people whose usage purposes are totally different. Or there are three types of people. Some people only like to trade their Bitcoin in exchanges or HODL their coins. Some people like to use Bitcoin only when they decide to buy something. And some other people like to do these things both at the same time.
September 04, 2021, 12:17:05 PM
I couldn't put the full title in the subject line due to character restrictions, but here is the full question:
If bitcoin was fully adopted into everyday life, why would it ever be used for day-to-day transactions if the general consensus was that the price would always appreciate?
After reading several posts on this forum many people seem to think that Bitcoin will always go up. If this were to be the case, why would people spend Bitcoin at all? In this theoretical time, wouldn't it just be a poor financial decision to do?
Or is it thought that in this future where there is widespread adoption the price would stop being so volatile and for the most part stabilize?
First point is Bitcoin is cryptoCURRENCY = meaning must be use in exchange to something for this to have distinguish value.If bitcoin was fully adopted into everyday life, why would it ever be used for day-to-day transactions if the general consensus was that the price would always appreciate?
After reading several posts on this forum many people seem to think that Bitcoin will always go up. If this were to be the case, why would people spend Bitcoin at all? In this theoretical time, wouldn't it just be a poor financial decision to do?
Or is it thought that in this future where there is widespread adoption the price would stop being so volatile and for the most part stabilize?
Second point is Bitcoin has been wrong anticipated by people in which going to be Store of value.
Third point is Bitcoin is very well trust(though also manipulated) in which the main reason why people seems to be waiting for long term.
if bitcoin mate it adopted worldwide , then this is much valuable to spend things that i believe the main thing why people keeps holding instead of spending .
On the first point, it may have been the intention but it's certainly not of much practical use as a currency. A currency that can't keep a steady value isn't much of a currency at all. Store of value is still being proved out. There hasn't been enough time to determine if bitcoin will prove a decent historical store of value.
August 31, 2021, 10:05:52 PM
I couldn't put the full title in the subject line due to character restrictions, but here is the full question:
If bitcoin was fully adopted into everyday life, why would it ever be used for day-to-day transactions if the general consensus was that the price would always appreciate?
After reading several posts on this forum many people seem to think that Bitcoin will always go up. If this were to be the case, why would people spend Bitcoin at all? In this theoretical time, wouldn't it just be a poor financial decision to do?
Or is it thought that in this future where there is widespread adoption the price would stop being so volatile and for the most part stabilize?
First point is Bitcoin is cryptoCURRENCY = meaning must be use in exchange to something for this to have distinguish value.If bitcoin was fully adopted into everyday life, why would it ever be used for day-to-day transactions if the general consensus was that the price would always appreciate?
After reading several posts on this forum many people seem to think that Bitcoin will always go up. If this were to be the case, why would people spend Bitcoin at all? In this theoretical time, wouldn't it just be a poor financial decision to do?
Or is it thought that in this future where there is widespread adoption the price would stop being so volatile and for the most part stabilize?
Second point is Bitcoin has been wrong anticipated by people in which going to be Store of value.
Third point is Bitcoin is very well trust(though also manipulated) in which the main reason why people seems to be waiting for long term.
if bitcoin mate it adopted worldwide , then this is much valuable to spend things that i believe the main thing why people keeps holding instead of spending .
August 31, 2021, 09:09:20 PM
I couldn't put the full title in the subject line due to character restrictions, but here is the full question:
If bitcoin was fully adopted into everyday life, why would it ever be used for day-to-day transactions if the general consensus was that the price would always appreciate?
After reading several posts on this forum many people seem to think that Bitcoin will always go up. If this were to be the case, why would people spend Bitcoin at all? In this theoretical time, wouldn't it just be a poor financial decision to do?
Or is it thought that in this future where there is widespread adoption the price would stop being so volatile and for the most part stabilize?
Bitcoin used by many people around the world has all different purpose. Some are using for investment and holding is the main goal and some are spending bitcoin because they are making day trading and the expense of profit will be converted cash for the daily life needs. There are people also buying bitcoins for the ease and hustle free online payment transaction because crypto currency always makes life easy. If bitcoin was fully adopted into everyday life, why would it ever be used for day-to-day transactions if the general consensus was that the price would always appreciate?
After reading several posts on this forum many people seem to think that Bitcoin will always go up. If this were to be the case, why would people spend Bitcoin at all? In this theoretical time, wouldn't it just be a poor financial decision to do?
Or is it thought that in this future where there is widespread adoption the price would stop being so volatile and for the most part stabilize?
August 31, 2021, 05:51:50 PM
[snip]
However I agree that nobody should fear spending bitcoin, you bought that bitcoin with money, you can do the same, so you spend $100 on bitcoin? Well, go ahead and buy $100 worth same day and you will be fine, or do it before you send it. That way you can both still have the same amount if you want to and also you could be spending it without a problem as well. I just feel like that is the type of thing we should all do.
Well that should be --but people see that bitcoin is good for storing value because they know that will get profit on it that spending regularly. But there are some people who are regularly spending their bitcoin, only a few of them while the largest percentage is hoarding bitcoin to hunt profit. You can see on mempool that there are fewer transactions on bitcoin, so perhaps people are preferred to hold than use like money. However, we can't blame them because that is normal in crypto that we should understand. Spending or keeping it to store value is not important, you help the crypto space in a different ways. However I agree that nobody should fear spending bitcoin, you bought that bitcoin with money, you can do the same, so you spend $100 on bitcoin? Well, go ahead and buy $100 worth same day and you will be fine, or do it before you send it. That way you can both still have the same amount if you want to and also you could be spending it without a problem as well. I just feel like that is the type of thing we should all do.
August 31, 2021, 02:46:54 PM
I don't quite get your question, but do you mean that people will hold their coins instead of selling them if Bitcoin is going to up anyways in future and they will be in loss if they spend now, right?
Then that's the case with almost other currencies, okay, may not be with fiat because of inflation, but how about gold and silver?
Let's say, you have gold in your locker, and you know in future it will grow in value surely as it's a very rare metal and precious, but you will still sell it. Why? Because you have to meet your needs. Will you not eat food or drink water for 7 days just for saving more money? No right? That's why even if we assume that, Bitcoin in the long run will go up, still if we use it as currency, we will be willing to spend it for our needs because needs is what we need, we can't eat bitcoins, or gold, we have survival instincts which is quenched by only food and water!
People do end up not selling their gold for a long time, I have seen people leaving gold to their child when they die, gold is not something you "spend". Bitcoin is like fiat in the sense that you can spend it, you can pay bitcoin to someone and get something in return, that is the beauty of bitcoin, but at the same time you could also keep it as well, you do not have to end up spending it neither because it is going to make a lot of money to you.Then that's the case with almost other currencies, okay, may not be with fiat because of inflation, but how about gold and silver?
Let's say, you have gold in your locker, and you know in future it will grow in value surely as it's a very rare metal and precious, but you will still sell it. Why? Because you have to meet your needs. Will you not eat food or drink water for 7 days just for saving more money? No right? That's why even if we assume that, Bitcoin in the long run will go up, still if we use it as currency, we will be willing to spend it for our needs because needs is what we need, we can't eat bitcoins, or gold, we have survival instincts which is quenched by only food and water!
However I agree that nobody should fear spending bitcoin, you bought that bitcoin with money, you can do the same, so you spend $100 on bitcoin? Well, go ahead and buy $100 worth same day and you will be fine, or do it before you send it. That way you can both still have the same amount if you want to and also you could be spending it without a problem as well. I just feel like that is the type of thing we should all do.
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