Bitcoin Forum

I will spend all my bitcoins on Purse.io.

 :D  :D

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.

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.  ;D

Cannot be traded for cash so you mean btc has no value. If that thing happen ill just keep my btc into my wallet until good thing happen again. Thats the best thing to do.

Can you maybe explain a littel about Purse.io? it's seems to be similar to brawker (it's down btw for some time now).

What would I do? probably donate to someone or some charity and simply move on. :p

Why can't you just spend it instead?

You can spend btc at thousands of places worldwide.

Never hear this site, thanks for your ad, it is a good site to by things with bitcoin, it means that we have more useful with bitcoin, that's beneficial to bitcoin ecosystem. We don't need cash, we can buy goods with bitcoin because bitcoin is money/e-cash.

maybe instead of creating another pointless topic with a hypothetical situation that will never come true, start looking around (even online) to find places to spend your bitcoin NOW, instead of waiting forever for the moon landing.

If you cannot trade it for fiat then you mean that bitcoin has no value? For me I'll just keep it until it has a value. Just a tip, never put all your investment to bitcoin. Just look for other income so that you have alot of options.

purse.io is a service which allows you to buy products from amazon at  discounted rates using bitcoins. the official thread link is here: https://bitcointalk.org/index.php?topic=307922.0 maybe @op is talking about it. personally, i have heard many times about this site but have never tried to use it.

 lol. if bitcoin cannot be converted into fiat then obviously it will have no value in the real world usage, expect buying digital goods directly from online shops which accept btc payments, and donating something which has no value to a charity is just a waste of your time and the charity's time as well.

What does it mean what will you do op?
bitcoin can not be traded for cash means bitcoin are wothless right? have a zero value?
means even purse.io will just close the service , so do the whole bitcoin business services ,
means bitcoin already died worth nothing , we just hopeless.

well if bitcoin cant be traded for cash maybe i am going to trade bitcoin for goods, or just simply jump to another alt coin that can be change to cash, unless all of the shop already implemented bitcoin payment so i dont need fiat to buy all my need, then i will stick to use bitcoin

If ever bitcoin stops being traded for fiat, it will loose its value for sure. Bitcoin will only be viable only if we can exchange it in to a fiat currency and spend that money in to our economy.

If it stops, no other store will accept bitcoin as a payment processor because, they will not be able to use this amount to procure goods and services. Hence it will loose its entire value.

I will trade my bitcoins for gold or silver. ;D

Purse.io is a good idea as well.

I don`t think that this will happen.

You are saying that, but purse.io will also face the same problems as us when it comes to not being able to cash out our coins. They don't keep the coins but have everything converted to fiat. Basically, your move won't work.

This is hilarious... But anyway, I'll stop my journey if that happens.. Nothing is there  at the end...It's useless to collect it if it has no cash value or cannot be traded to real money, for sure many investors would stop their business from accepting bitcoin too since world will only accept money and not bitcoin anymore if that happens...

In short, we are doomed!!! Just kidding..  :D ;D

another strange topic. but funny how nobody interprets this question in the way, that fiat simply does not exist anymore. bitcoin won and everybody just pays for everything in bitcoin. since their is no fiat anymore you can not exchange bitcoin into fiat. i thought somebody would say this, with all the to the moon mentality here.

Bitcoin is cash!Digital cash!
If you can not trade Bitcoin for fiat cash anymore, to me this means that fiat has failed.
So if somebody wants my Bitcoin, he will have to pay me in goods. For instance I give you 10 BTC and you give me your property.Or I give you 2 BTC and you give me your new car.
You see I'm looking at it from a different perspective.  ;)

Then there will be no any problem to us, we can use bitcoin as other currency to buy anything we want, there are a lot of online shops as you mentioned in the OP, where we can find any thing which we will need for our daily use, we can go there and can buy that specific thing.

I am agree with you. If bitcoin cannot traded for cash it's mean I will buy something in online shop . bitcoin is digital cash anyway. No one can forbid the people to change their fiat into bitcoin or bitcoin into fiat although that is goeverment. Bitcoin is  more easily to use.

I don't think this gonna happen in near future as i have just exchanged some of my bitcoin to local cash in person to person deal. But if there will be no one intrested in exchanging bitcoin for cash, we can still use those bitcoin anywhere using bitcoin credit cards.

I will also do the same , as we know that purse.io is a place to buy online with bitcoin then I think after that we will not need to convert our money into fiat, I will buy things from there or any other shopping site where bitcoin is accepted, and if I would need to buy anything which will not be available with bitcoin and for that I will have to go to my local market and have to pay with fiat, then there is also a solution with me, I will buy some goods from online store with bitcoin and when I will get it I will sell that goods for fiat and will use that fiat to buy the thing which I will need.

Haha, it is not a good thing to do. I would prefer to save the bitcoin than spend all bitcoin owned > because I saw that it was just a temporary displacement and will return as before. Bitcoin will always sell, although in the future there is a much better competitor of bitcoin

well, this will never happen because everything is being traded against fiat and gets their value that way; of course that is unless bitcoin itself has value. and as long as that is true, there is no reason why you can not trade it with fiat.

also why aren't you using purse.io or any other similar service for spending your coins right now?

Do you mean "If one day BTC cannot be traded for cash, what will you do?" - Because it is illegal, there is no one to buy, or other reasons like algorithm is broken?

Obviously if BTC for some reason becomes illegal in the country reside, then will you have to respect the national legislation, that is a no brainier.
No one to buy: that is very unlikely, as long as the network is running then will there be BTC trading, if it gets so unappreciated that BTC will not trade on
any exchange then will there with out doubt be some 2nd market trading.
If the algorithm is broken, then are will there without doubt be a fork very fast.

Last aspect is the large amount of physical BTC out there, there is a significant amount of BTC tied up to physicals.
These are in principal un affected by the status of the network. This can always (and will always) be traded for cash.
Since they are historical objects.

Just because it cannot be traded for cash doesn't mean it also can't be traded for the other thing right? Then I'll actually act normally because I honestly rarely withdraw my Bitcoin to cash.

If one day bitcoin cannot be traded for cash, i will stop using bitcoin. Because the only reason i use bitcoin because i can exchange the bitcoin into cash and i have job with bitcoin too.

I will buy good from newegg or dark market.   ;D

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.

Well, many investment opportunities out there, like Forex and HYIP accepts Bitcoins.
Also, many online merchants accepts bitcoins as well.
There are many other opportunities to spend BTC online as casinos, games etc.
So, I really don't worry about it.

Nothing... If it cannot be traded to cash, it will be useless..  But I might still keep it since I earn it... But if someone is interested to buy it I will sell it to them and I'll just stop collecting since I can't use it anymore... But if it cannot be traded to cash and I could still use it to purchase, I think I will continue... as long as it has a "value"...

I think bitcoin will always worthwhile, and while the bitcoin bitcoin has a price can be exchanged for a fiat currency or cash. so if bitcoin is still alive I'm sure you can still do it

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 is sad to see a Hero Member call HYIPs as an investment opportunity for bitcoin!


yeah, and this is exactly the thing that gives bitcoin its real value. and the rest is on the speculators and those traders that change the price up and down so much.


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.

it depends whether it is only in my country, or globally. if the first, then i can do it from germany or belgium since i have enough family members there. if it's globally, then i'll do it peer to peer. very simple.

A member here once shared the methology to game the HYIP system. I saw it when I first joined the forums. Don't know if I can still find that discussion. Basically it is about getting the maximum gain using the minimum allowable time to make this gain. But its high risk, high reward.

Well, let's hope the reason for that would be because Bitcoin became the global currency and fiat currencies all converted to Bitcoin. We also hope

the developers got their act together and we sorted out all the scaling issues. By then 1 Bitcoin will be worth roughly $100 000 000 each and we will

all be financially secured for the future... We can only wish!

Since bitcoin cannot be convert into cash, i will spend online bazzare which accepting bitcoin as a payment. I think my hardwork will pay off somehow. I dont know what can i do for bitcoin without that function. I think it will be senseless of having bitcoin if that happens.

Youhave already answered the question, everyone will start to buy from online shoping sites, but still there are a lot of people who are using bitcoin and do not know that about to shop online and only know that bitcoin can be exchanged and can be used for gambling, ( as everywhere on this forum everyone has banner for that sites no one have a banner for a shopping site) they will think to go away from there, which will be sad.

I think OP means that what will happen once physical cash is banned so everything is digital... because when that happens, it will be impossible to convert to cash since cash will not exist.

If bitcoin can not be traded into cash you will not use it or spend it but you can be still holding it for a long time and wait again that bitcoin will be accept to trade again in fiat or cash..  but i think it will not happen because bitcoin have a good future..

i would also most probably just use it for shopping because in my opinion thats the best you can do then, though it will never happen

If that will happen incase i will stop bitcoins and wait until it gets back to be traded but if not there's nothing to do with it ,what will be the purpose of BTC if cannot be traded right?so the best thing to do is to stop and not waste time.

If only Bitcon cannot be traded into cash, while the other altcoin is still exist. I will proceed in the different exchange platform to buy some of the altoin where I can trade it and encash it into a real money. In this way only I can encash what I invested into bitcoin.

Yeah this is one of the good idea like ethereum that you can sell them for cash.. but i think it will not happen for bitcoin because bitcoin is already use buy many sites right now and also many company are using it so its impossible that you can not exchange bitcoin in  cash..

i think bitcoin will not come to zero even then, because bitcoin itself is a currency and it can be use for buying things directly. although it will be effected because in most of the areas people cannot us it for shopping as they have no facilities available there, but hope that very soon bitcoin can be use directly for shopping in all parts of the world.

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

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.

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.

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.

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.

i would just buy some stuff for it

You dont get me the most casinos and merchants accepts bitcoin because they can exchange it to fiat, soo be sure if fiat exchange stops those places will close doors, what the point to have bitcoin if you cant do nothing with them on the online and the real world?

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.

i would just sell it all and that would be it, i think most of the people would do that

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.

Just use a currency exchange website and convert to PerfectMoney or WMZ.

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. ;D

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.

There are only two ways this could possibly happen:

• 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.

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.

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

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^

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

Are you sure they will still be accepting bitcoin once it cannot be turned to cash? If I am the ownet of purse I will also stop accepting it. What will he do with it? There is a value but cannot be used? How will I feed myself with a bitcoin that cannot buy anything.

That will happen eventually, when people realize fiat is obsolete and dump the dollar. When that happens we'll just stop using fiat altogether, and stick to Bitcoin for making purchases.

How do you think purse.io pays amazon? By Bitcoins ? Common sense,mate.That will never happen,if people can't buy bitcoins with cash,how are they suppose to buy it ?Bitcoin has the value in the market because of its demand as a valuable asset in the economy.The day BTC cannot be traded for cash is the end of bitcoins.Maybe if the cash system is completely dropped and only crypto governs the economy ,bitcoins will hold its value.But wait,how would you know how much worth are the bitcoins without associating them with cash ?

More likely altcoin will be worhtless too, anyway there is no other way but to move on. And wait till someone push bitcoin value again and convert it to cash.  As for me, what should I do? No exchange, no merchant, so there is nothing left for me to do but hold it in my stash :D  This is the literal long term holding  to the infinite lol.

Bitcoin may or may not be the future of economics, but Cryptocurrencies definitely are.

if bitcoin cannot traded for cash then spend it on some sites like games etc. or convert it to the different coin ,as crypto currencies there is always future. i believe there will be many site offers different services for bitcoins ,converting to different crypto currency may work  i believe.:).

There are already many stores,shops,sites that accept bitcoin as payment so if I wanted to buy something that I need then I can just go to those shops. If I can't buy something that I need and I need to convert it to fiat then I can just ask others if there is something that they need on those shops or sites and I will buy it then I will sell it to the one who needed it in exchange for cash. In this way, my bitcoin will still be useful.

I'll be like thank god I didn't convert my life savings to Bitcoin  :D It won't be that bad though if Bitcoin is accepted everywhere anyway. I definitely wouldn't want to be left with only Bitcoins right now. If that happened today and I could no longer use my Bitcoins, I'd simply write it off as a loss and move on.

Well if Bitcoin is accepted everywhere before that happens, I wouldn't mind


But if it's only available to spend at very limited places, then i'd be gutted.

since i don't buy btc in the first place, i really wouldn't mind if bitcoin will have no use anymore as we can't convert it to fiat. i will just give my time to other things and try to be more productive as i can be with my life

I think their wont be much difference in the market if BTC is not traded for one day, if it continues for 2 or more days then the panic will start in the bitcoin world and we can see the selling pressure as soon as the BTC trading starts in the exchanges.

I think if bitcoin could not be in exchange for cash of course bitcoin will no longer valuable. and if bitcoin has no value, then you will not be able to spend bitcoin anywhere? because bitcoin no longer have a price? I think it will not happen while users continue to use bitcoin

i would also spend my bitcoins on some digital goods in order to benefit as much as possible from it, i think that would be the best decision

bitcoin as the most popular cryptocurrency currently and if that really happening then this is could be end of the cryptocurrency world because all bitcoin and altcoins exchanges will be closed it mean nobody can using bitcoin any longer and i think nothing we can do beside look bitcoin balance in our wallet without traded for cash

I think there would still be some sort of background market that will hold the value for bitcoins. I think bitcoin has come to this status where there is no turning back. It will always hold some sort of increasing spending value that will never go away.

it is really simple, i would just buy a lot of steam games in order not to throw away bitcoins i already have

Thread makes no sense  :-[  :-[

What in the world could make BTC untreadeable for cash? And how in that kind of scenario would it be tradeable for anything else at all? How would then anybody want to or be able to still buy them on say purse.io (so you can spend them)?

This thread makes no sense...

Is it about the market price going straight to $0? That's only possible if there's nobody that would want to pay a penny just to own a record in the oldest blockchain.
Is it about some kind of law prohibiting fiat<->crypto exchanging? Then why would anyone accept it for goods or services at all? Are we assuming 100% of all humans on the entire planet would abide by this law and no black markets would emerge?
Is it about a hypothetical technological innovation/advancement that would be strictly better than Bitcoin in every possible way and not worse in any single way - something that would obsolete Bitcoin entirely and cause all miners to turn off their machines? Even then the old BTC would still retain some value as a collectible, even though it would require significant money to pay someone to run a miner and write a block.
Is it about a technological or environmental catastrophy that would break Bitcoin beyond any possible use? Global nuclear war? Massive worldwide neverending electromagnetic storm? Invention of a way to break into any computer from a sattelite and just delete all copies of the blockchain in existence?

Or is it about a scenario where you cannot trade BTC for cash because there's no cash other than BTC - that case would be epic win.

You need to be more specific with the doom and gloom visions so we can discuss reasonable outcomes or rather convince you it's just impossible to happen.

hen I will not have any problem, as I can easily use it for my shopping on online stores, showpal is also a good place to shop from online store and with that I also can do trade to the altcoins and can sell that coins.

I have 3,000 hungarian forints in my wallet, right now. That's cash but I'm quite far from Hungary right now, and there's no place where I could exchange them to the local currency. So they're basically worthless, but as I'm planning to go back to Hungary in a few months, I'll keep them preciously. Same thing could happen to BTC. It could be worthless among the majority, but a minority will keep on believing in it, so it'll keep some value elsewhere, among other people.

if this would ever happen. there won't be purse.io then. because if there is no one wants to pay cash for bitcoin then this site won't find any people to buy your good

The single most important improvement of bitcoin would be using it as a medium of exchange. I've been supporting sales with bitcoin and I myself have bought many goods like online games and hosting services with my bitcoins. However, each time I spend my btc buying something I get the feeling that it would rise and I'll be unable to make profit. Stability, with it deserved price (values same as the dollar's marketcap worldwide), is the position we must somehow enter. So we can use btc as cash.

Source of your thinking is still deeply rooted in the FIAT establishment. We don't need to convert everything to dollar, euro, peso.
In the end our goal is eliminate FIAT from the equation, Bitcoin is all we need. We re aiming for total BTC adoption, don't we?

Bitcoin is certainly more valuable through its additional features than standard FIATs.

i would exchange with other coins and the turn it into cash. if that would be possible

I think when bitcoin can not exchange back into cash. maybe it was the end of his own bitcoin. maybe it will happen in a few more decades
yeah I'm sure bitcoin has late age. but for the time being in the heyday bitcoin. and during that time also I believe bitcoin can be in exchange for fiat?

If BTC was to no longer be traded for cash, chances are i would either exchange it to something else that can be exchanged for cash (e.i. another altcoin or something) or I would go and buy whatever i can with the Bitcoin that I have, and get some good that can be sold at a later date, even if it is for a loss. At that point it would basically just be anything that I could still buy with bitcoin I would buy, and then I would see if the process could be repeated. if i could do that, then I would consider keeping up with he community, but if that process wasn't repeatable, then chances are i would stop and go on to something else.

Depends on the situation:  If exchanges went kablooey, and it really wasn't possible to get fiat for bitcoin, and it somehow wasn't possible to do deals on the currency exchange section here, I would say we're in trouble.

What I'd probably try to do is buy some precious metals on Provident or one of the other places.  Again, the situation would have to be pretty dire, and I doubt merchants would be taking bitcoin if they couldn't get fiat.  I think we'd all be fucked.

Can you clarify this? If Bitcoin cannot be traded for fiat, it means that it has no value, right? If Bitcoin has no value then how can you spend it on Purse.io? I am a little confused about that.

Anyways, to answer your question, I would probably do what everyone else seems to be doing. Store it and wait for the price to rise again. If it doesn't seem to go up for a long time, I may just switch with by investing to some other Altcoin like Ethereum.

:)

is it possible bitcoin still valuable and can be used as a payment option although bitcoin can not be in exchange for fiat? I can not think when bitcoin in exchange for fiat that means bitcoin already do not have the price a dime and you can not use bitcoin as a payment method

I understan your attempt but if bitcoin king of crypto doesnt exchange anymore to fiat i do believe all altcoins will be on the same boat, meaning they wont as well, or the price should get too big. I dont expect never bitcoin loose it support with fiat.

If bitcoin cant be traded for cash then i will exchange it to alt coin, or maybe i am just going to buy stuff with bitcoin, i will buy games and anything that is valuable, if nobody want to accept bitcoin again then, i will dump it because it has become worthless

Do you think there will be an altcoin left once butcoin fall or doesnt have a price anymore. What will ETC or ETH supporters thinks when that happen. I bet they will all be scared that they may be next in line which will lose its value.

If they made a law that you could not inhale air, what would you do, hold you breath?

I really dont want to think about that for whatever reason but if it eventually happens, I am sure there will be another way to use the bitcoin in which we are all going to go for. But its going to be a great setback...

Yeah purse.io is great. I do not keep track of how much I have spent with them, but I know I have saved so much money shopping on that site, it is an amazing experience. I literally feel like I am stealing lol. That is definitely where I would go to dump all my bitcoin if there was a sudden stop in bitcoin trading like OP imagined.

Yup, I'm also not sure that it will happen. But if that is the case then I will use the bitcoin for things online and if it cannot be done. Then I would keep all the bitcoin I have and I will capture into your way of life, to give a lesson for my children in the future

Bitcoin is not designed just to convert them into cash but trading bitcoin for things and mostly for online purpose but also for offline in the near future where we can free purchase coffee in the restaurant. What would I do If one day BTC cannot be traded for cash is spending them for digital goods, gift cards etc.

well it would be really bad then because a lot of people would be disappointed and stop using bitcoins at all as it wouldnt make them earn big money

Well a lot of people would have to stop because it wouldn't have any value to them anymore, and a lot of the traders would have to go and find a way to recoup their losses if they weren't able to bring their funds out of Bitcoin before people stopped trading. Maybe some face-to-face traders would exist afterwards, but chances are everyone would be trading at a considerably lower value.

I am sure it won't happen ever, if it govt will ban trading bitcoins for cash and other ways to exchange BTC will found like exchange to ecurrencies and then cashout.

I have never bought or sold bitcoin for cash, so this would not affect me.
And I think most of the bitcoin users have not done that as well.
Buying bitcoin usually happens by bank account,l paypal or whatever.
Besides, how should it work that bitcoin could not be sold/bought by cash?
I see no technically possible way to mak that happen (except prohibiting cash in general).

Firstly lets think why bitcoin can not  be traded for cash i mean on what cases one can be that no trader accepts it anymore but still it will have its orignal value

yeah i dont want to even thing about it too, i hope that i will always be able to trade it for cash

Definitely as in most of the country still bitcoin is not usable so they are just converting to the fiat currency and enjoying the bitcoin, but if that process is stopped then obviously it means bitcoin is dead.

Wouldn't effect me at all. I hate fiat.

If bitcoin no longer is able to be traded then the altcoins would follow the same. Altcoins are really just a replica versions of bitcoin, that is why their price is inconsistent and always dependent to bitcoin prices. I will try to use bitcoin directly if I am unable to convert it into fiat.

that would be bad for me too, i think that a lot of people wouldnt use it then and i wouldnt be able to make money with it

I secondly agree with you...btc can be spend world around...

Bitcoin is a currency itself already so there would not be that much of a problem when bitcoin can not be cashed out anymore, although it may affect it's value, since we look at bitcoin's value in cash as basis.

That could mean two things:

1.That cash no longer exist which means that governments around the world were successful on the war against cash.

2.That fiat has finally collapsed and bitcoin has won the currency war.

If it cannot be changed to cash then what purse.io will do with the bitcoins you shop from there? If it is not possible to convert them to cash then probably no shop would be accepting it as it would be useless, so spending them the way you mentioned is quite senseless i guess.

Yes you are right. That pay through bitcoin button will be gone there once they see there would be nothing to profit in it. Just an idiot would be willing to still receive it without getting anything out of it. How can he buy new stocks to sell if he cant make it a money.

If bitcoin can not be traded into cash you will not use it or spend it but you can be still holding it for a long time and wait again that bitcoin will be accept to trade again in fiat or cash..

Bitcoin will last longer than fiat. The USD for instance, only has a couple years left, I would say about thirty. The federal reserve is a Ponzi scheme and like all Ponzi schemes, it will inevitably collapse.

you are right, in my opinion the financial system with federal reserve bank is going to fall pretty soon

This will never happen as even drugs can't be sold legally but they still get do. The only result would be a fall in prices.

There won't be that day until bitcoin will be alive LD So if bitcoin dies, than I think many alt currency will be dead and cryptocurrency world will become a terrible place.

Solution in that situation is to trade with usd/euro or something similar.

PS All that depends on huge players and goverments, I think that because big people are making money with it illegally.

If that will happen i can still used it for paying my bills, shop online and many more that is because my bitcoin wallet has a great services even i can exchange it into fiat there are many other method to do in bitcoin. but i think this will never happen bitcoin always need fiat this will use in buying bitcoin or investing in bitcoin.

If bitcoin would not be traded for cash then you definitely cant use them even on online because those merchants use fiat  money to their goods and they wouldnt allow that someone would buy  with the payment of bitcoin that cant be already  converted to cash. Then its impossible for you to use them.

If BTC cannot be traded for cash for only one day then it wont be much problem , but if it is continue to not being traded in long time. then confirmly it is going to lose the confidence from the holders and invested users as most of them are using bitcoins to covert it to their fiat currency as still lot of country dont have bitcoins shops but even if their are shops if the cash trading is stopped then this shops will also surely stop accepting bitcoins.

Where we are here, in this stage, we can't say that the day will come in very hurry. Now you should spend the bitcoin easily with cool mind.
But also we never forget that no one know about future, so if suddenly we can't use bitcoin in anywhere than of course we all will be faces the loss. 

A really questionable answer. What are you thinking? They will let you transact with them if they know that it cannot be traded to fiat anymore? That is just a no brainer if I am the CEO of purse. Of course they would know the news since they are a big company that accepts it. They will close all of the transaction with bitcoin or maybe they have done it before you even know it.

i think still most of the people cannot use bitcoin for cash in their area, still they are trading it and keeping. i my self living in such an area where i have very little opportunities of spending bitcoins in my local markets, therefore i mostly use bitcoin investment. but still i am hopeful that a time will come when i will be able to use bitcoin in my local area.

I do not see altcoin can be convert into cash, all should be through bitcoin. so when it happens on bitcoin, any coin will be garbage and can not convert to cash.

I think when bitcoin worthless in a fiat may bitcoin still beraharga in other altcoin? but please think that bitcoin is the mother of all coins.
if bitcoin worthless fiat of course all of the coins is of no value? it's just my thoughts alone. because bitcoin is the mother of all coins

two options in mind if it really happens..my btc to Altcoin for cash and spend any where around the world..other  places that uses bitcoin...

What about you can use currency exchange websites where you will get paypal or similar things?
If this really were to happen I’m sure whoever would be trying to get rid of bitcoin will have taken down major bitcoin exchange websites in advance.

If i would want to earn more bitcoins, i would use bitcoins/altcoins trading to earn more, and then i would spend all of these bitcoins as their price would fall down

That would make the ones holding bitcoin rethink their situation on how they can spend their coins.
Cash is needed in this modern world there is no arguing that because unless all governments in every country starts primarily using bitcoin this is a concrete fact of life as we know it.

Yeah, it's a fairly appropriate choice once. But I think if the BTC is trusted by all the people who never use the bitcoin. It can never be done and we could only save the bitcoin as a sign of thanks or as a form of history

That would be the startnof WW3 ;D.  There would be a worldwide portest if this event will come true.  Many people will notballow this thing to happen as many people's wealth were at stake.  People invested on their money for bitcoin and also invested their time. 

Well if incase that would happen, I make sure that I will find a way to get back my money.  If there is no way then I will just keep them and who knows it will turn back.

The developers will get their act together, they are working really hard and they are making progress. We will soon have segwit with version 0.13.1, then next year, the long awaited sidechains kick in.

And like you said, once cash is removed, all the cash underground economy will move into bitcoin.

bitcoin will move more underground than it has ever been. peer 2 peer will be the desired method for buying and selling. and in that aspect, new kind of exchanges will pop up where people will still be able to buy and sell their coins. governments will only force such rules on bitcoin if it is seriously threatening their economy. that's why i like bitcoin how it is right now. an alternative currency/tool.

If it was impossible to trade Bitcoins for cash, then I would assume that it would also be impossible to buy most things with Bitcoins.
So what use does Bitcoin have, if that were the case?

This is what I thought. If there was a time where bitcoin wasn't able to be converted into cash I'd just spend what I have, probably have a great time doing so too.

i would most probably just buy some stuff for the bitcoins i own right now

While bitcoin is a great invention to me the greatest component of bitcoin is the blockchain, maybe we could put it to good use.

I will spend my bitcoin directly that day....... ;D

First tell me op what you will do if everyone in the world closed all the shops can you stay without a shop? Can something can really extint them.i do not think its possible and sso your question is.pointless to me

If bitcoin wont be available to be exchanged to fiat then it would not be usable as well because no shops would accept it as they wont be able to use them further because it is not exchangeable.

It all depends on whether or not people are willing to offer goods/services for Bitcoin.  If you can't trade for cash it won't matter as longer as people are willing to accept it as exchange.

That being said, it would likely collapse pretty quickly as businesses are in the business of making money   ;)

I will do nothing because I can't do anything.
What options would you have if you can't trade it to cash?
I can't think of a thing because that is where all the options come from.

that's right btc is a currency so there's no other way o use it if the value can't be change to fiat i'm not sure why online shop or anything that use btc will value the coin if there's no value anymore.

i think it is already not accepting for cash, so we are holding it for price increase or invest it some where else for good profit. there are so many other people who are also using bitcoin for investment.

Alright we are holding it for price increase and alright we are using it for investment but after that, what?
Of course you will need to convert it to cash to buy something in cash that bitcoin can't buy.

Yes I will buy anything that I can with bitcoin and start selling it.I can also trade it for Altcoins which can be converted to fiat

yeah i thought it was the end of bitcoin? if bitcoin not be in exchange for fiat or cash? then what is the use bitcoin?
I think bitcoin would not have if the price can not be in exchange for fiat

There are online merchant sites like overstock, wordpress, you can buy things and service in such sites. Or you can buy dangerous thing like weapon or drug on dark market. Using bitcoin is more secure.

That would become the most horrible day of everyone who have bitcoins.  I would probably cannot talk on that day if I have bitcoins since we are already thinking thr money that we have lost.  But of course it would not happen as many people would not let it to happen.

How would that happen? by the current direction and nature of the market I doubt that would happen anytime soon and *if* that happened, I doubt purse.io would be accepting bitcoins as well :P, nobody likes holding the bag anyway.

Well if that the case and if it really happens someday i think before that happen it will be on news or what so ever that theres a warning that bitcoin cannot be traded in cash soon then before that happens i will exchange my bitcoin into cash as soon as possible so that i can use it in last time or i am going to buy it all in some online store

do not do anything, because when it happened I thought nothing could be done other than bitcoin will become dust.

For example, when I save some bitcoin on the exchanger and wallet, then bitcoin cannot be traded for cash. whether bitcoin would be useful? I think it is not useful when it could not be money.

Well that could work since it already happened. But that is also the point. It happened already, how do you think people will trust again for the second time. It will be a big problem to bring it back ul without support.

If bitcoin cannot be traded for cash then thats the end of bitcoin economy. There is nothing we can do but leave bitcoin behind. Keeping a coin without value and without a use is a waste of time. If that time comes then lets shift to other coins like altcoins. there are many coins to choose from. So moving on and choosing other coins is the best choice i can make.

If a currency cannot be traded for other currencies, and then everyone is just holding their coins then that means that the currency has achieved the money velocity of zero, and that basically means is useless.

However, is really difficult for me to imagine an scenario in which this is possible, because it's impossible to seize bitcoin, because there is not a central server that holds all the coins or something like that, so while bitcoin may crash and lose a lot of value, I am unable to see a future in which bitcoin will reach a value of zero.

velocity of zero will not happen. even if the value of one bitcoin will go under $0.01 for what ever reason, there will be some trades buying in the hope to make some money.
but at this point bitcoin will be practically dead. people will still pay pay some money to buy some coins as souvenir or something.

Honestly I would buy everything I can off of Purse.io. I could stock up on household supplies and buy tons of fun toys with all the bitcoin I have saved up. I don’t think bitcoin will ever not be tradeable but I would definitely spend all of it on useless junk too.

Correct, what it may happen is the possibility of a new coin that is revolutionary and displaces bitcoin as the dominant crypto-currency.

I doubt it will effect the way that I view bitcoin because I do not exchange it into money anyways so that occurrence would not bother me in the slightest.

If you worry about this, then you surely don`t get the whole idea of bitcoin revolution and what decentralized means. At the end, we hope bitcoin won`t be exchanged for something at all. I hope this makes sense.  ;)

yeah i agree, in fact i'm using it directly to buy stuff, but not everyone can do this, and there are some thing that can not be bought without fiat, so you need to dump for that, in that case i would simply hold more fiat from my job, and keep the btc until the problem is solved

I will go to primedice and say LOUD in chat " who wants some free bitcoins " maybe there are a few people dont know that its non convertible now and hence will get happy and hence I was at least able to make someone happy :)
Though BTC is never gonna get in such situation lol :P

The thread title isn't related to Bitcoin being decentralized. Maybe it's better to put it this way; If your government forces through a total ban for Bitcoin to fiat conversions, what would you do?

Come on don't be like that, if something cannot be traded for money its useless for you ? In my house when last year my dog died due to overage I was such emotional that I stopped doing anything and everything for almost a week, while it was of NO MONEY VALUE in real life.

If that would happen then I don't think people will continue with bitcoins, as we only have one option to spend our coins by converting it to cash, and if that is stopped then it will be an end of bitcoins.

We will trade our coins for some goods, simply as that. And maybe we can expect one day some countries to forbid trading bitcoins in their currency, but also we can expect some countries to never do that, even now we have countries with low taxes, with paradise for criminals across the world.

Even if this happen, its not gonna be the end of bitcoins, we will find a way to cash out, just its not gonna be easy like its now. Pardon for some will be easy, and for others will not, its how this world works. Even now we have world where some people live much better then others. Let's hope that something like this will never happen, maybe we gonna need to fight for our freedom. Good luck to us all.

That is no big issue simply we use cash for buying goods. If that happens then buying goods directly with Bitcoin will be single option. It has a start this way too if I am not wrong as it was used for good long before being traded for cash. This is less thing to be worried about. Bitcoin has reached at stage where it can not be undone anymore.

We use cash for buying things and they are accepted because they are used again by the markets or the shops for other purposes but if bitcoin would not be able to be converted to fiat then it would obviously be useless so how markets or shop will give you things and accept bitcoins for that if they cannot use them for something else?

well it's just for 1 day that bitcoin cannot be your to be trade for cash , then i will still earn bitcoin and i will keep my bitcoin into my bitcoin wallet because some day it will can be tradable again and can use as currency so that we can start trading or investing our coins and we gonna exchange it into cash :D

the same for me, im holding my bitcoins right now in order to be able to use it in the future, right now i dont exchange it and i dont spend it

I have no doubt that a lot of people will get out of bitcoin if such a ban was put in place by a powerful government but look at the war on drugs, drugs are illegal almost everywhere on the planet and still they are widely available.

No doubt drugs are widely available but you need money to buy it and mostly you need fiat to buy it as you cannot expect that you will be able to buy it with credit cards or bitcoins.

It is better to break up with my ex-girlfriend instead of this kind of event. I am going to be more brokenhearted with bitcoin rather than with my ex.
But if this is going to happen for sure I am still going to keep on trading with bitcoin and there is no reason that bitcoin cannot be traded for cash at all.

wow mate if your  gf only knew this site and can read this post im sure she will going to do it first, hahah, but moving back bitcoin is a currency so no such things like this will happen it will never happen that we can't echange it or trade it with cash.

If it would happen someday then i would just stop earning it. What is the point of having it if it can't be traded for cash? You can also buy those items on some online stores that accepts bitcoin in a mall or any physical stores. But i don't think that would happen because what is the purpose of bitcoin if it can't be converted into cash?

I think that's exactly what people do when this happens. People will leave bitcoin for sure. If bitcoin can't be traded into cash, it will be worthless. There's no use to earn bitcoin and just waste of time.

I think that moment itself the people who act as if they die for bitcoins will vanish. I will still be using and loving bitcoins the reason is that bitcoins gave me enormous profits in past which I can never forget at all and I owe bitcoins a lot and hence even if they become 1 value I will keep using them unless I am nil.

That would lead to the end of the Bitcoin. It can't function only in Bitcoin circle and there is no global financial system that would support Bitcoin and that can function without fiat money, so for majority of people it would probably become wothless.

I will used it as a payment processor perfectly, spend them for anything i want but i trully believe that it would never happen at least for 45 years, besides that i really like that bitcoin is unconverted to cash so people can used bitcoin as a currency but the question is  will company  accepted bitcoin as one of their payment option?

If Bitcoin cannot be traded for cash, I'm sure the crypto-fiat exchange market would react badly over the price. It would turn out more to be like a gift token rather than a medium of exchange. I believe that would not really be the case since it's acceptance would expand and span over a lot of countries and among various merchants.

That day will never come. Even if they ban every online exchange out there, they can't ban people. They can't ban internet. As long as you can send and receive bitcoins, you will always be able to cash out. If they shutdown internet just to get rid of bitcoin, they will also be shutting everyone down. Relax.

I would save my btc until the value spikes, and convert it to cash.

I would spend half and trade the other half into multiple alt coins :)

I think you don't even have time to read the topic or understand the topic, how will you convert it to cash if there is no option to trade it for cash, be active in reading before you post something.

you are right, most people do not read and post instead, but in this case i think he meant to wait for his bitcoins to go up in price (which i doubt will happen since no trades are possible) and then wait for a time where it is again possible to spend or convert them, since people find a way got get cash for valued products. i does not make much sens to me though.

It would not effect me too much as I have majority of my assets still in fiat and only a little invested into bitcoin right now. So I am good. ;)
As the price increases however..... I think I will put about a quarter more into it and then sail the wave where ever that may take me. ;D

I think we have to be fair and the thing is that once bitcoins are not being converted into fiat then most of us will stop using it. The reason behind this is that we all are online to earn and earn only guys, and that we all know and have to admit how to react for such a hurdle. I pray these are not to happen.

Drink a glass of cold water :)

I will hope that it is impossible to trade bitcoin for cash for some time only. I'll just wait until it ends up. However, if at that time I have a great amount of money in bitcoin, I'll buy Amazon gift card (I hope it is possible) and use it to get anything I'll need at that time. I hope such thing will never happen to bitcoin, though.

I would do the same as you except spend it all on resellable junk so I could get some cash from it instead of buying useless junk and stockpiling my whole house.
Probably buy some high end videocards etc they easily sell :)

IF the bitcoins are not able to convert into cash i think there would be allo to fpeopel to interested into the bitcoin anymore and that is only because there are more people who wants cash instead of bitcoins.

you might be right but i think that in the future there will always be a possibility to fiat to be destroyed and bitcoin to become the big thing

I do not quite believe this will happen. bitcoin today is as a pioneer of the first digital currency. and for me the future we need the convenience and practicality. bitcoin is the answer to all of it.

I don't think that will be happening anytime soon, but if that happened, no one would be buying your bitcoins and even purse.io wouldn't accept BTC. I can't predict how bitcoin is reaching a situation where it can't be traded for USD and fiat.

That's the hypothetical part of this question, though we all know this is never gonna happen yet we all have to believe that once it becomes zero value then what we will do ? I personally will keep the bitcoins in y wallet and keep using them as they are now juts a little more free to spend though ;)

Correct and about what I’ll do with my bitcoins? I will probably keep them as a souvenir as a reminder that I was part of a revolutionary technology on its early stages and the knowledge that something like bitcoin was possible even if it was a brief moment in time.

It's very simple, if one option is not working anymore, then there is always an alternative way to get what you are looking for. It would mean that peer-to-peer trading will be even more important. Services as localbitcoins will see an explosive growth.

Then I hope that I can buy some good stuff with Bitcoin like a car or something. If that is not possible then I can do nothing with it.
But I do not think that it is ever going to happen.

of course it is not going to happen at any time in my opinion and bitcoin is going to grow only in the future and there will be more exchanges for sure