Topic: Would you buy/use Bitcoin if you knew its price would not reach a new ATH? - page 4. (Read 925 times)

I think you can join the number 1 and 2 into 1 part which will be like this "Yes, as long as it helps me to earn money and using it for payments and savings" because I think when we earn money from bitcoin, at least we use bitcoin for payment because we buy and sell bitcoin in any price.
If the option is like that, I am vote number 1, but if still like what I see now, hm I am vote number 1: "Yes, as long as it helps me to earn money."
So both numbers 1 and 2 will be better if it's joined as one part.
The rest of the options will be okay, and I don't think it's necessary to change.

I think this is wrong. There are bounty hunters who are definitively interested in Bitcoin. But there are others who would also participate if the payment was done in e.g. PayPal and the contributions would be about ... let's say, cooking

But the current signature campaigns in this forum are for contributions related to Bitcoin (some for altcoins or tokens, but it's at least a related topic, and most if not all altcoins/tokens wouldn't exist if Bitcoin wasn't there). So you earn money "from it", meaning that Bitcoin is necessary for this kind of income. Maybe however I should formulate it in this way:

- Yes, as long as it helps me earning money

I have changed and reset the poll. I apogize to all who have answered it before, but the original poll was flawed. So please vote again (if you want).

Being paid in bitcoin does not count as earning money from it, imo. It's a payment for a service rendered, and can be made in different currencies.
On the issue of signatures, as long as the forum is a recognized means of advertising, it would be used. Spikes in Bitcoin price usually creates more traffic, but in general there are lots of members here really interested in discussing about it (there would likely be a drop if bitcoin loses its speculative value).
Paying for service rendered (like promotions) will fall under this category, and signature campaigns would as well. So I don't think the poll is flawed

The fact that members here accept payments in Bitcoin is also one of the motivations to hodl it. I doubt many would be interested in dropping their bank account details or using some other payment channel which would require personal details to register.

Bitcoin is still volatile. So, yes I would still buy Bitcoin during a significant drop, and use it (for spending or converting it back to fiat.) when the price rises. More of like short trading.
I guess this scenario would bring more negative impact to the long term hodlers. Not with the regular users who make transactions through Bitcoin as much as possible.

This is actually a good question to differentiate how people are seeing Bitcoin; is it just an investment to earn good profit, or a global currency as well?

The objective of this poll is to know about all possible use cases. Trading is among the use cases I want to include, because trading an asset recognizes, in a way, the value or utility it has. You wouldn't trade an asset if it was worth nothing. Trading is actually only another way to exchange a BTC with another asset, like "usage as a currency".

One of the ideas which lead to this poll is the sentiment, among many Bitcoiners, that price will reach new heighs in a forseeable future. An example for this sentiment is the stock-to-flow ratio, the posting of Moon pictures/memes, and so on.

What is interesting for me is to know if this sentiment is necessary to maintain Bitcoin afloat, which would be true if the "dream of getting rich" is still the main use case. In this case, if the Bitcoin price stabilizes for a long time (or goes lower and stays low) many "Bitcoiners" would cease to use it. If this was true, then Bitcoin would be always in danger to disappear if there is no

I think, however, that the current iteration of the poll has a flaw. I suspect the results for now (overwhelming majority voting for "yes") is mostly representative for those who participate in signature campaigns - those will, obviously, continue to use it as long as they earn money with it and this profit is competitive with other sources of income. I should have added two different options - an example could be:

- Yes, as long as I can earn money with it
- Yes, as a consumer

The second option would then be the one for those using it for payments and for savings if their goal is stability. I'm however also not completely happy with these two options because option 1 would leave out traders and merchants, too. I'll think about it a bit, and maybe restart it with other options.

I am not using bitcoin for its price? I mean I do get that some people are actually using it for pure trading and making more fiat. But you do realize that bitcoin is a currency right? Like it is not some stock market share that you buy and sell to make a profit and that is all it is good for? I think it is quite important to realize that bitcoin, even without any outside fiat currency help, is worth something.

Just to give an example, if you remove all fiat in the world, you could basically sell an apple for 50 satoshi, you could sell a computer for 1 bitcoin, you could basically use bitcoin purely as a currency without needing to use anything else like "x amount bitcoin is 100 dollars" type of understanding. So yeah, I would definitely use bitcoin even without price going up or down.

I could say that I'm so used to it of spending whatever the price is although I already did hid some for the future so I don't have to worry for what is coming. And I think most people would do the same thing just as I did since Bitcoin is also a currency that we need to spend in order to circulate. Traders on the other hand might as well doing the same thing that I did. Fiat is also a big help for my daily expenses but there are things in online that needed to pay with Bitcoin.

I'm not really into hoping to these another ATH will happen again (well, +) or not, I always buy/spend my BTC for some personal reasons.

Buy = Trade
Spend (if really necessary) = Usage

As always, my fiat income will support all my expenses (including BTC accumulation). If there will be a time that I need to spend my BTC, then that's it especially on my trip where mobile banking sometimes fails.

There is still a lot of money to earn even if Bitcoin doesn't crack up to a new ATH. If we look at the prices now and how Bitcoin moves people can still gain 200-300% from it when it drops significantly. Yeah basically hodlers will be screwed if they are looking for new figures but if you are a user and a trader I think you won't really be affected by this at all.

The high volatility of Bitcoin is one of the interesting parts and major reasons why many buy it.  Even if it does not reach its ATH or create any new ATH, the idea of getting profit on its high volatility market makes me wanna buy it.  And about using Bitcoin, I believe the price should be out of the question.  We can use BTC no matter how much its price is.  As one of the earlier reply stated, those who use Bitcoin do not trade it for profit sake but for exchange of the product with the equivalent value.

Why are buy and use interchangeable?

By definition, traders don't actually use Bitcoin, and users don't actually trade. They do sell, and hold, and grow it, but that's not the same as trading as they typically keep earning or having enough to spend, but they don't sit on exchanges watching price movements. Opportunities arise and if it's convenient, users take advantage (buy in the dip).

Buy should be interchangeable with earn. Guys like me earn our bitcoin now, we don't ever buy them;)

I would definitely buy Bitcoin,because:
1.There are some ways to make profits out of Bitcoin trading,that aren't directly connected to the Bitcoin price.For example,buying gift cards with BTC on Paxful and reselling those gift cards for profit.Some Bitcoin vendors on Paxful are making 8-15% consistent profits out of this and the BTC price fluctuations doesn't matter.This is more like a business,rather than crypto day trading.I consider crypto day trading to be more like a 9/5 job,but without the guaranteed income.
2.I would buy BTC when I'm expecting a decent price growth(not ATH).I'm not greedy and don't consider myself an experienced trader,so I can't predict a possible new ATH.Bitcoin price will most likely stay volatile forever,so there will be more ups and downs,price crashes and bull rallies,which leaves huge potential for new profits.

Yes, I still would but with a different perspective. ATH is just another thing but the btc usage is what it made significant for me. You know... the transactions I have to make without compromising the identity of one another, the same time the ease of just hitting the send button compared on going to several places just to make the payment successful.

Besides it was always been uncertain if bitcoin price would be able to hit ATH again but it doesn't exclude much people away with bitcoin. Apparently, there are some who left but those who knew the utility it has, somehow, still keeps them in this rare industry. And yeah, making a profit out of trading is an additional thing though.

I voted Yes, been buying/earning bitcoin in 2017 and I have used it literally like a currency to pay my basic needs up to this day. Of course a new ATH will be great and have been an upside specially if you have bought and then the price suddenly jumps some X%. And I think people will continue to buy despite the price going somewhat stable. It's been a stable for investors, specially when we talk diversification.

Yes, I will still use bitcoin and buy bitcoin, especially if the price can go down. And if there is no new ATH that will happen, I am no problem with that because I use my bitcoin as the investment, which means, I will sell my bitcoin if the price increases are so high. But I don't want to use bitcoin in the online payment because bitcoin is too worth for me to just use for the payment.

I use bitcoin for trading to make more money and for the investment side, but I don't use bitcoin as the payment transaction. I believe that in the end, bitcoin prices will increase. No matter how long it will happen, we will see that in the future.

If I didn't think a bubble could be right around the corner, I'd probably use/spend BTC a lot more often. The potential upside leads to a real hoarding mindset.

Sounds nice actually because if you knew this for a fact, you could make a killing swing trading the never ending range.

I wonder what Tom Lee would look like if someone said that Bitcoin will never reach ATH again, I think all Tom Lee customers would take their money and invest in other assets. This is to say that most people invest in bitcoin because they dream of making a 5X profit.

to answer your question, I don't care about ATH because I don't do hodl

If the price doesn't reach a new ATH is the foreseeable future, that could signify a certain level of stability in the price. Volatility has prevented lots of outlets from accepting bitcoins as a means of payment and those who do, usually use payment processors. If the price however became more stable, this could increase adoption and give Bitcoin more practical uses while still maintaining its core values, hence an added incentive to hold.
So I'll definitely still hold bitcoins. It can still be used for instant transactions, to anywhere in the world. Citizens of developing countries who may want to escape inflation in their country, like what happened in Zimbabwe, can easily hold their assets in other currencies, asides their local fiat, without going through the hassles of creating a domiciliary account.

The absence of speculative value would draw more light to its various applications.

well i bought my first bitcoin in 2014 (aka the year of bitcoin drop from $500 to $150) and continued buying, earning, accumulating and spending it ever since because it was a global decentralized currency that wasn't subject to any kind of restrictions such as US sanctions, didn't need any KYC and in short nobody had their hands in my pocket.
the "price rise" has always been the additional incentive for me and even if it were removed i still continue as before (buying, earning and using) since nothing else has changed about bitcoin.

Yes, I would. And for several reasons. One is that I would still make some nice profit as compared to storing my money in banks. Another reason is that it is so much better to save your money in Bitcoin rather than let it sleep in fiat. That is just like burning its value away. Not to mention that time might come your money in a bank will become harder to prove ownership to unless all kinds of proof and documents are submitted.

But I have this belief that $20,000 as an ATH is too low.