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Author Topic: If one day BTC cannot be traded for cash, what will you do?  (Read 5584 times)
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August 29, 2016, 02:41:48 PM
#81

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.
i would also spend my bitcoins on some digital goods in order to benefit as much as possible from it, i think that would be the best decision


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August 29, 2016, 03:58:15 PM
#82

bitcoin as the most popular cryptocurrency currently and if that really happening then this is could be end of the cryptocurrency world because all bitcoin and altcoins exchanges will be closed it mean nobody can using bitcoin any longer and i think nothing we can do beside look bitcoin balance in our wallet without traded for cash
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August 29, 2016, 06:55:30 PM
#83

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..
I think there would still be some sort of background market that will hold the value for bitcoins. I think bitcoin has come to this status where there is no turning back. It will always hold some sort of increasing spending value that will never go away.


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August 29, 2016, 06:58:21 PM
#84

it is really simple, i would just buy a lot of steam games in order not to throw away bitcoins i already have

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August 29, 2016, 08:49:24 PM
#85

Thread makes no sense  Embarrassed  Embarrassed

What in the world could make BTC untreadeable for cash? And how in that kind of scenario would it be tradeable for anything else at all? How would then anybody want to or be able to still buy them on say purse.io (so you can spend them)?

This thread makes no sense...

Is it about the market price going straight to $0? That's only possible if there's nobody that would want to pay a penny just to own a record in the oldest blockchain.
Is it about some kind of law prohibiting fiat<->crypto exchanging? Then why would anyone accept it for goods or services at all? Are we assuming 100% of all humans on the entire planet would abide by this law and no black markets would emerge?
Is it about a hypothetical technological innovation/advancement that would be strictly better than Bitcoin in every possible way and not worse in any single way - something that would obsolete Bitcoin entirely and cause all miners to turn off their machines? Even then the old BTC would still retain some value as a collectible, even though it would require significant money to pay someone to run a miner and write a block.
Is it about a technological or environmental catastrophy that would break Bitcoin beyond any possible use? Global nuclear war? Massive worldwide neverending electromagnetic storm? Invention of a way to break into any computer from a sattelite and just delete all copies of the blockchain in existence?

Or is it about a scenario where you cannot trade BTC for cash because there's no cash other than BTC - that case would be epic win.

You need to be more specific with the doom and gloom visions so we can discuss reasonable outcomes or rather convince you it's just impossible to happen.
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August 29, 2016, 09:58:44 PM
#86

hen I will not have any problem, as I can easily use it for my shopping on online stores, showpal is also a good place to shop from online store and with that I also can do trade to the altcoins and can sell that coins.

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August 29, 2016, 10:20:21 PM
#87

I have 3,000 hungarian forints in my wallet, right now. That's cash but I'm quite far from Hungary right now, and there's no place where I could exchange them to the local currency. So they're basically worthless, but as I'm planning to go back to Hungary in a few months, I'll keep them preciously. Same thing could happen to BTC. It could be worthless among the majority, but a minority will keep on believing in it, so it'll keep some value elsewhere, among other people.
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August 29, 2016, 10:26:48 PM
#88

if this would ever happen. there won't be purse.io then. because if there is no one wants to pay cash for bitcoin then this site won't find any people to buy your good
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August 29, 2016, 10:27:38 PM
#89

The single most important improvement of bitcoin would be using it as a medium of exchange. I've been supporting sales with bitcoin and I myself have bought many goods like online games and hosting services with my bitcoins. However, each time I spend my btc buying something I get the feeling that it would rise and I'll be unable to make profit. Stability, with it deserved price (values same as the dollar's marketcap worldwide), is the position we must somehow enter. So we can use btc as cash.


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August 29, 2016, 10:42:53 PM
#90

bitcoin as the most popular cryptocurrency currently and if that really happening then this is could be end of the cryptocurrency world because all bitcoin and altcoins exchanges will be closed it mean nobody can using bitcoin any longer and i think nothing we can do beside look bitcoin balance in our wallet without traded for cash
Source of your thinking is still deeply rooted in the FIAT establishment. We don't need to convert everything to dollar, euro, peso.
In the end our goal is eliminate FIAT from the equation, Bitcoin is all we need. We re aiming for total BTC adoption, don't we?

Bitcoin is certainly more valuable through its additional features than standard FIATs.

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August 29, 2016, 10:47:46 PM
#91

I will spend all my bitcoins on Purse.io.

 Cheesy  Cheesy
i would exchange with other coins and the turn it into cash. if that would be possible
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August 29, 2016, 11:04:32 PM
#92

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 when bitcoin can not exchange back into cash. maybe it was the end of his own bitcoin. maybe it will happen in a few more decades
yeah I'm sure bitcoin has late age. but for the time being in the heyday bitcoin. and during that time also I believe bitcoin can be in exchange for fiat?


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August 29, 2016, 11:05:09 PM
#93

If BTC was to no longer be traded for cash, chances are i would either exchange it to something else that can be exchanged for cash (e.i. another altcoin or something) or I would go and buy whatever i can with the Bitcoin that I have, and get some good that can be sold at a later date, even if it is for a loss. At that point it would basically just be anything that I could still buy with bitcoin I would buy, and then I would see if the process could be repeated. if i could do that, then I would consider keeping up with he community, but if that process wasn't repeatable, then chances are i would stop and go on to something else.














 

 

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August 29, 2016, 11:09:56 PM
#94

Depends on the situation:  If exchanges went kablooey, and it really wasn't possible to get fiat for bitcoin, and it somehow wasn't possible to do deals on the currency exchange section here, I would say we're in trouble.

What I'd probably try to do is buy some precious metals on Provident or one of the other places.  Again, the situation would have to be pretty dire, and I doubt merchants would be taking bitcoin if they couldn't get fiat.  I think we'd all be fucked.



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August 29, 2016, 11:11:55 PM
#95

Can you clarify this? If Bitcoin cannot be traded for fiat, it means that it has no value, right? If Bitcoin has no value then how can you spend it on Purse.io? I am a little confused about that.

Anyways, to answer your question, I would probably do what everyone else seems to be doing. Store it and wait for the price to rise again. If it doesn't seem to go up for a long time, I may just switch with by investing to some other Altcoin like Ethereum.

Smiley
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August 30, 2016, 01:05:06 AM
#96

it is really simple, i would just buy a lot of steam games in order not to throw away bitcoins i already have
is it possible bitcoin still valuable and can be used as a payment option although bitcoin can not be in exchange for fiat? I can not think when bitcoin in exchange for fiat that means bitcoin already do not have the price a dime and you can not use bitcoin as a payment method


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August 30, 2016, 01:08:16 AM
#97

If BTC was to no longer be traded for cash, chances are i would either exchange it to something else that can be exchanged for cash (e.i. another altcoin or something) or I would go and buy whatever i can with the Bitcoin that I have, and get some good that can be sold at a later date, even if it is for a loss. At that point it would basically just be anything that I could still buy with bitcoin I would buy, and then I would see if the process could be repeated. if i could do that, then I would consider keeping up with he community, but if that process wasn't repeatable, then chances are i would stop and go on to something else.

I understan your attempt but if bitcoin king of crypto doesnt exchange anymore to fiat i do believe all altcoins will be on the same boat, meaning they wont as well, or the price should get too big. I dont expect never bitcoin loose it support with fiat.



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ANN Thread
Indrawan77
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August 30, 2016, 01:16:59 AM
#98

If bitcoin cant be traded for cash then i will exchange it to alt coin, or maybe i am just going to buy stuff with bitcoin, i will buy games and anything that is valuable, if nobody want to accept bitcoin again then, i will dump it because it has become worthless

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August 30, 2016, 01:21:09 AM
#99

Can you clarify this? If Bitcoin cannot be traded for fiat, it means that it has no value, right? If Bitcoin has no value then how can you spend it on Purse.io? I am a little confused about that.

Anyways, to answer your question, I would probably do what everyone else seems to be doing. Store it and wait for the price to rise again. If it doesn't seem to go up for a long time, I may just switch with by investing to some other Altcoin like Ethereum.

Smiley

Do you think there will be an altcoin left once butcoin fall or doesnt have a price anymore. What will ETC or ETH supporters thinks when that happen. I bet they will all be scared that they may be next in line which will lose its value.

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August 30, 2016, 01:23:36 AM

If they made a law that you could not inhale air, what would you do, hold you breath?

的t's easier to fool people than to convince them that they have been fooled. Mark Twain
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