When Bitcoin fails - what is Plan B? - page 2.

eeaweeaws

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Quote from: pooya87 on February 04, 2016, 11:36:12 PM

this is such a hypothetical scenario!

but if bitcoin fails someday, and price falls so low to two digits, i will sell all my bitcoins that i have saved up and take the cash and never look back at bitcoin ever again.
also i might still continue my work in altcoin market, because i am currently invested in some of them and earning some small profit through that, so it is always nice to earn money through trading no matter what the price of bitcoin is.

It is your choice but i don't know how are you using altcoin and how are you earning money through altcoin. I am using only bitcoin and i hope it is better than other currency and i always love bitcoin.

n2004al

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Quote from: Muuurrrrica! on January 02, 2015, 10:20:56 PM

This thread got me think:
https://bitcointalksearch.org/topic/hypothetical-price-collapse-and-massive-farms-failure-912190

what's Plan B in case bitcoin suffers total failure?

I think that there is no need for a plan B. Reading the main post of the thread mentioned by the OP I think that cannot be any problem if the price drop at that amount and most of the farms close the doors because the mining will be not more profitable. According to me, with this massive close of doors, will come even the drop of the difficulty of mining and this will made again the mining a very profitable activity even mining with computes. Practically we will go back in time when was possible to mine and to have very good profits mining even with a laptop. It will be again the time of the "gold seekers" but this time will be the "bitcoin seekers". And I think that I personally would like to much this time if it would be possible to come again. But only with a condition. To last only the time needed to me (or even to the others who will do like me) to make some thousand bitcoins and then again the begin the normal jump of the price of bitcoin. Wink

jchst

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I think I'll go with Dogecoin, People have already given it plenty of interest. Darkcoin is interesting in a technical aspect too.

Pollak

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Pollak

Quote from: BellaBitBit on February 05, 2016, 12:36:51 AM

Plan B could be other alt coins. I certainly hope that Plan B is another similar currency. The current fiat system is not sustainable.

I would just work hard and find something else for some fun.
But I myself think that Bitcoin is much more popular and used more.

randchingo

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There is no plan B because I don't think it will happen "any issues to Plan A in cryptocurrency", There are tons of other crypto's if there is a need.

btckold24

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There is no plan B

Plan a is just not to invest so much that losing it all would be horrible.

Just like any investment make sure to diversify.

rio3233

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Actually i don't have plan B for now. Because i only know, bitcoin is only the easiest way to earn free money. and i don't have plan B like how bitcoins works. so i hope bitcoin never fail.

romero121

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I don't think there is a need for plan B when it comes to bitcoin. Bitcoin can be considered as a trusted cryptocurrency.
I feel this is not as other currencies that come into existence and won't last long time. At situation as said if it also
gonna fail, surely the authorities will have some remedies to stop it.

Pursuer

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Where is my ring of blades...

I am going to sell all of my savings before the possible doom (which I don't think can happen) and start over again with an alternative substitute like a promising altcoin.

Furio

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It is inevitable that the banks join up and create a shared blockchain, the second this happens btc will become underground and will lose a big chunk of value, but for the underground still has its uses.

jatin-221

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I dont think it will ever shutdown but if it did then i will switch to any altcoin

Kakmakr

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Quote from: BellaBitBit on February 05, 2016, 12:36:51 AM

Plan B could be other alt coins. I certainly hope that Plan B is another similar currency. The current fiat system is not sustainable.

Bitcoin is the best performing Crypto out there and the oldest. If Bitcoin fails, all the other Alt coins will suffer too. The public do not know the difference between LiteCoin or DogeCoin or Bitcoin. They will not invest their money into any other coin, if the Top performer fails.

Plan B, should be to create a disaster recovery plan to fall back on, if things turns bad. I think side chains linked to the Blockchain could spread the risk. If one chain fail, the others just take up the slack.

Do not hoard all your coins, start spending some. If it fails you would have had some benefit from it.

BellaBitBit

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Plan B could be other alt coins. I certainly hope that Plan B is another similar currency. The current fiat system is not sustainable.

pooya87

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this is such a hypothetical scenario!

but if bitcoin fails someday, and price falls so low to two digits, i will sell all my bitcoins that i have saved up and take the cash and never look back at bitcoin ever again.
also i might still continue my work in altcoin market, because i am currently invested in some of them and earning some small profit through that, so it is always nice to earn money through trading no matter what the price of bitcoin is.

hasiramasenju

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actually i do not have any plan B if bitcoin will fails and if it does happen i guess it's time to leave bitcoin and looking for a replacement

bitbaby

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If it fails, which I doubt it will, people will go back to plan A which is fiat, I don't think they'll trust another digital currency, so all the altcoin's survival depends on Bitcoin ultimately.

chokesir

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Well, let's hope it won't fail. However, if it does fail, I hope people have atleast some sort of plan B.
We can still come out on top!

sase007

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It is either:
• Restarting plan A as it was before, increasign its popularity steadily.
• Perfecting plan A correcting mistakes
• Litecoin/DOGEcoin/Altcoins
• Blockchainless coins

FandangledGizmo

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Quote from: monsanto on January 13, 2015, 01:50:12 PM

Plan B? Dollarcoin.

https://bitcointalksearch.org/topic/pre-ann-dollarcoin-earths-first-consensus-fixed-value-cryptocurrency-cfvc-702098

You can just buy BitUSD which is a decentralized stable dollar asset that is comparable to a financial instrument called a contract for difference. https://bitcointalksearch.org/topic/m.10078463

I would previously have suggested looking at NuBits too but the latest blog post by Bytemaster basically laid out that it's very risky -

Quote

a NuBit is at best an unsecured IOU from unknown issuers. It only becomes a Ponzi scheme once NuBits is forced to print new NuBits to pay interest on old NuBits. They are not currently doing this, but due to the fractional reserve, naked-shorting that I believe is being practiced it is inevitable. Even Ponzi started out with honest intentions.

Dread Pirate Roberts

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i hopes not will be like that . bitcoin will always go

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