What if everyone withdrew their coin in fiat? - page 13.

cryptoalfs76

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Quote from: steve0nz on October 09, 2017, 02:34:18 AM

Would there be enough money in the exchanges? Would bitcoin fail?

if someone bitcoiners will withdrawn there bitcoin and turn into fiat money the crypto market will not be empty because there are some new investor join and turn there local currency into a bitcoin.the new investor will attract because of the biggest value of the bitcoin.we know that the statistic fundamental of bitcoin will pump & dump, if they found out that the value of its bitcoin became higher ,they will attract and invest more and more digital currency, the old investor turn back there money to btc.the scenario are always disame vice versa, there are investor out and more investor going in because they know they have a future in bitcoin.

dmamigo

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Bitcoin being totally withdrawn to local fiats would usually not take place, as the crypto market is thriving and Bitcoin is the primary currency of crypto world. Also the growing value will surely attract new users and they will probably buy, and the old users few of them might sell, but this cycle is going to continue and technically Bitcoin won't be completely withdrawn to fiats.

mrbnson

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Quote from: seekoin on October 13, 2017, 02:47:54 PM

Crypto market is now more than 180 billions of dollar. So, I would think your fears will never happen.

There are countries with banking sectors bigger than that yet they have had runs on their currencies, it is perfectly feasible and highly likely if proper regulation is not implemented to stop such an event from happening one day.

PancherBitCoin

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Quote from: germa66 on October 13, 2017, 01:36:37 PM

Quote from: steve0nz on October 09, 2017, 02:34:18 AM

Would there be enough money in the exchanges? Would bitcoin fail?

if everyone sells their bitcoin and turns it into fiat then I think the bitcoin price will also wasted, and it will probably be the lowest price in some time, and vice versa if everyone starts buying bitcoin then the price will keep rising until month.

To be honest, for today I do not know what to expect from pricing in the crypto currency. Indeed, virtually all of my funds have been invested and I expect a good profit already today, as Bitcoin has again raised its maximum rating. As far as this will go on, no one can predict.

BillyBobZorton

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Quote from: mocacinno on October 09, 2017, 02:37:19 AM

Quote from: steve0nz on October 09, 2017, 02:34:18 AM

Would there be enough money in the exchanges? Would bitcoin fail?

If EVERYBODY wanted to dump all their BTC, the price would go to ~$0/BTC... So yes, in this case there would be enough FIAT on the exchanges.
It's all supply and demand. If the supply is huge and the demand is 0, the price goes trough the floor.

It's not clear to time if exchanges would have enough liquidity to meet the demands of such an insane sell off. I mean it's not even realistic. We are looking at a $94,323,939,141 marketcap as of right now. Are you saying bitcoin exchanges would have that liquidity ready? I don't think so, they would probably be facing bankruptcy. If bitcoin goes to $0, their whole business is a failure because they bet on something that failed.

Luckily for us there is no need to worry about that, that will never happen.

seekoin

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Crypto market is now more than 180 billions of dollar. So, I would think your fears will never happen.

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Quote from: steve0nz on October 09, 2017, 02:34:18 AM

Would there be enough money in the exchanges? Would bitcoin fail?

if everyone sells their bitcoin and turns it into fiat then I think the bitcoin price will also wasted, and it will probably be the lowest price in some time, and vice versa if everyone starts buying bitcoin then the price will keep rising until month.

ReLieD

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Quote from: steve0nz on October 09, 2017, 02:34:18 AM

Would there be enough money in the exchanges? Would bitcoin fail?

Dude , what happens to something if it's not in demand? It dies !
If no-one is interested in Bitcoin then obviously the prices will drop down to 0. You should understand this yourself , like forget about Bitcoin take the example of any product or anything. If people don't like it , they don't use it .

albert11

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Of course the value will be zero. Because the price falls if all holders sell. Similarly with the rise of bitcoins prices. This is because many people buy bitcoins. But we know that this will not happen so nothing can stop the future of bitcoins because it will reign and overwhelm the fiat money

pitiflin

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Quote from: steve0nz on October 09, 2017, 02:34:18 AM

Would there be enough money in the exchanges? Would bitcoin fail?

Such a lame thing ain't going to happen bro. Because the crypto community knows what the potential of cryptos is and why would they sell it before they get their return? Even in real life people don't sell stocks like that, some one or the other is available to purchase and sell. Bitcoin can crash because of any possible valid reason but it can soon recover so you don't have to worry much about it.

Almat

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Quote from: ?? on ??

No one knows how much money all exchanges have together. But if you want to get rid of your coins quickly you don't necessarily need to sell them at exchanges, but can also buy products in the internet and then sell the products for money if the exchanges you use wouldn't have enough money on hand for all sellers.

Yeah, but OP is talking about a theoretical scenario. This will never happen.

If everyone let go of their Bitcoins, then its value would obviously be zero. How much would something no one wants sell for?

gabmen

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Obviously yes. Bitcoin thrives on the volatility caused by demand and supply so if one gets compromised, then eventually there will be a loss of balance which will make btc price plummet to oblivion. Though happily i don't think that's going to ever happen

ssgtatn

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Quote from: UCHCHILD on October 10, 2017, 11:01:59 AM

The price not reach $0 you know why guys? It is because there were lost wallet out there that really cost too much and with lots of btc on it. And there lots more lost coin out there, so there will be no reason to turn this thousands of dollars into zero balance. And also people will not let bitcoin fail, so.exchange will never be worry about that because big investors will really hold their coins for long, How I wish I can be one of them, rich man with btc in my wallet. So I will.not let btc value fall so down.

This is a very good point, bro. You get my support!

Darker45

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Quote from: steve0nz on October 09, 2017, 02:34:18 AM

Would there be enough money in the exchanges? Would bitcoin fail?

I am not sure. But if all bitcoins will be dumped, it will not be on a single dumping act only because they are not owned by a single person. Meaning to say, those that dumped their bitcoins late will only get cents or even nothing. So the exchanges will not be needing much money for all the bitcoins. If there is only selling and not one single buying, I guess it is only a matter of minutes or even seconds before bitcoin's value will turn to zero.

Dontme

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Quote from: steve0nz on October 09, 2017, 02:34:18 AM

Would there be enough money in the exchanges? Would bitcoin fail?

If that will happen I think there will a huge bugs and huge delays. But then I don't think that bitcoin fail because of that bitcoin has enough supply to get paid all of that. If everyone withdraws there are only some bugs and delays bu everything seems fine. I know that they are make sure about this since bitcoin now are getting higher each day I think bitcoin will never fails us.

nelsmining

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That's not even a possibility. There may be a run but it will correct over time, Its here to stay

Qunenin

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Quote from: steve0nz on October 09, 2017, 02:34:18 AM

Would there be enough money in the exchanges? Would bitcoin fail?

There is no chance that the value of bitcoin will just turn to zero because there were lots of lost money bitcoin around even a freeze btc under cold wallet so even people will going to make turn to btc still it has its value then no matter what happen. Just stay focus and keep on see the volume in coinmarketcap and you will be seeing daily volume rise for bitcoins.

sandos

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If you mean if everybody sell all their coin. That will be the nightmare for people who join crypto world

Eternad

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Quote from: StarofBTC on October 11, 2017, 12:16:33 PM

Quote from: TagaMungkahi on October 09, 2017, 03:41:39 AM

Quote from: steve0nz on October 09, 2017, 02:34:18 AM

Would there be enough money in the exchanges? Would bitcoin fail?

Not necessarily fail, Let's assume that this will happen, There will be fall at price but surely it will not result into a failure, bitcoin still there and will be there always.

It can only fail if everyone wants to pull out their funds into fiat, which is practically not possible and in that case, it may just end up in one or few person's wallet apparently, since it will definitely have to exchange hands anyway just like any other currency.

However, this cannot be possible at this stage and there will always be people willing to purchase even at a lower price unless of course something negatively huge even beyond bitcoin happens to cause the scenario the OP has painted which seems impossible.

People especially those who believe in btc may not convert their coins yet into fiat, as we see we do beloeve in coins long term holding that will help us to earn more as time passed by.

BlueStackz

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Quote from: StarofBTC on October 11, 2017, 12:16:33 PM

Quote from: TagaMungkahi on October 09, 2017, 03:41:39 AM

Quote from: steve0nz on October 09, 2017, 02:34:18 AM

Would there be enough money in the exchanges? Would bitcoin fail?

Not necessarily fail, Let's assume that this will happen, There will be fall at price but surely it will not result into a failure, bitcoin still there and will be there always.

It can only fail if everyone wants to pull out their funds into fiat, which is practically not possible and in that case, it may just end up in one or few person's wallet apparently, since it will definitely have to exchange hands anyway just like any other currency.

However, this cannot be possible at this stage and there will always be people willing to purchase even at a lower price unless of course something negatively huge even beyond bitcoin happens to cause the scenario the OP has painted which seems impossible.

Nobody will ever to do so because bitcoin is giving them all the facilitation and profit and unfortunately if this will happen bitcoin will lower down its prices as it was started, and that must be the black day and people will not do this because they know their benefits in good way and investors will not let down the price of bitcoin because it is the money giving thing.

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