Topic: Why do we keep converting bitcoin back to dollars ? - page 6. (Read 4361 times)
I think the main reason for that is bitcoin don't have a constant value rate which is why other convert it to dollar when the bitcoin it high rate but when its not the put it back to bitcoin and wait for some changes soon its like a wallet that you save your money on it and soon bitcoin rises its value, you earn money for just transferring it on BTC.
If you are OK with paying taxes on your profits from Bitcoin sales, then please use Localbitcoins and sell your Bitcoins in exchange for fiat cash in your bank account. On the other hand, if you don't want to pay taxes, then get yourself a pre-paid Bitcoin debit card (such as Bitplastic or WageCan) and withdraw fiat cash from any of the ATMs.
Converting bitcoin to dollars are for its safety. Since bitcoin is connected with computer and internet there is a chance for losing it; may be someone can get the chance to steal .There are chances for losing our bitcoins, the way for this is clear that the thief need to know the private key he needs only his software keep running,but if it is converted to dollars there will be no chance of losing easily.So we keep converting bitcoin back to dollars.
It's almost like we don't value it for itself, but what it's worth in "real" money.
It's easier to see the figures in dollars. This has to be done so that bitcoins will have a price to compare to. It' hard to value a commodity or a currency without a reference point i.e. a dollar. It'll be hard to actually know how much a bitcoin costa if we used Japanese Yen. It'll be in thr millions figure. Dollars would be a feasible choice at this point.
In my opinion, Bitcoin can't use for all case. Therefore, they need transfer it back to dollars to use.
Yes that's right, not everything can be done with bitcoin. In my country bitcoin is well known to the public but has not been used as a legal payment tool, therefore I must first convert bitcoin to fiat. this does not mean I reduce or do not appreciate bitcoin, but this is a necessity.
It's almost like we don't value it for itself, but what it's worth in "real" money.
It's not like we don't value it. Atm, we can't purchase everything with bitcoin or any other digital currencies. That's why we have to convert it to something that it can buy what we need. Time will come that we will not have to convert it back to any fiat currency.
For example, you want to buy a hamburger at the store, the fastest way is payments directly. You will waste a lot of time in bitcoin if your transaction is pending for too long and still has no confirmations. So, we keep converting bitcoin back to dollars.
It's almost like we don't value it for itself, but what it's worth in "real" money.
Because some people believe that rhis is the end of bitcoin which is wrong desicion i know that bitcoin will surpass rhis situation and i know that this is the part of the plan so some rich man buy bitcoin if the bitcoin goes down again. 
It's almost like we don't value it for itself, but what it's worth in "real" money.
No, that's not the reason. Bitcoin is still in early phase of acceptance, so the merchants who know and accept bitcoin is not much. But I am sure that in the future we do not need to convert bitcoin into fiat to purchasing goods.
I convert it back to cash when the bitcoin value decreaaes. Also if I really need to pay bills. As of the moment, stores and services can be paid only with cash so thats same reason I think the people around here has too.
People really have to convert some of their savings in bitcoin back into dollars, because DIRECT payment in bitcoins in some situations is unprofitable because of the long time of the transaction, and partly because of the fact that you can buy directly the goods or services for bitcoin rare cases. Therefore, we must first again bitcoin translate into dollars, and then make the necessary payments.
it all depends on you and if you can keep bitcoin for a long time it is very good and in bitcoin development it can increase in few minutes and back again if you want to convert it into dollars it's all because of our need!!
In my opinion, Bitcoin can't use for all case. Therefore, they need transfer it back to dollars to use.
I think people who are selling bitcoin at its peek are wise. Because they later buy more bitcoin when its value falls. Eventhough we sell cash out bitcoin in to fiat currencies , it' s wise to keep buying
It's almost like we don't value it for itself, but what it's worth in "real" money.
To be honest many people converting their bitcoin to usd or their currency but for me? I dont want to convert my btc in our curency because i know that it will bumo again i have a faith that bitcoin eill go rise again just keep believing.
To be fair it is not just bitcoin everything is being converted to dollars, gold, stocks, commodities etc. As an ivestor i personally think that bitcoin is an asset that can be liquidated anytime i want. Lets be honest not everyone accepts bitcoin or altcoins until every store in the world accepts bitcoin people will convert it to their local currency.
Because the dollar is still the leading position in the currency world, bitcoin has not been widely applied in real life.
I think a lot of people are turning bitcoin into dollars because Dollar money has long been a legitimate means of payment in everyday life, and as the official currency issued by the Bank, and the exchange rate or so-called foreign exchange rates vary, depending on the level of domestic inflation, interest rate payments, foreign exchange reserves, import-export and how much demand for the currency. the dollar is also a high currency exchange rate. 
It's almost like we don't value it for itself, but what it's worth in "real" money.
We do keeping convert bitcoin to dollar since some people do short term trading that worth if we buy and sell bitcoin in short time.
And some people worry if they hold bitcoin for any longer, bitcoin price become lower.
It's almost like we don't value it for itself, but what it's worth in "real" money.
I think we keep converting it to dollars because that is the only way we know its value or how much it is worth, and not just because we do not value Bitcoins for itself. Just like all other currencies, I think it needs to be converted to other major currencies for comparison and contrast to know how much our currencies are worth in the world market and to assess how well or badly it is currently doing.
Because the dollar is still the leading position in the currency world, bitcoin has not been widely applied in real life.
That is not entirely true. I do realize that holding a physical fiat currency is far more safer and makes us feel better when compared to digital only currencies like bitcoin, but bitcoin is being used more widely these days in real life(Example: Grocery stores, Booking tickets offline etc). With time, more and more offline stores will embrace bitcoin once they understand its value. Jump to: