Topic: Would you buy/use Bitcoin if you knew its price would not reach a new ATH? (Read 862 times)

The question is really interesting, since all the options proposed by users will be clear examples of how you can use Bitcoin upon reaching a stable historical high, knowing that the price will no longer rise higher. Then Bitcoin, as always, can be used as a safe haven for your money, since Bitcoin is much more profitable than any national fiat currency, and you can also use it as a means of payment.

I agree. It is much better to let your funds inside your bitcoin wallet, instead of storing it or letting it sit in a bank because it is really not worth it. No one can also tell that bitcoin would not reach it's new ATH price because bitcoin is always been unpredictable due to it's volatility, and a lot of people in the past years have already said that bitcoin will not reach it's ATH price, but it can still reach it.

 I do not understand what people were expecting. People care about how much money they can make, and if the price is right now at around 12k and the ATH is 20k, that means it could go towards 19k and make you almost a double profit right now if it reaches there. If the price drops to 5k and goes to 10k again it would be under this current price but you could sell now buy at bottom and sell at 10k to make a double profit again.

So, the price doesn't matter, people do not care about the price, price could be anything it wants, what people care about is how much money they could make from bitcoin and as long as we can all profit from bitcoin I wouldn't mind if it is from 10k to 20k, if it is 5k to 10k or even 500 dollars to 1k dollars, I only care about my own pocket.

Compared to saving it in a bank, holding it in your wallet is much better than letting it sit in a bank and I'm also using it to buy some stuff and paying for my subscriptions so I am very much ok even if it reach another all time high, but it's unlikely that it will not reach another all time high bull or bear market Bitcoin will always have an all time high.

Probably would still invest into it. Using it is a bit of impossible in my country since no services are accepting it as a mode of payment. But I would still invest into it even if it won't again reach its ATH. Its market value wluld still be increasing in random times, buying and selling at a "right" time would still generate profit.
I actually believe but still mentioned the possibility that it won't reach the ATH record. The market is unpredictable so how come people know that it has assurance of reaching such market value again without hesitation of saying it? Things could go well and not. But the actions you would do, matters the most.

One thing is for sure, it is not as easy at it may sound.

You wouldnt know if they had just misclicked or totally blanked out on what they have read or on whats the thing in op posted but well it isnt really that much as an issue
yet each people would have their own corresponding reasoning or views towards thing.On the question itself if the price would not reach new ATH?
Who the hell would able to know such stuff? no man will able to know on whats the future but if we do presume out that it cant already able to reach those levels
then people or majority will continue on using it via payment and other transactions and yes you can possibly do it with fiat but having more options is better.

I probably would want to hold my value in anti inflationary things because if BTC can only stay the same amount in USD or go down that is not a good store of value.
Its convenient for payments sometimes but not really idk the time min block time and no one willing to take 0 confirmation transactions kills it for utility
At this point Bitcoin has lost a lot of utility in being better money for convenience and cost transaction fees are high now.
the one thing it still has is its a great store of value like gold

The opinion of the whales is important in terms of determining the price, but the opinion of ordinary users (who are the majority) is decisive in terms of the prospects - if no one needs a tool, then no whales can do anything with its price.

As for the representativeness of the survey, then I completely agree with you. Maybe we can make some rough estimates if you compare the volume of transactions (throwing out large ones) with the total capitalization?

I wonder who and why answered "I dont know". Are these two persons without their own opinion ?

Personaly, I've chosen first option. If it doesnt help me to make money, then why would I use it? Payments - I can still use fiat savings - same fiat, trades can also be made with stock and bonds. Stay anonymous - we have monero and other shitcoins

This would of course be interesting, this would give even more insights about the possible outcome of the situation I described with a long time without ATH. Obviously if whales were mostly in the "No" group, and the "No" group is the biggest one, then you can expect a much deeper crash.

But to know that would require a much more complex poll. I don't see that really possible without an online panel mechanism. The current number of answers is also far too low to draw any conclusions from it.

It would be interesting to know the "weight" of these opinions. I mean what assets each of the groups of voters owns. The likelihood that speculators own most of the bitcoins and view them as a means of earning money, but not as a means of payment.

Many people doesn't seems to be believe that w could reach that for now since we don't have any clear insight since we are facing a big economic challenge right now, Although many people are not believing it for sure there's still hope coming since I believe this things will came up when people will see some new hype coming from it. So best to deal with the current price and make a move on the current market movement to gain.

Image or poll results shows that majority doesnt really mind off too much about ATH yet its importance is shown via its usage or utility.
Im not saying that price isnt important but people here on this community do knows on what they're dealing with.

It would be surely more clear if I wrote only "buy Bitcoin" in the poll. But: If you use Bitcoin in most possible ways, you acknowledge it has a value. "Using" Bitcoin in any way means also "buying" in the sense of exchanging something for it, only not necessarily fiat. For example, bounty participants are "buying" Bitcoin with the service they provide. Even mining can be seen as a way to "buy" Bitcoin. In this case there is no personified seller, but you would only mine if you think Bitcoin has a value, and you provide something (hashing) for the mining rewards.

Reformulated, the poll question could be: Do you acknowledge Bitcoin has a value even if it doesn't reach a new ATH?

This is important because of the points I explained before to @traderethereum and @buwaytress. Basically, because the size of the groups that answer this question in a certain way, determinates in part what could happen with Bitcoin's price in the future.

The only "use" case that doesn't involve exchanging Bitcoin (and thus, acknowledging its value) is when you got Bitcoin for free in some way, for example if you mined with your CPU or used a faucet in 2010, and now you're spending the coins without re-buying. This special case is however not very frequent, so I didn't add an extra answer option for it.

Bitcoin is simply permissions money. It is totally pointless what value one coin have. You use Bitcoin to exchange goods. At least I do, I totally dont get it why others dont.

I am not sure because that is what my friend said to me at that time.
We don't know what people do right now, whether they still buy bitcoin or not. But if I have a lot of money, I will buy more bitcoin because that will be a hidden gold for me.
Yes, I still hold it like you, but if the price is down below, I will buy some amount and sell it again once it's increasing.
Many of us hope the price will be stable at $15k or $20k, but the price does not touch that price, but I am sure that it will go to that price soon.

I do not think that people here who are old enough to understand the importance of a crypto world would ever care about the price for using it. I mean sure we can buy and sell and try to make a profit right now, but that is because we know that we can profit from it while trading it, that is why we do that and not stop because it can be done.

However if one day people came up and said that bitcoin will be 10k and never move again, become like a stable currency that will never move, I can guarantee you that people would definitely keep using it that way as well. Look at USDT, that is a crappy one that people do not even like and it reached to 10 billion dollars, that means people really want to use a stable one as well. So, go above ATH, or not go above ATH, people will continue to use crypto no matter what.

Wow 55% for this option "Yes, even if I don't earn money with it, e.g. for payments and savings" at the moment!
I hope this is relevant information about the whole community, as in this case we have fewer speculators than expected and more ideological participants.

Well, that was a clever idea and that is right, indeed.
If I have bitcoin too I wont tell to anyone or either if I wanted to buy bitcoin no one knows except me. For holders, they are very happy to see bitcoin is on ATH but the buyer will sad that they can jump in since if bitcoin will high the price and to the moon. No one knows when the ATH will come, --if you have enough budget, it is better to start accumulate right now. Every people expected that ATH will come after that halving was successfully done. But when it comes project ICO and holding token, I don't usually do.

Is there anything difficult in his question that you cannot understand? I sure have trouble understanding your point. Especially that last sentence.

Bitcoin is an investment which means many people buy it to sell later and profit. That's why many wouldn't buy it if they knew there would be no $50 thousand Bitcoin, ever.

I'd still use it and by it even as an investment because no ATH doesn't exclude the possibility of 20 thousand dollar bitcoin which is a 2x gain.