There is no big price move, and we don't know what stops the growth. If the entire world hasn't faced the pandemic the price might have moved to a new ath. This statement has been put forth based upon the speculation and expertise predictions made for the year 2020.
As of now most of the purchase of bitcoin is used into trading and for gambling. Very few have considered as an investment, maybe after a substantial price drop once again purchase considering it an investment will progress.
Topic: Would you buy/use Bitcoin if you knew its price would not reach a new ATH? - page 5. (Read 925 times)
July 13, 2020, 10:36:57 PM
July 13, 2020, 09:58:22 PM
Those who have the luxury to hodl btc will not engage in spending it for unnecessary things because of the thought that it will increase later on.
That is just simply false. If that was really the case, online services wouldn't be accepting bitcoin because it wouldn't be worth maintaining the payment method(just like what Steam and other services did). I'd even argue that bitcoin is a significant percentage of payments being used on some online services(especially VPNs and VPSs).
July 13, 2020, 07:24:34 PM
Those who have the luxury to hodl btc will not engage in spending it for unnecessary things because of the thought that it will increase later on. On my part, I also spend btc when it is only necessary. But it doesn't stop me to convert my btc to fiat if the situation calls for it. I think I still have the mindset also of holding my btc as much as I can for the hope that it will increase its value later on. And I guess most of us have that kind of perception.
If the possibility of future price increases is gone you're left with a cruel mistress with a few very useful qualities. That's not really going to be enough to keep most people on board. Traders may still keep playing with it. Most others will bail.
July 13, 2020, 06:55:09 PM
Well, I earn a bit of it at present so I'd continue to spend it while doing that. Once that's over then fuck no pretty much other than the odd thing like VPNs.
The volatility will still be there. If I was a trader then that may excite me. Since I'm not that was just bore me and lose money I was uninterested in losing.
The prospect of future ATHs is what keeps people engaged enough to sit through all the abuse BTC rains down on you. If that's gone then I'd prefer to direct my energy somewhere more productive.
The volatility will still be there. If I was a trader then that may excite me. Since I'm not that was just bore me and lose money I was uninterested in losing.
The prospect of future ATHs is what keeps people engaged enough to sit through all the abuse BTC rains down on you. If that's gone then I'd prefer to direct my energy somewhere more productive.
Those who have the luxury to hodl btc will not engage in spending it for unnecessary things because of the thought that it will increase later on. On my part, I also spend btc when it is only necessary. But it doesn't stop me to convert my btc to fiat if the situation calls for it. I think I still have the mindset also of holding my btc as much as I can for the hope that it will increase its value later on. And I guess most of us have that kind of perception.
July 13, 2020, 06:49:57 PM
Yes, the answer always has to be yes that BTC is useful and wanted for just what it is today. Even if price does rise alot Im not sure value will, I think we're going to see price changes related to inflation not value appreciation which means you gain only what you lost elsewhere really. It will probably occur that if dollar proves so awful at remaining a proper unit of account that other sectors of currency gain but I dont rely on BTC for that reason. I only want one thing, BTC is reliable and available to as many people as need it to transport their value globally and online to others, if it does we all assume the ATH will get higher but thats not my direct concern really. Worry about the protocol before the price imo.
July 13, 2020, 12:01:50 PM
Well, I earn a bit of it at present so I'd continue to spend it while doing that. Once that's over then fuck no pretty much other than the odd thing like VPNs.
The volatility will still be there. If I was a trader then that may excite me. Since I'm not that was just bore me and lose money I was uninterested in losing.
The prospect of future ATHs is what keeps people engaged enough to sit through all the abuse BTC rains down on you. If that's gone then I'd prefer to direct my energy somewhere more productive.
The volatility will still be there. If I was a trader then that may excite me. Since I'm not that was just bore me and lose money I was uninterested in losing.
The prospect of future ATHs is what keeps people engaged enough to sit through all the abuse BTC rains down on you. If that's gone then I'd prefer to direct my energy somewhere more productive.
July 13, 2020, 11:09:52 AM
Nice question. If bitcoin will not reach a new ATH in literally forever, yes I would still use bitcoin from time to time for online payments, but I probably wouldn't hold a significant amount of my wealth in it. Because if it's USD price would stop increasing, then it failed in the "hedge" category. At some point you might as well just hold USD because if for example BTC stays at $10,000 for 20 years, you still lost value due to inflation.
Yes, you'd still have self sovereignty, but it's definitely a lot less attractive.
Thankfully it's very possible for bitcoin to reach new ATHs.
Yes, you'd still have self sovereignty, but it's definitely a lot less attractive.
Thankfully it's very possible for bitcoin to reach new ATHs.
July 13, 2020, 09:43:01 AM
Edit: Poll was updated and reset. I apologize for all who have voted, but the original answer options were flawed. I think it's not too late as it ran only for a single day and some hours. Poll will stay open for about a month or until the thread dies.
This question has always interested me, but I've never seen a poll about it.
Would you use or buy Bitcoins, if you knew that the BTC price would not reach a new all time high in the forseeable future?
(Just to clarify: "No new ATH" doesn't mean that it won't grow anymore. But if there's no new ATH, from today's point of view, most you can expect is a duplication of the price.)
It would be cool if you post your reasons in the answer. Here are some examples. I'll also indicate which option you should select in every case:
- Yes, because I am a daytrader and don't care for ATHs (correct option: "Yes, as long as It helps me to earn money")
- Yes, because I am earning money as a freelancer with Bitcoin-related services or bounty campaigns (correct option: "Yes, as long as It helps me to earn money")
- No, because Bitcoin only makes sense for me if it sees mass adoption (correct option: "No")
- Only after a substantial drop, because then it can give me profits if price turns back upwards (correct option: "It depends, maybe after a substantial price drop")
- Yes, because I use it for other reasons (remittances, electronic commerce ...) (correct option: "Yes, also for payments and savings")
I will wait for some answers and post mine. It's obviously a question about sentiment, later I'll post some thoughts about the background of the poll.
This question has always interested me, but I've never seen a poll about it.
Would you use or buy Bitcoins, if you knew that the BTC price would not reach a new all time high in the forseeable future?
(Just to clarify: "No new ATH" doesn't mean that it won't grow anymore. But if there's no new ATH, from today's point of view, most you can expect is a duplication of the price.)
It would be cool if you post your reasons in the answer. Here are some examples. I'll also indicate which option you should select in every case:
- Yes, because I am a daytrader and don't care for ATHs (correct option: "Yes, as long as It helps me to earn money")
- Yes, because I am earning money as a freelancer with Bitcoin-related services or bounty campaigns (correct option: "Yes, as long as It helps me to earn money")
- No, because Bitcoin only makes sense for me if it sees mass adoption (correct option: "No")
- Only after a substantial drop, because then it can give me profits if price turns back upwards (correct option: "It depends, maybe after a substantial price drop")
- Yes, because I use it for other reasons (remittances, electronic commerce ...) (correct option: "Yes, also for payments and savings")
I will wait for some answers and post mine. It's obviously a question about sentiment, later I'll post some thoughts about the background of the poll.
Jump to: