Topic: If one day BTC cannot be traded for cash, what will you do? - page 5. (Read 6352 times)
September 01, 2016, 12:04:10 AM
If BTC cannot be traded for cash for only one day then it wont be much problem , but if it is continue to not being traded in long time. then confirmly it is going to lose the confidence from the holders and invested users as most of them are using bitcoins to covert it to their fiat currency as still lot of country dont have bitcoins shops but even if their are shops if the cash trading is stopped then this shops will also surely stop accepting bitcoins.
If that will happen i can still used it for paying my bills, shop online and many more that is because my bitcoin wallet has a great services even i can exchange it into fiat there are many other method to do in bitcoin. but i think this will never happen bitcoin always need fiat this will use in buying bitcoin or investing in bitcoin.
If bitcoin would not be traded for cash then you definitely cant use them even on online because those merchants use fiat money to their goods and they wouldnt allow that someone would buy with the payment of bitcoin that cant be already converted to cash. Then its impossible for you to use them.
If that will happen i can still used it for paying my bills, shop online and many more that is because my bitcoin wallet has a great services even i can exchange it into fiat there are many other method to do in bitcoin. but i think this will never happen bitcoin always need fiat this will use in buying bitcoin or investing in bitcoin.
There won't be that day until bitcoin will be alive LD So if bitcoin dies, than I think many alt currency will be dead and cryptocurrency world will become a terrible place.
Solution in that situation is to trade with usd/euro or something similar.
PS All that depends on huge players and goverments, I think that because big people are making money with it illegally.
Solution in that situation is to trade with usd/euro or something similar.
PS All that depends on huge players and goverments, I think that because big people are making money with it illegally.
This will never happen as even drugs can't be sold legally but they still get do. The only result would be a fall in prices.
If bitcoin can not be traded into cash you will not use it or spend it but you can be still holding it for a long time and wait again that bitcoin will be accept to trade again in fiat or cash..
Bitcoin will last longer than fiat. The USD for instance, only has a couple years left, I would say about thirty. The federal reserve is a Ponzi scheme and like all Ponzi schemes, it will inevitably collapse.
If bitcoin can not be traded into cash you will not use it or spend it but you can be still holding it for a long time and wait again that bitcoin will be accept to trade again in fiat or cash..
Bitcoin will last longer than fiat. The USD for instance, only has a couple years left, I would say about thirty. The federal reserve is a Ponzi scheme and like all Ponzi schemes, it will inevitably collapse.
If bitcoin can not be traded into cash you will not use it or spend it but you can be still holding it for a long time and wait again that bitcoin will be accept to trade again in fiat or cash..
I will spend all my bitcoins on Purse.io.
If it cannot be changed to cash then what purse.io will do with the bitcoins you shop from there? If it is not possible to convert them to cash then probably no shop would be accepting it as it would be useless, so spending them the way you mentioned is quite senseless i guess.
Yes you are right. That pay through bitcoin button will be gone there once they see there would be nothing to profit in it. Just an idiot would be willing to still receive it without getting anything out of it. How can he buy new stocks to sell if he cant make it a money.
I will spend all my bitcoins on Purse.io.
If it cannot be changed to cash then what purse.io will do with the bitcoins you shop from there? If it is not possible to convert them to cash then probably no shop would be accepting it as it would be useless, so spending them the way you mentioned is quite senseless i guess.
That could mean two things:
1.That cash no longer exist which means that governments around the world were successful on the war against cash.
2.That fiat has finally collapsed and bitcoin has won the currency war.
1.That cash no longer exist which means that governments around the world were successful on the war against cash.
2.That fiat has finally collapsed and bitcoin has won the currency war.
I will spend all my bitcoins on Purse.io.
Bitcoin is not designed just to convert them into cash but trading bitcoin for things and mostly for online purpose but also for offline in the near future where we can free purchase coffee in the restaurant. What would I do If one day BTC cannot be traded for cash is spending them for digital goods, gift cards etc.
Why can't you just spend it instead?
You can spend btc at thousands of places worldwide.
You can spend btc at thousands of places worldwide.
I secondly agree with you...btc can be spend world around...
I really dont want to think about that for whatever reason but if it eventually happens, I am sure there will be another way to use the bitcoin in which we are all going to go for. But its going to be a great setback...
that would be bad for me too, i think that a lot of people wouldnt use it then and i wouldnt be able to make money with it 
I will spend all my bitcoins on Purse.io.
If it Really Happens Then I Will Exchange My All Bitcoins Into Some Other Altcoins And Then I Will Exchange the Altcoin Into Cash.... Only this way Remains To Get Back Your Money.....
How can you get back your money with altcoin? As soon as Bitcoin cannot be converted/traded to cash then automatically this altcoin will be in the same scenario as bitcoin. Nothing to do but move on, hold bitcoin forget about it and wait till it get to trade with cash again. Of course participate in campaign for bitcoin to be traded back to cash.
Correct, its an impossible thing since you cant convert it yo cash in any way because alts are dependent to bitcoin which serves as the roots. If bitcoin would lose its value and cant be converted anymore then all of its pairs altcoin would die also for sure. As he said just move on and leave those coins and hope for it comeback anytime soon.
Wouldn't effect me at all. I hate fiat.
I really dont want to think about that for whatever reason but if it eventually happens, I am sure there will be another way to use the bitcoin in which we are all going to go for. But its going to be a great setback...
well it would be really bad then because a lot of people would be disappointed and stop using bitcoins at all as it wouldnt make them earn big moneyDefinitely as in most of the country still bitcoin is not usable so they are just converting to the fiat currency and enjoying the bitcoin, but if that process is stopped then obviously it means bitcoin is dead.
I really dont want to think about that for whatever reason but if it eventually happens, I am sure there will be another way to use the bitcoin in which we are all going to go for. But its going to be a great setback...
yeah i dont want to even thing about it too, i hope that i will always be able to trade it for cash
Firstly lets think why bitcoin can not be traded for cash i mean on what cases one can be that no trader accepts it anymore but still it will have its orignal value
I have never bought or sold bitcoin for cash, so this would not affect me.
And I think most of the bitcoin users have not done that as well.
Buying bitcoin usually happens by bank account,l paypal or whatever.
Besides, how should it work that bitcoin could not be sold/bought by cash?
I see no technically possible way to mak that happen (except prohibiting cash in general).
And I think most of the bitcoin users have not done that as well.
Buying bitcoin usually happens by bank account,l paypal or whatever.
Besides, how should it work that bitcoin could not be sold/bought by cash?
I see no technically possible way to mak that happen (except prohibiting cash in general).
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