Quote
Why do we keep converting bitcoin back to dollars ?
Because bitcoin on early stage of adoption.
Topic: Why do we keep converting bitcoin back to dollars ? (Read 4361 times)
Because bitcoin is not totally accepted in the whole world. Although bitcoin is pretty convenient as payment online, not all places in the Earth accept bitcoin so the only way is to convert bitcoin into dollars or other fiat currency. Conversion could stop if it becomes legally accepted everywhere.
Bitcoin is not accepted in some countries because nobody has set about Bitcoin. Bitcoin prices are also very volatile, this is what causes Bitcoin denied here and there. Whereas we know all Bitcoin is very profitable. There have been so many successful people since knowing Bitcoin. Bitcoin deserves to be preserved. 
It's almost like we don't value it for itself, but what it's worth in "real" money.
Since Bitcoin isn't widely accepted to a lot of stores unlike dollars or any other fiat, we tend to convert it so we can buy our own necessities. It doesn't mean we don't value it but rather, as for me, we just don't have a choice and we need it. Also, it is much more stable to use because the price tends to be fixed since most of the products are still tied to fiat rather than in bitcoins. 
It's simple - we have no way to spend bitcoins to pay bills, etc. So we have to convert bitcoin to Fiat.
Quote
Why do we keep converting bitcoin back to dollars ?
Just install SYSCOIN.
Because bitcoin is not totally accepted in the whole world. Although bitcoin is pretty convenient as payment online, not all places in the Earth accept bitcoin so the only way is to convert bitcoin into dollars or other fiat currency. Conversion could stop if it becomes legally accepted everywhere.
Because bitcoin is still considered as an asset that's why it needs to be converted to dollars to have a value. Just like our houses and other properties, it doesn't have its own value and need to have an equivalent value in fiat money.
To your question, the main reason of converting that until now not all companies are accepted for payment in bitcoins, so if I want to buy clothes or a drink, I need to exchange bitcoin for a dollar.
It's almost like we don't value it for itself, but what it's worth in "real" money.
Because people use bitcoin as an investment, people invest to get more legal tender. Bitcoin, as a cryptocurrency, cannot be widely used as a form of payment in the real world, so people need to convert it into dollars. It's almost like we don't value it for itself, but what it's worth in "real" money.
This practice will continue at least for some years now but it will definitely expire because a lot institutions would adopt cryptocurrency or bitcoin as a means of bills settlement by then. When this happens, you would agree with me that use for fiat currency would have reduced drastically. 
It's almost like we don't value it for itself, but what it's worth in "real" money.
because at the moment shopping and transactions using bitcoin are still limited so people are still continuing to exchange bitcoin to dollar for daily needs transactions. Because we bitcoins today are assets, still far from being a currency. Most of our commodities today will still be traded will dollars, not with bitcoins.
For me the reason why i keep converting bitcoin because i want to have money for my needs because in my country cash is needed to buy a things and etc.and this is the reason why i join in bitcoin to fulfil my dreams and i think only bitcoin can help me to have an income and it has a big profit that can make us want to invest in it.and converting is needed for changing bitcoin into cash.
Bitcoin has become a hot commodity among speculators. High volatility and unpredictable. Bitcoin very valuable.
Such a currency bitcoin price growth every year. Make a people whos considered there optimist to exploring how to produce and earning bitcoin more and more.
Bitcoin price growth more than world expected, realize that proved bitcoin is the best investment until now. Didnt denied it.
Bitcoin more worthy than a money for me (bitcoin has a potencial growing price). So many benefit. Easy transactions, instant payment.
Such a currency bitcoin price growth every year. Make a people whos considered there optimist to exploring how to produce and earning bitcoin more and more.
Bitcoin price growth more than world expected, realize that proved bitcoin is the best investment until now. Didnt denied it.
Bitcoin more worthy than a money for me (bitcoin has a potencial growing price). So many benefit. Easy transactions, instant payment.
Because we bitcoins today are assets, still far from being a currency. Most of our commodities today will still be traded will dollars, not with bitcoins.
I convert dollars into Bitcoin more often. Bitcoin appreciates but dollars depreciate. Why would you even want a depreciating asset?
Probably the reason why people are converting back into dollars is to buy some stuff that doesn't accept Bitcoin yet.
Probably the reason why people are converting back into dollars is to buy some stuff that doesn't accept Bitcoin yet.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
I only know that they want to make money for converting bitcoin back to dollars and if they can make a big different money from the first time they buy then they are profit. besides that, I think it is better to carry dollars or another fiat because we still use fiat to buy something in our real life and until the time for us to use bitcoin to buy something, we still convert bitcoin to fiat and we still want to make more money from doing this.
Bitcoin users have their own reasons why they convert their coins into dollar or any kind of fiat. It might be for another investment or they need some cash. I only convert some bitcoin for emergency purposes or when I ran out of available cash but it doesn't mean that I didn't value it. Bitcoin is a virtual currency that created mainly for payment purposes so anytime we can use it to buy products that we need or pay a bill and at the same time we can also use it in investment or in trading.
People have various reasons foe converting BTC do fiat, lots of stores still don't accept BTC as a form of payment and if one needs to shop and they don't have cash, they just have to convert. it doesn't mean that such people don't value BTC
That's because fiat is still the major means to pay for goods and services. It's still the very currency you will use to buy vegetables, spices, and meat in the wet market or coffee in vending machines.
So as to be liquid. If you need money to meet your immediate needs and you have some Bitcoin, then, you have no option than to convert your BTC to USD. This is one of the reasons why I convert Bitcoin to dollars.
Jump to: