If everyone start storing bitcoin and there is no single transaction for days,all miners will quite mining as without transaction there would be no reward.
Will it not kill bitcoin and make it useless?
Will it not kill bitcoin and make it useless?
Okay, let's assume that there is that "zero" transaction. Then the supply will be lesser that will make the demand higher. But in reality, this is a very impossible thing to happen. And miners will always be there, as a matter of fact there is no bitcoin user that isn't holding. Most of us have some bitcoins that are keeping, so it won't kill bitcoin.
No, the supply isn't there. Since all of us will hold, there's no movement and supply in the market. And we know on how the law of supply and demand goes on. But it's hard to think that there would be zero transaction for real and I guess the miners will not actually depend on the block rewards and confirmation of the transactions.
Only storing bitcoins will definitely has bad effects but this is something which is unrealistic. It cannot happen that all the trasncatiosns are stopped and there is no movement on blockchain making it impossible for miners to earn
We are just assuming only "IF" and most of us knows what will happen if most of us are going to hold. But still I'm looking into to two points, good and bad. Good just like the way I explained it and bad with the way that will kill bitcoin because of there is no zero progress but if there are people that are keep on looking for it bitcoin won't be drop dead easily.