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Author Topic: If one day BTC cannot be traded for cash, what will you do?  (Read 6020 times)
Mastsetad
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September 04, 2016, 03:22:33 PM
 #181

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.

Even if it does not bother you right now as you are not planning to exchange them now but if they that thing happens and bitcoins get unable to be changed into cash then all coins you are keeping will be useless as later on you cannot use them anywhere, because if bitcoin will not be exchangeable then no shops or markets would accept it as well.
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September 04, 2016, 03:25:54 PM
 #182

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.

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September 04, 2016, 03:28:30 PM
 #183

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?

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September 04, 2016, 04:58:27 PM
 #184

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.

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September 04, 2016, 06:11:21 PM
 #185

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.
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.


 
 
 
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September 04, 2016, 06:14:18 PM
 #186

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.

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September 04, 2016, 06:23:33 PM
 #187

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?

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September 04, 2016, 06:42:33 PM
 #188

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.


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September 04, 2016, 06:43:07 PM
 #189

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.
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September 04, 2016, 07:14:39 PM
 #190

I would save my btc until the value spikes, and convert it to cash.
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September 04, 2016, 07:20:28 PM
 #191

I would spend half and trade the other half into multiple alt coins Smiley
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September 04, 2016, 07:23:11 PM
 #192

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

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.
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September 04, 2016, 07:46:19 PM
 #193

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

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.

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September 04, 2016, 07:50:26 PM
 #194

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. Wink
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. Grin

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September 04, 2016, 07:54:41 PM
 #195

Well I first hope that I can pay some food or services with them, instead of credit card.
I am sure there will always be some Altcoins that are exchangable into cash, so I would change it into that available other coin.
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September 05, 2016, 07:01:35 AM
 #196

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.
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.

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Recoon
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September 05, 2016, 07:04:24 AM
 #197

Drink a glass of cold water Smiley
kryptqnick
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September 05, 2016, 07:35:26 AM
 #198

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.


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martinacar
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September 05, 2016, 07:51:05 AM
 #199

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.
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.

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 Smiley
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September 05, 2016, 07:59:50 AM
 #200

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.
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