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Author Topic: If one day BTC cannot be traded for cash, what will you do?  (Read 6021 times)
olubams
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August 30, 2016, 01:36:05 AM
 #101

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...
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August 30, 2016, 01:09:41 PM
 #102

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.
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.

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August 30, 2016, 01:12:02 PM
 #103

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...

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

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August 30, 2016, 01:22:18 PM
 #104

I will spend all my bitcoins on Purse.io.

 Cheesy  Cheesy

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.

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August 30, 2016, 03:50:49 PM
 #105

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...
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

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August 30, 2016, 04:02:33 PM
 #106

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...
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.
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August 30, 2016, 04:15:18 PM
 #107

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.
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August 30, 2016, 04:16:38 PM
 #108

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).

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August 30, 2016, 04:31:47 PM
 #109

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

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August 30, 2016, 04:36:06 PM
 #110

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

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August 30, 2016, 04:39:36 PM
 #111

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...
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.

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.

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August 31, 2016, 02:19:04 AM
 #112

Wouldn't effect me at all. I hate fiat.
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August 31, 2016, 05:50:24 AM
 #113

I will spend all my bitcoins on Purse.io.

 Cheesy  Cheesy
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.

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. Grin
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.

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August 31, 2016, 02:43:07 PM
 #114

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...
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


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August 31, 2016, 02:55:42 PM
 #115

Why can't you just spend it instead?

You can spend btc at thousands of places worldwide.

I secondly agree with you...btc can be spend world around...
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August 31, 2016, 03:07:00 PM
 #116

I will spend all my bitcoins on Purse.io.

 Cheesy  Cheesy

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.
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.

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August 31, 2016, 03:21:29 PM
 #117

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.

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August 31, 2016, 03:47:24 PM
 #118

I will spend all my bitcoins on Purse.io.

 Cheesy  Cheesy

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.

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August 31, 2016, 03:58:20 PM
 #119

I will spend all my bitcoins on Purse.io.

 Cheesy  Cheesy

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.

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August 31, 2016, 05:00:45 PM
 #120

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..
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