problems with bitcoin holder

[requester]

75.9% ( 15,947,975 bitcoin) of the bitcoin is already mined so to circulate bitcoin all over the world there is only few bitcoin because many bitcoin user are holding bitcoin and waiting for price hike. So what would happen if the continue holding and we are left with only few bitcoin to circulate. So can it act as global currency or we need some modification.

[pooya87]

75.9% ( 15,947,975 bitcoin) of the bitcoin is already mined so to circulate bitcoin all over the world there is only few bitcoin beggar many bitcoin user are holding bitcoin and waiting for price hike. So what would happen if the continue holding and we are left with only few bitcoin to circulate. So can it act as global currency or we need some modification.

* this is a duplicate topic.
and you have no sense of what you are talking about. 16 million bitcoin is 10.4 billion dollar and there is still 5 million more bitcoin left to mine. and as long as there is a circulation there will always be someone who is selling and someone who is buying.

[croutonhexagon]

Yea it's obvious that many user hold bitcoin almost more than 50% user hold bitcoin for trading or to sell in higher price to make profit. But I am sure that 15 million bitcoin is enough to circulate all over the world because now bitcoin have pony few user and this much amount is enough for us. Along with demand it's rate will also increase so don't worry about its crisis. But holding money is not a good idea , come on guys let's use bottom not hold it.

[requester]

75.9% ( 15,947,975 bitcoin) of the bitcoin is already mined so to circulate bitcoin all over the world there is only few bitcoin beggar many bitcoin user are holding bitcoin and waiting for price hike. So what would happen if the continue holding and we are left with only few bitcoin to circulate. So can it act as global currency or we need some modification.

* this is a duplicate topic.
and you have no sense of what you are talking about. 16 million bitcoin is 10.4 billion dollar and there is still 5 million more bitcoin left to mine. and as long as there is a circulation there will always be someone who is selling and someone who is buying.

Dear pooya87, I am not talking about  how much 16 million bitcoin costs but i am saying that many user are holding bitcoin so for circulation we will have only few bitcoin left. And I also know that there will be obviously someone to buy and someone to sell bitcoin but as the demand will rise then we might face scarcity else its price will go sky and we will have to pay huge money to buy 1 bitcoin.

[Kakmakr]

This topic has been discussed over and over again, and people still ask this question. Make the calculations and you will find, that a bitcoin consist of 100,000,000 Satoshi's. So, if there are a low supply of bitcoins... each of these Satoshi's will also climb in value, with the bitcoin price. < Supply and demand >

You might find one day, that a Satoshi might be valued at 1 cent : 1 Satoshi and then there will still be more than enough Satoshi's to keep the global economy going for years to come. If it goes below that, we will have to shift the comma, and create a smaller unit than a Satoshi. 0.000000001 ^smile^

[requester]

This topic has been discussed over and over again, and people still ask this question. Make the calculations and you will find, that a bitcoin consist of 100,000,000 Satoshi's. So, if there are a low supply of bitcoins... each of these Satoshi's will also climb in value, with the bitcoin price. < Supply and demand >

You might find one day, that a Satoshi might be valued at 1 cent : 1 Satoshi and then there will still be more than enough Satoshi's to keep the global economy going for years to come. If it goes below that, we will have to shift the comma, and create a smaller unit than a Satoshi. 0.000000001 ^smile^

I like your answer, yes obviously when there will be less bitcoin in cryptocurrency market then we will have more competition and price of bottom will rise and at a time we will start using Satoshi as transaction unit and we also might have to pay 1$ for 1 Satoshi.

but my point was that instead of holding bitcoin user should circulate it otherwise there will be no use of using cryptocurrency.

[Invulner]

75.9% ( 15,947,975 bitcoin) of the bitcoin is already mined so to circulate bitcoin all over the world there is only few bitcoin because many bitcoin user are holding bitcoin and waiting for price hike. So what would happen if the continue holding and we are left with only few bitcoin to circulate. So can it act as global currency or we need some modification.

It's the same problem with every other currency - USD, GBP or whatnot. There will always be speculators. There will always be traders. There will always be people who actually use bitcoin as a currency.

Just let it be...

[Kakmakr]

This topic has been discussed over and over again, and people still ask this question. Make the calculations and you will find, that a bitcoin consist of 100,000,000 Satoshi's. So, if there are a low supply of bitcoins... each of these Satoshi's will also climb in value, with the bitcoin price. < Supply and demand >

You might find one day, that a Satoshi might be valued at 1 cent : 1 Satoshi and then there will still be more than enough Satoshi's to keep the global economy going for years to come. If it goes below that, we will have to shift the comma, and create a smaller unit than a Satoshi. 0.000000001 ^smile^

I like your answer, yes obviously when there will be less bitcoin in cryptocurrency market then we will have more competition and price of bottom will rise and at a time we will start using Satoshi as transaction unit and we also might have to pay 1$ for 1 Satoshi.

but my point was that instead of holding bitcoin user should circulate it otherwise there will be no use of using cryptocurrency.

Well my solution for this, is to hoard 80% in cold storage and to use 20% in online wallets for quick access to stimulate the circulation of available bitcoins. You have to remember, most merchants accepts bitcoins, but they convert these bitcoins back to fiat with the help of payment processors. < They do not hoard > So these bitcoins stay in circulation.

As the bitcoin price increase, people will start selling again. < Everyone has their sell price >

I will end this with a little joke to lighten things up :

A girl walks into a bank with a huge glass jar full of coins.

Bank Clerk : Did you hoard that, all on your own?
Girl : Nope, my sister and I had to hoar for it, every day. ^smile^

[clickerz]

It's the same problem with every other currency - USD, GBP or whatnot. There will always be speculators. There will always be traders. There will always be people who actually use bitcoin as a currency.

Just let it be...

Speculations affects the price of bitcoin too so with supply and demand. If all are holding,there is a possibility of bitcoin to rise because the demand is high or there is a possiblity of another coin to rise because the bitcoin users will have to used the alternative coin. That is only a possible scenario.

[Wapinter]

75.9% ( 15,947,975 bitcoin) of the bitcoin is already mined so to circulate bitcoin all over the world there is only few bitcoin because many bitcoin user are holding bitcoin and waiting for price hike. So what would happen if the continue holding and we are left with only few bitcoin to circulate. So can it act as global currency or we need some modification.

No modifications are required as Bitcoin can be split in 10,0000000 small units called Satoshi.If btc demand keep rising and supply is less for holding or other reason,bitcoin price will go so high that even 1 Satoshi would be worth something and people will start selling Satoshi for buying products or services even if they dont sell the whole coin

[ekoice]

There are still more Bitcoins yet to be mined. I think its fair enough for circulation of Bitcoins in the following years.Even though many hold Bitcoins for price to rise, still ther will be people selling and buying Bitcoins. So no need to worry about that.

[~Bitcoin~]

75.9% ( 15,947,975 bitcoin) of the bitcoin is already mined so to circulate bitcoin all over the world there is only few bitcoin because many bitcoin user are holding bitcoin and waiting for price hike. So what would happen if the continue holding and we are left with only few bitcoin to circulate. So can it act as global currency or we need some modification.

Even there are only few thousands bitcoin in circulation it can easily work as global currency as even 1 satoshi is transfarable however if supply get limited than price will be high for sure which will make bitcoin mining even more profitable. I don't know how you have predicted that majority of bitcoins that were mined are not circulating. 

[Soros Shorts]

So can it act as global currency or we need some modification.

What kind of modification? If you are thinking about increasing the 21M limit, then that would dilute the current holders' wealth and amount to theft which is not acceptable.

[amacar2]

75.9% ( 15,947,975 bitcoin) of the bitcoin is already mined so to circulate bitcoin all over the world there is only few bitcoin because many bitcoin user are holding bitcoin and waiting for price hike. So what would happen if the continue holding and we are left with only few bitcoin to circulate. So can it act as global currency or we need some modification.

- Nobody cares much about how much bitcoin is in circulation
- There is no need of modification to bitcoin network
- No need to blame any bitcoin whales for manipulation
- Bitcoin market is just like any other asset market where profit is based on supply and demand

[Denker]

75.9% ( 15,947,975 bitcoin) of the bitcoin is already mined so to circulate bitcoin all over the world there is only few bitcoin because many bitcoin user are holding bitcoin and waiting for price hike. So what would happen if the continue holding and we are left with only few bitcoin to circulate. So can it act as global currency or we need some modification.

Think about it!
What is going to happen when many people just hold their bigger stash of Bitcoin but demand on the marekt continues to rise?
I would say the price moves up!
And may move up a lot! Maybe we start to trade and pay in even small units of Bitcoin as we are doing now, who knows.
Holding is not wrong! It's the opposite. It brings more value to Bitcoin.Especially wealthy might see it as a safe haven and store of value or profitable future investment! Don't focus too much on the Bitcoin being a currency part!It's much more than that.

[Pro User]

75.9% ( 15,947,975 bitcoin) of the bitcoin is already mined so to circulate bitcoin all over the world there is only few bitcoin because many bitcoin user are holding bitcoin and waiting for price hike. So what would happen if the continue holding and we are left with only few bitcoin to circulate. So can it act as global currency or we need some modification.

I think some have already discused about this topic!


If there exists more buyers,  sure the price will rise more!

[groll]

Yea it's obvious that many user hold bitcoin almost more than 50% user hold bitcoin for trading or to sell in higher price to make profit. But I am sure that 15 million bitcoin is enough to circulate all over the world because now bitcoin have pony few user and this much amount is enough for us. Along with demand it's rate will also increase so don't worry about its crisis. But holding money is not a good idea , come on guys let's use bottom not hold it.

If they release their bitcoins right now, bitcoins value will surely fall. The reason bitcoins are being hold is for safekeeping for possible increase in price. Even if there are only 1 million bitcoin left there is no problem since the community will just adjust through adjusting the value. Even if there is only 1 bitcoin left the adjustment will be 600 $ to 1 satoshi, its just a market adjustments so theres no need to worry about holding.

[Labumi]

75.9% ( 15,947,975 bitcoin) of the bitcoin is already mined so to circulate bitcoin all over the world there is only few bitcoin because many bitcoin user are holding bitcoin and waiting for price hike. So what would happen if the continue holding and we are left with only few bitcoin to circulate. So can it act as global currency or we need some modification.

I thought it was something that became a bad thing for the users of the bitcoin, if they don't contribute in the growth of the bitcoin. For if it does happen then I'm sure the price will come down increasingly bitcoin due to shortage of bitcoin because most people prefer to keep price stability than holding bitcoin so as not to decline

[croutonhexagon]

It's not at all a good use of bitcoin because we gave cryptocurrency for using purpose not to become billionaire with bitcoin but we have this cryptocurrency for transaction world wide so that we can get ride of additional transaction fees which banks charges. So all bitcoin holder should think that holding bitcoin for long term is not a good idea rather he should buy and sell when price drops and rise respectively.

[Junko]

Hodling is just another term for "saving". Saving bitcoins for the future is a prudent thing to do, just like saving your regular fiat money is prudent. Spending your bitcoins willy nilly just for the sake of spending is just silly imho.