Topic: Why do we keep converting bitcoin back to dollars ? - page 2. (Read 4361 times)
Considering that bitcoin is a digital currency, many retailers don't yet accept the bitcoin as payment method. While there are merchants accepts bitcoin, but none of the goods are priced in bitcoin. Maybe in the near future, when the bitcoin could become the global currency.
Because having a good amount of bitcoin can change amount of a true money. 
The reasons for further converting the crypto currency into the dollar are still quite a lot. First of all, there are not so many retail outlets and enterprises that directly accept crypto currency for payment. Second, the need for running costs. Because people have to do it. Thirdly, some holders of crypto-currencies are already really afraid of state regulation of the crypto-currency and introduction of taxation of crypto-currencies. Therefore, periodically they take their profits to fiat.
Bitcoin into cash is the only way to use it and it's the same with my country. Beside some traders know that Bitcoin price has to be at the highest peak so they decided to sell or exchange it for cash then buy it back at lower price.
It is not necessary to convert btc into dollars but some people need money or for their convinience convert it into dollars.
For me, it is because dollars in itself is a worldwide accepted currency. I think converting it to dallars is a way for you to make use of the value of bitcoin.
There are also ways to convert your bitcoin to a currency of your country. Like for us, you can convert it to Peso.
There are also ways to convert your bitcoin to a currency of your country. Like for us, you can convert it to Peso.
It's almost like we don't value it for itself, but what it's worth in "real" money.
Because that is the purpose why we are investing in Bitcoin. You can actually use the real value of Bitcoin if you convert it in cash or dollar. It will give you profit and that profit may be used to buy things that you need in your daily life.
We need to convert our bitcoins if we want to use it because bitcoin is rarely accepted as a payment so we need to convert them to buy anything.And mostly people use bitcoin as an asset so they are converting their bitcoins when they reached their goal price.
Because Bitcoin has not been received in every country then Bitcoin must be redeemed in dollars or currency of the country.
I think people are used up to using their own country's currency for transactions. It is where they are comfortable. Some converts it to dollars since some businesses are not accepting Bitcoin.
It's almost like we don't value it for itself, but what it's worth in "real" money.
Of course its necessary..how the heck can you buy products from the real world if you use bitcoin for trading?
that is why we convert it to fiat or whatever the currency you use in your country. Its not that we dont value bitcoin,but its just how the world works.
We must have to use SYSCOIN for trading goods for Bitcoin
Converting back bitcoin to dollars may be because they are worried if bitcoin will fluctuate in lower price they're just playing safe.
Aside from that, dollar is still the king wherein almost all merchants accepts dollar. But maybe in the future when bitcoin is almost accepted by merchants, that is the time that we don't need to convert it back to dollar, if we can directly transact with bitcoin. Also, not only dollars, now several country has exchanges where you can convert your bitcoin directly to their local currency.
Converting back bitcoin to dollars may be because they are worried if bitcoin will fluctuate in lower price they're just playing safe.
It's almost like we don't value it for itself, but what it's worth in "real" money.
First thing you should know is that, if cryptocurrency is already legalized in your country or not because if its illegal then you cannot use it, there are exchangers out there where you can convert your coins into fiat if the people of your country is allowed to use cryptocurrency.
When you have Bitcoin in your wallet it is okay to transfer it back to dollar when you need financial support just to keep on mind that when you convert them all now you are at your los because the price of BTC is low today unlike before.
We need to convert our bitcoins if we want to use it because bitcoin is rarely accepted as a payment so we need to convert them to buy anything.And mostly people use bitcoin as an asset so they are converting their bitcoins when they reached their goal price.
It's almost like we don't value it for itself, but what it's worth in "real" money.
It's just because the use of Bitcoin is still "limited". Limited in terms of what we can buy and pay from it. Bitcoin cannot be used to pay daily house rent or buy a piece of cigarrete. This depends on the Location of the user.Like for example there are countries that already accepting Bitcoin as payment method.
It depends on the needs, If they want to use their btc right away, they have to convert them to usd to cover their expenses. Some wants to convert them just to get the highest possible amount they can get in those weeks and use it right away. We surely value it and thats why we convert it for us to use it because some doesnt accept bitcoin as payments. If you want to earn big, you invest your time into long term investment which is for many, is far too long which is bad for them cuz they cant pay their everyday expenses. e.i electricity bills, waterbills, foods and clothes etc.
It's almost like we don't value it for itself, but what it's worth in "real" money.
The main reason for converting back the bitcoin into a money is to be able to use it. Bitcoin cannot buy everything just like our daily necessities. So people tend to convert it back to buy those items.
Everybody wants liquid money in case of an emergency or a person wants to buy something. Everything can't be purchased with bitcoin so when someone needs cash he sells his Bitcoin.
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