Topic: Would you still use Bitcoin if it stabilised at around USD$5000? - page 5. (Read 1453 times)

I think I would continue to earn bitcoin but moving fiat money to bitcoin would be useless because it would still have value the same with fiat since it doesn't rise. Many people are putting their money in bitcoin hoping that its value will increase in the future but it would just be useless if it would stay the same. Maybe I would still use bitcoin because during that time because maybe the big companies will finally adopt bitcoin as payment option since it is stabilized and the reason they are not adopting it for now is because if its volatility which is both an advantage and disadvantage of it.

If somehow ,theoretically in an opposite dimension of the universe,the price of bitcoin stabilizes, it'll lose a lot of attention.
Many bitcoiners are into it because they like the concept of decentralization and that their money is safe in case banks run out of money or a national financial crisis happens like what happened in Greece.

But the number of people who are just into investing and making money out of it is much more. I'd basically be the first one to buy other altcoins which had chance to go up more (you never said all crypto will be stable ? )

But if we just imagine that all crypto prices are frozen forever then I'd just cash out. Whatever amount of money I make in btc would be traded for USD.

So many people would even leave the whole scene since they just get profits from trading.

Basically bitcoin's price goes up and down and we love it the way it is.

Theoretically, by definition of an investment, the situation of Bitcoin price stabilizing at $5,000 for an undefined amount of time is impossible. Since there are limited quantities, and it is a tool that can be used as a transfer of value between two or more individuals, the value of it will inevitably fluctuate. Can we predict that buy and sell orders will be constant through all periods, including those of turmoil and excitement? No.

You have to look at the fundamentals of Bitcoin to truly make theoretical assumptions about where the price can go. There is a limited quantity of BTC that will ever be mined and user adoption is still in its early stages. The price is already quite "expensive" for the average onlooker.

Another big benefit that I don't think was mentioned here is the occurrence of hard forks, which are essentially dividends for Bitcoin holders. So even if the price stays around $5000 you will still make a good return on your investment. This is a little-known fact most people forget about.

From the standpoint of who owns Bitcoin, it is the miners and the large financial whales (like the Winklevoss twins), these are the people who are either creating supply or driving demand through the media  

So, essentially over the long run most people are going to be buying up Bitcoins and saving them as investments - thus driving up the value in the process. And those in possession of it get to benefit from hard fork dividends that can be reinvested into BTC.

I am a bitcoin supporter for life regardless of its market value, most people think today that bitcoin is a form of an asset or a stored value hoping that it would inflate in the year future as profit, with that mindset you are defeating the purpose of bitcoin. It is a digital currency that everybody hardly understand, it is a from of electronic payment for online transaction in peer-to-peer basis. Bitcoin was created to be isolated from any inflation of World's economy, just like the 2008 U.S. economic crisis.In reality bitcoin can't establized at 5000 USD in a long period of time, the hashrate difficulty to mine bitcoin as it is a power-intensive task is the most justifiable means to declare the real value of bitcoin.

This. I'd still use bitcoin too but would not invest on it anymore since the value is fixed.

The scenario given was very hypothetical, but is impossible due to bitcoin's volatile and decentralized nature. But if that were the case, then I see no reason for me to buy bitcoins anymore because bank investments would be more superior and safer option if bitcoin's price were to be stable. One of the reasons on why people invest into bitcoin is because they want to take advantage of its volatility, which in return, can yield them profit in long term investments. Like the example given, he sees bitcoin as an alternative payment for his future plans by investing in it.

even though the bitcoin price reaches 5000 $, I will continue to invest in bitcoin. because I'm sure the bitcoin price will not go back to the beginning .. I will wait at 10,000 $. don't know how long that will happen.

Yes! To those who can afford especially the rich in capital still they will buy bitcoin even it is expensive to purchase because the next speculation value for the next year was between %5000 to $10000 mark so it still a big gain for all investors but for the poor in which very low in capital still we can invest to altcoin which is affordable and trade it to bitcoin so that we can still be on board for the next year speculation without spending to much fiat.

I currently exchange bitcoins with fiat currency because I want to move my stock to the world of plantation industry, which has a clear future for the long term.

You conclusion is flawed. Bitcoin is volatile and it will not stay at a certain price, in your scenario, $5000. Second, If you knew that it would stable, then why you are going to moved your fiat to Bitcoin? It doesn't make sense to me.

As for the store of value argument, yes I would agree that it was not in the original proposal of Satoshi. He put bitcoin as a  system for electronic transactions without relying on 3rd party trust. Its a "A Peer-to-Peer Electronic Cash System". But I think you can still used bitcoin as micro-payment scheme. The only reason that is not being used as what Satoshi want is that it hasn't been been accepted yet in the online market. That's why it became as somewhat as investment platform or store of value for most of us.

I'll still moving on because $5k is big enough when converted into our local currency. And still a big profit even though it stop in that certain amount. But I don't believe that it could stick for long in that amount and it could probably change anytime.

Yes, I will used it if I needed something important to those I’ve earned. It is not the past now that bitcoin makes you a millionaire for past 3 years. It doesn’t even cheaper now, so why bother to HODL all when in real life you badly needed them most.

I doubt also that bitcoin will stable in the near future, it is not controlled by anyone but only by demand and supply that can change in a matter of seconds. And if it stagnant to 5000$ does anyone want to go bitcoin, I don’t think they will. The unstable price of bitcoin is one reason we’re earning anyways.

That's a good question. I probably would continue to use Bitcoin because of what it stands for. I probably wouldn't buy anymore of it because there would be other coins in time that could surpass it in value and provide a great store of value.

Why would i convert my fiat money to bitcoin if i know that its price is stable and will not even go higher? Maybe some people will still be using bitcoin because they want its features and capabilities like paying or sending/receiving money in a fast and secured way. But for me, i will not buy a large of amount of bitcoin if i know that i will not gain any profit in the future.

Many people will buy bitcoin even at high price because they know for themselves that bitcoin will go up high after many years. Who would know if it hits 1000000 usd. As I was saying, many people will aboard the train to the moon because btc might go high.

Interesting question, because if bitcoin would become more popular (which I hope), it automatically implies that the price should go up.
This question of yours means that there will not be a growing interest in bitcoin.

If I know now that in the future there will be not more interest, why would I spend more time and/or money in it? I love crypto's because I think they are the future. If there is no future for bitcoin, what is the point?

I've been thinking about why people use Bitcoin a bit lately and its long-term potential.  It used to be touted as an alternative to fiat currency, and in fact, the future of currency.  Now it seems that people are talking about Bitcoin more as a store of value - a place to keep your money safe that is not a bank or an institution.  I know a lot of us invest in Bitcoin more for the perceived increase in value; basically, a lot of us want to get rich.

Here's my question:  Would you still continue to move your fiat currency to Bitcoin if it topped out at around USD$5000 and you KNEW it would not go higher, but you also KNEW it would not dip in value?  Maybe we could assume it would rise with inflation.  If this were the case would you be more or less likely to move your money to Bitcoin?