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Author Topic: If one day BTC cannot be traded for cash, what will you do?  (Read 6024 times)
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August 29, 2016, 03:43:08 AM
 #61

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.

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August 29, 2016, 03:52:46 AM
 #62

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.
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August 29, 2016, 04:22:03 AM
 #63

I will spend all my bitcoins on Purse.io.

 Cheesy  Cheesy

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.
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August 29, 2016, 04:40:04 AM
 #64

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

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August 29, 2016, 05:10:17 AM
 #65

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.
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August 29, 2016, 05:39:25 AM
 #66

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^

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August 29, 2016, 06:51:01 AM
 #67

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
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


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August 29, 2016, 07:18:54 AM
 #68

I will spend all my bitcoins on Purse.io.

 Cheesy  Cheesy

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.

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August 29, 2016, 07:22:15 AM
 #69

I would cry  Undecided Undecided Undecided  . or maybe panic trade them to other altcoins.

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August 29, 2016, 07:27:33 AM
 #70

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.

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August 29, 2016, 07:33:07 AM
 #71

I will spend all my bitcoins on Purse.io.

 Cheesy  Cheesy
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 ?

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August 29, 2016, 07:45:31 AM
 #72

I would cry  Undecided Undecided Undecided  . or maybe panic trade them to other altcoins.

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 Cheesy  This is the literal long term holding  to the infinite lol.
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August 29, 2016, 08:35:36 AM
 #73

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

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August 29, 2016, 08:41:11 AM
 #74

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.Smiley.

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August 29, 2016, 08:55:20 AM
 #75

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.


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August 29, 2016, 10:12:54 AM
 #76

I'll be like thank god I didn't convert my life savings to Bitcoin  Cheesy 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.
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August 29, 2016, 10:29:42 AM
 #77

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.
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August 29, 2016, 10:42:48 AM
 #78

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


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August 29, 2016, 11:27:56 AM
 #79

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.
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August 29, 2016, 12:38:13 PM
 #80

I will spend all my bitcoins on Purse.io.

 Cheesy  Cheesy

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.
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


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         ╙█████▄▄╓,       ,╓▄▄█████▀         
            ▀▀█████████████████▀▀           
                '▀▀▀▀▀▀▀▀▀▀▀'

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