Can Bitcoins Be Cashed?

[carrigan]

Of course Bitcoin can be cashed. But if something like what you said happens, namely the government prohibits people from cashing Bitcoin, this is a bad possibility. I never expected this to happen to cryptocurrencies, of course this would hit many parties in cryptocurrency. Seeing that many countries have legalized Bitcoin, I hope this is a positive thing, this indicates that Bitcoin is not too dangerous even though it cannot be controlled by anyone. So I hope Bitcoin will not be banned for cashing

[herizal85]

Anything can happen, but now there are several countries that have legalized bitcoin and made bitcoin a transaction tool so that if bitcoin is closed by the government, I think some bitcoin users still have a gap to access it.

[glendall]

of course bitcoin can be used as money and until now it is still safe to do bitcoin transactions and if the government closes access to exchanges in every country there is still a P2p method,
and surely the people will definitely be on standby in anticipation if the government closes all assets from entering the internet
the point is as long as the internet still has bitcoin, there will always be transactions

[bamb]

Bitcoin is a digital currency that circulates freely, without any control or supervision from banks, governments, or anyone else. In contrast, bitcoin relies solely on cryptography and software between computers.

what if the government closes or does not allow the exchange of Bitcoin or cryptocurrencies with the official currency in each country? 

If government restrict or ban bitcoin and other Cryptocurrency entirely,  I think bitcoin will still be useful and serve as store of value.  I think your worried that you will not be able to spend your bitcoin if we have situation you described as most people turn bitcoin to fiat before spending.  As it is,  there are many services and vendors who accepts bitcoin as form of payment, and there will still be more in the future! So, nothing to worry about!

[susuberuang]

Bitcoin is a digital currency that circulates freely, without any control or supervision from banks, governments, or anyone else. In contrast, bitcoin relies solely on cryptography and software between computers.

what if the government closes or does not allow the exchange of Bitcoin or cryptocurrencies with the official currency in each country? 

Pretty good question for everyone from a newbie who seems to be a smart person, so I will give an answer that can satisfy you in this case, if all countries close or do not allow Bitcoin or cryptocurrency exchanges to operate in every country, then other alternatives will exist for this, so you don't have to worry about this and only stupid countries will ban it, because when every country can get good results through cryptocurrency without disturbing the state system or regulations and state rules, then there is no reason for every country to shut it down.

[velosepur]

Today few countries but in next few years much more will allow to use crypto and btc. Btc have many good usages governments will see it soon.

[MIner1448]

As far as I know, so the government does not really allow transferring bitcoins into fiat money, at least openly, and if it does, then pay tax. If there are even countries where it is allowed to openly exchange bitcoin for fiat money, then of course if everyone does it en masse, then the government will prohibit cashing out.

[batang_bitcoin]

It's just a situation that can never happen. Even if huge countries does that, there will be pro-bitcoin countries that won't allow that to happen. Anyway, there has been too many discussions about these if situations, and if that happens, we'll still continue and transactions would occur peer to peer and there's no need to cash it if that worse situation happens.

[Rengga Jati]

what if the government closes or does not allow the exchange of Bitcoin or cryptocurrencies with the official currency in each country? 

This happened in some countries that ban or don't legalize Bitcoin or other cryptocurrencies.
It will be difficult, but it doesn't mean "cannot". One of the ways if we are going to cashing out is by converting it to USD or others. But fortunately, there are P2P platforms with good reputations and trust. So, if this happens, you can use this way to cash out your Bitcoin.
But actually, although there is a ban in a country, many citizens in fact are still trading and investing in Bitcoin and cryptos. Because there are ways for it, and this crypto world is promising for them.

[crzy]

Bitcoin is a digital currency that circulates freely, without any control or supervision from banks, governments, or anyone else. In contrast, bitcoin relies solely on cryptography and software between computers.

what if the government closes or does not allow the exchange of Bitcoin or cryptocurrencies with the official currency in each country? 

If a country did this, you can't do anything about it and the only option that you have is to travel and do sell your holdings somewhere else and also, you can try exchanges that is still available in your country, P2P might still be the option.

Anyway, this wont happen in many countries anymore because the adoption has begun, and we are growing so hopefully more government will truly accept cryptocurrency and make this legal.

[ene1980]

Bitcoin is a digital currency that circulates freely, without any control or supervision from banks, governments, or anyone else. In contrast, bitcoin relies solely on cryptography and software between computers.

what if the government closes or does not allow the exchange of Bitcoin or cryptocurrencies with the official currency in each country? 

As long as there are people willing to trade and there is internet, you can cashout your coins if you want. I am expecting a situation where all the countries are going against a big market like us, there might countries that are not smart enough to understand what they are dealing with and can come up with regulations to ban them but they are only a few and in the broader aspect there is always options even for users to trade that are living in a country that banned them.

[lienfaye]

what if the government closes or does not allow the exchange of Bitcoin or cryptocurrencies with the official currency in each country? 

As long as bitcoin is not ban in the particularly country then p2p would be the solution if the government prohibited the exchange of cryptocurrency.

Good thing this situation cant possibly happen in our country because they're not restricting us to use bitcoin although the government are reminding the investors about the risk of engaging ourselves since its an speculative asset that can turn the value to zero (though for me its unlikely) and they cant control it.

[MoneyJ]

In today's technology, who cares about physical cash anyway. Bitcoin without physical form can live as long as there is Internet and can be presented as a medium of exchange just as gold without any form of central entity to restrict it . Bitcoin itself has become a  true store of value albeit physical presence.

[terrorJR]

this can indeed happen but the problem is the impact when this happens. because of course everything, especially related to finances, will have consequences, both good and bad.
and when the government prohibits the exchange of bitcoin with the official currency directly this is actually fine depending on the policies of the government itself but the impact of this prohibition must also be accepted because I think this if it really happens it will be detrimental to the government itself.
besides that even if this becomes illegal, of course, everyone who is in the crypto world like this will certainly not accept it gracefully because more or less rules like this will have no impact on the community because they could use illegal ways to do it even though not everyone does it but surely there will be those who violate the policy.

[Koro-Sensei]

Bitcoin is a digital currency that circulates freely, without any control or supervision from banks, governments, or anyone else. In contrast, bitcoin relies solely on cryptography and software between computers.

what if the government closes or does not allow the exchange of Bitcoin or cryptocurrencies with the official currency in each country? 

Well if that happens, you can still convert it Paypal money and now you can cashout it already. There are many regulated money sending businesses accepts paypal so it would not a hassle to claim your income. Aside from that, I think a black market will be created if a country does ban it. A p2p could be a great alternative.

[tsaroz]

Bitcoin is a digital currency that circulates freely, without any control or supervision from banks, governments, or anyone else. In contrast, bitcoin relies solely on cryptography and software between computers.

what if the government closes or does not allow the exchange of Bitcoin or cryptocurrencies with the official currency in each country? 

It would not be possible for every government around the world to crash down on bitcoin at once with strict measures. Not all government are autocratic and some of them even listen to their citizens.
The more the government tries to control, the more people would defy it. It may get difficult for people to speak out about trading the coins in public and it might be hard to get buyers and sellers but people would find their ways. Not every government has same level of influence and people would just move to an easier place to cashout or just ask people from easier jurisdiction to cash and wire them.

[Silver80]

Bitcoin is a digital currency that circulates freely, without any control or supervision from banks, governments, or anyone else. In contrast, bitcoin relies solely on cryptography and software between computers.

what if the government closes or does not allow the exchange of Bitcoin or cryptocurrencies with the official currency in each country? 

it has happened since its inception, why are you panicking now with regulations, just enjoy it as long as your country considers it not a crime that can be jailed, just do it.

[guydin]

I don’t think that all countries are likely to forbid exchanging Bitcoin to fiat, otherwise I think it might depreciate. Or maybe people will start rebelling, so it's not very safe for the government to do so. Anyway, I repeat again that it is not likely to happen. Developing countries are starting to use Bitcoin as a national currency, it plays an important role today.

[velosepur]

All governments want and like to have full control so that is main reason why avoiding involve crypto in flow. Till it change there is many ways to get cash for our crypto amounts. members mentioned it already before in messages here.

[Jilapikhamu]

Yes i think btc again touch 40 k than pull back