Bitcoin without profit: would you stick around?

[jcojci]

If Bitcoin becomes stable, I still use it and I may search the profit from other ways. But I still thinking that Bitcoin may still be used for the investments and also as the payment.

Bitcoin will be more than that so we can still make a profit from Bitcoin and takes benefit of using and having Bitcoin. There should be a different price and we can uses that for our benefits. But that maybe happens in the future so nothing to worry.

[Pi-network314159]

Feel free to give your own two cents on this discussion, As for me, I believe large percentage of users would lose interest if profit is removed from Bitcoin. However, those who would remain are likely to be ones who truly understand and believe in what Bitcoin itself represents, Because Bitcoin is more than just a way to make money.

The truth is just that Bitcoin is more than just what people think it is, but However majority of people don't care about other advantage but just for the profit. Some will say if they need a stable coin for cross border transaction, they will use USDT for transaction or USDC and so forth. One major thing is that everyone is looking for where to make profit and Bitcoin gives the opportunity for such. I myself would have not invested in Bitcoin if it where not for the profit and I can't lie about that. Because the transaction fee is even higher compeard to stable coins for cross border transaction.

[Publictalk792]

]
The truth is just that Bitcoin is more than just what people think it is, but However majority of people don't care about other advantage but just for the profit. Some will say if they need a stable coin for cross border transaction, they will use USDT for transaction or USDC and so forth. One major thing is that everyone is looking for where to make profit and Bitcoin gives the opportunity for such. I myself would have not invested in Bitcoin if it where not for the profit and I can't lie about that. Because the transaction fee is even higher compeard to stable coins for cross border transaction.

There is nothing wrong with buying Bitcoin and making money because this buy is now seen by most people as online gold to collect wealth instead of spending it on everyday buys. You are right that fixed price coins such as USDT or USDC will be much more helpful when sending money across borders since it has very low costs and can stay same value, while Bitcoin may be expensive and slow to move. Although Bitcoin payment has been made faster with new technology such as Lightning Network, changing price stays steady problem making it risky choice of paying bills compared to fixed price coins. This is mixed way used by smart investors today. They keep their Bitcoin in safe long term storage to allow it to grow in value, but they really use safe and fixed price coins to finish their trades and payments. Telling truth about your wish to get profit will let you make more right decisions, like turning Bitcoin into high growth savings account and using cheaper online dollar to cover your daily money needs.

[Taskford]

If Bitcoin becomes stable, I still use it and I may search the profit from other ways. But I still thinking that Bitcoin may still be used for the investments and also as the payment.

Bitcoin will be more than that so we can still make a profit from Bitcoin and takes benefit of using and having Bitcoin. There should be a different price and we can uses that for our benefits. But that maybe happens in the future so nothing to worry.

Yeah provably we or people who know about it will continue to use it and this will be used only for payment purposes. Not provably for something like its usual things like we used to do with our Bitcoin nowadays.

But if this case happen, Bitcoin will became less attractive and will not get much attention. Because if Bitcoin will just go stable for sure that people will just used directly their fiat or even those digital fiats offered by their banks.

But also to be honest I don't really see that situation will going to happen, since Bitcoin will remain to be a volatile asset whatever situation happens.

[macson]

The reason why I was attracted to Bitcoin in the first place was not about profit, but about the features offered by Bitcoin. So let's say that if one day Bitcoin becomes so stable in price, then I will continue to use it as a store of value and also as an alternative to fiat that allows me to transact more freely to anyone and anywhere globally.

[Fivestar4everMVP]

Feel free to give your own two cents on this discussion, As for me, I believe large percentage of users would lose interest if profit is removed from Bitcoin. However, those who would remain are likely to be ones who truly understand and believe in what Bitcoin itself represents, Because Bitcoin is more than just a way to make money.

If the profit aspect was to be completely removed from bitcoin, somebody like myself who already understands other aspects and benefits of bitcoin aside investing in it to make profit will still very much make use of bitcoin, especially on cross-border transactions and how it makes transfers and receiving of funds easier, faster and cheaper compared to Fiat, I will still like to keep/store my money in bitcoin because even though the price of bitcoin has become stable, fiat in my country still continue to lose value and purchasing power due to bad governance and economically unhealthy monetary laws etc.

So, I think it's only some newbies who will think that bitcoin is simply all about buying and holding it for profit, forgetting that there is really more to bitcoin than just buying and holding for the price to go up..
I can even tell that with the way local fiat currencies are losing purchasing power, if the price of bitcoin becomes stable, this will be a big win for millions of businesses around the world who must have been wanting to start accepting bitcoin payment for their goods and services but the price fluctuations has been a big issue.

[Minor Miner]

The reason why I was attracted to Bitcoin in the first place was not about profit, but about the features offered by Bitcoin. So let's say that if one day Bitcoin becomes so stable in price, then I will continue to use it as a store of value and also as an alternative to fiat that allows me to transact more freely to anyone and anywhere globally.

When did you first hear about Bitcoin? As far as I remember, Bitcoin has been promoted as a profitable investment since 2013. Since then, most people have approached Bitcoin primarily from an investment perspective, rather than as a decentralized monetary system.
Most people are attracted to Bitcoin because of its profit potential, including me. But over time, some of us have taken the time to understand it more deeply and gradually realized that its true potential goes beyond being just a speculative asset.

I believe that those who have recognized the true potential of bitcoin will remain committed to it even if it is no longer profitable.

[Franctoshi]

This is something I wanted us to discuss long time ago when I was a member rank, but it kept slipping my mind.

When most people talk about bitcoin the conversation usually revolves around profit, price increase, bull runs, lastly making gains.

Now I want us to look at it from a different angle, let assume a scenario where Bitcoin price becomes stable, as in no major pumps or hype as we are seeing now, no opportunity for significant profits, Bitcoin only exist as a digital currency, not an investment, Would you still use it?

I know in some countries including my own country, people are already using Bitcoin for reasons beyond profit, they use it for things like cross border transactions, to protect value against inflation, to avoid banking limitations and so on.

Feel free to give your own two cents on this discussion, As for me, I believe large percentage of users would lose interest if profit is removed from Bitcoin. However, those who would remain are likely to be ones who truly understand and believe in what Bitcoin itself represents, Because Bitcoin is more than just a way to make money.

You've already stated what most likely will happen when profit is removed, Because majority of investors love Bitcoin because of its gains and only few understood that Bitcoin is just beyond that, it remove power from 3rd party and governmental control and give to you, that's the most interesting part, there has been never a freedom form of money before such as Bitcoin.
For or, Bitcoin is more than just for gains or profit as it serves other purposes such as the cross border payment.

[serjent05]

When did you first hear about Bitcoin? As far as I remember, Bitcoin has been promoted as a profitable investment since 2013. Since then, most people have approached Bitcoin primarily from an investment perspective, rather than as a decentralized monetary system.

I think you are initially exposed to a Ponzi scheme, but missed to read about what they say on the Bitcoin whitepaper. Bitcoin is not only promoted as a profitable investment, but it was first introduced as a decentralized cryptocurrency. When it got popular, many scam companies rode on its popularity, thus the promotion of many companies about a profitable venture with Bitcoin investment.

Most people are attracted to Bitcoin because of its profit potential, including me. But over time, some of us have taken the time to understand it more deeply and gradually realized that its true potential goes beyond being just a speculative asset.

True!  It is really very attractive to hear a profitable venture since it triggers a person's greed, and those who got attached dig deeper to learn more about Bitcoin.

I believe that those who have recognized the true potential of bitcoin will remain committed to it even if it is no longer profitable.

Profitability of Bitcoin will never stop since profitability does not only reside in buying Bitcoin but also in utilizing it as a payment option.  Since having Bitcoin as an option to pay, those who integrate it to their business will have a wider audience than those who just use the traditional payment system.

[Son Of Blockchain (SOB)]

 Yes I'll still use it, remember that Bitcoin initial purpose wasn't to serve as an investment purpose but an alternative to the Fiat currency that ensures privacy and decentralization, so as far it still has those features but stable, I think it’s still a better alternative than the Fiat currency which is why I'll still use it.
 Despite being stable, fiat and still be manipulated by the government or central bank but if Bitcoin was stable, it would've still been decentralised and even offer better security through it's blockchain.

[PocketAurora]

Honestly, Bitcoin without profit just becomes… money. And that was the original idea in the whitepaper:
https://bitcoin.org/bitcoin.pdf    The irony is that speculation sped up adoption, but long-term value comes from actually using it. So yes, fewer people, but probably more serious ones.

[legiteum]

Honestly, Bitcoin without profit just becomes… money. And that was the original idea in the whitepaper:
https://bitcoin.org/bitcoin.pdf    The irony is that speculation sped up adoption, but long-term value comes from actually using it. So yes, fewer people, but probably more serious ones.

WAY fewer people though. And probably 99.9% of people in the world who know about Bitcoin today would have never heard of Bitcoin if it wasn't for speculation.

As to whether it would exist at all, that is hard to figure out since Bitcoin's popularity--driven by $$$--is what changed the regulation environment and forced government to allow digital currencies. The entire "blockchain industry" as it exists today is here because Bitcoin effectively made something that used to be illegal, legal.

And if Bitcoin was still illegal, its adoption, even among the very hard-core, would be tiny since most people don't like to do illegal things.

Hence you could say that if Bitcoin was introduced as a stablecoin, not only would Bitcoin not exist (or be incredibly tiny), the entire industry would probably not exist.

[Crypto Library]

This is something I wanted us to discuss long time ago when I was a member rank, but it kept slipping my mind.
When most people talk about bitcoin the conversation usually revolves around profit, price increase, bull runs, lastly making gains.
Now I want us to look at it from a different angle, let assume a scenario where Bitcoin price becomes stable, as in no major pumps or hype as we are seeing now, no opportunity for significant profits, Bitcoin only exist as a digital currency, not an investment, Would you still use it?
I know in some countries including my own country, people are already using Bitcoin for reasons beyond profit, they use it for things like cross border transactions, to protect value against inflation, to avoid banking limitations and so on.
Feel free to give your own two cents on this discussion, As for me, I believe large percentage of users would lose interest if profit is removed from Bitcoin. However, those who would remain are likely to be ones who truly understand and believe in what Bitcoin itself represents, Because Bitcoin is more than just a way to make money.

I would say here that if bitcoin stick to the without profit and loss then bitcoin will be like an stable currency. And in my case, if I answer, then in this case I have to say that I am not currently keeping all my savings or funds in Bitcoin because of the volatility of Bitcoin. In this case, as the price of Bitcoin increases, we have the possibility of making profit as well as losing if it is in the short term.

So if this volatility of Bitcoin goes away and all the other features of Bitcoin such as limited supply and decentralized ecosystem remain the same, then Bitcoin will be a true digital gold. And here if we do not use Bitcoin, then it will be foolish. For example, the money that I have in my bank is currently inflated and I cannot invest in gold without finding the right way. So my simple answer there would be of course I would use Bitcoin if Bitcoin acted like a stable currency.

[Strongkored]

Feel free to give your own two cents on this discussion, As for me, I believe large percentage of users would lose interest if profit is removed from Bitcoin. However, those who would remain are likely to be ones who truly understand and believe in what Bitcoin itself represents, Because Bitcoin is more than just a way to make money.

Bitcoin is a currency, but it's not yet fully accepted as one. More people view it as a profitable investment, making its role as a currency less important for its holders.
I believe that once Bitcoin stabilizes, unlike its current state, adoption as a currency will be even more widespread. I will continue to use it because it still functions as a means of transaction, and because Bitcoin is decentralized, I have full control over it.
But could we finally see Bitcoin stabilize?

[Abu-Naim]

Feel free to give your own two cents on this discussion, As for me, I believe large percentage of users would lose interest if profit is removed from Bitcoin. However, those who would remain are likely to be ones who truly understand and believe in what Bitcoin itself represents, Because Bitcoin is more than just a way to make money.

That’s right, large percentage of interest will be removed especially for spot traders and day traders who trade for short term and take their profit. As for me, I will still use Bitcoin for privacy sake, and I will still use Bitcoin to save my money that I will not use for how or my future investment because it will remain stable as you have said, it will not be affected by inflation because it is not under control like other fiat currencies.

But will be possible?
I don’t think so because it is not something that is being controlled by anyone, the white paper is there already and no one will come up with any idea to change what is already there, therefore, it will not be possible to have Bitcoin in a stable price because of the limited supply and the demand.

[Mame89]

Feel free to give your own two cents on this discussion, As for me, I believe large percentage of users would lose interest if profit is removed from Bitcoin. However, those who would remain are likely to be ones who truly understand and believe in what Bitcoin itself represents, Because Bitcoin is more than just a way to make money.

Given Bitcoin characteristics, I would still use Bitcoin over fiat even though Bitcoin isn't as profitable due to its stable price. However, at least Bitcoin is better than fiat, which loses value annually due to inflation.

I assume you're giving the example that if Bitcoin stabilizes that doesn't change the uniqueness of Bitcoin itself, right? Then I'd still choose Bitcoin, because it has many unique features that other assets, especially fiat can't match. Bitcoin transactions don't involve a third party, it can't be controlled by anyone, it guarantees your privacy, it offers low fees and most importantly it's easy to carry around even when traveling to many countries.

So, profit isn't a benchmark in Bitcoin, but it's the advantages it offers that attract me to it even though as you said one day we won't be able to profit because the price is stable.

[aoluain]

Feel free to give your own two cents on this discussion, As for me, I believe large percentage of users would lose interest if profit is removed from Bitcoin. However, those who would remain are likely to be ones who truly understand and believe in what Bitcoin itself represents, Because Bitcoin is more than just a way to make money.

Given Bitcoin characteristics, I would still use Bitcoin over fiat even though Bitcoin isn't as profitable due to its stable price. However, at least Bitcoin is better than fiat, which loses value annually due to inflation.

If there would be no financial gain to using Bitcoin what would the point be of going to
the trouble of acquiring it if it would just do the same as FIAT where you could just buy
stuff with it?

Personally I wouldnt be bothered with it. The fact that we can put our wealth somewhere
that in the long run it doesnt lose value is such a benefit, and we can access it anytime we
like, FIAT systems are way more restrictive. If Bitcoin didnt have this and was just something
mimicking FIAT what would be the point?

[Dareo]

I think that if the price of Bitcoin becomes completely fixed and there is no opportunity for profit, then of course many people will lose interest because honestly, most people come here for profit. But the other side is that then the real use will become clear. Those who stay they will use Bitcoin not only as an investment but also as a tool such as keeping control over their own money, which means real decentralization, In my opinion if profits decrease, the hype will decrease, but those who stay will be more realistic users and that may be good for Bitcoin in the long term.

[taufik123]

-snip-
I want to add another reason: Bitcoin has created new use cases for digital money and new ways to generate profit. So even if the price doesn't grow anymore, there is a positive impact in the economy. And this can also a personal (microeconomic) reason to continue to support Bitcoin: some people simply have found a business model related to Bitcoin and are making profit, be it from trading, new forms of content creation and marketing, services like cross border transfers and so on.

And if everything goes wrong you can still make money shorting Bitcoin

A new business model that provides benefits to some users makes Bitcoin quite comparable to other currencies and different in that it is managed completely independently.
Some new business models such as Payment Gateways can provide profits as well and some people simply make them as commodity assets by taking advantage of their volatility.

If the price of Bitcoin gets cheaper then there are more opportunities for those who are not yet in to buy bitcoin and hold it for the long term.
Now is not the era of making big profits with little capital, but those who have more assets they can make more profits.

And if everything goes wrong you can do a short sell, but if you still have a spare money to buy back you will need to accumulate more Bitcoins that you will have with a lower purchase.

[DiMarxist]

Bitcoin was created to solving a particular problem, before it became a money generating assets that, we are seeing today. So those who will use Bitcoin without making extra cash will not be much because, people are attracted to were they can make money. But if we can look beyond money and see the reason why Bitcoin was created some can still stick to it.