Post
Topic
Board Bitcoin Discussion
Re: If no one spends bitcoin what might happen?
by
neochiny
on 15/07/2016, 07:13:22 UTC
Share your ideas here.   Grin

In my opinion, I think we will be stuck in one price or maybe worse we will all go down.

Here is what happened when US citizens are saving too much.

Quote
That's important because American spenders make up the majority -- about 70% -- of economic activity in the country. If people don't spend, the economy doesn't grow.

Check it out here


The price will go down because people will lose interest in bitcoin if it happens. That is why though it is good to hold bitcoin, it is still hurting its economy if no bitcoin is used for purchase. It is good if there is more merchandisers that will adopt bitcoin so that more will be encourage to use and spend bitcoins.
It is a finite currency and I think it will still hold value if no one uses it. It would be a store of value, just like gold. If the reason that people are not using bitcoin is because they are holding it, then I think that will drive the price up because many would want to get a hold of something that continuously increase in value.

but in this case bitcoin is not like gold, gold is precious metal, but bitcoin is an online currency that can be replace by
fiat, if people started holding it bitcoins price will just drop. holding bitcoin and interrupting its circulation
will just affect bitcoin and nothing else, the price will not go up and will collapsed if held in a long time.