Quote from: cybersofts on April 09, 2018, 11:49:12 PM

Quote from: shamzblueworld on October 31, 2017, 04:35:50 PM

What will happen if people just stop buying bitcoin? Will bitcoin be as usable as now Or will it be a step towards the end?

How will the market value react to it, people wanting to sell bitcoin but there is no one to buy.

If the people stop buying bitcoin the value of bitcoin will be next to zero.
The bitcoin has value because people are buying bitcoins and if people stop buying then bitcoin is going back to zero.

It is the same with gold, or your real money coins. The only reason they have any value at all is because people trust in it to be worth something in the future as well. So as long as there is a broad userbase to bitcoin that is believing in it and sometimes invest fiat into it, it will always have some value. Gold just has been in this position for hundres of years with literally no use at all except for looking expensive, while Bitcoin has just arrived and has lots of uses. In the past, your fiat money was linked to the gold price, that's usually not the case any more. Which means: the banks can print as much as they want, and voilá you have the biggest reason why bitcoin is alive today: people don't want pay ridiculous fees for everything, and as soon there is a currency which can't be controlled that easily by moneygrabbing banks, and makes them somewhat redundant in some areas, and that's a great thing. A really great thing. When I grew up, there where banks EVERYWHERE. Every tenth house was a bank. In every bank they had shitload of people with suits working to steal your money. And every direction away from that is awesome. That's why I love the Bitcoin Cheesy