Good to know that you received a portion of your income in BTC. I read somewhere that some other companies pay staff in their own company's token rather than in Bitcoin, which I also encourage. An example is TenX, a blockchain technology firm that pays staff their monthly bonus in Pay tokens, the firm's own digital currency.
BTW, I'm curious, do you pay taxes on your Bitcoin?
Topic: Do you worry about not being able to convert BTC to fiat in future - page 2. (Read 1355 times)
August 08, 2021, 03:25:26 AM
August 08, 2021, 03:06:32 AM
When I got to know of bitcoin some years ago , converting bitcoin was a big issue and if you did manage conversation rates were too high.
Now that crypto is known almost every where, converting btc to fiat is super easy and in some countries you have the option of using btc cards and the future should see the same innovation to continue.
I agree with you and I don't see Bitcoin conversion to fiat as a problem even in the future. There are many ways to use cryptocurrencies now even directly in its crypto form in some places and there are other means via banks or still through p2p. I don't believe even in the future, there is still going to be a problem as there might even be many other means to use and convert crypto. Now that crypto is known almost every where, converting btc to fiat is super easy and in some countries you have the option of using btc cards and the future should see the same innovation to continue.
August 02, 2021, 03:55:53 AM
I don't think there is any need to worry about this. Now most people still hold Bitcoin, and some large companies have begun to adopt Bitcoin, and some countries even use it as legal currency. Bitcoin is still in circulation in the market, and Bitcoin will always be converted into legal currency.
Even if the country bans the use of cryptocurrencies such as Bitcoin and is no longer willing to accept Bitcoin to fiat currency exchanges, we can still exchange them on the P2P platform.
Even if the country bans the use of cryptocurrencies such as Bitcoin and is no longer willing to accept Bitcoin to fiat currency exchanges, we can still exchange them on the P2P platform.
July 30, 2021, 11:14:50 PM
The usage rate of cryptocurrency will become higher and higher. If the country supports bitcoin payment transactions, most banks will inevitably relax the restrictions on cryptocurrency. You can use cryptocurrency to pay for anything, so there is no need to encrypt Currency is converted to legal tender.
If bitcoin payment is not allowed, then P2P exchange will be the best option. Or invest funds other than the cost of living in Bitcoin on a regular basis.
If bitcoin payment is not allowed, then P2P exchange will be the best option. Or invest funds other than the cost of living in Bitcoin on a regular basis.
July 30, 2021, 09:44:43 PM
Of course, it is practically impossible to spend one's btc on groceries or on daily expenses because there are extremely few number of merchants that accept Bitcoin in exchange for these goods and services.
However, with the ban countries are placing on cryptocurrency transactions, it would only means that people will have to resort to P2P. During the recent ban on cryptocurrencies in Nigeria, a lot of crypto transactions still happen even with the ban because of the alternative called P2P.
However, with the ban countries are placing on cryptocurrency transactions, it would only means that people will have to resort to P2P. During the recent ban on cryptocurrencies in Nigeria, a lot of crypto transactions still happen even with the ban because of the alternative called P2P.
July 30, 2021, 05:15:50 PM
it may just be a past incident that makes many people worry about this happening, but we are not at all worried about this because we have faced it in the past and this will not be affected by an investment in the crypto world for in the future because this is very often the case in the investment world, especially in the world of bitcoin
Faced in the past? Could you post some situation that do really impose about this problem? Yes, there might be some regulation on some merchants but doesnt mean that they've been totally been shackled out.Its true that this would really be a hassle when regulation becomes too tight into these situations but there would always be some alternative on where people could select on.
For now its not really that stressful because we can still convert btc to fiat without any hassle or hindrance atm which we do hope that it would last for more longer.
July 30, 2021, 02:23:56 PM
I never worry about it, there are many ways we can do to exchange our BTC on fiat
the government with its power will not be able to close p2p transactions that we can do
After all, things like that won't happen, if it's true that they will be banned from all exchanges, they would have done that a long time ago
BTC can't ignore. the money generated is really very large, the government must really like it
the government with its power will not be able to close p2p transactions that we can do
After all, things like that won't happen, if it's true that they will be banned from all exchanges, they would have done that a long time ago
BTC can't ignore. the money generated is really very large, the government must really like it
July 30, 2021, 01:54:06 PM
Op has created a good discussion topic. Everyone might've this in their inner mind, because bitcoin at present isn't independent. It highly depend on the fiat and the banking system. Maybe in future if we get access for direct usage of bitcoin, the scenario might change. Right now with the limited acceptance of bitcoin we can't imagine of such scenario.
The countries altogether or the banking firms all around the globe won't restrict the usage of bitcoin and other cryptocurrencies in a day. Also every banking service provider and governments won't take the same decision. So people move to other countries and make use of it. Similar things have already happened with users when the Holdings were supposed to be banned.
The countries altogether or the banking firms all around the globe won't restrict the usage of bitcoin and other cryptocurrencies in a day. Also every banking service provider and governments won't take the same decision. So people move to other countries and make use of it. Similar things have already happened with users when the Holdings were supposed to be banned.
July 30, 2021, 12:28:12 PM
When I got to know of bitcoin some years ago , converting bitcoin was a big issue and if you did manage conversation rates were too high.
Now that crypto is known almost every where, converting btc to fiat is super easy and in some countries you have the option of using btc cards and the future should see the same innovation to continue.
Now that crypto is known almost every where, converting btc to fiat is super easy and in some countries you have the option of using btc cards and the future should see the same innovation to continue.
July 30, 2021, 05:34:55 AM
Holding your income in BTC was a wise decision and profitable in a long term. Because we all know that it's value grow and grows.
But banks will always try to ban cryptocurrencies if they can't get any from it and they can't also control it. If they found a good solution on that , like a solution that both party will have benefit it is possible that they will not ban cryptocurrency and support it too. But for now I am not worried, because there are other ways to convert crypto to fiat.
it's true as you said, if we save in the bank, of course we can't get a profit, but if we save it in bitcoin, we make it an asset for sure we will benefit in the future, we just need patience to get more profits because we already know bitcoin is safe and reliable, only certain people don't like bitcoin.. But banks will always try to ban cryptocurrencies if they can't get any from it and they can't also control it. If they found a good solution on that , like a solution that both party will have benefit it is possible that they will not ban cryptocurrency and support it too. But for now I am not worried, because there are other ways to convert crypto to fiat.
July 30, 2021, 04:16:23 AM
I'm currently receiving some of my income in BTC, and I'm just holding it because I expect it will go up long term and so it is my savings.
But sometimes I'd like to be able to turn it into fiat for daily expenses. I can't yet pay my rent or buy my groceries with BTC (hopefully one day! but not today and not in the near future).
With banks in some countries blocking transactions from known exchanges is there a worry that one day it will become impractical to turn the BTC into fiat? Either just very hard to do, maybe street-corner-deals or at risk of getting your bank accounts frozen?
Do people think about this and have plans to work around these kinds of banking barriers? Or are there ways around it already but I'm not aware?
I just found out that banks prohibit transactions from exchanges in certain countries, but exchanges provide P2P to solve this problem so that all crypto communities from rule-treating countries don't have to worry about bank withdrawals. I advise you to hold bitcoin in the long term because the market conditions will soon be bullish this year.But sometimes I'd like to be able to turn it into fiat for daily expenses. I can't yet pay my rent or buy my groceries with BTC (hopefully one day! but not today and not in the near future).
With banks in some countries blocking transactions from known exchanges is there a worry that one day it will become impractical to turn the BTC into fiat? Either just very hard to do, maybe street-corner-deals or at risk of getting your bank accounts frozen?
Do people think about this and have plans to work around these kinds of banking barriers? Or are there ways around it already but I'm not aware?
I agree there is always a way to convert Bitcoin to fiat, although there are still some countries that do prohibit cryptocurrency transactions. No need
to worry that the crypto community is now everywhere, they can help us provide information on safe crypto transactions. Even in this forum we can
find many threads discussing how to do crypto transactions in countries that do not accept crypto. One of them is by using the P2P feature on
several platforms, so don't ever hesitate to buy Bitcoin, because as we know the price of Bitcoin has increased every year. Then we can generate large
profits from holding Bitcoin in the long term.
July 30, 2021, 04:08:04 AM
All online banks and profitable websites are built on fraud and scam mentality
And their childish mentality makes them block your account for stupid reasons
And the problem increases with the arrival of the new generation of children age and mentality
Bitcoin transaction fees are high
you can not install bitcoin wallet software huge size of blockchain for this real decentralization idea.
you need ........ this online bank .......... Bitcoin Failed Currency projet as bank ........
also those banks are failed projet someone accept them and other not accept them
now they are hiding behind cryptocurrencies because that dollar is not real in their banks it is as an altcoin
They don't say how much of that dollar they have in their banks
also the Bitcoin transaction fees in those banks are two times high or more
trading and banks fees are high, by what right do they take those fees from you in their websites ?
I don't know
it is unbearable
it is a kind of control
it is the greedy
but ...
What is the source of your money ( In the presence of a policeman or in a court ) ?
And their childish mentality makes them block your account for stupid reasons
And the problem increases with the arrival of the new generation of children age and mentality
Bitcoin transaction fees are high
you can not install bitcoin wallet software huge size of blockchain for this real decentralization idea.
you need ........ this online bank .......... Bitcoin Failed Currency projet as bank ........
also those banks are failed projet someone accept them and other not accept them
now they are hiding behind cryptocurrencies because that dollar is not real in their banks it is as an altcoin
They don't say how much of that dollar they have in their banks
also the Bitcoin transaction fees in those banks are two times high or more
trading and banks fees are high, by what right do they take those fees from you in their websites ?
I don't know
it is unbearable
it is a kind of control
it is the greedy
but ...
What is the source of your money ( In the presence of a policeman or in a court ) ?
July 30, 2021, 03:50:45 AM
I'm currently receiving some of my income in BTC, and I'm just holding it because I expect it will go up long term and so it is my savings.
But sometimes I'd like to be able to turn it into fiat for daily expenses. I can't yet pay my rent or buy my groceries with BTC (hopefully one day! but not today and not in the near future).
With banks in some countries blocking transactions from known exchanges is there a worry that one day it will become impractical to turn the BTC into fiat? Either just very hard to do, maybe street-corner-deals or at risk of getting your bank accounts frozen?
Do people think about this and have plans to work around these kinds of banking barriers? Or are there ways around it already but I'm not aware?
I just found out that banks prohibit transactions from exchanges in certain countries, but exchanges provide P2P to solve this problem so that all crypto communities from rule-treating countries don't have to worry about bank withdrawals. I advise you to hold bitcoin in the long term because the market conditions will soon be bullish this year. But sometimes I'd like to be able to turn it into fiat for daily expenses. I can't yet pay my rent or buy my groceries with BTC (hopefully one day! but not today and not in the near future).
With banks in some countries blocking transactions from known exchanges is there a worry that one day it will become impractical to turn the BTC into fiat? Either just very hard to do, maybe street-corner-deals or at risk of getting your bank accounts frozen?
Do people think about this and have plans to work around these kinds of banking barriers? Or are there ways around it already but I'm not aware?
July 30, 2021, 03:27:12 AM
It only gets better with time. The future is advanced than we imagine (IMO). Bitcoin will still be used by many, except for the fact that after its creation, so many other cryptocurrencies have been created and this has began to push Bitcoin away as an actual means of payment. In fact, the more new cryptocurrencies are created, the more bitcoin is whipped. But crypto will be more adopted in the future. That remains constant.
There are no excessive concerns for now and some future time, Bitoin is clearly used by many people because it is indeed very profitable. Everything is profitable, it will be the target always to be sought and can start fading if there are others and renewable than Bitcoin, but until now no one has equal or want to be able to replace. Right, the fact is a lot of new growing coins that enliven the Crypto which indicates that this future will always be bright and difficult to replace. July 29, 2021, 03:10:11 AM
I'm currently receiving some of my income in BTC, and I'm just holding it because I expect it will go up long term and so it is my savings.
But sometimes I'd like to be able to turn it into fiat for daily expenses. I can't yet pay my rent or buy my groceries with BTC (hopefully one day! but not today and not in the near future).
With banks in some countries blocking transactions from known exchanges is there a worry that one day it will become impractical to turn the BTC into fiat? Either just very hard to do, maybe street-corner-deals or at risk of getting your bank accounts frozen?
Do people think about this and have plans to work around these kinds of banking barriers? Or are there ways around it already but I'm not aware?
But sometimes I'd like to be able to turn it into fiat for daily expenses. I can't yet pay my rent or buy my groceries with BTC (hopefully one day! but not today and not in the near future).
With banks in some countries blocking transactions from known exchanges is there a worry that one day it will become impractical to turn the BTC into fiat? Either just very hard to do, maybe street-corner-deals or at risk of getting your bank accounts frozen?
Do people think about this and have plans to work around these kinds of banking barriers? Or are there ways around it already but I'm not aware?
Just like Microstrategy figured out when other companies figure out they are receiving toilet paper for valued goods and services. They will demand Bitcoin. People will be forced to used BTC to buy fuel, oil, wheat, sugar, electricity, chicken, bananas and ice cream.
July 29, 2021, 01:22:13 AM
Holding your income in BTC was a wise decision and profitable in a long term. Because we all know that it's value grow and grows.
But banks will always try to ban cryptocurrencies if they can't get any from it and they can't also control it. If they found a good solution on that , like a solution that both party will have benefit it is possible that they will not ban cryptocurrency and support it too. But for now I am not worried, because there are other ways to convert crypto to fiat.
But banks will always try to ban cryptocurrencies if they can't get any from it and they can't also control it. If they found a good solution on that , like a solution that both party will have benefit it is possible that they will not ban cryptocurrency and support it too. But for now I am not worried, because there are other ways to convert crypto to fiat.
July 29, 2021, 12:56:43 AM
I'm currently receiving some of my income in BTC, and I'm just holding it because I expect it will go up long term and so it is my savings.
But sometimes I'd like to be able to turn it into fiat for daily expenses. I can't yet pay my rent or buy my groceries with BTC (hopefully one day! but not today and not in the near future).
With banks in some countries blocking transactions from known exchanges is there a worry that one day it will become impractical to turn the BTC into fiat? Either just very hard to do, maybe street-corner-deals or at risk of getting your bank accounts frozen?
Do people think about this and have plans to work around these kinds of banking barriers? Or are there ways around it already but I'm not aware?
nope, countries even impractical yet there are people that willing to buy and sell bitcoin and crypto even from those countries that has strict rules.\so no because will be open for public forever even how government interfere . But sometimes I'd like to be able to turn it into fiat for daily expenses. I can't yet pay my rent or buy my groceries with BTC (hopefully one day! but not today and not in the near future).
With banks in some countries blocking transactions from known exchanges is there a worry that one day it will become impractical to turn the BTC into fiat? Either just very hard to do, maybe street-corner-deals or at risk of getting your bank accounts frozen?
Do people think about this and have plans to work around these kinds of banking barriers? Or are there ways around it already but I'm not aware?
July 29, 2021, 12:32:10 AM
As long as I can buy gold with BTC in a country somewhere in the world, I'm not afraid. Anyway I don't think that the western countries could make such laws anymore...
July 28, 2021, 11:08:07 PM
I am not worried about government ban because we have already some options where we can buy and sell bitcoin and other cryptocurrency without needing the permission of third parties like government and banks and that particular option can't be ban by government.
July 28, 2021, 09:56:23 PM
First, the tax law must be changed. Bitcoin needs to be recognized as a currency and have these tax advantages. This may happen. Bitcoin can coexist with the US dollar like a foreign currency, but I think we are still a long way from finding such a goal.
Lots of lobbying, political donations, and Bitcoin political action committees.
"Fiat currency" is a government regulation that can use Bitcoin to pay debts.
Lots of lobbying, political donations, and Bitcoin political action committees.
"Fiat currency" is a government regulation that can use Bitcoin to pay debts.
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