Bitcoin without profit: would you stick around?

[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.

[slaman29]

Not really a new discussion, just a new person asking the very old question of 'Are you a Bitcoin user'?

Because trading it, to me, has never been a use case. Especially when most people use CEX, where the Bitcoin they buy or sell is not even happening on chain.

P2P trading is a bit different, but most people do that to simply fiat in or out, the P2P trader full time maybe is benefitting from the fees, so he will always be in the business. Probably even more so if people use Bitcoin more because it is less volatile

[WhoYouCantKill]

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.

Bitcoin investment isn’t like gambling where people go to get entertained or have fun. Everyone who comes to Bitcoin, whether as an investor or just a trader, comes with the sole aim of making profits or to gain financial freedom, nothing more, nothing less, so if an investor or a trader is no longer making profit from investing in Bitcoin or isn’t seeing any promised future, then it only means one thing, and that’s that it’s clearly not worth investing in, it’s as simple as that.

[rodskee]

if i were taking in clients from abroad, i’d prefer if bitcoin was the mode of payment. that way there’s not much fuss needed about bank accounts. bitcoin can be used in two different countries which makes it so accessible.

[JoyMarsha]

The profits Bitcoin gives, are the main reason we are investing our hard-earned money in it. Removing the profits, and pointing out the reasons you give such as "hedge against inflation, cross border transaction, and avoiding banking limitations" many people all over the world would have this rush over Bitcoin because there will be some other products that can offer a similar thing for them. Then will it be a few people to make use of Bitcoin, and the rest will make use of other things. Like that will it be going, and Bitcoin won't be as popular as we have it is now.

[colinistheman]

Would you still use it?

As you said, most people discussing bitcoin right now are focused solely on profit. Very few people talk about its original purpose and its use as a form of currency.

I think, if we are honest and dare to admit it, 99% of us are here for the huge profit from bitcoin, including me. That is our top priority and goal, not privacy or having complete control over our assets. Therefore, I agree that the majority of users will lose interest and abandon Bitcoin if it no longer yields huge profit.

[Die_empty]

As you said, most people discussing bitcoin right now are focused solely on profit. Very few people talk about its original purpose and its use as a form of currency.

I think, if we are honest and dare to admit it, 99% of us are here for the huge profit from bitcoin, including me. That is our top priority and goal, not privacy or having complete control over our assets. Therefore, I agree that the majority of users will lose interest and abandon Bitcoin if it no longer yields huge profit.

Most people use Bitcoin through centralized platforms like exchanges. This shows that they don't care much about privacy or decentralization. Some people are comfortable with KYC and don't hesitate to offer it to any institution.

Bitcoin helped me so much when the government of my country placed severe restrictions on bank transactions. So I might still keep Bitcoin even when the price is stable to evade government restrictions. But I would invest as much as I am doing now. I might prefer to put my money into other assets that would generate profit.

[Free Market Capitalist]

I think, if we are honest and dare to admit it, 99% of us are here for the huge profit from bitcoin, including me.

Good luck with that. It seems you haven’t taken the time to look at Bitcoin’s price trend, which has followed a downward curve—as is often the case with assets that are maturing. At first, the returns were spectacular, but that was when no one believed in it. No one knew if it was going to drop to zero the next month, or if it was going to be banned worldwide. Now that it’s clear it’s an established asset, we didn’t even make 2X the previous cycle. So it doesn’t look like we’re going to see huge profits in the future. Maybe in a really good cycle we’ll make 3X, but the trend is going to be moderate, I think.

Even so, I do have Bitcoin because it depends only on me and how I store it; it doesn’t depend on a bank or any government. And that’s a huge advantage.

[sunsilk]

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 think that I will still use it. Because with something new in terms of payments and currencies, we'd be curious on how to do it.

It's not the same with the new projects that we get to see everyday that are saying they're the best and they're making themselves known.

So with some revolutionary technologies that we get to see, we'll like to try it and from there we'll see if we will continue to use it.

[bitbollo]

bitcoin can be really useful even without realizing any kind of monetary profit. Imagine, you can get few millions of monopoli's cash.
This would change something if few millions more or less? I don't think so... this should be the same approach with FIAT cash.
Many years ago, people were saying "selling FIAT" or "we are different, I want get more satoshi and not more FIAT".
Well there was mostly a reason and not was just something related to making an earning on this.

[Findingnemo]

My biggest wish is that it happens then people will be using bitcoin as money which they really own/control and not scrutinized by someone called bank and you have the option to chose your own fee then yes I will stick around until it happens.

But what is the possibility of price becoming stable? It is only possible when everyone in the world holds bitcoin and treats it as money.

[ScamViruS]

Bitcoin is unlikely to be stable, and the price of Bitcoin is not pegged. So we will always see ups and downs in the market price of Bitcoin, so that there will always be discussions about investment and profit. And the advantage of using Bitcoin is to keep control of your own money and complete cross-border transactions without any restrictions. So if the Bitcoin price stabilizes for some reason, as you say, then Bitcoin will be more popular for cross-border transactions and even for domestic transactions without hassle. Because everyone wants to transact through an alternative to avoid bank regulations.

[Churchillvv]

The chance of anyone choosing bitcoin over fiat or any currency when there is no profit orientation is dependent on the knowledge that they have about bitcoin, if they do not have a good knowledge on its benefits over whatever they would go for the chance that more like 80% of people in the forum will do the same is very high, but however, for people like us battling inflation, its would be a better choice over our fiat because even saving in dollar the inflation still overs with dollar so if bitcoin was stable it would still be a better choice.

[SeriouslyGiveaway]

Bitcoin is unlikely to be stable, and the price of Bitcoin is not pegged. So we will always see ups and downs in the market price of Bitcoin, so that there will always be discussions about investment and profit. And the advantage of using Bitcoin is to keep control of your own money and complete cross-border transactions without any restrictions. So if the Bitcoin price stabilizes for some reason, as you say, then Bitcoin will be more popular for cross-border transactions and even for domestic transactions without hassle. Because everyone wants to transact through an alternative to avoid bank regulations.

It is like when Bitcoin price is stable, people would mostly say Bitcoin market is boring and they will consider leaving the market as there is no chance of getting profit. That's ridiculous as their mindset is very narrow-minded and they only focus on short term profit and find opportunities of getting profit in short term.

While intelligent investors who understand about Bitcoin would see differently, and they consider such boring market is perfect chance of accumulating more bitcoins and building up their portfolios while calmly waiting for a next bull market that will not be boring but bring very good profit.

In the same market, there are people who see the market oppositely, risky and opportunistic but it's not responsibility of either Bitcoin or Bitcoin market.

[Razmirraz]

If Bitcoin were just a digital currency without any significant profit potential, or its value remained stagnant like USDT or other stablecoins, it's unlikely that many people would use it. However, as someone who already has knowledge of the advantages and convenience offered by Bitcoin, I will continue to use Bitcoin because it has advantages such as being able to be used for everyday transactions because it can be used as a practical and secure payment method, especially for international transactions.
Bitcoin can also be used as an alternative currency to store value, especially in countries with high inflation or economic instability. Additionally, as a decentralized digital asset, Bitcoin cannot be controlled by any government or financial institution, making it attractive to some people who want greater control over their finances. Additionally, Bitcoin is not a physical asset, so it can be stored safely.

[Zigabel]

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.

Just like you have stated here, there are other utility functions of Bitcoin that can be explored at anytime which must not be profit oriented and for that reason, I will still stick to Bitcoin even if the price stabilises and there happens to be no bull run and aall the hype, provided with it I can get cross border transactions done and I can be protected against inflation by Holding by Bitcoin, I will continue to use Bitcoin as much as possible, it is a digital asset/currency and not just an investment tool.

[HustleZ]

[~~]

This is a Great Question. Although many people here would say that they will still choose BTC without the profiting aspect, but the truth is that most of them are just Acting as high-conviction investors i.e LARPing, because the price increase and the returns it gave was the only reason it gained so much popularity, but i think that its not wrong. It is okay to expect something in return for the belief you put in something but the price shouldnt be the only thing that you see of Bitcoin. A person should study about BTC and know more about it so that he can utilize its other perks and use it not only just for profit as Bitcoin includes other core principles and aims it was designed for.

[SeriouslyGiveaway]

Just like you have stated here, there are other utility functions of Bitcoin that can be explored at anytime which must not be profit oriented and for that reason, I will still stick to Bitcoin even if the price stabilises and there happens to be no bull run and aall the hype, provided with it I can get cross border transactions done and I can be protected against inflation by Holding by Bitcoin, I will continue to use Bitcoin as much as possible, it is a digital asset/currency and not just an investment tool.

With Bitcoin, people will simply need to hold their bitcoins and don't try to do anything else for passive profit like staking bitcoin for annual yield. It's a scam trap as Bitcoin is a Proof of Work blockchain for mining and it's not a Proof of Stake blockchain for staking. So if people want to stake and earn yield, it will require them to convert their bitcoins to tokens aka Wrapped Bitcoin tokens. There are many Wrapped tokens like this and it's easily to search for them on coinmarketcap.com website. But the risk starts here, as converting bitcoins (actual bitcoins) to tokens is very dangerous. These tokens might lose their pegs to Bitcoin price anytime.

Don't try to trade with your bitcoin and get profit from trading as trading is not easy to get profit.

[free-bit.co.in]

OP, but the problem is that Bitcoin will never be stable and will always be volatile. Even if Bitcoin gradually stabilizes, I believe there will still be many people trying to prevent that from happening. Because they are making huge profits from the volatility of bitcoin, they will never let it disappear easily.

Even a long standing asset like gold, with its enormou market capitalization, has never truly been stable. A relatively young asset like Bitcoin, combined with the speculative mentality and expectation of quick profits among most investors in the market. I highly doubt that it will ever become stable one day.

If Bitcoin becomes stable, will I continue using it? To be honest, I never thought about that.

[Muba20]

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 price of Bitcoin is stable, transactions will definitely increase because people will be interested using Bitcoin. Those who do business will also accept Bitcoin as their payment method. The main reason for this is that Bitcoin's volatility will be low at that time. If there is no volatility Bitcoin will be used everywhere. However, for those who want to be profitable from investment, especially those who want to use volatility well, its use may decrease slightly. Because there are some investors who are interested in holding Bitcoin due to its high volatility. But those who can understand Bitcoin well will definitely give importance to its long-term potential. Bitcoin is not only for storing value, it is a means of financial security for people. The convenience of independent financial transactions is possible only through Bitcoin. I like the volatility of Bitcoin and I am definitely interested in holding Bitcoin for the long term because of various advantages.