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Author Topic: What if everyone withdrew their coin in fiat?  (Read 3927 times)
futuret
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March 21, 2018, 08:03:46 PM
 #261

Would there be enough money in the exchanges? Would bitcoin fail?

If EVERYBODY wanted to dump all their BTC, the price would go to ~$0/BTC... So yes, in this case there would be enough FIAT on the exchanges.
It's all supply and demand. If the supply is huge and the demand is 0, the price goes trough the floor.

isn't bitcoin supply limited? about the demand maybe it will influence the price, but the supply only limited for 21 million only and there is also about the dead bitcoin.
Supply is limited to the 21 million but the demand is what decides about the supply either it is sufficient or not because if at one time there are 1 million bitcoin owners who want to sell their bitcoin and only half million persons are there who want to purchase the bitcoin, then certainly the price of the bitcoin will fall because the supply is more than the demand at that time, so in my opinion this is how the system works.
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March 21, 2018, 08:27:22 PM
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 #262

I think people will pull their coins at the highest price or the price of the coins in the prediction will fall as it could be from the number of bitcoin more and more and the fewer its consumers affect the price of the coin.

That's the common mentality of most people here, that's why the best business move is to always "hold" right? It has been in their attention that if you would transact on times when the market is down, then it would be the dumbest move that you ever could do because you would only get a loss. Having said that, I think that the trading sites have enough if that happens where people would invest their coins for money. That happens and we have not heard of the market crashing or anything, I think those trading sites are getting more than enough as they impose high transactions fees these days and a little more.

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March 21, 2018, 09:23:27 PM
 #263

The price of bitcoin is being affected by the demand and supply of individuals and if everyone were to withdraw their coin into fiat, it will certainly cause a decrease in value because there will always be dumps at all times.

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March 21, 2018, 09:38:35 PM
 #264

I think it is something similar of this question: What will happen if everyone burn their paper money?
It won't happen I bet so I think the same about bitcoin, not everyone will withdrew their coin in fiat + remember that there are some lost coins + satoshi nakamato.
Even if we consider this fact, high demand = low price and finally this coin will fall and destroy if everyone sells. But remember, exchangers won't do that.

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March 23, 2018, 02:04:33 AM
 #265

Regardless of whether or not there's no association between all trades, they as of currently have the usd which is that the factor that creates them a interchange any case. The factor with most trades is that they exchange similarly, and that they take advantage of these variances, thus toward the tip, there got to be decent to travel around. Asides that similarly, i actually do not place stock in any trade if at any purpose a state of affairs like that happens, they'll basically stop working or stop withdrawals, however we will not see a circumstance like this in any case.
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March 25, 2018, 07:02:19 PM
 #266

Would there be enough money in the exchanges? Would bitcoin fail?

Bitcoin will not fall. As we know bitcoin had been trusted by most investors since it is the first cryptocurrency to be ever successful and to bring convenience not just to people, but also business establishments. Most investors will surely buy more bitcoin once bitcoin price goes down at a very cheap price. So, I doubt if bitcoin will ever lose it's value down to zero.

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March 26, 2018, 06:21:11 AM
 #267

Would there be enough money in the exchanges? Would bitcoin fail?

Supply is over loaded and price will fall deeper and deeper. If this happens to Bitcoin the whole market crashes like domino effect. It is different story if it happens to just one or two of alt coins.

Given the market is unregulated, I would question if the exchanges have enough fiat to pay out everyone. I would say for most that it would be very unlikely.

Although you could argue that the same exists for banks. If everyone went to ATM's or bank branches at the same time and withdrew their savings in cash paper notes, there wouldn't be enough and the banks would be insolvent. Something slightly similar happened to Greece a few years back as part of Grexit, where Greeks were restricted to withdrawing something like $200 euros a day from their accounts, as there was concerns the country would leave the eurozone and have to start their own (less valuable) currency.

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April 01, 2018, 05:35:14 PM
 #268

Would there be enough money in the exchanges? Would bitcoin fail?

If you were asking if Bitcoin will fall, I strongly believe that Bitcoin will never fail. Why? Most of the countries are starting to accept cryptocurrency as an alternative mode of payment and considering Blockchain technology apply to different platforms.

If Bitcoin will not fall, I think I don’t have to answer your first question.

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April 01, 2018, 05:53:16 PM
 #269

They can take it. They should be.

Well after what you are imagining then it will be a chance for the new ones to buy at a cheaper price.
There will always be buyers. That is the truth.
Many people wants to get invested and if the buyers are too much it will gain value again. Demand is there so it will never stop to go up.

What is with all this negativity with bitcoin with just $1000 of dollars lost? You are all rejoicing when bitcoin grows so rapidly and you didnt even consider thinking it will fall back.

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April 01, 2018, 05:59:03 PM
 #270

Would there be enough money in the exchanges? Would bitcoin fail?

If you were asking if Bitcoin will fall, I strongly believe that Bitcoin will never fail. Why? Most of the countries are starting to accept cryptocurrency as an alternative mode of payment and considering Blockchain technology apply to different platforms.

If Bitcoin will not fall, I think I don’t have to answer your first question.
They can do whatever they want in their money, I don't really make panic because I don't want to lose hope although the price really makes us sad but still thankful that I am holding some and having the chance and opportunity now to buy more so at least I know that at the end of the year we'll all celebrate again.

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April 01, 2018, 06:09:59 PM
 #271

this situation is impossible in market. Because there are no reason to people do that. If they dont like Bitcoin, they can choose altcoins. even the worst shitcoins have their fans

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April 01, 2018, 06:11:28 PM
 #272

If everyone withdrew their coin into fiat then I guess the value of these coins will fall, so most likely there is enough money to convert these coins into fiat. But the problem would be that these exchanges would also be closing down if ever it is going to happen. A lot of things will happen if everyone withdraw their coins for sure.
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April 01, 2018, 06:18:03 PM
 #273

If everyone withdrew their coin into fiat then I guess the value of these coins will fall, so most likely there is enough money to convert these coins into fiat. But the problem would be that these exchanges would also be closing down if ever it is going to happen. A lot of things will happen if everyone withdraw their coins for sure.
I don't think that we do have all kind of mindset for sure some people will stay here in bitcoin no matter what the price we have right now, so better to just stay your holdings and just continue to buy what you can so that your investment can be added to your current holdings.

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April 01, 2018, 06:45:45 PM
 #274

Why on earth would everyone "cash out" for FIAT which continues to decline in value? You seem to miss the strong point of Bitcoin being a deflationary currency based on its' fixed 21 million supply.

But still if we get there, that means that Bitcoin is no longer just an investment, but an actual currency. People will "cash out" their btc to buy bread, cars, homes from someone who will use it to do the same.

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April 22, 2018, 08:37:53 AM
 #275

I agree with those who say it would be nearly the end of crypto. But still, it's the question of demand. Many people found a good source of income on the exchanges. They will create (and already do it) the demand for crypto and manipulate the market in such a way that all people at once won't be able to cash out all the money in fiat.
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April 22, 2018, 01:25:55 PM
 #276

... well if "everyone" will, then bitcoin, crypto in general will crash. bitcoin's value depends on its supply/demand. so if there's no demand then there's no value.
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April 23, 2018, 09:10:57 AM
 #277

Would there be enough money in the exchanges? Would bitcoin fail?
If you were asking if Bitcoin will fall, I strongly believe that Bitcoin will never fail. Why? Most of the countries are starting to accept cryptocurrency as an alternative mode of payment and considering Blockchain technology apply to different platforms.

If Bitcoin will not fall, I think I don’t have to answer your first question.

This is impossible, at least not all the people can withdraw their coins in fiat, some will exceed the limit to withdraw the coins in fiat (daily/weekly/monthly or even yearly), some others will immediately close their exchange or their website will go "offline" due to some errors in their servers or even some maintenance.
The price of course will start falling down because this makes a huge panic to the people and this is the best moment to buy and banks at this stage buy which they plan to sell later at ATH.


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April 23, 2018, 10:05:33 AM
 #278

If the price of bitcoin essentially drops, then of the 7 billion people on our planet there will always be enough people willing to risk that would try to increase their money several times.
winspiral
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April 23, 2018, 10:33:48 AM
 #279

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What if everyone withdrew their coin in fiat?

This question is unlogic and the doing is impossible.
See the trade on my WSPU2 faucet.
You can see that if too many tokenholders sell the price goes so much down that soon or late other people will be interested in buying.

And with withdrawing coin it is more unlogic because if someone sells...an other one buys...so never all coins are sold.

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April 23, 2018, 10:35:54 AM
 #280

Everything would just be fine, as always
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