Would you buy/use Bitcoin if you knew its price would not reach a new ATH?

[d5000]

Edit: Poll was updated and reset. I apologize for all who have voted, but the original answer options were flawed. I think it's not too late as it ran only for a single day and some hours. Poll will stay open for about a month or until the thread dies.

This question has always interested me, but I've never seen a poll about it.

Would you use or buy Bitcoins, if you knew that the BTC price would not reach a new all time high in the forseeable future?

(Just to clarify: "No new ATH" doesn't mean that it won't grow anymore. But if there's no new ATH, from today's point of view, most you can expect is a duplication of the price.)

It would be cool if you post your reasons in the answer. Here are some examples. I'll also indicate which option you should select in every case:

- Yes, because I am a daytrader and don't care for ATHs (correct option: "Yes, as long as It helps me to earn money")
- Yes, because I am earning money as a freelancer with Bitcoin-related services or bounty campaigns (correct option: "Yes, as long as It helps me to earn money")
- No, because Bitcoin only makes sense for me if it sees mass adoption (correct option: "No")
- Only after a substantial drop, because then it can give me profits if price turns back upwards (correct option: "It depends, maybe after a substantial price drop")
- Yes, because I use it for other reasons (remittances, electronic commerce ...) (correct option: "Yes, also for payments and savings")
 
I will wait for some answers and post mine. It's obviously a question about sentiment, later I'll post some thoughts about the background of the poll.

[mk4]

Nice question. If bitcoin will not reach a new ATH in literally forever, yes I would still use bitcoin from time to time for online payments, but I probably wouldn't hold a significant amount of my wealth in it. Because if it's USD price would stop increasing, then it failed in the "hedge" category. At some point you might as well just hold USD because if for example BTC stays at $10,000 for 20 years, you still lost value due to inflation.

Yes, you'd still have self sovereignty, but it's definitely a lot less attractive.

Thankfully it's very possible for bitcoin to reach new ATHs.

[gentlemand]

Well, I earn a bit of it at present so I'd continue to spend it while doing that. Once that's over then fuck no pretty much other than the odd thing like VPNs.

The volatility will still be there. If I was a trader then that may excite me. Since I'm not that was just bore me and lose money I was uninterested in losing.

The prospect of future ATHs is what keeps people engaged enough to sit through all the abuse BTC rains down on you. If that's gone then I'd prefer to direct my energy somewhere more productive.

[STT]

Yes, the answer always has to be yes that BTC is useful and wanted for just what it is today.    Even if price does rise alot Im not sure value will, I think we're going to see price changes related to inflation not value appreciation which means you gain only what you lost elsewhere really.     It will probably occur that if dollar proves so awful at remaining a proper unit of account that other sectors of currency gain but I dont rely on BTC for that reason.   I only want one thing, BTC is reliable and available to as many people as need it to transport their value globally and online to others, if it does we all assume the ATH will get higher but thats not my direct concern really.   Worry about the protocol before the price imo.

[Twinkledoe]

Well, I earn a bit of it at present so I'd continue to spend it while doing that. Once that's over then fuck no pretty much other than the odd thing like VPNs.

The volatility will still be there. If I was a trader then that may excite me. Since I'm not that was just bore me and lose money I was uninterested in losing.

The prospect of future ATHs is what keeps people engaged enough to sit through all the abuse BTC rains down on you. If that's gone then I'd prefer to direct my energy somewhere more productive.

Those who have the luxury to hodl btc will not engage in spending it for unnecessary things because of the thought that it will increase later on. On my part, I also spend btc when it is only necessary. But it doesn't stop me to convert my btc to fiat if the situation calls for it. I think I still have the mindset also of holding my btc as much as I can for the hope that it will increase its value later on. And I guess most of us have that kind of perception.

[gentlemand]

Those who have the luxury to hodl btc will not engage in spending it for unnecessary things because of the thought that it will increase later on. On my part, I also spend btc when it is only necessary. But it doesn't stop me to convert my btc to fiat if the situation calls for it. I think I still have the mindset also of holding my btc as much as I can for the hope that it will increase its value later on. And I guess most of us have that kind of perception.

If the possibility of future price increases is gone you're left with a cruel mistress with a few very useful qualities. That's not really going to be enough to keep most people on board. Traders may still keep playing with it. Most others will bail.

[mk4]

Those who have the luxury to hodl btc will not engage in spending it for unnecessary things because of the thought that it will increase later on.

That is just simply false. If that was really the case, online services wouldn't be accepting bitcoin because it wouldn't be worth maintaining the payment method(just like what Steam and other services did). I'd even argue that bitcoin is a significant percentage of payments being used on some online services(especially VPNs and VPSs).

[romero121]

There is no big price move, and we don't know what stops the growth. If the entire world hasn't faced the pandemic the price might have moved to a new ath. This statement has been put forth based upon the speculation and expertise predictions made for the year 2020.

As of now most of the purchase of bitcoin is used into trading and for gambling. Very few have considered as an investment, maybe after a substantial price drop once again purchase considering it an investment will progress.

[Fundamentals Of]

Yes, I would. And for several reasons. One is that I would still make some nice profit as compared to storing my money in banks. Another reason is that it is so much better to save your money in Bitcoin rather than let it sleep in fiat. That is just like burning its value away. Not to mention that time might come your money in a bank will become harder to prove ownership to unless all kinds of proof and documents are submitted.

But I have this belief that $20,000 as an ATH is too low.

[pooya87]

well i bought my first bitcoin in 2014 (aka the year of bitcoin drop from $500 to $150) and continued buying, earning, accumulating and spending it ever since because it was a global decentralized currency that wasn't subject to any kind of restrictions such as US sanctions, didn't need any KYC and in short nobody had their hands in my pocket.
the "price rise" has always been the additional incentive for me and even if it were removed i still continue as before (buying, earning and using) since nothing else has changed about bitcoin.

[Upgrade00]

If the price doesn't reach a new ATH is the foreseeable future, that could signify a certain level of stability in the price. Volatility has prevented lots of outlets from accepting bitcoins as a means of payment and those who do, usually use payment processors. If the price however became more stable, this could increase adoption and give Bitcoin more practical uses while still maintaining its core values, hence an added incentive to hold.
So I'll definitely still hold bitcoins. It can still be used for instant transactions, to anywhere in the world. Citizens of developing countries who may want to escape inflation in their country, like what happened in Zimbabwe, can easily hold their assets in other currencies, asides their local fiat, without going through the hassles of creating a domiciliary account.

The absence of speculative value would draw more light to its various applications.

[Slow death]

I wonder what Tom Lee would look like if someone said that Bitcoin will never reach ATH again, I think all Tom Lee customers would take their money and invest in other assets. This is to say that most people invest in bitcoin because they dream of making a 5X profit.

to answer your question, I don't care about ATH because I don't do hodl

[exstasie]

If I didn't think a bubble could be right around the corner, I'd probably use/spend BTC a lot more often. The potential upside leads to a real hoarding mindset.

Sounds nice actually because if you knew this for a fact, you could make a killing swing trading the never ending range.

[maydna]

Yes, I will still use bitcoin and buy bitcoin, especially if the price can go down. And if there is no new ATH that will happen, I am no problem with that because I use my bitcoin as the investment, which means, I will sell my bitcoin if the price increases are so high. But I don't want to use bitcoin in the online payment because bitcoin is too worth for me to just use for the payment.

I use bitcoin for trading to make more money and for the investment side, but I don't use bitcoin as the payment transaction. I believe that in the end, bitcoin prices will increase. No matter how long it will happen, we will see that in the future.

[Yaunfitda]

I voted Yes, been buying/earning bitcoin in 2017 and I have used it literally like a currency to pay my basic needs up to this day. Of course a new ATH will be great and have been an upside specially if you have bought and then the price suddenly jumps some X%. And I think people will continue to buy despite the price going somewhat stable. It's been a stable for investors, specially when we talk diversification.

[Rosilito]

Yes, I still would but with a different perspective. ATH is just another thing but the btc usage is what it made significant for me. You know... the transactions I have to make without compromising the identity of one another, the same time the ease of just hitting the send button compared on going to several places just to make the payment successful.

Besides it was always been uncertain if bitcoin price would be able to hit ATH again but it doesn't exclude much people away with bitcoin. Apparently, there are some who left but those who knew the utility it has, somehow, still keeps them in this rare industry. And yeah, making a profit out of trading is an additional thing though.

[davis196]

I would definitely buy Bitcoin,because:
1.There are some ways to make profits out of Bitcoin trading,that aren't directly connected to the Bitcoin price.For example,buying gift cards with BTC on Paxful and reselling those gift cards for profit.Some Bitcoin vendors on Paxful are making 8-15% consistent profits out of this and the BTC price fluctuations doesn't matter.This is more like a business,rather than crypto day trading.I consider crypto day trading to be more like a 9/5 job,but without the guaranteed income.
2.I would buy BTC when I'm expecting a decent price growth(not ATH).I'm not greedy and don't consider myself an experienced trader,so I can't predict a possible new ATH.Bitcoin price will most likely stay volatile forever,so there will be more ups and downs,price crashes and bull rallies,which leaves huge potential for new profits.

[buwaytress]

Why are buy and use interchangeable?

By definition, traders don't actually use Bitcoin, and users don't actually trade. They do sell, and hold, and grow it, but that's not the same as trading as they typically keep earning or having enough to spend, but they don't sit on exchanges watching price movements. Opportunities arise and if it's convenient, users take advantage (buy in the dip).

Buy should be interchangeable with earn. Guys like me earn our bitcoin now, we don't ever buy them;)

[serjent05]

The high volatility of Bitcoin is one of the interesting parts and major reasons why many buy it.  Even if it does not reach its ATH or create any new ATH, the idea of getting profit on its high volatility market makes me wanna buy it.  And about using Bitcoin, I believe the price should be out of the question.  We can use BTC no matter how much its price is.  As one of the earlier reply stated, those who use Bitcoin do not trade it for profit sake but for exchange of the product with the equivalent value.

[Harlot]

There is still a lot of money to earn even if Bitcoin doesn't crack up to a new ATH. If we look at the prices now and how Bitcoin moves people can still gain 200-300% from it when it drops significantly. Yeah basically hodlers will be screwed if they are looking for new figures but if you are a user and a trader I think you won't really be affected by this at all.