Bitcoin Forum

So more than 70% of bitcoiners are holding their coins and waiting for bitcoin price increase as per this thread ->  https://bitcointalk.org/index.php?topic=1159221.0

But my question lies on the fact that, will the bitcoin price actually rise up in future if there is very little involvement in bitcoin-fiat exchange since most people have their mindset towards saving them in cold storage ? I mean, without much involvement, how can a cryptocurrency gain it's economical value?

Since there are threats buzzing around with Bitcoin-xt, collapsing of bitcoin network due to release of faster ASICs that are stressing 1MB blockchains and reward halving upto 12.5BTC, will the bitcoin price rise at all in future ?

This is my way of thinking into bitcoin's future and that's why I thought of asking here, so without taking my words offensive, please correct me if I'm wrong :)

Bitcoiners love drama:

https://99bitcoins.com/bitcoinobituaries/


personally i keep some bitcoins in cold storage but it would be dumb when i would not use bitcoins because when i use it, i increase bitcoins value/utility.
for alot of people bitcoin is like gold. that is okay. even hardcore hodlers give bitcoin its value. with that value, business can create stuff on top of it.
you can even create other cryptos in top of bitcoin in the future "sidechains" (bitcoin= gold standard).

the truth is: you are an early adopter. imagine you were on the internet in 1995. back then most people didnt even know what email is  :)
when i started with bitcoin there was only bitcoin core and you had to wait 10 hours to make your first transaction :D - it took some imagination to see the bigger picture.

you should read and learn more about bitcoin and use these quiet times that we have at the moment
https://www.youtube.com/watch?v=g2nXgK34HIM (alot of good videos)

PS: i still want my indianacoins  :P

I am holding too, but for me, I'm in a pretty bad financial situation right now, there might come a time in the very near future where I would have to sell all my bitcoins, however little I may have.

Sure it will raise! If the usage and more people adopt it as a trade form, (like my local waffle house) the price will slowly raise and keep going. I personally don't think that $1000 will be reached any time soon, though $400 looks like it's close! Really, you shouldn't trade your BTC for fiat at all if you have an income (a miner) and a place to spend it to get food.

i think those majority that are holding are holding quite a few bitcoin, i doubt the very big players are holding every coins they have

one thing it's true, if the vast stack of all coins are in hold mode, no big investors can buy these coins, therefore there will be no price increase

How so? Holding keeps the price up, and the fewer coins that are available to buy, the higher the price. Big investors would just have to buy fewer coins, which in turn would drive the price up even more.

How is it others can't see it?!  This thing can't lose!

if everyone is holding how the hell the market will move it's not like if one day one coin is sold at 1k the others will follow, it does not work in this way

Even ignoring the spikes, https://blockchain.info/charts/n-transactions indicates the trend is for more transactions.  I do not doubt some people are holding; I am; but not everyone is holding.

that sucks dude   :-\

hopefully you can solve your problems. personally i would rather sell my car before i sell my Coins   :-X

Since the btc price has been on holding pattern around 230 since January 2015, I think it's safe to say we have reached an equilibrium between buyers and sellers. This will go on for a long time. Maybe the "Halvening" will drive up the price but I don't think it will stay up.

who needs a car when BTC magically teleport across the globe in seconds, right?

Well we have our opinion about the biticoin's future, there are people that are not very supportive about biticoin and it is not very popular yet but I'm pretty sure one day it will be widely used.

I'm not sure whats going to happen specially the coins, all we can do is to hope for the best in the future,

If trading isn't your fortay, then just keep up w/ the holding at this point. Things are going to take its toll as we mature, it's on you to deal w/ the in-betweens.

I guess people will still be holding, even if price goes to 500usd or 1000usd because they get greedy again. It is difficult to sell a well performing asset, even if you know deep down it will drop again (just the slight chance that it will do the opposite will keep you from doing that..)

after i invested in btc between the bubbles of 2013 there came summer vacation. i did not have enough funds for the big family camping adventure. i could have sold back btc but hell no... 

i ended up selling two seats of our car instead  :D

I think you have a point
however they may await the big players or entrepreneurs to raise the price of bitcoin, we do not know how many bitcoin them that they hold, may not be more than 10 BTC bitcoin is why they hold that they have

As long as people think it will rise even further then they will continue holding. Greed is another factor that will make people wait with selling even more.

dont worry ...
i think it will still go up..
since bitcoin users almost but not everyone will hold it.
there are many bitcoin users will sell their bitcoin.
when they saw the price is going down.
they are afraid of more failure.
but i know that it will take time for bitcoin to go up.

I personally are holding my coins in cold storage for at least 5-10 years, price doesn't matter that much at this point as I don't need the money. But that doesn't mean I won't trade Bitcoin throughout the comming years.

At this point there are enough coins in exchanges to maintain a healthy market. The price will go up if there is a reason for it, just have patience.

At least you have something you can sell for money. I've met many people who don't have any FIAT savings, just a little BTC.
And they are forced to sell that btc for current low price, that is not good. I think the best what we do now is to wait for the mid 2016, as I am sure halving will bring significant price increase.

It all comes down to supply and demand. When it's all said and done if people want Bitcoin, they will buy it, there will never be a problem with lack of supply since it's as divisible as we need it to be, so the price will skyrocket, that's all.
Does Gold crash because people stop using Gold to buy groceries and just hold it instead? same thing, but with Bitcoin is even better.

Yes the Bitcoin price will actually rise up in future.

There are enough Bitcoin-fiat exchanges. And they have enough liquidity.

When more infrastructure will be build, people will also fell more comfortable spend Bitcoins.

It is all matter of time once the many merchants begin to accept trade in Bitcoin physically not only online all doubt will be cleared.One thing is sure bitcoin will be much more valuable than now in future.

We should let people do with their bitcoins (their money) as they wish to. I don't get why force someone to spend if he doesn't want to. Let the people hoard, who cares. We should be thankful to the hoarders as well since they are at least here, in the Bitcoin ecosystem. There are millions and millions people out there that are not spenders nor hoarders. There are not even in Bitcoin. These are the people that we should be after. Them we need to pull into the Bitcoin ecosystem.

Good point Mikeyb ! Btw, we "bitcoiners" need to make those type of people aware of this ecosystem. Since its inception, many traders have emerged (https://en.bitcoin.it/wiki/Trade) into this ecosystem, so we should encourage the unknowns through various campaigns & make them involved, rather than just buying and hoarding the coins! IMO, this would at least make some impact on the overall market-demand & somewhat increase its value :)

for that to happen there has to be much more trust from the merchants in bitcoin. accepting bitcoins online is easy. buying a tv worth $1000 in a store with bitcoin is a different story. they will require you to wait for at least 1 confirmation, which can take quite an hour.

IMO, 1 confirmation is not needed nowadays since you won't be able to double spend any amount through all the convenient wallets available as the coins will already get deducted as soon as you confirm your payment to the respective merchant.

P.S. You can only double spend through this kind of hot wallets => https://blockchain.info/address/1Ebb8NfVmKMoGuMJCAEbVMv2dX8GnzgxSa
and I doubt in 2015 anyone would waste his time, solo mining ;)

Deflationary currency will be only used when it has to be.. It is consistent with nashes ideal money concept where money is expected to be stable or increase rather than decrease. Ideal money always wins.

Atleast materialism dies! Yay!

Without the development of the infrastructure to actually encourage people to use bitcoin to actually pay for something, you won't find demand creating upward pressure on the price. With people hoarding, price can only move up if more and more hoarders decide to buy into the coins.

You kind of contradicted yourself there. Hoarders buying into coins = demand = upward pressure on price.

Velocity really determines price

The best thing to note here is "hoarding", "popularity" & "credibility". As more and more people try to hoard coins there'll be an increase in demand since it's supply is limited. Moreover, it's popularity and credibility is the most important factor behind it's price rise. Thus, to balance it's economical condition, we bitcoiners need to maintain the 3 key factors if we ever want a spike in it's graph! :)

Real demand comes not from hoarding, but from increased adoption leading to bitcoin-denominated goods and services.
We have to strive for that to be achieved.

70% people holding their coins is no surprise. We've basically done nothing but come down for 18 months.

Meh, I'm currently holding for price increases and for the future as well. I don't see that a 10> bitcoin holdings would affect the entirety of bitcoin that much.

Wasn't implying that.

I am implying that most people who are holding are likely doing so from averaging down as the price has tumbled all year.

If you're in a position where you can just sit and hold it then its probably better off to do that.

Might be a little jump, then a dump into the new year? Look at the charts around this time last year.

Well if you are implying that whales will need Fiat to buy Christmas presents to their ladies, then yeah, the dump might be happening. :)

However, we really don't have a clue what will happen, none of us here!

That doesn't mean whoever is controlling the market isn't watching what people are doing.