if BTC cannot be traded for cash for sure some people maybe already not hold bitcoin anymore because rumor will spread first and we all know people always trust rumor so they will sell their coins first before the time has come
I think as long as users continue to believe in bitcoin, and bitcoin users continue to use it until whenever bitcoin will be in exchange for cash or to fiat. so long as you're using bitcoin, and not panic when something happen it will always be valuable. therefore remained calm dude 
Topic: If one day BTC cannot be traded for cash, what will you do? - page 8. (Read 6352 times)
Everything in this world has its value, has its own scarcity, and people can trade money to literally anything. How would you get Bitcoin in the first place if you can't buy it? Then, it will be mandatory to mine it unless someone would do a trade with you. Bitcoin trade into something else or even sell it for money. Bitcoin can always be traded for cash, this idea of OP is basically impossible to happen.
Impossible is a very strong word, I would rather say it is plausible. ^smile^ Bitcoin can very easily be banned in most countries and it has already been banned in some. Why would you want to use a currency, if you cannot trade and exchange it freely? Some of these countries have very harsh penalties for people who are caught using it. ^hmmmm^
Everything in this world has its value, has its own scarcity, and people can trade money to literally anything. How would you get Bitcoin in the first place if you can't buy it? Then, it will be mandatory to mine it unless someone would do a trade with you. Bitcoin trade into something else or even sell it for money. Bitcoin can always be traded for cash, this idea of OP is basically impossible to happen.
if BTC cannot be traded for cash for sure some people maybe already not hold bitcoin anymore because rumor will spread first and we all know people always trust rumor so they will sell their coins first before the time has come
I will spend all my bitcoins on Purse.io.
Don't worry, most of the other ways are here to back your money. But one thing break my heart and thats about Bitcoins. Actually i never want to see the bitcoin going down or die.
About OP, than i will do other trading and i will continue my way of trading and make profit.
There are only two ways this could possibly happen:
Either way, that doesn't change that bitcoin is a currency all to itself. so worst case scenario, it merely becomes a black market currency and becomes something that almost has to be used as such, as a medium to trade goods for goods of disproportionate values. It would still act like money, just completely and totally separate from government approved methods of spending.
- A. bitcoin was completely outlawed in the country so trading it for cash is illegal.
- B. fiat cash died and there is no more to trade bitcoin to.
Either way, that doesn't change that bitcoin is a currency all to itself. so worst case scenario, it merely becomes a black market currency and becomes something that almost has to be used as such, as a medium to trade goods for goods of disproportionate values. It would still act like money, just completely and totally separate from government approved methods of spending.
If that time comes, I would surely spend all of my remaining btc into steam wallet credits and buy everything I can buy with all those and afterwards, sell the items or games to different people so that I can recoup my investment into cash. Many people are buying things and games in steam from different people, might as well take advantage of that if I cannot trade btc directly to cash.
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.
Just use a currency exchange website and convert to PerfectMoney or WMZ.
The big issue is if bitcoin cant be traded against fiat, most merchants as companies will remove it almost instant, even if we moove into another altcoin, maybe market can moove to another altcoin, but imagine that all crypto no longer has those feature to be exchanged into fiat again, all altcoins will die, markets and transactions would be over as miners turning off their hash.
I will just store my coins. This is what I'm thinking also. If bitcoin can't be converted into cash, even merchants will stop accepting it because they have nothing to do with it anymore. As of this time, not majority of people are using bitcoin or even have an idea of what is it. In this situation, I think survival will be just possible if bitcoin is already used worldwide and can be used even in physical stores. It can just circulate that way and will still have value.
i would just sell it all and that would be it, i think most of the people would do that
I don't think so all of the purse.io will running smoothly like this time the BTC is not have a value in real life and in the digital world also, everyone is giving appreciate for bitcoin because they're can trade for a cash. and every store can accept bitcoin because it's related to a real cash.
Well, many investment opportunities out there, like Forex and HYIP accepts Bitcoins.
it is sad to see a Hero Member call HYIPs as an investment opportunity for bitcoin!
What do you think those companies do with the bitcoin they get? Do you think they store them? Sure a part of those should be stored, since now you can pay almost all services online with bitcoin, host, domain ,security, but remove fiat exchange and you will see the bitcoin market services disappear instant. Bitcoin has value in fiat, and several companies, merchants just work with bitcoin because then can exchange it to fiat, taking their profit, dont be blind bitcoin needs more fiat then the reverse.
it doesn't matter what those merchants do with their bitcoin as long as they accept bitcoin, it gives bitcoin real value and it helps with the adoption which is important more than anything else.
i would just buy some stuff for it
You may know that when new members come to join bitcoin they first want to know that is it possible to convert bitcoin to fiat, and when we say yes then they start to adopt it and when we do not point them any place for exchange then they do not join it, so in that case new users will not come.
Well I don’t that would happen because if bitcoin couldn’t be converted to cash, it would mean that bitcoin wouldn’t have any real value then and what’s the point of all of that.
However, anything could happen so I think I would give up on bitcoin, let go of it and start all over again with something new. That would be disaster not only for me because what I’ve done for many years suddenly has no meaning but also other people when they’ve invested so much in bitcoin so I hope we don’t have to face it.
However, anything could happen so I think I would give up on bitcoin, let go of it and start all over again with something new. That would be disaster not only for me because what I’ve done for many years suddenly has no meaning but also other people when they’ve invested so much in bitcoin so I hope we don’t have to face it.
If that day happen, I will buy real merchandise probably games and hardware and then putting up my own store and sell all of them. That is a very plausible way on converting yourbtc to real money. And yeah change my BTC to ETH and than converting it to FIAT.
If it can not be directly traded for cash then i will use them to deposit in my neteller account and then cash with them and if even that is not possible then i would spend them on doing online shopping and mobile recharges and pay for other services which i can do with bitcoins.
I think the op wants to say that if one day vertual currency cannot be traded for cash, what will you do? Well in this case i will use them as a play cards.we never know what makes a paper worth actully? Government,banks or us? If we belive that is a koney so we will accept it as a payment no matter anyone else accepts it or not
I will spend all my bitcoins on Purse.io.
As if they'd allow that. If it can't be converted to cash then it's back to zero value. IMO as for me I'd just keep it in a ledger wallet and hope for the best.
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