Bitcoin without profit: would you stick around?

[Joy- maker]

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.

[Emjay24]

Most times all people think of bitcoin is about profit, which is not very encouraging because bitcoin presents far more value and utility that should be of great interest

• Bitcoin isn't censored, so you have the right over your coins anytime anyday
• Bitcoin is divisible, so you can pay for virtually anything in bitcoin for the exact worth of the goods or service
• Bitcoin servs as a hedge against inflation, most people put their funds in bitcoin to prevent it from the unhealthy inflation that  is inherent in fiat's nature[/quote]
  

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 don't think bitcoin would end up that way, like not being an investment prospect, but even though it gets to that extent, I would use it as long as it remains censorship resistant, decentralized and secure. People in my country has really suffered from currency manipulation and censorships from the government and its banks.

[goldkingcoiner]

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.

Owning my money, privately, decentralized and without the possiblity that a third party like a government or a bank can interfere with or freeze it? Of course I would still trade my fiat in for Bitcoin, even if it was completely stable and never yielded any profit.

And here's the kicker: even if the price never goes up and there is no speculative profits from this theoretical Bitcoin, it would still be an amazing hedge against the dangers of fiat (like the government deciding that they are switching currencies and the old currency only has a short time window to be traded for the new or be forever worthless).

The current Bitcoin's "profit" is an excellent hedge against fiat inflation. So even if the price only goes up a minimum of +3% a year, it would still beat the -2.4% inflation rate of the dollar.

It does not seem possible that Bitcoin could remain stable when the dollar/other fiat keeps losing value over time because of inflation.
Profit is basically guaranteed, is it not?

[Rustam Meraj]

It is already used to fight price rising and get around banking rules in such countries as Nigeria and Turkey, and Lightning Network has grown by 289% in daily payments this year. I agree those who have become excited about Bitcoin because of steady price would lose interest, but I think it would also change Bitcoin into best digital money by removing fear of changes.

As much as I agree with you that many would leave in case gains were lost, I would like to tell that many governments are now using it as planned savings item and this means that it will not be thrown away as useless even in lack of the jumps. So, you are correct, steady Bitcoin would sort out gamblers and leave only believers as they are ones who value it as free limitless way to move money.

[Rashlyowl]

The current Bitcoin's "profit" is an excellent hedge against fiat inflation. So even if the price only goes up a minimum of +3% a year, it would still beat the -2.4% inflation rate of the dollar.

It does not seem possible that Bitcoin could remain stable when the dollar/other fiat keeps losing value over time because of inflation.
Profit is basically guaranteed, is it not?

You're right bros @goldkingcoiner, even Satoshi Nakamoto in the BTC whitepaper doesn't talk about the financial benefits that adopters will get if they use BTC. It has become a law that something that loses its value slowly will lose to something that remains the same (in terms of scarcity), indirectly it is no longer the same, but rather stronger than the thing that loses its value slowly, in the context here it is FIAT.

Bros @Joy- maker, let's say the BTC price is stable & you bought it at $1.50. Would you still want to sell it at $1.50? I don't think you would if you were smart & that's what indirectly made BTC price what it is today.

[Don Pedro Dinero]

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?

When I saw the title, I thought you were going to talk about losses – about Bitcoin losing value, even if only gradually – and in that case things would be different. But if the price stays more or less the same (although normally it would be expected to rise slightly due to inflation to maintain purchasing power in real terms), I would still use it for the reasons others have already mentioned. The Bitcoin I have in my cold storage doesn’t depend on any intermediaries, nor does it depend on intermediaries if I want to transfer it. Given that other assets usually depend on intermediaries or are difficult to liquidate and transfer, it’s not a bad idea to have Bitcoin as part of a diversified portfolio.

[Aanuoluwatofunmi]

What is the essence of Bitcoin investment when we are not profitable in it, one of the reason why people cannot do without considering it is because of the diverse opportunity that comes along, so it does not really show impressive consideration when we cannot earn from it, it is trusted and reliable, everything that has been said about bitcoin is both revolves around it and apart of why people are more interested in it.

[Outhue]

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.

Good question OP, if Bitcoin works more like a stable coin with no price action, no hype or speculation about future value yes I will still have Bitcoin, decentralisation of Bitcoin wouldn't let me take my eye off it, I have always wanted to get away from bank as fast as possible because of how I was treated in 2016 by my trusted Bank.

Here is a small explanation about what went down, I became a total stranger in a bank that I always kept my money every month, I have always visit from time to time that I have become well known, so something came up that thing that I need some large amount of money very fast, it was an emergency. I got to the bank quickly around 10am and guess what happened? They started pushing me around, after the fact that my name, home address, pictures are on my account details they started asking if I truly own that money, I got so pissed that day, I had to uttered the name of a powerful man who was an uncle to me before they released that money for me around 5pm.

I spent all day at the bank that day, I was asked for documents and many other things, in the end It was on that day that I choose to withdraw everything I had in the bank account and I never went back to that bank again, I found Bitcoin later and it suits my need, something that I can finally have total control on instead of entrusting my money on the hands of people who will force me to dance to their tone all the time.

[MinoRaiola]

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.

Another key reason is that you control your own money/Bitcoin. There are no third parties getting in the way, no one can freeze your funds, and no one knows how much you own, there is no full name noted. Even though this has changed due to MiCA and DAC8, you still control your own assets. With the digital euro on the horizon, I think it is important to be able to live independently, and Bitcoin offers a way to do that. Profits are also important, of course no one wants to lose value, but they are not the only thing.

[Somegory]

If Bitcoin is a stable coin the interest will be lower, don't even compare with USDT and others because they have massive marketcap, these stable coins are doing well because of Bitcoin and other Volatilite coins.

They have massive caps because investors are storing funds in stable coin to later make the jump into other coins when opportunity presents itself instead of having to go through the conversion from Fiat to other coins.

Also, USDT for example is used as pair for other coins, USDt/BNB, USDT/XRP, USDT/BTC and others, I wonder what will happen if BTC is also a stable coin.

Ethereum would be the world leader, Bitcoin mining will be nowhere to be found, ETF for Bitcoin will be missing, everything will be about Ethereum, XRP and others.

[hd49728]

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?

People can still use bitcoins just as a currency like how they use fiat currencies, stablecoins and altcoins for transactions. If they see Bitcoin transaction fees are cheap enough to use, they will feel comfortably using bitcoins for daily transactions or even less often.

However if bitcoin is just a currency, without any chance of getting profit, enriching people wealth, there will be less demand on buying and owning bitcoins. Then Bitcoin value would be lower than now, and its price would be small as well as its trading volume on cryptocurrency market.

My answer for you is yes, people will still use bitcoin but if bitcoin use case is only this, as a currency, its price would have not been as high as it is  now or a latest all time high months ago.

[HONDACD125]

First of all, this could only be a hypothetical question because that is practically not possible because as long Bitcoin has demand and people are using it for any reason, it will tend to have a volatile value because it has a limited supply, and we know that when an asset has a limited supply and an unstable demand that increases and decreases over time, it cannot have a stable value. With that being said, to answer the question, I would say that the vast majority that uses Bitcoin only for profits and gains will probably stop using it, but it will still have a good number of users because then it will make it better as a store of value if the value stays stable forever.

If we have an asset that doesn't lose value or purchasing power even over years, it will be used by everyone as an asset that can keep their wealth stable over time, it can also serve as a savings asset because currently, you can't save money in Bitcoin because there is also the possibility for it to lose value and then your money will not have the same value, but if it becomes stable, that problem won't exist anymore. Apart from that, as you mentioned, we will have a completely decentralized payment system to use without any risk of losing value for our funds if kept in it.

[Donk1]

Well if I may say Bitcoin's potential is vast so we should always remember to look beyond just it being a long term store of value Basically the fact that most folks can't comprehend it is because at times they focus more on the major than the minor which is profit making not Bitcoin's potential itself.

​That said I like to believe Bitcoin acts as a hedge against inflation of many currencies. So to me Bitcoin is still the best option for anyone who wants to keep their money safe from third party governments. Even at that if Bitcoin was to remain stable the possibility of people complaining of the market going down or panicking would stop So if you think about it this is really a good topic OP. ​Basically most folks just panic and sell but no one has ever asked what they will do when the market just becomes stable... Overall there are too many potentials that Bitcoin holds. And yeah stable or not Bitcoin is decentralized so it would always stand out as an alternative to wethe users That's all for me.....

[m2017]

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?

Absolutely.

Bitcoin not only provides direct profit from investments (as it does now), but also provides indirect profit from using it as electronic digital money (no bank commissions or other intermediaries, fast global transactions, time savings that would be spent using traditional money, such as waiting in line at the bank, and bypassing political sanctions). Bitcoin is a unique financial instrument with no analogues in the world. Everyone uses it as needed. Those who use bitcoin as a speculative instrument simply don't need to exploit the asset's other advantages at the moment. Perhaps they will need to do so in the future.

Because Bitcoin is more than just a way to make money.

Bitcoin is a way of life (financial freedom and independence).

[Alonso_]

Bitcoin isn’t an investment that you start having profit immediately as soon as you start investing in bitcoin, you need to be patience with your investment, when you’re investing for a long time and more like you’re investing for the future, which is why you should be more careful with your investment, well most of the people who are traders would be more interested in quick profits having quick profits immediately and it might work for them and it might also not work out for them, which is why you should be more careful when making investment decisions in bitcoin, especially when you’re investing for a long term, profit is never guaranteed in bitcoin, so you should be more concerned about buying and accumulating bitcoin consistently instead of being profit Oriented.

However most people that you see that are investing in bitcoin are doing it to have profits in future, either on short term or long term investments, I believe if there was no profit in bitcoin, you will have more shortage of individuals going into bitcoin investment, they could actually go with using bitcoin as a means of payment and not as an investment for long term or short term.

Majority of people investing in bitcoin are doing it for profit.

[davis196]

If the Bitcoin price becomes stable, this means that Bitcoin will slowly losing value, because a stable prices cannot protect Bitcoin's value from inflation.
Yes, most people are into Bitcoin for the profit, but this applies to every financial asset. Would people buy stocks, if the stocks didn't give them dividends and profits? Would people buy gold and silver, if there wasn't any expectation for gold and silver prices to go up as time goes by.
What about real estate or government bonds? Who the hell would buy government bonds, that have zero interest? The desire for profit is the main motivator behind the actions of all traders and investors.
Fiat money are legal tender, so the people are legally required to use them. BTC is not a legal tender. Nobody can force you to use BTC, so the expectation for profit is the main thing, that can incentivize the people to use BTC.

[CryptSafe]

With or without profit, I would still stick around bitcoin and also use it too, because the fiat system is not reliable to deal with in my country. With Bitcoin, I can hold my assets and funds under my custody without any third party, no dubious charges from the banks for this and that. Cross-border transactions are guaranteed without any third-party involvement or exorbitant charges. Your transaction privacy is guaranteed also, and you will be able to move about freely with your assets from one place to another. So the price stability is not a problem rather it would even help more because there would be no need to get frightened of price decline against the initial investment.

[Croyant90]

I think trading fees are something many people underestimate, especially in the beginning. When you trade occasionally, it doesn’t feel like a big deal, but if you’re active, it adds up quickly.
I’ve personally started paying more attention to platforms offering zero fee trading on some pairs. It gives more flexibility, especially when the market is volatile and you need to enter and exit quickly.
Some exchanges like MEXC have been offering zero fee spot trading in certain cases, which I found useful. Not saying fees are everything, but reducing them definitely helps in the long run.
What do you guys think do fees really impact your strategy or not?

[SatoPrincess]

Bitcoin cannot stable because it’s can’t be pegged to usd or any base currency. It was designed to be a decentralized digital currency. I think if bitcoin ever becomes less volatile due to massive global adoption, people would still use it as an hedge against inflation.

[CryptSafe]

I think trading fees are something many people underestimate, especially in the beginning. When you trade occasionally, it doesn’t feel like a big deal, but if you’re active, it adds up quickly.
I’ve personally started paying more attention to platforms offering zero fee trading on some pairs. It gives more flexibility, especially when the market is volatile and you need to enter and exit quickly.
Some exchanges like MEXC have been offering zero fee spot trading in certain cases, which I found useful. Not saying fees are everything, but reducing them definitely helps in the long run.
What do you guys think do fees really impact your strategy or not?

Is this a bug or what? Did you change the topic of this thread or what, because what I am seeing here is quite different from what is discussed on this thread. Look at the topic of this thread and look at the topic your posted here, they are two different things entirely, maybe you should move this post of yours to the appropriate thread, or you correct the topic back to the normal to suit the purpose of the thread discussion. This is why newbies are always advised to read before they post and if they do not understand or get anything clear, they should be able to ask questions for a better understanding before theact out of context just like what just happened here.