speculative investment does not need an exchange in order to happen. And this is one of the primary reasons why exchanges will not be banned.
Exchanges are the primary foothold for governments and LEAs into the world of bitcoin. They break down even the feeble anonymity Bitcoin provides in terms of customer identification.
But even without exchanges, speculative investment would continue to take place. Not to mention the presence and arrival of decentralized exchanges (Think Exscudo)
Topic: What happens to BTC if all countries shut down exchange trading like China? - page 2. (Read 800 times)
September 14, 2017, 11:59:18 AM
September 14, 2017, 11:24:32 AM
I guess no more speculative investment digital gold narrative then. Bitcoin would still be usefull in P2P transfers though - and no, you dont need to know Bitcoin dollar value from exchanges, for example with first ever trade of 10 000 Bitcoins for pizza, no Bitcoin dollar value from exchanges was ever known.
September 14, 2017, 11:07:53 AM
Even when all of the countries will shut down local trading platform, bitcoin will still be trad-able through p2p marketplace and social groups. Nobody can stop bitcoin trading and when it will be hard for people to buy bitcoin legally than price can easily shoot up because of low supply and high demand. People love things that have very low supply and hard to get.
September 14, 2017, 11:05:42 AM
Maybe to zero?
Really you don't have some insights about what will be the value?
How come we can do trades, buy, sell etc. if there is no exchanges? Person to Person? lol.
https://bisq.network/
Hmmm, let me quote something from their own FAQ:
Quote
Will my bank know I’m buying bitcoins?
There have been reports that some banks have closed client accounts when they see that there is Bitcoin activity involved.
The reference text of the bank transfer used to trade with Bisq will include only the Bisq trade ID (which is a random sequence of characters, like many other purchase IDs). Any trader that is not using the exact ID number as reference text of a bank transfer is considered in breach of contract, which will result in dispute resolution.
To avoid problems we recommend setting up a dedicated bank account for buying and selling bitcoins. If the bank were to block this account, it would cause fewer problems for you than if the bank were to block your primary account.
Never mention anything else than the trade reference in the subject field.
There have been reports that some banks have closed client accounts when they see that there is Bitcoin activity involved.
The reference text of the bank transfer used to trade with Bisq will include only the Bisq trade ID (which is a random sequence of characters, like many other purchase IDs). Any trader that is not using the exact ID number as reference text of a bank transfer is considered in breach of contract, which will result in dispute resolution.
To avoid problems we recommend setting up a dedicated bank account for buying and selling bitcoins. If the bank were to block this account, it would cause fewer problems for you than if the bank were to block your primary account.
Never mention anything else than the trade reference in the subject field.
So, basically this so called "decentralized' app runs on bank transfers.
What is easier for banks than blocking those accounts ?
Manipulating forex rate is complicating compared to this.
You're far safer using local bitcoins than this .. hell..i'm going to say it... piece of crap..
You might need more info to understand the concept before you call it bad. You sound like Jamie Dillon.
September 14, 2017, 11:02:51 AM
Maybe to zero?
Really you don't have some insights about what will be the value?
How come we can do trades, buy, sell etc. if there is no exchanges? Person to Person? lol.
https://bisq.network/
Hmmm, let me quote something from their own FAQ:
Quote
Will my bank know I’m buying bitcoins?
There have been reports that some banks have closed client accounts when they see that there is Bitcoin activity involved.
The reference text of the bank transfer used to trade with Bisq will include only the Bisq trade ID (which is a random sequence of characters, like many other purchase IDs). Any trader that is not using the exact ID number as reference text of a bank transfer is considered in breach of contract, which will result in dispute resolution.
To avoid problems we recommend setting up a dedicated bank account for buying and selling bitcoins. If the bank were to block this account, it would cause fewer problems for you than if the bank were to block your primary account.
Never mention anything else than the trade reference in the subject field.
There have been reports that some banks have closed client accounts when they see that there is Bitcoin activity involved.
The reference text of the bank transfer used to trade with Bisq will include only the Bisq trade ID (which is a random sequence of characters, like many other purchase IDs). Any trader that is not using the exact ID number as reference text of a bank transfer is considered in breach of contract, which will result in dispute resolution.
To avoid problems we recommend setting up a dedicated bank account for buying and selling bitcoins. If the bank were to block this account, it would cause fewer problems for you than if the bank were to block your primary account.
Never mention anything else than the trade reference in the subject field.
So, basically this so called "decentralized' app runs on bank transfers.
What is easier for banks than blocking those accounts ?
Manipulating forex rate is complicating compared to this.
You're far safer using local bitcoins than this .. hell..i'm going to say it... piece of crap
And checking their ways of getting fiat for your coins.
All, all of them can instantly ban you and have your account frozen.
September 14, 2017, 10:55:51 AM
Maybe to zero?
Really you don't have some insights about what will be the value?
How come we can do trades, buy, sell etc. if there is no exchanges? Person to Person? lol.
https://bisq.network/
September 14, 2017, 10:54:51 AM
Maybe to zero?
Really you don't have some insights about what will be the value?
How come we can do trades, buy, sell etc. if there is no exchanges? Person to Person? lol.
September 14, 2017, 10:47:05 AM
Predicting the future is impossible.
In reality, though, in all likelihood even an unlikely worldwide blanket ban on exchangers and trading platforms would merely cause a huge drop in anticipation of the closure (i.e. what's happening now with china, people getting out of the uncertain future, cashing out), then the "economy" would work around the problem and rebuild. There would be new ways to exchange bitcoin to real world value, and the price would eventually rise again.
Either that, or bitcoin fails completely, but that's both unlikely and unrelated to a ban of exchangers.
In reality, though, in all likelihood even an unlikely worldwide blanket ban on exchangers and trading platforms would merely cause a huge drop in anticipation of the closure (i.e. what's happening now with china, people getting out of the uncertain future, cashing out), then the "economy" would work around the problem and rebuild. There would be new ways to exchange bitcoin to real world value, and the price would eventually rise again.
Either that, or bitcoin fails completely, but that's both unlikely and unrelated to a ban of exchangers.
September 14, 2017, 10:45:22 AM
September 14, 2017, 09:22:43 AM
Maybe to zero?
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