Bitcoin without profit: would you stick around?

[BlackHatCoiner]

So, even though Bitcoin may stabilize someday and become unprofitable to hold, we can still explore different approaches to Bitcoin advantages and benefits.

Bitcoin will never stabilize as long as we're measuring it against fiat. As long as fiat exists, it will suck entropy from it, and it will grow in value indefinitely, until all fiat shitcoins are dead. And even when that happens, it will continue to not be stable, because hard money is supposed to buy you more overtime. Deflation is the natural order of things, and why we work and hold hard money.

Indeed, one could say that US dollars are a hedge against Bitcoin .

Bookmarking this, so I can say that it aged like dogshit wrapped in catshit next year.

[Catenaccio]

Bitcoin will never stabilize as long as we're measuring it against fiat. As long as fiat exists, it will suck entropy from it, and it will grow in value indefinitely, until all fiat shitcoins are dead. And even when that happens, it will continue to not be stable, because hard money is supposed to buy you more overtime. Deflation is the natural order of things, and why we work and hold hard money.

With the hobbies of governments and central banks to print more and more fiat currencies with time, firstly their fiat currencies' purchasing powers decrease a lot over time, secondly people will look for safe heavens like gold and Bitcoin in order to keep their money safely from inflation of fiat currencies, and more than that these assets grow very well in values over time.

With Bitcoin limited supply and 20M bitcoins already mined so far, there is only 1M left for mining in many blocks till 2140 year, in the future the new demands on bitcoin will be bigger than future supply (only 1M new bitcoin in the future), and it will make price rising a lot.

Between gold and Bitcoin, Bitcoin has better potential to grow in value and price in future years.

[BitJannik]

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.

That's actually a good question to think about. To be honest, a lot of people are here because of profit. If bitcoin becomes stable and there's no big gains, many would probably lose interest. But at the same time, bitcoin still has real use, people use it to send money across countries, get around banking limits, and in some places, protect their money from inflation.

So even without profit, it still works. It just won't be as exciting for most people. I'd say the ones who stay are the people who actually understand what bitcoin is for, not just those chasing quick gains.

[Obim34]

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.

Profits is always an incentive, if not for profits I personally would be hesitant venturing in Bitcoin. The economy is very hardened that whatever activity we do has to come with future gains, I might use Bitcoin once in a while but how many people do i know that lives across borders, if not directly on Bitcoin potential to generate profits, I believe we will have less population in the market.

[Minor Miner]

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.

Profits is always an incentive, if not for profits I personally would be hesitant venturing in Bitcoin. The economy is very hardened that whatever activity we do has to come with future gains, I might use Bitcoin once in a while but how many people do i know that lives across borders, if not directly on Bitcoin potential to generate profits, I believe we will have less population in the market.

Indeed, profit is the incentive and top priority when talking about bitcoin these days. I have noticed that most of us are only interested in the price and volatility of bitcoin most of the time. But what is quite confusing is that many people deny that profit the motivation behind why they chose Bitcoin.
I see nothing to be ashamed of in admitting that.

Many people keep talking about cross border transactions, but I wonder if any of us, ordinary people actually do that every day? Cross border transactions are a significant advantage of Bitcoin over traditional system, but we should not use that as an excuse. That does not sound very convincing.

[Emeraldo]

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.

Every investor wants to make a profit and returns on investments so talking about Bitcoin I think if the situation is for a long period of time then definitely I can be certain of profit so my advice is to not be an investor that can not hold  for a long period of time because threading that path might lead to  loses instead of profits. So in the long run everyone wants to alteast make a profit no investor will want to invest in a profit that he or she is sure to not get any profit in return so I don't think there will be the joy of investing if there isn't some hopes of making profit.

[whiteblue]

Profits are most people and that is what causes bitcoin to be accepted by many people and even countries, without any profit I doubt bitcoin will be as big as it is now, because now also most of the bitcoin holders are aiming for investment nothing but for the benefit of price fluctuations which is the advantage of bitcoin that is the reason.
 
Such as for transactions, I am in a country that prohibits other currencies to be used in transactions, therefore it is very unlikely, except for cross-border or overseas transactions to conduct export or import trade that requires other currencies as a means of payment, but how often do you do that? if the price is stable then maybe only for converts only as a condition of the transaction running.
It's hard to talk about bitcoin without profit.

[Stable090]

That's actually a good question to think about. To be honest, a lot of people are here because of profit. If bitcoin becomes stable and there's no big gains, many would probably lose interest.

Are you not also in crypto space because of profits? Most people investing in bitcoin or trading bitcoin are just doing it because of money which they are going to make. Right now most of the people in crypto space are just after money, and nothing more, just few set of people are thinking about how they can be making transactions with bitcoin and other things like that, the rest are after money.

I don’t know if bitcoin price is going to be stable later in the future, let’s see maybe bitcoin is going to get less attention, but I don’t really know when that’s going to happen, but even when that happens, people are still going to be making use of bitcoin.

[Hazink]

If I want to agree with anyone about using bitcoin just because of it's privacy, decentralised and borderless features alone then it's going to be about the genesis adoptors of bitcoin when profit wasn't anything to go by.

Now that the majority of us who come to the industry are being attracted by profit, that does not mean we should not take a look into privacy and their ability to conduct broad transactions without limitation. It will be hard for some to adopt, but that will be dependent on individuals. Most people who have an addictional need for using it can easily cope like using it for internal payment, for financial security etc.

[AVE5]

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

The bitcoin regulatory resistance is also part of the categories revolving within the space of which we've also witnessed impact of the government being against the decentralized financial technology which as a result spikes skepticism amongst newbies faith on trusting the blockchain after learning about its decentralized factors.
Some users are consciously concerned about it and some are relaxed and those who appreciates that decentralized concepts ever remains appreciated with the system.
So let's not also forget to include it as one important factor being influenced amongst the Defi technology users.

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?

The blockchain regulatory resistance and other digital concepts with it potential store of values where it holds bound to hedge against inflations can't be enough interesting properties to why it's being generously adopted.
Don't forget that the stability of the fiats makes it lost value in the economy sector, bitcoin being one makes it very less value as much too.

[LastKiss]

~snip~

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 first came across Bitcoin randomly on the internet while I was looking for a way to earn money online. At the time, I didn’t know it would grow into something so profitable in the future. Personally, I believe that as long as there are opportunities for people to make money from it, Bitcoin will remain popular and I’ll continue to stick with it. The same goes for blockchain technology, many people are adopting it to create new things and develop useful systems and many investors are willing to invest in it. This creates even more opportunities for people to earn money from the new tech.

Take USDT as a stablecoin for example. If people didn’t care about its use case, I believe stablecoins wouldn’t be as popular as they are now. We already have fiat currencies and it’s easy to buy Bitcoin through banks using fiat money, so why are stablecoins still popular? We’ve already seen many booming trends in crypto, such as DeFi, NFTs and meme coin seasons. During those times, Bitcoin trend often declined. People took advantage of those trends to make more profit, although many also lost money and later returned to Bitcoin. Its limited supply is what makes it different from other assets, even as a medium of payment.

[cocadalcan]

If a trader is asked what Bitcoin is, he will explain it as a way to make money and all other strategies will seem worthless to him. For an investor, that explanation will be far-reaching and systematic. The differences in thinking and actions of individuals reveal how they maintain their views on Bitcoin.

The volatility of Bitcoin's price is one of the reasons why it attracts investors and increases in value. The main feature is that when the price is volatile and it is strong, it will be more attractive to investors in the future.

You will find a large part of investors who are buying Bitcoin regardless of the price and are in a long term accumulation strategy. They think that the price of Bitcoin will reach such a high level in the future that they will make huge profits and if the price does not reach the appropriate level they have estimated, they will continue to run DCA for longer periods. This is their mental preparation but traders will think the opposite. The differences in thinking and actions of individuals determine different results for them.

[imthegreat]

If Bitcoin doesn't have a value, it will only be used by enthusiasts like the ones who were at the beginning of the digital gold journey. It will be driven solely by curiosity. I was wondering what would happen if I wanted to send money to a friend abroad. However, I couldn't do that because it wouldn't have a price. Well, I could do it, but what's the point of sending something and receiving it on the other side of the world if it doesn't have any value? This action is full of enthusiasm and interest, but not of benefit or practical meaning.

[FinneysTrueVision]

I am naturally skeptical of fiat and centralized authority. That is why I became interested in Bitcoin to begin with. I have always assumed that eventually it would become less volatile, which would mean less of an upside and less of an opportunity to make life changing wealth from simply holding for a long enough time. I am fine with the price being more stable and would hold it regardless. I can’t say that fiat money looks very attractive right now. Bitcoin might not make you rich, but it won’t be continually debased and its policy isn’t controlled by war mongering psychopaths.

[vanesha]

In my opinion, Bitcoin will persist, but investors will decrease. Its price may be stable for a very long time, but its utility is already almost global. In this case, I believe other coins will replace Bitcoin due to its hype and pump, but Bitcoin will not disappear; in fact, it will reach its ultimate goal. If what you say is true, Bitcoin is used for transactions, then Bitcoin has succeeded in achieving its goal. Bitcoin as an investment is actually an option that many people may not have considered, but it is happening now.

[abaeze]

Those who believe in Satoshi Nakamoto's concept will stay in Bitcoin and I think no one will leave Bitcoin then, because the world will continue to operate in that financial system. Because Bitcoin will be at the forefront of the cashless financial system due to its ease of use and security. Those who think of Bitcoin only as a digital currency will stay with it, but those who see it as the key to making profits will invest more. Because if the decentralized financial system does not provide an opportunity for profit, they will use Bitcoin as a cross border payment system to sustain their businesses.

Those who truly understand what Bitcoin is? They will never leave Bitcoin even if the profit goes away or there is no volatility. Even if it is assumed for the sake of argument, I think they are very insignificant in percentage and because of them there will be no problem or profit in the decentralized system of Bitcoin.  Just as if you have a headache and cut off your head, there will be no problem with your head, the main problem will be that your life will be lost, similarly, if there are no users due to lack of volatility, then the problem will not be with Bitcoin but with all those people. And those who stay with Bitcoin will stay with them, whether they are Bitcoin investors, traders, or Bitcoin believers, because Bitcoin is not just a money making machine, but a tool for financial freedom and preventing corruption.

[Eternad]

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?

Stable coins was introduced due to the volatility of Bitcoin and altcoin market so assuming Bitcoin will be Stablecoin I believe many will still use it since USDT for example is a most used stablecoin available and I doubt it can beat Bitcoin on this category.

There will still altcoin to be pair on Bitcoin as stablecoin which means I will still use it more frequently than I’m using it now.

It will be use to secure profit from altcoin rather than as an investment itself.

[coolcoinz]

No asset is stable. Even the so called stable coins pegged to fiat currencies aren't stable. Just look at the DXY (USD index) - its yearly change is 4%, so even if BTC became as stable as one of those world reserve currencies, you could expect it to move by a few % a year.

If that were to happen banks and institutions would start paying you interest, since they love stable assets because they can loan them and rehypothecate. People would still make money holding it and with greatly reduced downside risk.

I'd definitely hold a global asset that protects me from inflation, is accepted by banks and institutions and can be hidden on a small memory card. 

[MusaPk]

I am naturally skeptical of fiat and centralized authority. That is why I became interested in Bitcoin to begin with. I have always assumed that eventually it would become less volatile, which would mean less of an upside and less of an opportunity to make life changing wealth from simply holding for a long enough time. I am fine with the price being more stable and would hold it regardless. I can’t say that fiat money looks very attractive right now. Bitcoin might not make you rich, but it won’t be continually debased and its policy isn’t controlled by war mongering psychopaths.

The price volatility of Bitcoin is not a problem rather its a good feature. Its because of volatility that price of Bitcoin has gone up from almost zero to 120,000$ in almost 16 years. Now due to volatility, Bitcoin price has dropped to 67,000$ and thats a good opportunity for all of us to buy Bitcoin specially those who came to know about Bitcoin when it was at 120,000$. We need to understand what Bitcoin price volatility is and how we can take advantage of that volatility. This will help us in getting maximum return from Bitcoins. 

[RumorCipher]

honestly, bitcoin without profit just becomes normal money. less hype, less noise, but probably more real usage. the question is now who actually understands why it exists