Topic: Will storing bitcoin kill it? - page 2. (Read 3366 times)

I think the price are managing by people who are trading this currency, plus people who are buying it. But in my opinion it's hard to stop bitcoin, only with saving it, a lot of people trading them on different sites, and the price of bitcoin always depends on traders and mostly they are the persons who make it more valuable. Storing bitcoin it's a good thing, then a bad one because people are invetsting on it, to get a profit in some time

Just not true, if you listend or read the article you would see that in theory there comes a time that even a horder will have to sell his coins.  Once bitcoin gets like critical mass, then the horder will be both saving and receiving money in the form of wages.  its basic economics.  not to many people can afford to hoard forever.

Bitcoin's going strong now, the value is soaring and awareness is spreading but the cryptocurrency's seem a little confused about what Bitcoin really is. And If all users store it, I dont think bitcoin will valueless. Its still going up because of its adoption everyday and people will still use bitcoin...

I don't think this is accurate just look at gold no one is spending gold, and yet the price of gold is high, I know it used to be higher but you get my point, if demand is high and no one is selling the price can only go up.

There is always a reward for mining a block, regardless of whether or not there are transactions actually inside of it. Hypothetically something like this would end up just resulting in the market value going down since there would be a lack of people moving Bitcoin on exchanges, but a lack of transactions would certainly not kill it. As long as there is money moving, people will still care.

It is true if the person hoarding Bitcoin purpose is to increase the price.  But, if all owner store Bitcoin (not spending it even once) will posibly make the price increase for a while but since the idea is not spending it, then this demand will  get tired and be pulled out to use for another / other market.  From here, Bitcoin price will decrease until the time that Bitcoin demand will be gone making its value to become worthless.  (Though it would be impossible to not sell if we see  Bitcoin price is very expensive.)

It is impossible to have no transactions, bitcoin is already using globally. Yeah we stored coins but there is no effect like killing it, BTC is circulated through buy and sell, trading and investments. So there is no reason to say that bitcoin is useless.

Killing it? I think NO even if you consider it as hoarding. It can not kill it because there are still altcoins cryptocurrencies to used as an alternative. Storing it will only rise the bitcoin price, because it lessen the supply circulating on the net.

Storing of valuable assets is a form of saving for a better tomorrow. This means storing of bitcoin too is gonna benefit the user and not gonna kill it.

We are just assuming only "IF" and most of us knows what will happen if most of us are going to hold. But still I'm looking into to two points, good and bad. Good just like the way I explained it and bad with the way that will kill bitcoin because of there is no zero progress but if there are people that are keep on looking for it bitcoin won't be drop dead easily.

The loss of demand is why Bitcoin should not be treated as a commodity, just sitting there as a store of value, but instead as a currency for daily transactions. If it isn't being used, people can just use other cryptocurrencies, and those marketcaps will increase instead.

If everyone just stored all of their Bitcoins, then it could kill it. If no one uses it for anything, then there would be no value in Bitcoin as a method for merchants to accept it as payment or for customers to use it for purchases. And it wouldn't have value to transfer funds from person to person. I think we need those to keep it relevant. Luckily it is used on websites for purchases, gambling, and trading, so I think it will survive.

Hey mate, this is just a big theory and it is so impossible to happen havibg zero transaction in days, because first and for most bitcoin has a big and huge volume of users, and many transaction were made every seconds in bitcoin industry.
and If so I guess bitcoin will not be killed or dead because people just hold it and even the price it will stock in its value. But then big whales will not let that thing happen, trading will continue no matter what. But also the chance of rising value is there because for sure the demand will rise because holders hold their coins.

and one more thing is if there is no transaction in bitcoin I guess all bitcoins hold by one holder then there is no one can he or she trade on. But let that thibg not happen, crypto world will going to be boring if so.

If there is no transaction happened in bitcoin for a day or week so i think that will not affect bitcoins price at all.Bitcoins price is based on users trading it if there is no transaction that will happen there will be no price changes and bitcoin price will remain as is for the time that there is no transactions that happening in blockchain or trading platforms

This is an unreasonable question. But all of your points is aiming at the critical part of the bitcoin. and do you think the bitcoin die or not? All of the critical parts of bitcoin will be useless, no miners and none act to securing the bitcoin network.

My argue is about the printing(mining) the digital money, if there is no outside force(protocol) to pressure the rules into the system then that system is a central point of deciding whether or not to mine empty blocks and keep growing the chain(securing previous blocks only) or take the extra money users paying as fee, but if processing transactions has a risk of an invalid or an orphan block then it's in their best broader interest to ignore TXs because 1or 1.5BTC extra earned by fees is not worth to lose 12.5BTC.

I always thought that the transactions actually produce(introduce) the mathematical challenge to the miners but now I see that miners can keep mining even for years without a single TX being in mempool.

While no one else is going to process users TXs since there is no central bank to have it's branches to do that only miners can transfer the funds in a sense but if they have been given the option to refuse then only the honest miners wanting bitcoin to thrive and stay operational will include TXs to the maximum limit size of the block and hostile miners would keep mining empty blocks to hurt the network (from users perspective) and care nothing for the end users and only wants to take their share of the market.

There is no more 1 CPU 1 vote because there is no CPU to begin with.

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For being on topic, dude wtf are you talking about? this is not the perfect world where the masses work together all with one mind and heart to stop doing transactions without exception just for testing sake. you can keep your coins but you should know that you'll never be able to convince every body else doing the same. fortunately bitcoin is not like paper money like if you burn cash it's gone for ever but with btc you will always have the coins in the system.

The difference is that the number of bitcoins awarded to the (winning) miner is fixed. Central banks can print as much money as they want.
Central banks have power while miners are just a cog in the overall Bitcoin scheme.

but i think storing bitcoin is not killing it, but increasing its price very much. if all the people will start storing bitcoin then the supply will decrease and the price of bitcoin will increase.

I did not understand a little here. Do not all mining users make a profit? Of course to keep the blocks all the same It is necessary, but this is not the same as the central banks. Banks are primarily a control.

If miners can continue mining no matter if there are any transactions then what's the difference between central banks and miners.
And most importantly why bitcoin was designed in a way that many of miners do the work but only 1 wins and the works of others goes to waste?