If 1 million BTC users keep 10BTC would it save us from dead?

[Dread Pirate Roberts]

thats will be really good .but not all  people want to holding like that

[anonyymi]

I'm up for the challenge.
10 BTC isn't that much with its current price.

Currently owning 5 BTC so am halfway.

[inBitweTrust]

I know of the complicated way to do so , but what is the easiest way for a newbie to nTimelock their coins on the blockchain?

[Elwar]

Holding bitcoin does nothing for Bitcoin.

If 1 million people hold 10 bitcoins and do nothing with it, it only affects supply.

But if people use Bitcoin by spending it, it might get converted right back to fiat but by doing so you are helping to expand the Bitcoin economy.

The larger the Bitcoin economy, then instead of 1 million people holding 10 bitcoins you might have 10 million moving bitcoin through their hands for a tenth of the time but it would affect supply the same way. But that economy would grow and become more useful to the point that it does not need to be converted right back into fiat and a large supply of bitcoins simply stay in the Bitcoin economy.

Do not focus on price, focus on what can be done to expand the Bitcoin economy.

[inBitweTrust]

Holding bitcoin does nothing for Bitcoin.

If 1 million people hold 10 bitcoins and do nothing with it, it only affects supply.

But if people use Bitcoin by spending it, it might get converted right back to fiat but by doing so you are helping to expand the Bitcoin economy.

The larger the Bitcoin economy, then instead of 1 million people holding 10 bitcoins you might have 10 million moving bitcoin through their hands for a tenth of the time but it would affect supply the same way. But that economy would grow and become more useful to the point that it does not need to be converted right back into fiat and a large supply of bitcoins simply stay in the Bitcoin economy.

Do not focus on price, focus on what can be done to expand the Bitcoin economy.

Agree, price doesn't matter.... but it does kinda does .... Bitcoin has a PR problem right now. People that have been around for years aren't as concerned with bitcoin capitulating after the last bubble but most of the world only remembers 1 of the many crashes and think Bitcoin is done. Before the last bubble people were eager to learn about Bitcoin, now they are dismissive suggesting it is already dead. Once bitcoin surpasses 1100 again than the collective subconscious of the world will be forever changed because they witnessed the recovery and growth.

But I believe the OP sentiment was to hold BTC and than buy more to use , spend and tip. I.E.. if 100k poeple nTimelock 10BTC than that would indirectly (we are placed in a position to be forced to save) remove supply from the marketplace driving up price and than having a positive feedback loop for the mainstream public. It would also signal VC and other businesses that we are committed to the protocol and aren't going anywhere(many fear that we will sell BTC for another alt at a moments notice).

Warning - The nTimelocks would need to be staggered as not to create a massive dump to fiat when they expire however.  

[sava7]

Hi,
if eonly 1 million BTC users/community keep 10BTC(more ppl keep more then 10BTC) long time the price would be stable and rise in my opinion, i think most BTC community hold far less below 10BTC, but they spoke as BTC kings, problem is also short traders, BTC should not be like regular stock market in my opinion, idea of BTC was different, but short ppl will always fight about 1usd taken from BTC trading, i would not call them BTC community cause they help fiat not BTC, so is it big proble to get 1 millions of us to keep 10BTC or more? Maybe i think wrong, but it would take ppl from short trading and close all manipulations, we are honest in here or not, or we just speak one thing and to another to scam other members, was it always like that? Why ppl looks like they mostly are centmakers? We can only win and laugh after we will keep 10BTC each minimum long time. Newcomers will buy new generated coins and all will work great. If we will talk having no BTC at the same time our talking is useless:)

just my few words:)

Bitcoin is a spendable coin. It don't die because the value goes down. You are an idiot. 

thanks for answer, but call ppl idiots make BTC better looking in their eyes? so who is an idiot?

[sava7]

thats will be really good .but not all  people want to holding like that

they can spent BTC for goods, buy things etc, maybe not only hold, spent and buy more, but i meant not only buy wait for price rising and dump to get more fiat

[sava7]

Holding bitcoin does nothing for Bitcoin.

If 1 million people hold 10 bitcoins and do nothing with it, it only affects supply.

But if people use Bitcoin by spending it, it might get converted right back to fiat but by doing so you are helping to expand the Bitcoin economy.

The larger the Bitcoin economy, then instead of 1 million people holding 10 bitcoins you might have 10 million moving bitcoin through their hands for a tenth of the time but it would affect supply the same way. But that economy would grow and become more useful to the point that it does not need to be converted right back into fiat and a large supply of bitcoins simply stay in the Bitcoin economy.

Do not focus on price, focus on what can be done to expand the Bitcoin economy.

Totally agree, but i think newcomers are attracted by price first, then they start to think what to do with BTC

[tokeweed]

Holding bitcoin does nothing for Bitcoin.

If 1 million people hold 10 bitcoins and do nothing with it, it only affects supply.

But if people use Bitcoin by spending it, it might get converted right back to fiat but by doing so you are helping to expand the Bitcoin economy.

The larger the Bitcoin economy, then instead of 1 million people holding 10 bitcoins you might have 10 million moving bitcoin through their hands for a tenth of the time but it would affect supply the same way. But that economy would grow and become more useful to the point that it does not need to be converted right back into fiat and a large supply of bitcoins simply stay in the Bitcoin economy.

Do not focus on price, focus on what can be done to expand the Bitcoin economy.

Totally agree, but i think newcomers are attracted by price first, then they start to think what to do with BTC

won't new comers find bitcoin attractive if it was quite cheaper?

[sava7]

Holding bitcoin does nothing for Bitcoin.

If 1 million people hold 10 bitcoins and do nothing with it, it only affects supply.

But if people use Bitcoin by spending it, it might get converted right back to fiat but by doing so you are helping to expand the Bitcoin economy.

The larger the Bitcoin economy, then instead of 1 million people holding 10 bitcoins you might have 10 million moving bitcoin through their hands for a tenth of the time but it would affect supply the same way. But that economy would grow and become more useful to the point that it does not need to be converted right back into fiat and a large supply of bitcoins simply stay in the Bitcoin economy.

Do not focus on price, focus on what can be done to expand the Bitcoin economy.

Totally agree, but i think newcomers are attracted by price first, then they start to think what to do with BTC

won't new comers find bitcoin attractive if it was quite cheaper?

yes they will, but also many came and bought over 1k usd after TV show:) if price will be cheaper it is also ok with me, but before newcomers will buy probably rich speculators will buy it first and we will start speculations again:)

[johnyj]

Even they hold 100 BTC, and there is only one btc for sell, if the buying order is only $1, then the exchange rate will be $1

The exchange rate is decided by the daily fiat money inflow vs amount of daily bitcoin sell. Suppose that the daily sell is 10 thousand coins on market, and the daily fiat money inflow will need to be 2 million USD to keep the exchange rate at $200

Divide that number by 1 million users, each user should buy $2 worth of bitcoin every day to make that happen, it is not a big deal if everyone buy it slowly and steadily, but if they rush, the price will move up and down dramatically

[A.F.K]

Fewer people than that will affect the Bitcoin price. Few individuals will be able to game it.  For now.

[johnyj]

Every time it crashes, there will be many people who missed the train jump on again, and they usually holds a bit more fiat than last year due to forever increasing fiat money supply, so it will correct by itself

[Possum577]

Hell nah! If no one makes transactions the system could still die.

[Q7]

I can tell you one thing, if only the community speaks in one voice. However, so many people around have so many different opinions which make it hard to set direction for bitcoin. Fact is that is never going to happen. What we can do is keep on telling and reminding to HOLD

[bornil267645]

Well 10 BTC is a lot at current market because I have talked to my folks and most of them have sold their bitcoins already. And rest of them have quite a few. This goes for most of the new bitcoin user who have panicked in the situation. So I think that's not a bad idea. But need some investments though at the same time from somewhere.

[sifter]

I don't see what it would.

It could still crash and hit 0

but the holders wont have any influence.

[inBitweTrust]

I don't see what it would.

It could still crash and hit 0

but the holders wont have any influence.

nTimelocking funds simply forces the HodLers to stick by their principles for their core savings. They can still buy and sell Bitcoin and influence the market by buying more on dips.

Bitcoin could never go to 0 as many people like myself would buy 100% of coins under 10usd. Locking in savings like a trust fund with nTimelock just helps insure that Bitcoin keeps growing in marketshare.

[botany]

When 1 million BTC holders try to acquire 10 BTC each, the price would skyrocket.
Lot of people would profit and then the price would drop. 

[Brewins]

When 1 million BTC holders try to acquire 10 BTC each, the price would skyrocket.
Lot of people would profit and then the price would drop. 

If 1M people try to acquire 10 BTC, then they will just give up or fail with their goals because the rise on price.