Topic: Why do we keep converting bitcoin back to dollars ? - page 9. (Read 4361 times)
To be honest people are converting their Bitcoin to the US Dollar or any Fiat currency in that matter because as of right now or forever will be they are still the most widely accepted currency out their. It does not mean just by converting Bitcoin to Fiat currency we don't value it, we just know that Fiat currency has the most function out there. I would rather convert my Bitcoin to Fiat currency so that I wouldn't incur transaction fees every time I pay Bitcoin as a mode of payment.
It's almost like we don't value it for itself, but what it's worth in "real" money.
people have a different needs in terms of expenses sometimes people need to exchange their bitcoin because need to use for personal purposes and sometimes if have an extra money people buy bitcoin for the future investment, in the situation bitcoin exchange into fiat dollars because some country can't accept payment directly into the store as bitcoin payment.
People should use Bitcoin for what it is really but at the moment we can't because it's not accepted everywhere meaning we need to convert to dollars to actually get by in life.
Maybe one reason why they keep converting bitcoin into dollars is because they want to buy something and that thing can't buy with bitcoin. That's the reason I know why they keep converting. One thing too I think is because they want to feel the money they have that's why they are converting digital money into physical money.
It's almost like we don't value it for itself, but what it's worth in "real" money.
There are actually lots of reasons why we keep on converting Bitcoins into fiat money depending on one's purpose. Some convert Bitcoins into fiat money because they want to pay bills and buy goods which is quite good since buying goods with Bitcoins is not that good now due to high transaction fees. Some converted Bitcoin into fiat money in preparation for an investment into altcoin if ever the price drops. Some converted their Bitcoins into fiat because they have plans to invest in a business they want in their local community or maybe online. In my case I converted all my altcoins and Bitcoins into fiat money due to an emergency that had happened last October first. Selling Bitcoins may affect the price in the market most especially if it is massive or panic selling. But I know that the buying and selling cycle will never end due to the growing community.
it would be a smartar move if we start converting all our dollars into bitcoin...
It is just because Bitcoin is not accepted everywhere so we have to convert it into dollars or some other acceptable currency in order to spend it.
exchange bitcoin to fiat that means utilize bitcoin to gain profit and enjoy the benefits we get from bitcoin
It's almost like we don't value it for itself, but what it's worth in "real" money.
Because it is way easier to ascertain the true value of bitcoin when it is compared to a major currency and in this point, the US dollars. until bitcoin is accepted as the mode of payment for everything in the world, we will keep converting it into the US Dollars to know its current worth. 
That's because we still have to live in this financial system that exists today since it revolves around everything we do.
You'll likely always be tied to this system in one way or another, but that doesn't mean that you should convert your Bitcoin holdings to fiat. You can perfectly have your regular fiat income to live off, and have Bitcoin purely aside as alternative currency/asset or whatever you like to name it. I do exactly that. It's quite some time ago where I actually cashed out Bitcoin for fiat, and as we speak, I am not planning to cash out anything anymore in the forthcoming years. My fiat income gets the bills paid, feeds me, allows me to buy things if I need it, and still I have money left that goes straight to my savings account. I chose to seperate fiat from Bitcoin because I am not a fiat centric person, and I believe that eventually Bitcoin will gain even more importance in the financial world. It's an escape from this on debt based system.
It's almost like we don't value it for itself, but what it's worth in "real" money.
Isn't that obvious that we need real cash now a days. Most of the traders are holding their coins for a very long time and they will only exchange into real money if there is an emergency or they are using bitcoin to sustain their daily needs.
Maybe I'm wrong, but that's what I see.
It's almost like we don't value it for itself, but what it's worth in "real" money.
Isn't that obvious that we need real cash now a days. Most of the traders are holding their coins for a very long time and they will only exchange into real money if there is an emergency or they are using bitcoin to sustain their daily needs.
It's a controversial subject, If people do sell their Bitcoins for USD it's not necessarily because they don't believe and value the coin. It's usually because they need money to buy things because Bitcoin isn't accpeted everywhere yet so they buy it when it's rather low and wait for it to increase in price and then sell it yet, it's usually a small piece when it comes to everyday people But when it comes to Investors they usually do the same but in mass transactions, Buy low sell high. But when a Hardfork approaches they usually do keep their coins in order to recieve what they might seem to call "Free tokens" and they do that because they do value the coin.
So it really does depends on who you are talking about and when.
So it really does depends on who you are talking about and when.
because we can not spend bitcoins everywhere and we can spend dollars everywhere that is why we convert bitcoins to dollars so we can spend them where ever we want maybe in the future when you can pay everywhere with bitcoins people will not convert anymore.
It's almost like we don't value it for itself, but what it's worth in "real" money.
Because not all establishments are accepting bitcoins as a payment so we cannot use bitcoins in buying food on our favorite fast food stores because there are limited branches of stores who are accepting it so in order to spend oir bitcoins we need to convert it into real money. That is the reason why we are all here, to gain money if bitcoins can be used everywhere we wouldn't need to convert it though. And some reasons are the value of it, some people are afraid to loss money so everytime that they received bitcoins they will convert it i to cash before the price falls
It's almost like we don't value it for itself, but what it's worth in "real" money.
That's because you need to have some Money with you in real life and keeping it in bitcoin forever will only work if you super damn rich and have a well set job and no financial troubles no matter what. So one day or the other you will need to cash out your crypto currency. We need to eat, drink, sleep and have fun on top of all that.
Eating, drinking, having nice home cost money, bills are coming every month. One day or another we need to cash out our bitcoins, most of us probably, because we can't do much with bitcoins directly, no one in my country accept it. I'm saying that for years, just rich people have that privilege to save money, bitcoins or anything else valuable. I'm not rich and from time to time I need extra money, I can cash out bitcoins or borrow money from others, I choose to spend what is mine.
It's almost like we don't value it for itself, but what it's worth in "real" money.
Well, we are not even close to have BTC as daily basis currency, it does have an intrinsic value but for the day by day you need money, cash and so far you can use bitcoin for few shops (compared to the totality of the shops around the globe).
For now this is the only way to go in the future maybe this will change, but i doubt we are going to see BTC as a form of payment in the shops like debit card, credit card or cash.
It's almost like we don't value it for itself, but what it's worth in "real" money.
That's because you need to have some Money with you in real life and keeping it in bitcoin forever will only work if you super damn rich and have a well set job and no financial troubles no matter what. So one day or the other you will need to cash out your crypto currency. It's almost like we don't value it for itself, but what it's worth in "real" money.
The usage of bitcoin is unique, therefore every person has their own use for it. Whether for extra-income or investment, people covert it into dollars to see its value in the real world, especially when buying products or asking for services. To add, converting it to dollar gives its value and usage. When they see that bitcoin prices are starting to increase, they tend to cash-out SOME of their investments for their personal use.
Personally, I convert my bitcoins to fiat for the purpose of financing my university expenses throughout the term. It is very expensive nowadays to provide for your own supplies and books, thus making bitcoin my alternative payment makes my life a little bit easier. Not to mention, this also helps my family in recovering their expenses every month by me, buying for my own things.
Why are exchange sites using BTC / USD? USD is the standard currency currently circulated worldwide. Everyone transfer bitcoin back to dollars for more convenient payment in everyday life because you can't buy anything at anywhere near you by bitcoin(not to mention the transaction fee when buying something small value).
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