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Author Topic: If one day BTC cannot be traded for cash, what will you do?  (Read 5761 times)
bestluck
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August 28, 2016, 03:18:42 PM
 #41

I will spend all my bitcoins on Purse.io.

 Cheesy  Cheesy

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.


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August 28, 2016, 03:20:01 PM
 #42

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.....

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.

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August 28, 2016, 03:40:57 PM
 #43

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..

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August 28, 2016, 03:48:05 PM
 #44

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
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



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Viyamore
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August 28, 2016, 05:15:00 PM
 #45

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.


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August 28, 2016, 06:16:41 PM
 #46

I will spend all my bitcoins on Purse.io.

 Cheesy  Cheesy


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.


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August 28, 2016, 06:19:51 PM
 #47

I will spend all my bitcoins on Purse.io.

 Cheesy  Cheesy


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..

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August 28, 2016, 06:26:06 PM
 #48

I will spend all my bitcoins on Purse.io.

 Cheesy  Cheesy

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.  Grin
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.
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August 28, 2016, 06:54:39 PM
 #49

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

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August 28, 2016, 06:58:46 PM
 #50

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.
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August 28, 2016, 07:11:31 PM
 #51

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.

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August 28, 2016, 08:08:44 PM
 #52

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.



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August 28, 2016, 08:46:23 PM
 #53

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.


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August 28, 2016, 08:47:39 PM
 #54

i would just buy some stuff for it
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August 28, 2016, 11:26:45 PM
 #55

Well, many investment opportunities out there, like Forex and HYIP accepts Bitcoins.

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

Quote
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.

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.

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 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.
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?


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August 28, 2016, 11:27:54 PM
 #56

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.

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August 28, 2016, 11:29:25 PM
 #57

i would just sell it all and that would be it, i think most of the people would do that
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August 29, 2016, 12:49:09 AM
 #58

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.
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.

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August 29, 2016, 12:54:54 AM
 #59

Just use a currency exchange website and convert to PerfectMoney or WMZ.
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August 29, 2016, 03:34:24 AM
 #60

I will spend all my bitcoins on Purse.io.

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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


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