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Author Topic: What will happen if bitcoin to fiat exchanges are banned ?  (Read 285 times)
taranbam
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June 19, 2018, 10:46:29 AM
 #21

Even if bitcoin is banned in the US, it will not mean anything. Of course they play a big role and influence the markets, but there are more powerful countries in the eom plan such as China, Korea, Japan. Therefore, I doubt that the US will do anything to the full
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June 19, 2018, 11:08:24 AM
 #22

I am not sure about this but I think there will be any people like in the localbitcoin.com that will help people to cash out their bitcoin and I think it will not be a problem to them. so far, the transaction is happening in the online and the transaction for the fiat is made by transfer between the banks. I think this will happen if bitcoin to fiat exchanges are banned. at that moment, I think that bitcoin price will be very expensive because bitcoin cannot be selling on the exchanges.

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June 19, 2018, 11:21:12 AM
 #23

There will always be a way around its not like globally all the governments are going to get together and decide to ban bitcoin and exchanges. The value would more than likely be affected and would more likely see its fiat value being valued by something else.

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June 19, 2018, 01:05:45 PM
 #24

- The price of bitcoin will decrease significantly.
 - People who are using Bitcoin as an investment will disappear.
 - Dark activity will return to the majority of users of these currencies.
The above scenarios are the worst that could happen if trading is banned globally. The ban in the US or trading platforms will not have a significant impact.
You can use online selling sites "localbitcoin & Paxful" as an alternative

 Bitcoin users will decrease because who uses something that is illegal anyway. That will be useless and then the value of bitcoin will be worthless in that specific country.

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June 19, 2018, 01:12:58 PM
 #25

If the coin exchange to Fiat is banned, then no money can be generated from Cryptocurrency. And crypto may be increasingly abandoned because of it.

But, keep thinking positive, because it will not happen.

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June 19, 2018, 01:16:58 PM
 #26

You have a good point there partner, most of times some people make it seem that they are really into crypto because of the cryptocurrencies but in reality they are just in here to earn their tokens and quickly sell them for some fiat currency. I think people still don't believe in bitcoin and the other cryptocurrencies but rather they still believe in the old system of fiat currency. i just wish we could all embrace the idea of Satoshi Nakamoto someday so that bitcoin would be used as currency globally.
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June 19, 2018, 01:18:35 PM
 #27

Lets assume that starting in USA all bitcoin to fiat exchanges are banned. Will people be still interested in Bitcoins? I believe the applications of the blockchain are many, however, most people are attracted to Bitcoins because of its fiat value (or USD value). Deep under I believe that people are really not interested in the use of bitcoins in a decentralized platform/application but more interested in converting Bitcoins in to USD. Fiat currencies still seems to be the norm. Any ideas ?? 
Your assumption is wrong. Sure maybe there are people who's interested in Bitcoin only as a speculation tool, but the majority are here for the decentralized p2p payment system. So yeah, people would still interested in Bitcoin. The price may drop significantly because of the ban but people who really believe in the technology can buy much cheaper and will be rewarded in the future.

I find it very unlikely that government want to ban exchange rather than regulating it. You see, by regulating exchange and forcing certain KYC/AML rule, they can earn a huge money in form of tax, from the user and the exchange itself.

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June 19, 2018, 01:19:27 PM
 #28

For sure when that happened the increasing demand of it's adaptation and legalization will really decrease and maybe the real supporters of this system will be lessen because unfortunately there is nothing to gain in here. However, when that happens there will be the other possible solutions for that.


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June 19, 2018, 02:10:59 PM
 #29

Lets assume that starting in USA all bitcoin to fiat exchanges are banned. Will people be still interested in Bitcoins? I believe the applications of the blockchain are many, however, most people are attracted to Bitcoins because of its fiat value (or USD value). Deep under I believe that people are really not interested in the use of bitcoins in a decentralized platform/application but more interested in converting Bitcoins in to USD. Fiat currencies still seems to be the norm. Any ideas ??  

Of course the effect would be massive if conversion to fiat is disabled and its not something we have to start considering now. Its going to cause a massive blow in the current price especially if its done at the same time and effected by all the whole countries in an aggressive manner. But at the same time, there will always be away out. I know that there are some countries that major exchanges site don't allow either card or bank transfers while some others are not allowed fiat withdrawals but the trade still continues by people in groups doing using their local currency, banks, gift cards which is made possible by the availability of peer-to-peer sites and these has been working fine till date.

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June 19, 2018, 07:37:26 PM
 #30

If it happened there must be the other way to exchanged it,because bitcoin is not legal in all country but people still use it and still exchange it, if that happen people will find a way to exchange it.
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June 20, 2018, 03:32:27 AM
 #31

Lets assume that starting in USA all bitcoin to fiat exchanges are banned. Will people be still interested in Bitcoins? I believe the applications of the blockchain are many, however, most people are attracted to Bitcoins because of its fiat value (or USD value). Deep under I believe that people are really not interested in the use of bitcoins in a decentralized platform/application but more interested in converting Bitcoins in to USD. Fiat currencies still seems to be the norm. Any ideas ?? 

If bitcoin to fiat exchanges banned, you just have to find other exchanges that accepting fiat currency.
But if ALL exchanges not accepting fiat anymore, then you won't be able to buy crypto.

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June 20, 2018, 03:37:52 AM
 #32

if that happens, then bitcoin is no longer worth investing, because it does not value the comparison again to the dollar or euro, pounds, or other currencies. may be just an online transaction tool, but its value will not be as big as now.

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June 20, 2018, 03:39:08 AM
 #33

Nope, that won't happen if you ask me. There are a lot of ways for Bitcoin to be exchange into a fiat. A lot of exchanges are being created to prevent this kind of things to happen just like decentralized exchanges. Nothing can stop Bitcoin at this point. Also, the government are stupid to even ban those exchanges because that's where they get taxes too and the fact that Bitcoin is being use in a lot of ways now, even if exchanges are ban in a certain country, there will always be a country that accepts it because they know what this thing holds.

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June 20, 2018, 03:40:11 AM
 #34

This won't ever happen but I don't use exchanges anyway they're meant to scam you at some point of the time, now let's assume it does happen so what? Peer to Peer transaction, transfer it to another country exchange there're so many ways to go about it, I don't think it'll hardly make a difference to anyone except this section will be flooded by fud and dumb topics Grin

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June 20, 2018, 04:43:07 AM
 #35

Long before people from developed countries are interested in bitcoin investing, people in poor countries are already using bitcoins. Not only because of its high value but they are aware of the benefits of using bitcoin for their lives. Bitcoin makes faster and more tax-free remittances between countries. So even if the US does not support bitcoin by banning bitcoin from dollar exchange, it will not have a big effect.
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June 20, 2018, 04:55:17 AM
 #36

When bitcoin being banned then it will affect the price, people will have difficulty to withdraw the money and feel that its not convinience to hold bitcoin as investment, although there still other ways to cash out, but people will feel not comfortable to used it, the fiat for exchange with bitcoin is not a problem, we still have other strong currencies like ruble, euro or poundsterling

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June 20, 2018, 04:59:56 AM
 #37

If this happens, there are still many ways to trade bitcoin in fiat money. And we can not prevent people from doing so because bitcoins can greatly help us. So even though the exchange is banned, there are many ways. P2P,


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June 20, 2018, 05:01:58 AM
 #38

of course we have to move to the exchangers who still receive the exchange of bitcoin with fiat currency. if indeed bitcoin can not be exchanged with fiat currency any country I am sure btcoin will be destroyed

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Haxor321
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June 20, 2018, 05:11:26 AM
 #39

Lets assume that starting in USA all bitcoin to fiat exchanges are banned. Will people be still interested in Bitcoins? I believe the applications of the blockchain are many, however, most people are attracted to Bitcoins because of its fiat value (or USD value). Deep under I believe that people are really not interested in the use of bitcoins in a decentralized platform/application but more interested in converting Bitcoins in to USD. Fiat currencies still seems to be the norm. Any ideas ?? 
I think that has small chances to be happen because the main purpose of people why thy engaged to this system is anytime they can easily withdraw their money or investment in a way of exchanges so if that happen for sure there cause a big destruction to this system and maybe mostly people that engaged to it and supporting to it will be disappeared. People are very smart they won't involved in anything that they are known are useless. But hopefully it won't be happen.


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June 20, 2018, 05:11:53 AM
 #40

Lets assume that starting in USA all bitcoin to fiat exchanges are banned. Will people be still interested in Bitcoins? I believe the applications of the blockchain are many, however, most people are attracted to Bitcoins because of its fiat value (or USD value). Deep under I believe that people are really not interested in the use of bitcoins in a decentralized platform/application but more interested in converting Bitcoins in to USD. Fiat currencies still seems to be the norm. Any ideas ?? 
I believe tht if this happens im sure people will start to use bitcoin as what this is created for,because today people use this as an asset and holding this for long term,but with this law then we have no option but to use it that way.though for sure prices will drop significantly and wont be back as what it use to be



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