01-06-2022, 12:03 AM
Would you still buy crypto if you couldn't exchange it back to fiat?
<!-- SC_OFF --><div class="md"><p>Earlier today, I saw someone on here commenting that they would <em>never</em> sell some coin they held - nothing too unusual, there are people saying that every day. But it got me thinking: if you <strong>could</strong> never sell your crypto for fiat, would people still buy it?</p> <p><strong>This is a thought experiment.</strong> In this scenario, you couldn't exchange crypto for fiat, ever - but it's not just that exchanges wouldn't offer it, there would be no loophole (<strong>edit: so also no crypto credit/debit cards</strong>) for it. You, for some reason, could not find someone to privately sell your coin to for fiat. In this hypothetical world, everything would be the same as now - you could buy crypto with fiat, you could use crypto for their use cases, and you could even use crypto to buy stuff in the few places that enable it - but you could not get fiat for it. This means, you would either have to have a use case for crypto that isn't "getting more money", or you would have to speculate on more adoption and more merchants accepting crypto in the future.</p> <p>Would you still invest in crypto? I'll be honest: I'm in this to make more fiat, if I couldn't exhange crypto for fiat I would not invest. What about you?</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/mic_droo"> /u/mic_droo </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rwq3mg/would_you_still_buy_crypto_if_you_couldnt/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rwq3mg/would_you_still_buy_crypto_if_you_couldnt/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>Earlier today, I saw someone on here commenting that they would <em>never</em> sell some coin they held - nothing too unusual, there are people saying that every day. But it got me thinking: if you <strong>could</strong> never sell your crypto for fiat, would people still buy it?</p> <p><strong>This is a thought experiment.</strong> In this scenario, you couldn't exchange crypto for fiat, ever - but it's not just that exchanges wouldn't offer it, there would be no loophole (<strong>edit: so also no crypto credit/debit cards</strong>) for it. You, for some reason, could not find someone to privately sell your coin to for fiat. In this hypothetical world, everything would be the same as now - you could buy crypto with fiat, you could use crypto for their use cases, and you could even use crypto to buy stuff in the few places that enable it - but you could not get fiat for it. This means, you would either have to have a use case for crypto that isn't "getting more money", or you would have to speculate on more adoption and more merchants accepting crypto in the future.</p> <p>Would you still invest in crypto? I'll be honest: I'm in this to make more fiat, if I couldn't exhange crypto for fiat I would not invest. What about you?</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/mic_droo"> /u/mic_droo </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rwq3mg/would_you_still_buy_crypto_if_you_couldnt/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rwq3mg/would_you_still_buy_crypto_if_you_couldnt/">[comments]</a></span>Kind Regards R