Re: If no one spends bitcoin what might happen?

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.

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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.

I think that it is impossible to think that no one will spen bitcoin. But if it happen , the price or the value of bitcoin will go down . Even if you say its fixed because like in fiat or tge system of money the rate or the demand is depende on the usage of people so it going to low the value. Maybe no one will do that because we all now that if you spend on bitcoin there is a positive effect on bitcoin users. It better to spen and earn at the same time.

Yeah, it is just I remembered when one country is trying to pursue the people to spend their fiats because everyone is trying to save a lot more than what they are spending.
I tried applying the idea to bitcoin if that will happen too. Actually I happened to see the answer and it will not really affect that much. Bitcoin is really different than what we are using now called money.