adultcrypto (OP)
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February 29, 2024, 01:41:53 PM |
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I have read several posts encouraging people to hold their bitcoin for the greater good of bitcoin and probably more reward in the future. I have also been able to buy some for myself and also holding. But there is this concern that usually pop up in my head anytime I am meditating and that is what will happen if everyone is holding their bitcoin and no one is willing to sell. This can possibly happen in the future when mining reward becomes too small. I know some people will say that miners will continue to mine and sell to sustain their business but when there is reduced selling, will mining still be a profitable business?
If this question appear dumb, please pardon me, I just need clarifications.
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Charles-Tim
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February 29, 2024, 01:52:39 PM |
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Everyone not want to sell? That is not possible. You will see people that want to sell. If the liquidity is reduced because of holding, the price will increase in a way you will see people that will continue to buy and sell. Know that some people are just traders and not holding all their coins or not holding anything coin at all but to just trade.
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Adbitco
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February 29, 2024, 01:54:08 PM |
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In as much as you think people aren't selling their bitcoin I will like to clear your doubt that people are heavily selling of their bitcoin, despite people using bitcoin as a store value or a reserved fund there are active people who are utilizing the purpose of bitcoin which is it's peer 2 peer values. So, always have this feeling that there are companies or institution who are paying their investors bitcoin or if they are ordering goods from other countries payment can be in bitcoin. I still need to draw your attention that people are trading bitcoin on forex, binary options and another broker out there so they need bitcoin for that to take effect. Wth all these I have explained tell how do you think no one will transact bitcoin?
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mocacinno
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February 29, 2024, 01:55:07 PM |
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I have read several posts encouraging people to hold their bitcoin for the greater good of bitcoin and probably more reward in the future. I have also been able to buy some for myself and also holding. But there is this concern that usually pop up in my head anytime I am meditating and that is what will happen if everyone is holding their bitcoin and no one is willing to sell. This can possibly happen in the future when mining reward becomes too small. I know some people will say that miners will continue to mine and sell to sustain their business but when there is reduced selling, will mining still be a profitable business?
If this question appear dumb, please pardon me, I just need clarifications.
miners get the block reward and the sum of the fees of all transactions in the block they've solved... Next to this, ASIC's become more and more performant. Coupled with the fact there are thousands of miners, there'll probably always be some miners for whom mining is profitable. Granted, the total hashrate might drop (so the difficulty might drop aswell), but having no miners at all doesn't seem plausible.
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Zaguru12
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February 29, 2024, 02:05:40 PM |
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First of all there will always be a trade of bitcoin as that’s how the law of demand and supply works but should there be a stagnant position then the price will remain the same.
After all bitcoin has been mined miners will have a reduce profit from the mining and so also as when there is a reduce sells or move of bitcoin from an address to address will also reduce the mining profits. But one thing is the hashrate will actually be reduced which is the reason why mining in the first place is expensive to run. But with everything at a low there wouldn’t be need of high power to run it.
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Gormicsta
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February 29, 2024, 02:14:37 PM |
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That is not a dumb question at all! In reality, it's an extremely important subject to explore, particularly as bitcoin and other cryptocurrencies gain popularity. If everyone holds on to their bitcoin and does not sell it, the value of bitcoin may fall gradually. This is because the demand for bitcoin would be reduced, and fewer individuals would be prepared to pay a higher price for it. It is possible that miners will not find it profitable to continue mining, which could have an influence on the overall stability of the bitcoin network. So, while holding onto bitcoin may appear to be an effective strategy for Bitcoin Investment, it is important to examine the possible repercussions. This is something that could potentially have a big impact on the bitcoin ecosystem, so it's definitely something to keep in mind.
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m2017
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keep walking, Johnnie
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February 29, 2024, 02:20:51 PM |
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I have read several posts encouraging people to hold their bitcoin for the greater good of bitcoin and probably more reward in the future. I have also been able to buy some for myself and also holding. But there is this concern that usually pop up in my head anytime I am meditating and that is what will happen if everyone is holding their bitcoin and no one is willing to sell. This can possibly happen in the future when mining reward becomes too small. I know some people will say that miners will continue to mine and sell to sustain their business but when there is reduced selling, will mining still be a profitable business?
If this question appear dumb, please pardon me, I just need clarifications.
This scenario would be possible if bitcoin were distributed among several large whales. There are a lot of players in this market, both big and small. Each of which will not allow what you voiced to be realized. In fact, this is impossible because the asset in demand will always be bought and sold. If we proceed from the law of supply and demand and assume that no one is selling bitcoin (and demand will only increase due to shortage), then the price of bitcoin will probably tend to the moon. Literally. And it will cost truly astronomical money. What is your concern? Are you worried that if you hold bitcoin yourself for a long time, and others follow the same example and won’t sell (no one at all), then you won’t be able to sell bitcoin at a good price?
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CageMabok
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February 29, 2024, 02:20:58 PM |
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I have read several posts encouraging people to hold their bitcoin for the greater good of bitcoin and probably more reward in the future. I have also been able to buy some for myself and also holding. But there is this concern that usually pop up in my head anytime I am meditating and that is what will happen if everyone is holding their bitcoin and no one is willing to sell. This can possibly happen in the future when mining reward becomes too small. I know some people will say that miners will continue to mine and sell to sustain their business but when there is reduced selling, will mining still be a profitable business?
If this question appear dumb, please pardon me, I just need clarifications.
I don't think that's a silly question because Bitcoin miners also have a way of measuring the profits they get from the mining they are doing or have done so far so they will continue to do this as their business as long as there is still profit they can get from it. That. And when sales start to decrease, of course the effect will also be there, such as the effect of increasing prices which will continue in the market so that there will be more holders and those who believe in Bitcoin will also continue to increase every year.
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kryptqnick
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February 29, 2024, 02:32:54 PM |
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If nobody was willing to sell Bitcoin, Bitcoin would be worthless because that would mean no Bitcoin in circulation, no liquidity. So it's actually good that there are plenty of people buying, selling, trading, gambling with Bitcoin, etc. When nobody's willing to buy, it means there's no actual supply of it to meet the demand (if there's any demand), there's no financial dynamic, so Bitcoin would essentially be dead in that scenario (assuming that miners also hold their newly mined coins). But I don't think this can realistically happen in the future, Bitcoin has great liquidity.
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aoluain
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February 29, 2024, 02:43:01 PM |
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If nobody was willing to sell Bitcoin, Bitcoin would be worthless because that would mean no Bitcoin in circulation, no liquidity. So it's actually good that there are plenty of people buying, selling, trading, gambling with Bitcoin, etc. When nobody's willing to buy, it means there's no actual supply of it to meet the demand (if there's any demand), there's no financial dynamic, so Bitcoin would essentially be dead in that scenario (assuming that miners also hold their newly mined coins). But I don't think this can realistically happen in the future, Bitcoin has great liquidity.
Absolutely, there will always be people selling out of necessity and by mistake, meaning newbie traders or traders who make wrong moves. There is no way that "everybody" is HODLing 100 percent of their Bitcoin forever. Miners alone will have to sell a percentage of their reward in order to pay for operational costs. The perceived problem hasnt arisen so far over the last 3 halvings. We also should consider that there are times of shorter supply because of Bull markets and funnily enough not the most opportune time to buy and times of plenty of liquidity in times of Bear markets which is a great time to buy!
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Dr.Bitcoin_Strange
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February 29, 2024, 02:47:04 PM |
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One thing is sure in the Bitcoin market, which is that there will always be so many "buy orders" from day to day and from time to time. On many centralized exchanges, there are traders who have already set a sell price of $70k+, while others have also set a higher price. What happens is that if perhaps the market is a bit stagnant at one price and an investor really needs to buy bitcoin, they have no choice but to buy with the order that is less expensive on the sell orders book, and if the least order was placed at $70k, which they end up buying, the price of bitcoin will jump to be $70k. There will always be an equilibrium between the price of bitcoin and the last sell order. If everyone is holding and there is supplous demand or unlimited buyers, then this will only trigger a high price.
The mining business will still be profitable for solo miners, as they will still earn significant rewards upon completion of the process within the network.
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Plaguedeath
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February 29, 2024, 02:58:54 PM |
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Let's imagine if that happens, it means you will see many people are put their offers by increasing the money they're willing to buy the coins. The market will full of buy order or green texts.
But, is every person who own Bitcoin not want to sell his coins? I really doubt with that.
Such thing could happen if only few people owns all Bitcoins.
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FatFork
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Crypto Swap Exchange
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February 29, 2024, 03:02:32 PM |
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I have read several posts encouraging people to hold their bitcoin for the greater good of bitcoin and probably more reward in the future. I have also been able to buy some for myself and also holding. But there is this concern that usually pop up in my head anytime I am meditating and that is what will happen if everyone is holding their bitcoin and no one is willing to sell. You make a fair observation. There's some truth that if all Bitcoin holders just cling to their stash instead of selling any, it could disrupt the market balance. Bitcoin's value depends on basic supply and demand, just like any other tradable asset. If no ones selling to satisfy buyers, prices could skyrocket. But that spike probably wouldn't last forever and the market tends to even out eventually with the cost settling into a new balance that fits with how supply and demand shift over time. This can possibly happen in the future when mining reward becomes too small.
Even when mining reward becomes too small we will still have transaction fees. I know some people will say that miners will continue to mine and sell to sustain their business but when there is reduced selling, will mining still be a profitable business?
Reduced selling means less Bitcoin on the market, which can impact its price. If the miners are not able to sustain their business, some of them will probably stop mining, this will affect the difficulty on the network, which will consequently lead to more earnings for the miners who remain until a new equilibrium is reached again.
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moneystery
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February 29, 2024, 03:08:45 PM |
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it would not be possible for everyone to hold bitcoin together and not want to trade it. there will definitely be a buying and selling process that occurs in the market, because not everyone who holds bitcoin is for long-term investment, there are definitely those who trade it in the short term or there are holders who sell their bitcoin for whatever reason.
moreover, holders have different thoughts on bitcoin. so when there are many people who say "just hold your bitcoin" it will not be possible for all bitcoin holders to actually hold it, other holders will have different thoughts on this.
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nakamura12
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February 29, 2024, 03:33:27 PM |
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Mining would still be a profitable business even when the mining reward is getting smaller (depends on the country where electricity bill is not expensive and miners doesn't just earn from mining rewards alone but also the transaction fee from every transactions in a block that is mined. If no one sell their bitcoin then the demand will increase and those who hold will have to sell for profit and I would also say that it is impossible for people not to sell their bitcoin holdings.
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jrrsparkles
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Hire Bitcointalk Camp. Manager @ r7promotions.com
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February 29, 2024, 03:36:12 PM |
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I have read several posts encouraging people to hold their bitcoin for the greater good of bitcoin and probably more reward in the future. I have also been able to buy some for myself and also holding. But there is this concern that usually pop up in my head anytime I am meditating and that is what will happen if everyone is holding their bitcoin and no one is willing to sell. This can possibly happen in the future when mining reward becomes too small. I know some people will say that miners will continue to mine and sell to sustain their business but when there is reduced selling, will mining still be a profitable business?
If this question appear dumb, please pardon me, I just need clarifications.
Then the value will be worthless, and it's just basic demand and supply that decides the price so if there is absolute zero supply no matter how high the demand the price can't be decided but it's highly unlikely to happen, there will be always someone buy when someone make an offer that the seller can't resist and the cycle keep on going.
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blckhawk
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February 29, 2024, 03:43:44 PM |
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it would not be possible for everyone to hold bitcoin together and not want to trade it. there will definitely be a buying and selling process that occurs in the market, because not everyone who holds bitcoin is for long-term investment, there are definitely those who trade it in the short term or there are holders who sell their bitcoin for whatever reason.
moreover, holders have different thoughts on bitcoin. so when there are many people who say "just hold your bitcoin" it will not be possible for all bitcoin holders to actually hold it, other holders will have different thoughts on this.
But just imagine for a second what it could do if that's not the case and everyone just continues hodling, I don't think that something bad would happen because when there's no one that's willing to sell their bitcoin then the people that wants to buy bitcoin will be forced to increase their buying price to attract people that wants to sell their bitcoin, that's how I see that scenario play out with bitcoin increasing in price because everyone's hodling. I agree that each hodlers are unique because some of them have a hard lives to live and most of them don't have other ways to get money when an emergency comes, they'll eventually sell even if they all preach hodling for a really long time.
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Alpha Marine
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February 29, 2024, 04:03:41 PM |
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There will always be people who are trading Bitcoin and there will always be people who are not necessarily traders but are selling because they've made a profit or don't want to make a loss, but the way I see it, if everybody holds their Bitcoin and refuses to sell, the result of this will either lead them to sell or look for more to buy.
If everybody holds on to their Bitcoin there will be scarcity and scarcity leads to more value if there is more value, some people will want to sell and make a profit which will mean more people want to buy and the price keeps going up. If the supply is reduced and the demand remains the same, the price will increase.
It may also be that the demand might drop since nobody is willing to sell and the price will reduce, this will make people sell before they make too many losses and this can either increase the price or drop the price even further.
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avikz
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February 29, 2024, 04:08:00 PM |
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I have read several posts encouraging people to hold their bitcoin for the greater good of bitcoin and probably more reward in the future. I have also been able to buy some for myself and also holding. But there is this concern that usually pop up in my head anytime I am meditating and that is what will happen if everyone is holding their bitcoin and no one is willing to sell. This can possibly happen in the future when mining reward becomes too small. I know some people will say that miners will continue to mine and sell to sustain their business but when there is reduced selling, will mining still be a profitable business?
If this question appear dumb, please pardon me, I just need clarifications.
To begin with, miners are not entirely dependent on the block reward, but they receive the transaction fees from the network. Now you need to understand why people want to hold their Bitcoins. The answer is within its historical price increase. People who have joined the community a couple of years back, they have already seen an astronomical amount of profit which no other asset can provide. So they are more inclined towards holding. Personally I am one of them. Secondly, I think the current transaction fees is also discouraging people from using Bitcoin. So instead of making small transactions, people are waiting for their goals to be reached so that they can make one big transaction and take out the profits.
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Marvelman
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★Bitvest.io★ Play Plinko or Invest!
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February 29, 2024, 04:17:25 PM |
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I have read several posts encouraging people to hold their bitcoin for the greater good of bitcoin and probably more reward in the future. I have also been able to buy some for myself and also holding. But there is this concern that usually pop up in my head anytime I am meditating and that is what will happen if everyone is holding their bitcoin and no one is willing to sell. This can possibly happen in the future when mining reward becomes too small. I know some people will say that miners will continue to mine and sell to sustain their business but when there is reduced selling, will mining still be a profitable business?
If this question appear dumb, please pardon me, I just need clarifications.
Then the value will be worthless, and it's just basic demand and supply that decides the price so if there is absolute zero supply no matter how high the demand the price can't be decided but it's highly unlikely to happen, there will be always someone buy when someone make an offer that the seller can't resist and the cycle keep on going. You're right that supply and demand determining price. No question there. But let me offer a slightly different perspective: Even if no one was selling Bitcoin, so supply dried up completely, it wouldn't necessarily become worthless and just look at diamonds - they are incredibly rare, yet still have a market price because some trading does occur. Without any Bitcoin selling sure, transactions would halt, so we'd lose a market price. But that doesn't equate to worthlessness. It would be in a state of limbo - some intrinsic value exists, yet with no trading to substantiate a market price. I suppose the essence here is that supply and demand intertwine to set price in markets but demand alone can still indicate an inherent value, even without immediate supply sources available for trading.
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