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Author Topic: If one day BTC cannot be traded for cash, what will you do?  (Read 6020 times)
useless4
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September 05, 2016, 01:08:40 PM
 #201

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

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September 05, 2016, 01:12:44 PM
 #202

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.

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springgers
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September 05, 2016, 04:41:18 PM
 #203

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.
Monnt
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September 05, 2016, 07:33:27 PM
 #204

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.
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 Wink
wxa7115
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September 06, 2016, 10:38:48 PM
 #205

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.
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 Wink

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.

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richardsNY
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September 06, 2016, 11:14:06 PM
 #206

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.

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.

bitlancr
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September 07, 2016, 01:49:38 PM
 #207

I will spend all my bitcoins on Purse.io.

 Cheesy  Cheesy
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.
universe_
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September 07, 2016, 06:53:44 PM
 #208

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.
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

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