What will happen if bitcoin to fiat exchanges are banned ? - page 2.

shoreno

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Quote from: sareineella456 on June 20, 2018, 08:38:17 AM

I doubt that will happen, if it does then I expect the Bitcoin price would drop though.

that is not possible to happen because bitcoin is verry useful to be banned for whatever reasons. but let say if that happened , the price of bitcoin could not increase anymore and rather it can become stable or stuck on its current value because people cant just posibly cash in and cash out if exchanges werent available

. all of the bitcoins will become useless. but that is just an imagination because as what ive said ealier banning of btc to fiat exchanges are nearly imposible.

Eros1on

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It's no longer possible, BTC has been trading in this market for almost a decade, there are more and more exchanges, so BTC is part of the financial market and that's the trend.

sareineella456

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I doubt that will happen, if it does then I expect the Bitcoin price would drop though.

vik254

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Quote from: shaw1 on June 18, 2018, 07:12:12 PM

Far too difficult to do such a thing, methinks.

And let's say it did happen.
The answer is simple. Use a different exchange, that allows you to cash out, rubles, say, (Just an example) and then convert those to dollars on a more conventional exchange.

Think about virwox. Basically the oldest "safe" way to convert BTC to paypal.
You aren't buying dollars with bitcoin. You buy linden dollars. So you don't have to worry about the legal implications of fiat purchases.

It doesn't matter how hard a government squeezes.
There will always be loopholes, and crypto has an important role to play, yet.
So people will exploit those loopholes, and trade their way to fiat, somehow.

I think at this moment bitcoin and other cryptos are unstoppable. they may be slowed down by regulations but people will find other channels to acquire the coins. the use of localbitcoin is a good example

vonnyaries

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i think when bitcoin has the fans, and there are more demand than stock in bitcoin i think the price of bitcoin will increase more and more, we dont think about the exchnages or anything else because we can make a transaction directly, so if the bitcoin exchanger banned i think its not a big problem

Cofee.BLUE

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I think that's not a good idea. That is making a bad effects to bitcoin more or less maybe this will be the reasons of bitcoin doing down. For sure it will effects the adaptation and legalization volume of this system. It possibly a huge of people are going to hesitate to involved into it because they possibly think that involving to this system is already useless.

VitKoyn

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Quote from: Malithcrypto1996 on June 18, 2018, 06:47:06 PM

Lets assume that starting in USA all bitcoin to fiat exchanges are banned. Will people be still interested in Bitcoins? I believe the applications of the blockchain are many, however, most people are attracted to Bitcoins because of its fiat value (or USD value). Deep under I believe that people are really not interested in the use of bitcoins in a decentralized platform/application but more interested in converting Bitcoins in to USD. Fiat currencies still seems to be the norm. Any ideas ??

If Bitcoin to fiat exchanges will be banned in a country of course some people will lose their interest on investing on it because it will be hard to trade it for fiat and if caught selling or buying you might get jailed. However, selling Bitcoin is not limited to a country so you can still sell it in other places that allows selling of cryptocurrencies. I also think that way, people are not really interested on using Bitcoin for paying something, most people just want to invest in Bitcoin because of the huge profit that it can possibly return to them. But we can't blame them because it is hard to find any use cases yet, and mass adoption is not yet achieved.

samputin

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Quote from: treatWy on June 20, 2018, 12:14:51 AM

Once it will happen I absolutely say there's no point to join crypto land for there's no meaningful chance to use your profit from hard work.

Once it will happen then maybe we are not in the time of crypto to fiat but crypto to crypto system is implemented.

Yes that's true, cryptocurrency become like a dead people, it is non-sense to earn and waste our time for nothing. The only thing to use our hardship from cryptocurrency is to trade in fiat, and if this will ban? nothing will use and join in the crypto world. In the first place cryptocurrency become great and popular because of people who want to invest to earn profit, indeed our money will lose if cryptocurrency to fiat exchanges will ban.

dothebeats

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We're far from being place into such a situation given that the governments would surely benefit from allowing cryptocurrency exchanges in their own soil. Number one would be the taxes and number two, they will at least know a place wherein people might be hiding their wealth. So, assume that all countries ban exchanges altogether and the only thing left is P2P trades which will be very difficult. I think that will spark the creation of a decentralized P2P exchange in which the governments would have no authority at given that no central body really runs the operation; just a website wherein people can directly trade btc to fiat without a hitch. Generally this could work, though at large-scale trading, methinks that this will probably not be viable in the long run.

FiveReels

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Quote from: Malithcrypto1996 on June 18, 2018, 06:47:06 PM

Lets assume that starting in USA all bitcoin to fiat exchanges are banned. Will people be still interested in Bitcoins? I believe the applications of the blockchain are many, however, most people are attracted to Bitcoins because of its fiat value (or USD value). Deep under I believe that people are really not interested in the use of bitcoins in a decentralized platform/application but more interested in converting Bitcoins in to USD. Fiat currencies still seems to be the norm. Any ideas ??

Big trouble to the investor if this thing may happen, We already used to do it day by day, bitcoin is already part of our life, Anything happens with banning crypto's are directly affected to its value, Most of us indulge to bitcoin just for money, This is not good to people who relied on crypto's, More people may lose their job online. More people will become unemployed.

00DKM@

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Quote from: Malithcrypto1996 on June 18, 2018, 06:47:06 PM

Lets assume that starting in USA all bitcoin to fiat exchanges are banned. Will people be still interested in Bitcoins?

The United States is also a country with prevalence and use of common bitcoin. But that is a more pessimistic hypothesis. If that happens, and bitcoin and crypto will be severely affected. Because the market is vulnerable to any impact and external factors. I think bitcoin is still used by many other thriving countries and they will continue to support the blockchain revolution in the contemporary economy for its efficiency and convenience.

batang_bitcoin

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Quote from: Malithcrypto1996 on June 18, 2018, 06:47:06 PM

Lets assume that starting in USA all bitcoin to fiat exchanges are banned. Will people be still interested in Bitcoins?

Bitcoiners are not only found in USA or people from US will still find a way so they can still join the market and do trading.

Quote from: Malithcrypto1996 on June 18, 2018, 06:47:06 PM

I believe the applications of the blockchain are many, however, most people are attracted to Bitcoins because of its fiat value (or USD value).

Companies are attract to blockchain and there's another news that George Friedman said: Blockchain Will Be “Obsolete”.

Quote from: Malithcrypto1996 on June 18, 2018, 06:47:06 PM

Deep under I believe that people are really not interested in the use of bitcoins in a decentralized platform/application but more interested in converting Bitcoins in to USD. Fiat currencies still seems to be the norm. Any ideas ??

This is your opinion and you are generalizing people to have that thinking which we are not sure of.

goldade

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Quote from: Malithcrypto1996 on June 18, 2018, 06:47:06 PM

Lets assume that starting in USA all bitcoin to fiat exchanges are banned. Will people be still interebitcoin Bitcoins? I believe the applications of the blockchain are many, however, most people are attracted to Bitcoins because of its fiat value (or USD value). Deep under I believe that people are really not interested in the use of bitcoins in a decentralized platform/application but more interested in converting Bitcoins in to USD. Fiat currencies still seems to be the norm. Any ideas ??

I do think this is possible to happen. But if it did happened, there will be a lot of losses. This is because so many investors who are interested in converting bitcoins into fiat to make money will lose interest and find alternative means. This will drastically reduce the price of bitcoin and will eventually frustrate those that are interested in using bitcoin as a decentralized platform.
However, I believe that if this should happen, there will another way to convert bitcoins to fiat, probably not using USD as the middle currency and using a stronger currency.
The blockchain technology is improving day by day and it will surely find a solution to it.

nesty

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Quote from: Malithcrypto1996 on June 18, 2018, 06:47:06 PM

Lets assume that starting in USA all bitcoin to fiat exchanges are banned. Will people be still interested in Bitcoins? I believe the applications of the blockchain are many, however, most people are attracted to Bitcoins because of its fiat value (or USD value). Deep under I believe that people are really not interested in the use of bitcoins in a decentralized platform/application but more interested in converting Bitcoins in to USD. Fiat currencies still seems to be the norm. Any ideas ??

Well that is one of the scariest thing that can happen because for sure all of us wanting our coins to be converted to local cash. But before it would happen it would take a long time because right now the users of crypto currency are getting much bigger and more people now are getting aware of the crypto currency and the possible income.

Birdiebig

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If that happens, it will be meaningless with the concept of cryptocurrency that rules out the market and its benefits. Will you pay, use, spend, shop online, transfer / receive with coins that are not worth the money? And right now, the bitcoin / fiat exchange is expanding. when bitcoin is accepted for commercial Bitcoin / JPY. It will be put on the exchange soon.

kiemponxs

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if it happens then bitcoin or crypto will not be so valuable anymore, and maybe many users will leave it, but I'm sure there will be another way to exchange bitcoins into fiat currency, because nothing is impossible if we have a strong determination, and in the world crypto many smart people will find a way to exchange bitcoin into fiat currency.

wantjokull

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Quote from: Malithcrypto1996 on June 18, 2018, 06:47:06 PM

Lets assume that starting in USA all bitcoin to fiat exchanges are banned. Will people be still interested in Bitcoins? I believe the applications of the blockchain are many, however, most people are attracted to Bitcoins because of its fiat value (or USD value). Deep under I believe that people are really not interested in the use of bitcoins in a decentralized platform/application but more interested in converting Bitcoins in to USD. Fiat currencies still seems to be the norm. Any ideas ??

Well, how do you think bitcoin gets its value? It gets it when people starting during their money into it and thus it gets value against the USD as floating money around. However, exchangers wont be the only way to trade the bitcoin. People can still willingly go and buy the BTC personally like those of localbitcoin website. May be people will exchange the cash and fiat with bank to bank transfer and then they will make the exchange of BTC from crypto wallet to crypto wallet. I think that seems to me the last option. And yes people still will be interested in it.

gaurav82

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According to me it can't possible. Actually Bitcoin has some value which is determined by USD dollars. If exchange will banned. Then Bitcoin will priceless. And it will not easy for government to banned on exchange. Because Bitcoin is not doing illegal work and some countries are supporting it.

Pursuer

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nothing because bans don't happen and they extremely rare and when one out of million happens it is always regional while bitcoin is global and the result is that everyone just changes region. exchanges move their headquarters to another region, traders move on to that place or another exchange or they simply switch to more decentralized way of trading which is peer to peer instead of using an exchange.

treatWy

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Once it will happen I absolutely say there's no point to join crypto land for there's no meaningful chance to use your profit from hard work.

Once it will happen then maybe we are not in the time of crypto to fiat but crypto to crypto system is implemented.

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