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

[harizen]

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?

I'm not really into hoping to these another ATH will happen again (well, +) or not, I always buy/spend my BTC for some personal reasons.

Buy = Trade
Spend (if really necessary) = Usage

As always, my fiat income will support all my expenses (including BTC accumulation). If there will be a time that I need to spend my BTC, then that's it especially on my trip where mobile banking sometimes fails.

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[Oceat]

I could say that I'm so used to it of spending whatever the price is although I already did hid some for the future so I don't have to worry for what is coming. And I think most people would do the same thing just as I did since Bitcoin is also a currency that we need to spend in order to circulate. Traders on the other hand might as well doing the same thing that I did. Fiat is also a big help for my daily expenses but there are things in online that needed to pay with Bitcoin.

[beerlover]

I am not using bitcoin for its price? I mean I do get that some people are actually using it for pure trading and making more fiat. But you do realize that bitcoin is a currency right? Like it is not some stock market share that you buy and sell to make a profit and that is all it is good for? I think it is quite important to realize that bitcoin, even without any outside fiat currency help, is worth something.

Just to give an example, if you remove all fiat in the world, you could basically sell an apple for 50 satoshi, you could sell a computer for 1 bitcoin, you could basically use bitcoin purely as a currency without needing to use anything else like "x amount bitcoin is 100 dollars" type of understanding. So yeah, I would definitely use bitcoin even without price going up or down.

[d5000]

Why are buy and use interchangeable?

The objective of this poll is to know about all possible use cases. Trading is among the use cases I want to include, because trading an asset recognizes, in a way, the value or utility it has. You wouldn't trade an asset if it was worth nothing. Trading is actually only another way to exchange a BTC with another asset, like "usage as a currency".

One of the ideas which lead to this poll is the sentiment, among many Bitcoiners, that price will reach new heighs in a forseeable future. An example for this sentiment is the stock-to-flow ratio, the posting of Moon pictures/memes, and so on.

What is interesting for me is to know if this sentiment is necessary to maintain Bitcoin afloat, which would be true if the "dream of getting rich" is still the main use case. In this case, if the Bitcoin price stabilizes for a long time (or goes lower and stays low) many "Bitcoiners" would cease to use it. If this was true, then Bitcoin would be always in danger to disappear if there is no

I think, however, that the current iteration of the poll has a flaw. I suspect the results for now (overwhelming majority voting for "yes") is mostly representative for those who participate in signature campaigns - those will, obviously, continue to use it as long as they earn money with it and this profit is competitive with other sources of income. I should have added two different options - an example could be:

- Yes, as long as I can earn money with it
- Yes, as a consumer

The second option would then be the one for those using it for payments and for savings if their goal is stability. I'm however also not completely happy with these two options because option 1 would leave out traders and merchants, too. I'll think about it a bit, and maybe restart it with other options.

[Oasisman]

Bitcoin is still volatile. So, yes I would still buy Bitcoin during a significant drop, and use it (for spending or converting it back to fiat.) when the price rises. More of like short trading.
I guess this scenario would bring more negative impact to the long term hodlers. Not with the regular users who make transactions through Bitcoin as much as possible.

This is actually a good question to differentiate how people are seeing Bitcoin; is it just an investment to earn good profit, or a global currency as well?

[Upgrade00]

- Yes, as long as I can earn money with it

Being paid in bitcoin does not count as earning money from it, imo. It's a payment for a service rendered, and can be made in different currencies.
On the issue of signatures, as long as the forum is a recognized means of advertising, it would be used. Spikes in Bitcoin price usually creates more traffic, but in general there are lots of members here really interested in discussing about it (there would likely be a drop if bitcoin loses its speculative value).

-Yes, as a consumer

The second option would then be the one for those using it for payments

Paying for service rendered (like promotions) will fall under this category, and signature campaigns would as well. So I don't think the poll is flawed

The fact that members here accept payments in Bitcoin is also one of the motivations to hodl it. I doubt many would be interested in dropping their bank account details or using some other payment channel which would require personal details to register.

[d5000]

Being paid in bitcoin does not count as earning money from it, imo. It's a payment for a service rendered, and can be made in different currencies.

I think this is wrong. There are bounty hunters who are definitively interested in Bitcoin. But there are others who would also participate if the payment was done in e.g. PayPal and the contributions would be about ... let's say, cooking

But the current signature campaigns in this forum are for contributions related to Bitcoin (some for altcoins or tokens, but it's at least a related topic, and most if not all altcoins/tokens wouldn't exist if Bitcoin wasn't there). So you earn money "from it", meaning that Bitcoin is necessary for this kind of income. Maybe however I should formulate it in this way:

- Yes, as long as it helps me earning money

I have changed and reset the poll. I apogize to all who have answered it before, but the original poll was flawed. So please vote again (if you want).

[traderethereum]

I have changed and reset the poll. I apogize to all who have answered it before, but the original poll was flawed. So please vote again (if you want).

I think you can join the number 1 and 2 into 1 part which will be like this "Yes, as long as it helps me to earn money and using it for payments and savings" because I think when we earn money from bitcoin, at least we use bitcoin for payment because we buy and sell bitcoin in any price.
If the option is like that, I am vote number 1, but if still like what I see now, hm I am vote number 1: "Yes, as long as it helps me to earn money."
So both numbers 1 and 2 will be better if it's joined as one part.
The rest of the options will be okay, and I don't think it's necessary to change.

[exstasie]

If people get paid in BTC, they are much more inclined to spend it. I can confirm from experience.

That's part of the trouble with the current economy: very few people generate BTC income, and it generally costs money to acquire BTC (trading fees and markups, banking fees). Why would anyone buy it just to spend it? Even if you remove the question of volatility, they would just be losing money, not to mention time.

There are exceptions of course, particularly in black and grey markets. DNM users obviously can't use fiat. BTC is superior for gambling transfers in countries where those businesses are illegal. Cannabis businesses often have trouble maintaining bank accounts and I've seen some of them encouraging the use of BTC. Schemes intent on tax evasion can also utilize BTC since it can obscure payment flows, avoid conventional tax reporting, etc. Cross-border remittance schemes intent on evading capital controls also come to mind. Privacy-minded stuff (porn and sex shops and the like) too. Basically anything that benefits from either censorship resistance or increased privacy can justify the use of BTC (and the costs incurred by acquiring it).

This stuff is difficult to quantify as a whole, and I don't think a forum poll will give you a realistic idea either.

[carlisle1]

Voted for Number 2 as that was indeed.

I am using Bitcoin For Payments and also for Investment as i believe inFuture of this Cryptocurrency.
 I have Missed My chance back then  so i am grabbing my opportunity now to hold this for long term.

Actually this helps me a lot this pandemic when my bills are getting paid using my  holdings for safer since the virus is really threatening .

[ralle14]

Before the poll was changed I voted for the first answer but now I went for the second answer since I use (or spend) Bitcoin in most of my online transactions. And I agree with extasie receiving Bitcoins encouraged me to spend no matter what the current price is. If I only get my Bitcoins through trading then i'd take the third answer since i'll probably be using other currencies more often than Bitcoin.

[dunnerjunge]

Yes i would use Bitcoin, i think i would use it more than regular, because the price is stable more or less. I would use Bitcoin as emerceny money on a paperwallet. Plus i would quit my bankaccount because i have no need for it, i pay the most stuff with Bitcoin only the goverment want fiat from me but i think there will be a solution to solve even this problem.

I never invested money in bitcoin with the hope that its value will rise. I want to control my wealth my self.

[jseverson]

I find this an interesting question because it made me question my motivations of being in the market lol. I voted the second option.

What I know for sure is that I won't sell what I currently have; I like the technology, I like where it can go, and I have zero expectations of BTC touching its ATH anytime soon again anyway. I don't think my spending habits will change either, since I only ever use it in cases where it's actually better/more convenient than fiat (VPNs, some transactions with friends overseas, etc.)

That being said, I'd probably also stop accumulating. If I'm keeping it just for the sake of having some untouchable experimental money, then I'd say I have enough for that. The uncomfortable truth is that long-term store of value is also an important Bitcoin use-case, so limiting its growth would also mean limiting its utility. There's also a certain risk-reward dynamic in keeping a significant amount of money in Bitcoin, and skewing that in such a way that the risk is no longer worth the reward makes it a no-brainer for people like me who don't necessarily hate "The System".

[buwaytress]

Why are buy and use interchangeable?

The objective of this poll is to know about all possible use cases. Trading is among the use cases I want to include, because trading an asset recognizes, in a way, the value or utility it has. You wouldn't trade an asset if it was worth nothing. Trading is actually only another way to exchange a BTC with another asset, like "usage as a currency".

One of the ideas which lead to this poll is the sentiment, among many Bitcoiners, that price will reach new heighs in a forseeable future. An example for this sentiment is the stock-to-flow ratio, the posting of Moon pictures/memes, and so on.

What is interesting for me is to know if this sentiment is necessary to maintain Bitcoin afloat, which would be true if the "dream of getting rich" is still the main use case. In this case, if the Bitcoin price stabilizes for a long time (or goes lower and stays low) many "Bitcoiners" would cease to use it. If this was true, then Bitcoin would be always in danger to disappear if there is no

I think, however, that the current iteration of the poll has a flaw. I suspect the results for now (overwhelming majority voting for "yes") is mostly representative for those who participate in signature campaigns - those will, obviously, continue to use it as long as they earn money with it and this profit is competitive with other sources of income. I should have added two different options - an example could be:

- Yes, as long as I can earn money with it
- Yes, as a consumer

The second option would then be the one for those using it for payments and for savings if their goal is stability. I'm however also not completely happy with these two options because option 1 would leave out traders and merchants, too. I'll think about it a bit, and maybe restart it with other options.

Yeah, it can't be a perfect poll in this sense, but then you could have different polls for a different target audience. And if you're really going for usage, then I think leaving out traders is fine (and most merchants settle in fiat anyway and don't see a single satoshi or have a wallet so they don't care) because traders don't need an ATH.

In fact, if you're wondering who cares about an ATH, it really is speculative holders only you're looking at. Then there's no point in asking if they'll use it, right?

I still have to say that in the context of Bitcoin, buy and use should be distinct. Buyers are traders, who are really exchanging Bitcoin for another currency, while users are exchanging it for goods and services.

Again, I use my case and many others like me, we don't buy Bitcoin, we earn it (I charge clients in Bitcoin). And we spend it, ideally, because we have to, regardless of price. So we're users as are our clients. The only time I use an exchange or trade p2p is when I need to sell it but ideally, I'd spend everything in btc if I could.

Which is why I say most altcoins don't have much use case beyond speculative trading.

[Oasisman]

If people get paid in BTC, they are much more inclined to spend it. I can confirm from experience.

I seconded!

Why would anyone buy it just to spend it? Even if you remove the question of volatility, they would just be losing money, not to mention time.

I completely understand what you have pointed out, and It absolutely made sense, but there are also instances when a person on the receiving end of a certain transaction only wants to have Bitcoin as a payment. Rare cases from people who are engaged into cryptocurrency, and that comes from my experience. The only difference was, I didn't need to buy Bitcoin since I have stashed a few fractions in my wallets.
Nevertheless, this situation is the same as the exceptions you mentioned below. The only thing is all of those transactions were illegal from the black market lol.

[mersal]

Yes for sure as long as it gives me financial freedom and also a speculative asset which gives somewhat earning opportunity rather than using a fiat which gets depreciated by its value from time to time.And also I will keep using bitcoins for gambling purpose no matter what value it is currently hanging at because crypto gambling is more convenient and lot of choices to choose from all around the world.

[el kaka22]

People are forgetting that the creation reason for bitcoin was to give the people power back on their own finances. Right now, governments control the economy and they are making it in a way that it is unfair to some people (poor usually or even middle class) but making it advantageous to be rich, if you are rich you are destined to stay rich unless you do something stupid and so insane and also go against the government.

This is why I think it is quite important that we should focus on the freedom part of bitcoin, that way we could always focus on bitcoin becoming something that would allow us to be powerful once again. That never has anything to do with ATH price or any price, it will always be like that at all prices and that is why we should never care unless we are in it just for profit.

[CryptopreneurBrainboss]

Lets take out the fact that bitcoin appreciate in price although which is one of the core reason I picked interest in participating in the movement. Still, bitcoin has served me in so many ways that irrespective of the price not appreciating or achieving new ATH I still would purchased them. Unfortunately I'm from a region that find it very difficult to get online approval from merchants or digital currency service providers across the globe but with bitcoin, I haven't experience such discrimination.

It make my online transactions more convenient and satisfactory since I won't have to wait for an interference or approval from third parties like other digital currency are known for, that would judge me based on my place of origin. You might never understood how valuable bitcoin is to we from this region, unless you have experience want we have gone through.

[bitbunnny]

Yes, I would. I'm involved with Bitcoin for eight years now and I never quit. And there were times when Bitcoin was not so successful and price was very low
But I beleive that Bitcoin is not only about price. Unfortunately there are very few Bitcoin enthusiasts left and although Bitcoin price is quite decent now and gives the chances for profit some appreciate Bitcoin only when it's above 10000$.

[milewilda]

People are forgetting that the creation reason for bitcoin was to give the people power back on their own finances. Right now, governments control the economy and they are making it in a way that it is unfair to some people (poor usually or even middle class) but making it advantageous to be rich, if you are rich you are destined to stay rich unless you do something stupid and so insane and also go against the government.

This is why I think it is quite important that we should focus on the freedom part of bitcoin, that way we could always focus on bitcoin becoming something that would allow us to be powerful once again. That never has anything to do with ATH price or any price, it will always be like that at all prices and that is why we should never care unless we are in it just for profit.

We should think up this way but it sad to know the fact that majority of people here that do engage with bitcoin or generally with crypto is just to make profits in the first place and only a few are really here when it comes to
full support when it comes to its actual usage and benefits without minding much on the money making opportunity that it gives which i do only consider as a bonus.
On the question if you would buy or use Btc if you do know that wont reach out such ATH then i would still make use of it without a doubt! Im not minding if it cant give out profit
and what matter most here is about that freedom part that you've been talking.