If no one spends bitcoin what might happen?

[QuestionAuthority]

Nothing would happen. As far as I can tell no one spends it now. Everyone is just holding for a price increase.

[Chuzzlewit]

what proportion of bitcoin is actually spent? i'm gonna guess that it's not very much. using it for shopping and all is cool but i think it's a little bit of a sideshow. most of the action is trading it and speculating.

the bigger question is if no one speculates on bitcoin what might happen?

I think this is the closet to reality.
Very few people spends bitcoin outside of the BTC world TODAY.
I have yet to replace any FIAT transaction with BTC.

[LucioTan]

Nothing would happen. As far as I can tell no one spends it now. Everyone is just holding for a price increase.

True, the fact that if everyone is holding bitcoin. Then the supply will be limited and in effect. The market price will increase. If we do that maybe the price of bitcoin will climb up to $1400 or higher. Then many will grab this opportunity to sell their coins for a higher profit. Then chain reaction wil happen causing its price to dump again.

[patronis]

Share your ideas here.  

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.

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.

BTC is only worth what people think its worth though, its not physical like gold but its anonymous unlike fiat, if people stop spending then the value is bound to fall. However since there are so many people interested in BTC, when it falls people are likely to buy in thinking that this may be their last shot to which will bring the price up and most likely relight the spending/buying cycle.

[hase0278]

Nothing would happen. As far as I can tell no one spends it now. Everyone is just holding for a price increase.

I think I would have to disagree with you since not all bitcoiners hold their bitcoins now some convert it to fiat and some use it to buy some things on deepweb as I am talking. Well if no one will really spend bitcoin there there wouldn't be a price increase or decrease I think since it is a free market and it depends on buy and sell orders of those who want to buy and those who want to sell.

[Omegasun]

of course it will collapse. hahaha.the volume if btc will inflate because miners is still on going and the price will decrease because too many supply. its simply the  rule of supply and demand in ecomics

[mishra1994]

Nothing would happen. As far as I can tell no one spends it now. Everyone is just holding for a price increase.

Well man I think I would have to disagree with you since not all bitcoiners hold their bitcoins now some convert it to fiat and some use it to buy some things on deepweb as I am talking. Well if no one will really spend bitcoin there there wouldn't be a price increase or decrease I think since it is a free market and it depends on buy and sell orders of those who want to buy and those who want to sell.

Yes only those people hold bitcoins who have good amount of bitcoins with them.Because holding small amount for a large amount of time is just a time waste for me.Mee to earns little bit bitcoins so i generaly bet with them or convert them to fiat.
And back to question then nothing would happen the price wont change and it will remain as it is.

[ethereumhunter]

Nothing would happen. As far as I can tell no one spends it now. Everyone is just holding for a price increase.

True, the fact that if everyone is holding bitcoin. Then the supply will be limited and in effect. The market price will increase. If we do that maybe the price of bitcoin will climb up to $1400 or higher. Then many will grab this opportunity to sell their coins for a higher profit. Then chain reaction wil happen causing its price to dump again.

i really waiting when the price of bitcoin will climb up to $1400 and i think this could be happen in next month or in early of next years, just maybe and maybe, all could be happen, and if the price is really jump up to $1400, then altcoin will come up to follow the rate of bitcoin.

i really hate if i see on the chart, the price of bitcoin is stuck like this, slow down, slow up, but in other side, altcoin jump to the moon.

[Xester]

Well some people will always spend money, if a big proportion of people don't use it, its price will increase until it reaches an equilibrium point.

If no one spends bitcoin then there will be no movement. If there are no movement in the market it means nobody are selling and hence nobody can buy. It simply means that price will be zero because bitcoins value depend on stock order, or the ask and bid. So if bitcoin will have no value then it may lead to death of bitcoin. But of course it will not happen.

[sotoshihero]

If no one spends bitcoin then there will be no movement. If there are no movement in the market it means nobody are selling and hence nobody can buy. It simply means that price will be zero because bitcoins value depend on stock order, or the ask and bid. So if bitcoin will have no value then it may lead to death of bitcoin. But of course it will not happen.

Thats another scenario, but we cant ignore bitcoin now. There are already thousands of transactions per minute.

But, If no one spends bitcoin? Paypal and other online financial institutions will benefit or there is another bitcoin like financial instrument to come out. People will find a way to innovate,to discover something that beneficial to all

[mafgwaf@gmail.com]

It will not happen. Every day bitcoin has too many transaction its impossible that people will not use bitcoin unless the internet will cut in the whole world. That is the only reason why no one spend bitcoin

[Superbitzz]

of course it will collapse. hahaha.the volume if btc will inflate because miners is still on going and the price will decrease because too many supply. its simply the  rule of supply and demand in ecomics

i am not agree with you. i think when people will not spent bitcoin. then they are going to hold it. if they are going hold it and no one is ready to sell or spend then the demand will increase and definantly the price of bitcoin will also increase. on other side the halving have a great effect of miner they are no more interested in mining so the supply will decrease and there will be shortage of bitcoin so the demand will increase the price will also increase.

[romero121]

In my view if none spends bitcoin directly, the circulation of bitcoin gets decreased which keeps the price movement stable or decreased. To avoid and make bitcoin towards the increasing side everyone needs to spend at least a little amount periodically.

[calkob]

it would be useless and would quickly be abandoned

[Edwardard]

in a simple clean language, "if no one spends bitcoin then the bitcoin will die". but its next to impossible imagining that bitcoin would die due to this reason. inspite of that i think that a bright future for bitcoin is coming.

[Mvaporis1961]

In my opinion. If no one spends bitcoin it means that there's a bit decrease on circulation which can result on price increase of bitcoin because of the demand on market.

[bravehearth0319]

If nobody spends bitcoin, well for sure all bitcoin enthusiast will go down and the price value will go down too.
But in my assesment as there is a bitcoin buyer it will still be exist, increasingly the price also.

[FLoving]

I think if no one will use bitcoin then there will be no any bitcoin in the market and with that none of the business will feel that they will get the clients with bitcoin so they will also leave bitcoin and so bitcoin will go to the destruction, I will say we have to use bitcoin as a normal currency for our needs.

[Leonard2016]

what proportion of bitcoin is actually spent? i'm gonna guess that it's not very much. using it for shopping and all is cool but i think it's a little bit of a sideshow. most of the action is trading it and speculating.

the bigger question is if no one speculates on bitcoin what might happen?

I think this is the closet to reality.
Very few people spends bitcoin outside of the BTC world TODAY.
I have yet to replace any FIAT transaction with BTC.

i don't know, you may be right about this but i have always tried and actually prefered to spend bitcoin instead of fiat anywhere i can.

for example as soon as steam added bitcoin payment to their system i started using it instead of using any other method and have already spent around $100 there

[Yutikas_11920]

of course it will collapse. hahaha.the volume if btc will inflate because miners is still on going and the price will decrease because too many supply. its simply the  rule of supply and demand in ecomics

Right, because the law of the world economy using the formula uniques would be expensive and goods that have a lot of supply is going to be cheap. Bitcoin may also be bound in such laws.