If everyone is hodling, how can bitcoin be used for mass adoption?

[Genemind]

Holding is an investor's choice. It's our strategy to earn a good profit. Spending Bitcoin doesn't mean that we could contribute to a massive adoption. What we need is acceptance from huge companies and businesses. Massive adoption doesn't come only from investors.

[Pamadar]

I hear this argument a lot and they always say that a deflationary currency isn't good for an economy.  Many think that bitcoin will act more as a store of value similar to gold instead of being a daily currency in the future.

Which will be most for investment purposes and not as a currency which intended to be, with more and more people who's trying to understand and wanting to invest with this market, for sure it will continue being treated like that, it will be as an investment opportunity for people who will continue to support and try holding enough amount of coins.

[automaticmoney]

Those who are holding bitcoin are now booking profits and gain once the coin drops they are buying back so in this way crypto traders are gaining price margin in buy and sell

[serjent05]

Seeming as everyone is hodling, how do we plan to bring bitcoin to mass adoption?
https://youtu.be/C17-TpYxQwY

Do not worry too much, adoption is on its way that makes holders of Bitcoin forced to spend them or sell them.  Even if only 1 Bitcoin is for sale,  there will be 100,000,000 units of satoshi available to market.   The increase in value will be tempting so that those who holds them will eventually sell their BTC.   Besides there is other factor that influence the adoption of Bitcoin not just Bitcoin itself being available in the market.  That factor includes, advertisement, regulations and government acceptance.  Advertisement and government acceptance brings more impact than Bitcoin being available in the market IMHO.  See crowdfunding system, people buy and support the project even the project itself is non-existent.

[joinfree]

Well the reason why most people are holding unto their bitcoins is because there are not much marketplaces that have built into their payment systems to accept cryptocurrencies and so many crypto enthusiasts are holding their bitcoins as an asset. The future seems bright however as there are many online platforms that have plans on accepting cryptocurrencies.

[muratsink]

I see that speculative using of BTC always increases every time. 
and crypto adoption in the market always developing because it is driven by the utility offered, then the crypto market also always be a place to save assets from inflation.

[felicita]

i doint think that everyone is holding.
There are many "investors" how buyed bitcoin in the last weeks just to sell them later with profits.
So the Question is how long will they hold.


regards

[Ayiranorea]

I am asking me this Q:   
If everyone is holding.... and the last block is mined, supposing that on the planet earth there are more than 21mil millionaires, and each of them as a status of symbol would like to have at least 1 BTC
There will be no chance to serve them all

When the last block is mined and still people continuing to keep hold without making it get used the demand will increase. What we hold will surely get into the market at some point, if there isn't any possible whales will manipulate. This manipulation will create panic and make small volume holders to release to the market.

[jak3]

First of all, I will like to say it is impossible that everyone on Earth is going to hold every single Bitcoin available on the network(not including the Lost Bitcoins). This sounds like what is all the people go to the bank to withdraw their money, of course, the banks will be closed if that happens. But if all the Bitcoins are held by individuals then the network is gonna destroy as there will be no miners and no exchange to control the price of Bitcoin.

[jameswell]

Mass adoption does not mean that everyone should spend Bitcoin for daily purchase. For my case, hodling the BTC already means that I have adopted BTC, because my need is to use BTC as a means of "store of value" instead of "medium of exchange" and BTC perfectly fits my need.
  

[Denton]

In order for bitcoin to be used as a means of payment, it needs to be stable. Of course, people are in no hurry to spend it, because everyone wants to make money on it. And when he's stable, then everything will start to use bitcoin for payment.

[Vinalians]

Adoption we are talking about the involvement of bitcoin in our economy and in our daily activities. There are so many factors when comes into that. Like taxes and transportation. Education and especially for government acceptance.
Bills that can be paid using crypto will be faster and much easier and that's how I look at what adoption will looks like in the future.

[stompix]

How can you say everyone is holding? We have now a 24h volume of $20.687.254.431, which is 20 billion dollars being negotiate every day.

Few stores accept BTC for now, so it´s not easy to use it as payment method for now...

You just proved his point.
That's what he said, 1.3% is used for buying stuff, rest is for in and out of exchanges (trade).

Mass adoption doesn't mean everyone will trade but that everyone will use it to buy stuff, at least that's my opinion.

The supply cap and speculative investment aspects discourage spending, but they don't mean no one wants to spend Bitcoin. The network hit > 400,000 confirmed transactions in a day a few weeks ago. Clearly, there is growing transaction liquidity.

We also hit 450k during December, and this wave kind proves that the increasing number of transactions has more to do with price swings that real life usage.
Another point would be that during the first semester of 2018 we actually had fewer transactions than during 2016.

Unfortunately, it is not possible to count LN transaction growth, that would be probably a better indicator of how purchases via BTC are evolving.
 

[serjent05]

I am asking me this Q:  
If everyone is holding.... and the last block is mined, supposing that on the planet earth there are more than 21mil millionaires, and each of them as a status of symbol would like to have at least 1 BTC
There will be no chance to serve them all

When the last block is mined and still people continuing to keep hold without making it get used the demand will increase. What we hold will surely get into the market at some point, if there isn't any possible whales will manipulate. This manipulation will create panic and make small volume holders to release to the market.

I believe the rule of supply and demand is autocorrect due to the value fluctuating whenever each side is tampered, forcing the other side to give in.  In an example of people hoarding BTC, the price of Bitcoin with increase in demand will skyrocket that will tempt holders to give in and sell their Bitcoin.  Likewise, when the holder does not give in, interest and demand will surely diminished causing the price to go down that will give holders a sense of panic and eventually release their valued BTC creating an influx of supply.  This stuff  always happen in the market, that universal law is within that system to make sure that no matter how hard people manipulate the market, there is always a balancing factor to even things out.  So I believe there will be enough supply of Bitcoin whether as a whole or as a part in the market to enable the use for mass adoption.

[bhabygrim]

Can we finally admit that bitcoin is probably never going to be used for day to day payments? Can we finally switch to the idea that bitcoin is more like gold than anything else and stop this idea of ''mass adoption''? It's already adopted by a lot of people and companies but what more do we really want? It's not profitable for smaller companies to accept bitcoin, what do they gain from it? How are they going to deal with the volatility?

Yes it is already been adopted but I think we want to see it being used as one ,
There are some like me who want's to see it being used as a regular currency for payments .
But how could we see it if there are some who doesn't really wants to use it that way?

[maydna]

I don't think like that because I am sure that the mass adoption will happen no matter it is for a long time or in a short time. Not just bitcoin that is growing the adoption but the altcoin will have the same thing. If bitcoin cannot be used for the transaction then perhaps, there are altcoin that will help bitcoin to make the transaction so the cryptocurrencies will be a new currency.

But I don't believe that every people who have bitcoin will only want to hold their bitcoin without spending to buy something because that will make sense if they don't have much of bitcoin in their wallet, so they prefer to hold it until the price increase so high. But for people who have much bitcoin, they will spend to buy many things, and that will make bitcoin circulation continue, and the network still operates.

[Chikitita2004]

Can we finally admit that bitcoin is probably never going to be used for day to day payments? Can we finally switch to the idea that bitcoin is more like gold than anything else and stop this idea of ''mass adoption''? It's already adopted by a lot of people and companies but what more do we really want? It's not profitable for smaller companies to accept bitcoin, what do they gain from it? How are they going to deal with the volatility?

Exactly. Even when bitcoin was not yet as widely adopted as it is today we’ve seen it succeed already, it means that bitcoin doesn’t really need total adoption for it to reach the sky in value and besides, not everyone wants it to be used as coins from their purse to pay basic necessities in a daily basis. I really do think we must accept it as it is, it doesn’t prevent bitcoin from becoming the king of crypto by the way like this.

[automaticmoney]

One of the main reason for the mass adoption of bitcoin is the number of merchants come forward to accept bitcoin automatically turns up for mass adoption the same thing happened in Japan

[big_daddy]

One of the main reason for the mass adoption of bitcoin is the number of merchants come forward to accept bitcoin automatically turns up for mass adoption the same thing happened in Japan

almost every new product/service is first adopted in Japan, than in Asia and Pacific region, Latin America & Russia, US, and so on... the last regions of adoption of new products/services are Europe & Canada

[Pursuer]

you can't say "everyone" is like this because you don't know and you have not actually asked everyone! there are lots of people that are spending their bitcoins and if you look at some of the stats that these payment processors release you can see what I mean. for example Bitpay is always releasing a huge yearly growth in both the number of merchants they added to their network and also the amount of money they have processed which is exactly the money that people are "spending" through their services. and that is in the millions and only in Bitpay, there are other payment processors and also a lot of merchants directly accept bitcoin.