Could destroy Bitcoin. But another cryptocoin could emerge and the easiest way to get this new coin would still be by using Bitcoin.
I do not think this could destroy bitcoin however if it had a big impact, I will bet that most alts will get affected too, all the coins are priced on bitcoin, if you want to get alts you need to get bitcoin first, if people began to get rid of their bitcoin because of a collapse then the same will happen to other alts, I think the fate of all alts is linked to bitcoin, if bitcoin fails then everything fails. 
Topic: Cashing out could destroy crypto? (Read 1385 times)
cashing out means that a conuterpart is buying so it is a relative concept. i agree that influences price but in function of pressure: if there is more pressure to cashout the price will fall, rise in the oppposite situation
I kind of agree, nowadays people prefer to used bitcoin as investment rather than currency, but this kind of things happened because of the people that keep on demanding bitcoin and that causing the price to blow up, so I think this kind of thing is inevitable and I am okay for people to used it as investment if it can help bitcoin popularity
Hey Kwukfuck, I decided to hold one bcc but the value just keeps dropping. What's up with that?
YOU HADN'T LISTENED TO HIS ADVICE! you were supposed to buy it at $200, damn you. How dare u disrespect Kwakduck, the saviour. U missed 300% rise, your fault.
Hey Casholder, you said this was gonna take btc's mkt cap and all it's doing is dumping - what's up with that?
Hey Kwukfuck, I decided to hold one bcc but the value just keeps dropping. What's up with that?
YOU HADN'T LISTENED TO HIS ADVICE! you were supposed to buy it at $200, damn you. How dare u disrespect Kwakduck, the saviour. U missed 300% rise, your fault.
Hey Kwukfuck, I decided to hold one bcc but the value just keeps dropping. What's up with that?
Just wondering, Bitcoin started as a project to offer people freedom from bankster/government fiat and the banking system. Yet almost every single person involved in Bitcoin is using it to try to get more of that very thing Bitcoin was designed to 'get rid of'.
I never cared for Bitcoin as an investment vehicle, it's a tool that offers people financial freedom and independance.
Yes tell me again how stupid i was selling cheap and how bad i should feel, notice how i don't care.
Because for me Bitcoin was never about making more Dollars.
If none of the horrible things that are waiting for us in the future will ruin bitcoin, maybe the mindset of people just wanting Bitcoin to gain more fiat will be even more devastating.
This mindset seems to have been increasing for years now...
People don't even ask me anymore how it works or why it was invented, all they care about is how to make fiat with it. My answer is always the same... "Bitcoin is not a good investment for you, only invest in things you understand and believe in."
I never cared for Bitcoin as an investment vehicle, it's a tool that offers people financial freedom and independance.
Yes tell me again how stupid i was selling cheap and how bad i should feel, notice how i don't care.
Because for me Bitcoin was never about making more Dollars.
If none of the horrible things that are waiting for us in the future will ruin bitcoin, maybe the mindset of people just wanting Bitcoin to gain more fiat will be even more devastating.
This mindset seems to have been increasing for years now...
People don't even ask me anymore how it works or why it was invented, all they care about is how to make fiat with it. My answer is always the same... "Bitcoin is not a good investment for you, only invest in things you understand and believe in."
Your argument is right in that people are now more focused on converting bitcoin to fiat using the banking system in which the objective of bitcoin is to dislodge but at the same time the bank has equally helped in no small way ensuring people get access to bitcoin because they are used to fiat which they then use to buy bitcoin.
Yes, cashing out is what is killing any crypto, and there is nothing we can do about it. People invested their money on the cryptos to make profits that's why there are selling whenever they make some profits over. People are looking for profit so whenever they make it then they sell their coins. 
Totally agree! Cashing out on an individual level would not kill bitcoin but if people were to cash out in some sort of coordinated manner because of fud or whatever market fears this definitely would destroy not only bitcoin but several other altcoins with it. 
Yes, cashing out is what is killing any crypto, and there is nothing we can do about it. People invested their money on the cryptos to make profits that's why there are selling whenever they make some profits over. People are looking for profit so whenever they make it then they sell their coins.
Totally agree! Cashing out on an individual level would not kill bitcoin but if people were to cash out in some sort of coordinated manner because of fud or whatever market fears this definitely would destroy not only bitcoin but several other altcoins with it. 
You don't always have to understand everything. You can buy a car without even knowing how to drive it!
Just wondering, Bitcoin started as a project to offer people freedom from bankster/government fiat and the banking system. Yet almost every single person involved in Bitcoin is using it to try to get more of that very thing Bitcoin was designed to 'get rid of'.
I never cared for Bitcoin as an investment vehicle, it's a tool that offers people financial freedom and independance.
Yes tell me again how stupid i was selling cheap and how bad i should feel, notice how i don't care.
Because for me Bitcoin was never about making more Dollars.
If none of the horrible things that are waiting for us in the future will ruin bitcoin, maybe the mindset of people just wanting Bitcoin to gain more fiat will be even more devastating.
This mindset seems to have been increasing for years now...
People don't even ask me anymore how it works or why it was invented, all they care about is how to make fiat with it. My answer is always the same... "Bitcoin is not a good investment for you, only invest in things you understand and believe in."
I never cared for Bitcoin as an investment vehicle, it's a tool that offers people financial freedom and independance.
Yes tell me again how stupid i was selling cheap and how bad i should feel, notice how i don't care.
Because for me Bitcoin was never about making more Dollars.
If none of the horrible things that are waiting for us in the future will ruin bitcoin, maybe the mindset of people just wanting Bitcoin to gain more fiat will be even more devastating.
This mindset seems to have been increasing for years now...
People don't even ask me anymore how it works or why it was invented, all they care about is how to make fiat with it. My answer is always the same... "Bitcoin is not a good investment for you, only invest in things you understand and believe in."
Since the only way to cash out is to sell Bitcoins to another person, I don't think that can bring it down. If you are able to cash out, that means that someone else wants to buy it so it has value. As we can see, the value keeps going up so there must be more people wanting to buy Bitcoins than there are wanting to sell it.
I'm sure there are other ways Bitcoin could die, but I don't think cashing out is one of them.
It is certainly not that simple
You forget that people may have to cash out at a loss, i.e. selling at prices lower than they had first bought the coins at. What does it mean in respect to the point in question? It pretty much means there is less money in the system since they first bought these bitcoins from someone (who might have withdrawn the proceeds himself which made the price drop), and then they withdraw the cash themselves. It could be easily shown that cash-outs are irrelevant when the price is rising, while they become lethal when the price is tanking
Just wondering, Bitcoin started as a project to offer people freedom from bankster/government fiat and the banking system. Yet almost every single person involved in Bitcoin is using it to try to get more of that very thing Bitcoin was designed to 'get rid of'.
I never cared for Bitcoin as an investment vehicle, it's a tool that offers people financial freedom and independance.
Yes tell me again how stupid i was selling cheap and how bad i should feel, notice how i don't care.
Because for me Bitcoin was never about making more Dollars.
If none of the horrible things that are waiting for us in the future will ruin bitcoin, maybe the mindset of people just wanting Bitcoin to gain more fiat will be even more devastating.
This mindset seems to have been increasing for years now...
People don't even ask me anymore how it works or why it was invented, all they care about is how to make fiat with it. My answer is always the same... "Bitcoin is not a good investment for you, only invest in things you understand and believe in."
I never cared for Bitcoin as an investment vehicle, it's a tool that offers people financial freedom and independance.
Yes tell me again how stupid i was selling cheap and how bad i should feel, notice how i don't care.
Because for me Bitcoin was never about making more Dollars.
If none of the horrible things that are waiting for us in the future will ruin bitcoin, maybe the mindset of people just wanting Bitcoin to gain more fiat will be even more devastating.
This mindset seems to have been increasing for years now...
People don't even ask me anymore how it works or why it was invented, all they care about is how to make fiat with it. My answer is always the same... "Bitcoin is not a good investment for you, only invest in things you understand and believe in."
Since the only way to cash out is to sell Bitcoins to another person, I don't think that can bring it down. If you are able to cash out, that means that someone else wants to buy it so it has value. As we can see, the value keeps going up so there must be more people wanting to buy Bitcoins than there are wanting to sell it.
I'm sure there are other ways Bitcoin could die, but I don't think cashing out is one of them.
Just wondering, Bitcoin started as a project to offer people freedom from bankster/government fiat and the banking system. Yet almost every single person involved in Bitcoin is using it to try to get more of that very thing Bitcoin was designed to 'get rid of'.
I never cared for Bitcoin as an investment vehicle, it's a tool that offers people financial freedom and independance.
Yes tell me again how stupid i was selling cheap and how bad i should feel, notice how i don't care.
Because for me Bitcoin was never about making more Dollars.
If none of the horrible things that are waiting for us in the future will ruin bitcoin, maybe the mindset of people just wanting Bitcoin to gain more fiat will be even more devastating.
This mindset seems to have been increasing for years now...
People don't even ask me anymore how it works or why it was invented, all they care about is how to make fiat with it. My answer is always the same... "Bitcoin is not a good investment for you, only invest in things you understand and believe in."
I never cared for Bitcoin as an investment vehicle, it's a tool that offers people financial freedom and independance.
Yes tell me again how stupid i was selling cheap and how bad i should feel, notice how i don't care.
Because for me Bitcoin was never about making more Dollars.
If none of the horrible things that are waiting for us in the future will ruin bitcoin, maybe the mindset of people just wanting Bitcoin to gain more fiat will be even more devastating.
This mindset seems to have been increasing for years now...
People don't even ask me anymore how it works or why it was invented, all they care about is how to make fiat with it. My answer is always the same... "Bitcoin is not a good investment for you, only invest in things you understand and believe in."
So you missed the train
And sold plenty of bitcoins too early at too low a price, did I get right what you actually wanted to say (and now try to rationalize that and persuade yourself by telling us)? Regardless, I don't think that many people actually care for fiat as much as you pretend they do (to the point of cashing out every now and then). Whenever you cash out, you are set to book losses or lose profits (either way). The only point in your whole post which is plausible enough is that about investing only in assets which "you understand and believe in" (and I'm not sure about the believe part)
I think you have a point Duck. I don't think it will destroy crypto, but a speculative economy will see endless bubbles. As long as people want dollars rather than bitcoin they are just trading tokens. When we see more adoption of bitcoin for payments, remittances and other economic activity then we will really ramp up.
Its very surprising to see mr.kwukduck praising bitcoin.Its true that bitcoin was created to free people from banking sector.But when its value is highly increasing,there is nothing wrong to treat it as an asset and get utmost benefit from it.People have benefited much from bitcoins and they have found it as a new way of earning.It would only help for the progress of bitcoin and would not destroy it.
kwukduck usually only creates threads to bash bitcoin and announce the big next crash, so it was good to see an interesting post for once.
I also think there's nothing wrong with speculating with it. As long as you don't go 100% fiat in your movements and you keep some BTC, you are helping BTC.
In order for BTC to defeat fiat, everyone would need to use it and everyone would need to sell all of their fiat for BTC. This will not be easy, but inflation on fiat currencies and deflation on BTC will guarantee it keeps going up as an asset.
Just wondering, Bitcoin started as a project to offer people freedom from bankster/government fiat and the banking system. Yet almost every single person involved in Bitcoin is using it to try to get more of that very thing Bitcoin was designed to 'get rid of'.
I never cared for Bitcoin as an investment vehicle, it's a tool that offers people financial freedom and independance.
Yes tell me again how stupid i was selling cheap and how bad i should feel, notice how i don't care.
Because for me Bitcoin was never about making more Dollars.
If none of the horrible things that are waiting for us in the future will ruin bitcoin, maybe the mindset of people just wanting Bitcoin to gain more fiat will be even more devastating.
This mindset seems to have been increasing for years now...
People don't even ask me anymore how it works or why it was invented, all they care about is how to make fiat with it. My answer is always the same... "Bitcoin is not a good investment for you, only invest in things you understand and believe in."
All people have different aims and would really depend on how they did know about bitcoin. If someone explains them that bitcoin is just really being created for a new payment system then it would be great but later on he would really discover on making money too out of it which i do strongly believe that he would really focus on this one knowing that people on this world do really crave for money and you cant really changed that thing.Its always been part of being human of being greedy with money. I never cared for Bitcoin as an investment vehicle, it's a tool that offers people financial freedom and independance.
Yes tell me again how stupid i was selling cheap and how bad i should feel, notice how i don't care.
Because for me Bitcoin was never about making more Dollars.
If none of the horrible things that are waiting for us in the future will ruin bitcoin, maybe the mindset of people just wanting Bitcoin to gain more fiat will be even more devastating.
This mindset seems to have been increasing for years now...
People don't even ask me anymore how it works or why it was invented, all they care about is how to make fiat with it. My answer is always the same... "Bitcoin is not a good investment for you, only invest in things you understand and believe in."
Yes, cashing out is what is killing any crypto, and there is nothing we can do about it. People invested their money on the cryptos to make profits that's why there are selling whenever they make some profits over. People are looking for profit so whenever they make it then they sell their coins.
Could destroy Bitcoin. But another cryptocoin could emerge and the easiest way to get this new coin would still be by using Bitcoin.
Your argument is not logical my friend. Bitcoin is the ancestor of all the crptocurrencies and if bitcoin dies, the rest cannot survive in this ecosystem. I also don't think bitcoin can die because of cash out transactions. Cashing out is the part of this business and not a threat.
If people cash out into AltCoins Bitcoin can be destroyed, but another currency can emerge, no?
If everyone cashes out their Bitcoin into fiat Crypto-Currency world would die, as the demand would decrease considerably. Too much supply for low demand...
There's a false dichotomy that Bitcoin can be either investment or currency, in fact it can easily be both - you save Bitcoins to preserve and increase their value, but also spend them when you really want to. Fiat value is actually irrelevant, because the market value of Bitcoin will keep growing, no matter in what it will be measured - gold, dollars, goods, oil, etc. If you will only spend Bitcoins directly, you will notice that prices in Bitcoins will be going down - from BTCs to mBTCs to thousands of satoshis. Right now fiat is just very useful tool for measuring value, so people care about Bitcoin's price.
Could destroy Bitcoin. But another cryptocoin could emerge and the easiest way to get this new coin would still be by using Bitcoin.
Your argument is not logical my friend. Bitcoin is the ancestor of all the crptocurrencies and if bitcoin dies, the rest cannot survive in this ecosystem. I also don't think bitcoin can die because of cash out transactions. Cashing out is the part of this business and not a threat.
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