Topic: If one day BTC cannot be traded for cash, what will you do? - page 7. (Read 6372 times)

I have 3,000 hungarian forints in my wallet, right now. That's cash but I'm quite far from Hungary right now, and there's no place where I could exchange them to the local currency. So they're basically worthless, but as I'm planning to go back to Hungary in a few months, I'll keep them preciously. Same thing could happen to BTC. It could be worthless among the majority, but a minority will keep on believing in it, so it'll keep some value elsewhere, among other people.

hen I will not have any problem, as I can easily use it for my shopping on online stores, showpal is also a good place to shop from online store and with that I also can do trade to the altcoins and can sell that coins.

Thread makes no sense   

What in the world could make BTC untreadeable for cash? And how in that kind of scenario would it be tradeable for anything else at all? How would then anybody want to or be able to still buy them on say purse.io (so you can spend them)?

This thread makes no sense...

Is it about the market price going straight to $0? That's only possible if there's nobody that would want to pay a penny just to own a record in the oldest blockchain.
Is it about some kind of law prohibiting fiat<->crypto exchanging? Then why would anyone accept it for goods or services at all? Are we assuming 100% of all humans on the entire planet would abide by this law and no black markets would emerge?
Is it about a hypothetical technological innovation/advancement that would be strictly better than Bitcoin in every possible way and not worse in any single way - something that would obsolete Bitcoin entirely and cause all miners to turn off their machines? Even then the old BTC would still retain some value as a collectible, even though it would require significant money to pay someone to run a miner and write a block.
Is it about a technological or environmental catastrophy that would break Bitcoin beyond any possible use? Global nuclear war? Massive worldwide neverending electromagnetic storm? Invention of a way to break into any computer from a sattelite and just delete all copies of the blockchain in existence?

Or is it about a scenario where you cannot trade BTC for cash because there's no cash other than BTC - that case would be epic win.

You need to be more specific with the doom and gloom visions so we can discuss reasonable outcomes or rather convince you it's just impossible to happen.

it is really simple, i would just buy a lot of steam games in order not to throw away bitcoins i already have

I think there would still be some sort of background market that will hold the value for bitcoins. I think bitcoin has come to this status where there is no turning back. It will always hold some sort of increasing spending value that will never go away.

bitcoin as the most popular cryptocurrency currently and if that really happening then this is could be end of the cryptocurrency world because all bitcoin and altcoins exchanges will be closed it mean nobody can using bitcoin any longer and i think nothing we can do beside look bitcoin balance in our wallet without traded for cash

i would also spend my bitcoins on some digital goods in order to benefit as much as possible from it, i think that would be the best decision

I think if bitcoin could not be in exchange for cash of course bitcoin will no longer valuable. and if bitcoin has no value, then you will not be able to spend bitcoin anywhere? because bitcoin no longer have a price? I think it will not happen while users continue to use bitcoin

I think their wont be much difference in the market if BTC is not traded for one day, if it continues for 2 or more days then the panic will start in the bitcoin world and we can see the selling pressure as soon as the BTC trading starts in the exchanges.

since i don't buy btc in the first place, i really wouldn't mind if bitcoin will have no use anymore as we can't convert it to fiat. i will just give my time to other things and try to be more productive as i can be with my life

Well if Bitcoin is accepted everywhere before that happens, I wouldn't mind


But if it's only available to spend at very limited places, then i'd be gutted.

I'll be like thank god I didn't convert my life savings to Bitcoin  It won't be that bad though if Bitcoin is accepted everywhere anyway. I definitely wouldn't want to be left with only Bitcoins right now. If that happened today and I could no longer use my Bitcoins, I'd simply write it off as a loss and move on.

There are already many stores,shops,sites that accept bitcoin as payment so if I wanted to buy something that I need then I can just go to those shops. If I can't buy something that I need and I need to convert it to fiat then I can just ask others if there is something that they need on those shops or sites and I will buy it then I will sell it to the one who needed it in exchange for cash. In this way, my bitcoin will still be useful.

if bitcoin cannot traded for cash then spend it on some sites like games etc. or convert it to the different coin ,as crypto currencies there is always future. i believe there will be many site offers different services for bitcoins ,converting to different crypto currency may work  i believe..

Bitcoin may or may not be the future of economics, but Cryptocurrencies definitely are.

More likely altcoin will be worhtless too, anyway there is no other way but to move on. And wait till someone push bitcoin value again and convert it to cash.  As for me, what should I do? No exchange, no merchant, so there is nothing left for me to do but hold it in my stash   This is the literal long term holding  to the infinite lol.

I would cry    . or maybe panic trade them to other altcoins.

How do you think purse.io pays amazon? By Bitcoins ? Common sense,mate.That will never happen,if people can't buy bitcoins with cash,how are they suppose to buy it ?Bitcoin has the value in the market because of its demand as a valuable asset in the economy.The day BTC cannot be traded for cash is the end of bitcoins.Maybe if the cash system is completely dropped and only crypto governs the economy ,bitcoins will hold its value.But wait,how would you know how much worth are the bitcoins without associating them with cash ?

That will happen eventually, when people realize fiat is obsolete and dump the dollar. When that happens we'll just stop using fiat altogether, and stick to Bitcoin for making purchases.

Are you sure they will still be accepting bitcoin once it cannot be turned to cash? If I am the ownet of purse I will also stop accepting it. What will he do with it? There is a value but cannot be used? How will I feed myself with a bitcoin that cannot buy anything.