Bitcoin without profit: would you stick around?

[Cryptomultiplier]

If Bitcoin stays a stable coin there are still two use cases that can't be erased from Bitcoin.

1. True ownership, this is something that the centralised world lacks and trust me, many people are hoping for such before Bitcoin came, the likes of banks and others are too controlling and manipulative.

2. Bitcoin can still be used to battle inflation, it will still work as a way to escape inflation from my country's fiat money.

These two use cases are a very good reason as to why I will still be here for Bitcoin, will be sad that I can't make money anymore from the ups and down price of Bitcoin price fluctuations but can't say no to decentralisation.

The best profit form to make earn from Bitcoin in my mind and from my research is to hold long-term. Not using it for transactions or using it remittances and payment of taxes, but just holding it for a long time, because that's what the large pocket holders are doing and waiting till their maturity date before they sell to reclaim profit and diversify if need be.

This is the only reason I see necessary to learn the best practices from joining this forum, otherwise conversion to more stable coins and using it for gambling or staking or trading may yield only but a small return as would be compared with returns from long term holdings.

[Merit.s]

Just like what others have said. Getting total control over your funds without a third party intruding is the best bitcoin can give to us and that was one of the reasons why Satoshi created bitcoin.

I love bitcoin because it's a hedge against inflation. You can use bitcoin to preserve your wealth which is what the government are doing currently. However, the profit aspect is not exceptional.

[aylabadia05]

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.

Discussing Bitcoin properly as a form of digital cash remains highly relevant. Few people bring this up because not everyone can use Bitcoin in that way; so when considering the benefits in terms of price appreciation and as a hedge—used as a long-term investment—that perspective is also understandable.

Furthermore, would I stick with it if there were no profits? I don’t think so, because I come from a country where Bitcoin cannot be used as an electronic cash system. For me, one of the most important aspects of Bitcoin—aside from transactions—is that if there are other benefits beyond price that I can recognize, I would stick with it.

[BlackHatCoiner]

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?

This is the same as asking me if I'd use gold as a store of value if it weren't scarce. No, I would not. Bitcoin is primarily useful because it is capped at 21 million, and among other properties, that makes it an ideal asset to protect yourself against inflation.

Bitcoin is also useful as peer-to-peer electronic cash for final settlement transactions across borders, and I would find utility into that even without the hard cap, but I think the most useful property is the hard cap.

[ScamViruS]

~~~

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.

Many investors come to the Bitcoin market to make quick profits in the short term, they actually lose patience when the market does not move according to their expectations and then they talk about the market in various ways. This is actually due to their lack of knowledge about Bitcoin, an experienced person would never react like this. Before buying Bitcoin, it is important for one to know about Bitcoin so that they can know better how the Bitcoin market moves.

Because they should know how the market reacts when Bitcoin goes into a big uptrend. Talking negatively about Bitcoin without knowing anything about it is actually baseless and reflects their lack of knowledge.

[Bastketsrus]

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.

Yeah, I’d still use Bitcoin even without big price moves. It’s already useful for payments and freedom. You can see that in things like bitcoinbetting where people use it more for convenience than profit.

[Donneski]

If we are to be honest to ourselves, we should make peace with that fact that should profit is completely taken out of the equation, a large percentage of people would lose interest. Most people didn’t come into Bitcoin because of ideology or anything similar, they came because they saw the price moving.

That doesn’t mean Bitcoin has no real use, it does especially for cross border payments and escaping certain financial restrictions but if we’re being real, profit is what actually attracts the crowd while utility is what makes a few stay.

So if we should ever find ourselves in such kind of scenario, Bitcoin probably won’t die but the number of users would drop significantly and only those who truly understand it will remain. That's what I think.

[pawanjain]

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.

Yeah, I would still keep using it because it is globally recognized now and enables us to a lot of global opportunities.
It not only helps us with cross border transactions but helps us apply for jobs in other countries as well and receive payment in bitcoin.
Some people mention using bitcoin as a hedge against inflation but since you have already mentioned removing the gains then I think we can't use this point as a bait.

[retreat]

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?

Of course. Let me tell you why I still choose it:

- No entity can intervene in my assets, so I can freely manage them.
- I can use it as a store of value to protect my wealth from inflation in my country, which can sometimes get out of control.
- I can send and receive cross-border payments more easily and quickly than with my complicated bank.

So, actually, beyond profit, Bitcoin has functions that make it much more useful.

[Easteregg69]

You stick with what is most widely accepted.

I register domain on brc. You be a lot of cock juming out of nowhere being someting worth.

What you have to realize is your not getting mad under these conditions. We went to brag about what kind of recipe's we have laying around.

[legiteum]

Bitcoin without profit would be like really really expensive imported Vodka without alcohol: completely pointless.

If Bitcoin was started as a stablecoin, it would still only have a few thousand users worldwide because there would be no reason to promote it.

While most touting Bitcoin talk about all kinds of religious things like "freedom" or whatever, if they were honest they would just say, "please buy Bitcoin so the value of my Bitcoin investment goes up in value".

Take that away and you are left with NOTHING to inspire somebody to promote Bitcoin.

And that's on the individual level. For some holders of Bitcoin, promoting Bitcoin is big business and investing hundreds of millions of dollars in promotion (and more recently, in political donations) is just a cost of doing business that is completely justified by the potential profits.

So in short, no profits = no Bitcoin.

[Rockstarguy]

If Bitcoin is not being volatile and just stable like every other coin, of course it will still be used just like people are using other stable coins. The reason why people prefer Bitcoin to every other digital currency is because of the value that Bitcoin has, and if that value changes, then Bitcoin will be considered as fiat or a stable coin.

The perspective people have about Bitcoin won't remain the same; it will change to the perspective that people have towards other digital currencies.

[ZAINmalik75]

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 transaction fee will also stay stable and won't increase due to congestion then I will still use BTC for payments but you know how people take bitcoin when they hear about it for the first time and how a lot of us already knew sold this idea of btc to others. We first represented it as an investment option then as payment option.

People also tend to attach with something they can make some living on because that's their nature, they try to survive. If they are not getting anything in return they will use it for their time to time benefits like making payments. So a huge amount of people will stop using btc becuase they are here for investments only.

[Easteregg69]

Some is at the format c: To be distracted temporarily.

[Easteregg69]

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 transaction fee will also stay stable and won't increase due to congestion then I will still use BTC for payments but you know how people take bitcoin when they hear about it for the first time and how a lot of us already knew sold this idea of btc to others. We first represented it as an investment option then as payment option.

People also tend to attach with something they can make some living on because that's their nature, they try to survive. If they are not getting anything in return they will use it for their time to time benefits like making payments. So a huge amount of people will stop using btc becuase they are here for investments only.

How come i dont care what you think and still let the stream open? Got it. You have to think for yourself!

They don't want format c back after a couples of times.

[Awaklara]

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 believe that something that has value can certainly generate profit. I don’t know the percentage chance of Bitcoin becoming stable. But if that is possible, the focus might no longer be on mining or trading, but on holding Bitcoin for transactional purposes. The quantity is limited; when there are more transactions and acceptance using Bitcoin, how can the scarcity of that limited amount be addressed? No one can make the value of Bitcoin like an asset that has a stable value.

[PrivacyG]

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 definitely agree with this part.  Bitcoin would be very quiet if it was not offering significant Profits every Cycle.

I would continue to use it and I do not see why others who like Bitcoin would not.  A lot of people have a Cash reserve in their house.  Or in their Bank.  Cash always becomes worth less, so even if it was stable I would feel Safer having a Bitcoin reserve too rather than just Fiat.

Investment opportunity or not, Bitcoin still offers Freedom and control.  It is still probably the easiest Asset to store.  A piece of paper or a screw, a nut and some washers and that is it.  No papers to sign, no vaults that may be robbed et cetera.

[Agbamoni]

I would stick around if im supporting the network even if I'm not gaining anything in return. However, for me to do that, mining will be the best way. In addition, the cost of owning and operating a mining machine will have to be low, because if it is expensive, it will be impossible to support the network. Aside from investment. Currently, those supporting the network through mining get a reward for their contribution, that way they can keep the operation going on. That's what I would do.

[Ziskinberg]

I prefer to still stick around, especially that fiat at the moment is slowly losing its value, bitcoin on the other hand appreciates its value. And to think that inflation is undeniably high, then its good to have bitcoin that could be a good hedge against inflation.

Furthermore, seeing the oil price these days continue to rise, there's no need to go out and travel. Its good that we have bitcoin as a digital payment, at least we can make transactions even across borders just to save time, money and energy.

[Issa56]

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 bitcoin price becomes stable, then people’s attention is going to shift from investment purposes to making use of bitcoin for transactions. Some people are not making transactions with bitcoin currently because they know if they can hold the bitcoin, then they can make profits from it with time, so they will rather hold than to make transactions with it, but when bitcoin price is stable, they going to be seeing bitcoin as a currency which it is and they going to start spending it.

If bitcoin becomes stable, am still going to make use of bitcoin, and going to make transactions with bitcoin as long as there are places that bitcoin is accepted in my location.