Bitcoin Forum

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?

It is good to hear that you are holding your Bitcoin for the future. That is the right strategy as the USD value of Bitcoin will increase substantially in the coming years.

If in your country Banks are blocking cryptocurrency exchange transaction then you can always use the P2P service as most exchanges do provide this service. For example - In India when the central bank had banned all cryptocurrency transactions, local exchanges initiated the P2P service until the ban was in place. International exchanges like Binance do provide P2P service, you can also check localbitcoin to find out whether their service is available in your country.

Banks will always do what is in their best interest, and we have already seen that some fully support accounts that trade cryptocurrencies, while others are strongly against it and close any account they find to be related to crypto. However, you do not need to rely solely on the support of banks, because as already mentioned, there will always be p2p, crypto ATMs and specialized physical branches that will deal with crypto exchange operations.

In addition, if we believe that more and more businesses will accept Bitcoin as a means of payment in the future, then there may be no need to convert your BTC to fiat, you will simply pay for goods or services with BTC :)

If will only be impractical if banks around the world will not accept btc in the future. But I highly doubt that this will be the case in the next 5 years. Bitcoin is coming off age, and we have seen countries adopting and welcoming it.

I got lucky though that we have a local exchange that convert our btc->local fiat. And even allow us to pay for our monthly dues like electricity, water, internet and phone bills.

I also think that P2P is probably one of the best methods that you can rely on in the future. Especially if your country is not that supportive of Bitcoin, with little to no ATMs, exchanges, etc. But you might need to pay some premium though, fees and etc. That should be expected. If your fiat is other than USD, EURO, and other major currencies, it might get even harder, but not impossible.

you have done something very right that what you earn in bitcoin is future saving like investment only. because it is certain that what you earn with bitcoin will continue to increase even though it is currently in a very deep correction.

indeed, if there is no one in your area that can make transactions using bitcoin, obviously you have to be wise, then you have to change it to fiat so you can carry out the activities you are looking for. it's not a problem as long as you can manage your use of bitcoin so that it can still be part of an investment and not exchanged for all of fiat.

actually there is nothing to worry about bitcoin, because banks and bitcoin have different systems and there is no attachment between them. bitcoin stands alone as well as banks, and you can exchange bitcoins anytime and anywhere because there are many facilities available to exchange kefiat.

The only way this would be possible is if trading in cryptocurrencies was illegal. since Banks, and exchanges might not want to operate in cryptocurrencies to fiat, but peer to peer will always be an option. Then, the banks would have difficulty identifying cryptocurrency transactions, at least with any sort of accuracy so they likely wouldn't put much effort into it at all.

Why do you think it would be harder than other currencies to exchange? I would also think that fees would generally be lower, especially in a market where Bitcoin to fiat is hard to do, since people will want to actually encourage it, rather than encouraging people to leave cryptocurrencies. Plus, when it comes down to P2P you usually see very competitive rates as its people competing rather than large well documented, and registered companies.

For as long as Bitcoin remains precious in the future, it wouldn't be much of a problem to convert it to fiat. If the future would not be so good to Bitcoin that exchanges are not anymore allowed, I am more than sure P2P transactions would become mainstream, even if underground, as ironic as it may sound. The most important thing is that there is demand.

But to be honest I think rather than becoming hard to spend, it will be easier for Bitcoin to be spent like an ordinary money in the future. I am actually looking forward to the day when goods and services are priced in both Bitcoin and fiat and other cryptocurrencies.

I would agree to some extent. The only issues we face is the stigma involved when accepting Bitcoin. However, companies like Paypal have actually helped towards changing that stigma of Bitcoin or any other cryptocurrency for that matter, being labelled as criminal money or a bubble.

Although, Tesla did definitely hurt the perception that the general public have on cryptocurrencies recently, and now Bitcoin has a stigma that its not environmentally friendly, when several fiat based industries aren't either. Although, it doesn't matter how accurate it is, its what people think that matters. So, Bitcoin's biggest obstacle will always be convincing people that its better than the current systems in place, something which I'm not entirely optimistic will be able to do.

I guess this won't be a big problem in the future. My impression is that this stigma has already subsided. Thanks in part to PayPal, but thanks also to the banks, influential personalities, governments, popular companies, huge traditional exchange platforms, and many others that make Bitcoin just another rising fintech product rather than an underground currency.


This to me is the real problem. On the ground, to my neighbor, for example, it seems there is no reason why he should shift to the use of Bitcoin. Fiat is convenient enough. There seems to be no compelling factor to leave it for something else which appears more confusing than the plain and simple fiat. And who really cares about the current fiat system? Not my neighbor. He doesn't know a thing about it.

we believe that bitcoin will be fine, and the price of bitcoin in the coming year will definitely rise again, if state banks no longer accept bitcoin to fiat exchanges, I think everyone on this forum is not worried, because there are many other ways we can do it, like p2p,, I don't think this will happen, because the influence of bitcoin is very strong..

I am sure you will have a chance to pay your rent or buy your groceries, but you need to work hard to have or earn more bitcoin. If your banks allow you to convert your bitcoin, you do not have to worry because you can convert it into fiat. But I am sure that people who can not convert their bitcoin to fiat will find a way and use P2P to sell or buy their bitcoin directly.

So far, Binance helps people to convert their bitcoin to fiat and many people already use that service. Besides Binance, you can search for other sources that will help you to convert bitcoin to fiat.

many countries are against bitcoin and some even want to make bitcoin die, and don't want to accept the exchange of bitcoin into fiat currency, but there are still many countries that secretly collect bitcoin and are still open to accepting bitcoin exchange into fiat currency, but if all countries and state banks no longer accept bitcoin to fiat exchange, I'm sure people are not afraid, because there are still many ways to do the exchange..

Saving bitcoin for the future is definitely a great idea and a realistic plan. If you're afraid that in the future if the bank or government bans Bitcoin, how do you convert it into a conventional currency? Then you must consider the present time. At present, governments and banks in most countries have banned and restricted the use of other cryptocurrencies, including Bitcoin. However, the popularity of Bitcoin is growing day by day and people are becoming more and more enthusiastic about using it. You can exchange your stored bitcoin into currency through p2p. Moreover, different countries and large corporations are now slowly deciding to complete various transactions through Bitcoin, so don't worry about it, think about the future and become enthusiastic about saving through Bitcoin.

There is good chance of something like this happening in future if governments implement more draconian measures and restrictions for converting Bitcoin into fiat and this could happen sooner than we think.
I read some document few days ago saying that in next month of July we can expect to see start of global regulation of Bitcoin and crypto that would make much crypto of activity illegal,
it would only be possible to send transaction with some appointed central regulator and we can also expect to see digital currencies that will make trading with bitcoin even harder.
This may sound crazy, but there are forces who are willing to do something like this, and big players who entered in Bitcoin market don't really care about this.
I don't think everything is lost, but we all need to fight hard if we want to keep our freedom and resist this crazy regulations.
Check out conversation about this on Bitcoin reddit page, Governments Planning a Global Coordinated Attack on Bitcoin from Next Month Onwards:
https://www.reddit.com/r/Bitcoin/comments/o5lhmu/governments_planning_a_global_coordinated_attack/

I live in a country that have the least progressive people in the government position so I have no worries because they will probably have a hard time figuring out what to do with it because their too corrupt to do the right thing so yeah, I don't worry too much.

I expect that countries like China will outright block the right to use cryptocurrencies, and make it illegal in the long term, while the more western countries will impose strict, almost scandalous regulation on it, so they take the major draws of Bitcoin, and cryptocurrencies, and strangle as much of it out as possible without actually outright restricting it. 

This tends to be the way. China, Iran, and Russia are usually the countries which outright control, and aren't afraid of it to be known that they do this. While, the USA, UK, and much of Europe tend to control its population via restrictions, regulations, while still providing the illusion of freedom.

I think we don't need to worry about converting BTC to fiat currency in the future. Adoption of bitcoin keep on increasing and I believe time will come in the future that many business establishment will accept bitcoin as payment and banks too. So far, if you are afraid that banks will block your transaction, you can use another way  to convert your bitcoin into fiat, don't rely only on banks. You can use p2p, and local exchange. There are always way if we will.

Maybe this was the case in the past, but look at situation now especially in Canada, UK and some parts of US... there is no more illusion of freedom, with excuse of health, as if they ever cared about people's health and well being.
Puppet politicians are blindly following orders from same center and we can see that ALL countries are rushing towards more control and centralization, and Bitcoin is going in totally opposite direction.
I wonder is Bitcon + fake Cyber Attacks are going to be new invisible enemy blamed for everything that is wrong in the world.  :P

Nah, some of us have been around since the day when you could only convert BTC to Fiat, if you traded it person2person and Bitcoin was relatively new back then. Everyone know about Bitcoin now, so it should not be more difficult now to do it again.  ;)

Also, taking a "Bitcoin Holiday" to a destination where Bitcoin is still accepted ...should also not be a problem, if you can find a way to turn it into something that you can bring back in or transfer via the Internet.  ;)   (Larger amounts makes this a viable option)

Japan and some other countries accept Bitcoin as a Currency, so you can have a great holiday, if you go there and pay with bitcoins for everything.  ;)  (Your own country will then loose out on the VAT and taxes)  8)

The other important factor to ponder is the equivalent of the IRS in each one’s country. I mean the bank itself is a potential problem since they may block TXs to/from Exchanges (as you currently can read about here and there), but they also transfer data to the taxation office (so may other types of businesses, and even more so over time as regulation steps-up its deal).

Now depending on how the rules and regulations are set out on a given country, the amounts, the timeline, and how well tied-up and traced you’ve made your earnings in BTC, you may eventually face a just as dreary time having to deal with the taxation office.

P2P and ATMs may help, and a future wider extension of direct acceptance to business is a way forward, but quantities matter here, and the plans will likely vary depending on this factor.

And there will probably always be places on the internet that are based in other countries that allow it.
You would wind up with more limited options and might have to jump though a few more steps but you will always be able to convert it out somehow.
Might take a hit on the rates, but that's about it.

-Dave

It is a good thing that you are being strategic with your bitcoin holdings and you are aware that in the future, we will be having bitcoin as a currency. If ever in the future it gets legalized by different governments in the world, there is a high chance that no matter how many bitcoin you hold, you will always be able to convert it into fiat and vice versa. I can't see bitcoin replacing fiats instead, I see it working in the future whilst having both still existing. Also, no matter how hard a certain government try to limit bitcoin or crypto use, people will still find ways.

There is too much big-player investment in the space for banking bans on crypto to become a universal phenomenon.

Straight answer NO, I am not worried. Because still now Bitcoin is ban in my country but it has a huge demand lately in peer to peer market. I don't know exactly what they do with Bitcoin but there is huge buyer and demand in my country. Even sometimes offer more than the legal price if you compare it with the USD price. So don't worry, just try to find a strong peer-to-peer channel. I believe every country has such a group that is trading Bitcoin with fiat. Once you are connected mean nothing to worries. It's a positive motive that you are holding Bitcoin. Safe it for your life, not for a lifetime by the way.

I actually don't worry about it. The reason why is that I think the places where we can pay with Bitcoin will increase at a high rate in the future. We will be able to use Bitcoin directly and won't need to convert it into fiat. And at some point, fiat will be gone and there will be only digital currencies left.

He is holding only with need to increase profit level, talk about using currency in future position, it is just personal judgment and you are imposing your opinion on him while the story is that he can't turn bitcoin into fiat in a time when banks and some governments put restrictions, and it could be said that he was just worrying too much and lacking some sensible advice. Because as long as the need for bitcoin exists, telegram groups and exchanges will still offer methods for fundamental transformation, this decentralization has ceased to rely on governments and banks

Do not think too much about that. You convert fiat to bitcoin or bitcoin to fiat at your will. And soon these banks will start to join the crypto revolution because there's a big revenue that they can take advantage of. I only see them joining us even if they're showing some signs that they're going against it. But time will tell that it's all about the adoption and it's an inevitable action that they'll do too.

There are a lot of markets that we can use. You'll always see those that provide liquid and exchange whether it's a dex, cex or P2P trade. There will always be a way.

I don't have such worries. I'm only hoping BTC will reach $1xx,xxx in the near future so I can enjoy the fruits of my labor. I've never cashed out a satoshi since 2013, but we all have needs so might cash out a small amount sometime in the future.

why should you worry? what if on the other hand fiat doesn't exist in the future?
will it affect BTC?
BTC is compatible with any currency, I believe in the future BTC will be accepted by all countries, and if there is one country that we cannot convert their BTC to fiat, there are still other alternatives to choose from.
  Don't worry the existence of BTC will not be as terrible as you imagine in the future.

Honestly yes, what i'm afraid if government made regulation that not allow exchanges can't be opened in my country. About withdraw fiat from exchanges maybe i will sell my fiat crypto balance to there are some people who called exchange partner, so where my money come from i don't need to worry about it because it sent from another people.

I am not worried about this, because even if it does not work out, it will always be possible to exchange bitcoin for another cryptocurrency that will be converted. Or just buy something that can be resold if you need regular money. In general, in my opinion, this is the beginning of a great story, and all these problems are temporary. China has decided to abandon mining - great! Others will gladly take his share of this market.

I am sure that it will depend on each regulation of each country.
If it has been legal, so, this doesn't become a matter anymore and we can cash out our BTC to fiat every time. But of course, just do it through the exchanges that are reputable and have been leag in your country. However, if you are in a country in which the BTC is still not legal, you may use P2P with the trusted platform and or convert it to PayPal. Afaik, you can trade BTC in PayPal and then convert it to fiat through USD. And there are many third parties that accept converting PayPal for money.

Yeah, it may be hard and many countries still also do this same. But, there are always ways to solve this problem.

I’m not really bothered about not being able to trade my coins to fiat on centralized platforms. I started exchanging some of my coins in late 2015 using LBC and other local buyers and sellers. I could still rely on them if the going gets rough, and trust me, there will always be some people willing to buy and sell their coins even at below or above the market rate. You just have to be diligent about it and be really watchful of the scams.

If there is a problem, there will definitely be a solution. if what op fears really happens, there will definitely be a project developed specifically to address that, I'm sure, especially as more and more crypto users. it can be a business ground for platform owners who provide services for fiat attraction.

as long as the state legal entity legalizes the existence of local crypto exchanges, there is nothing to worry about I think. although we know that many governments are against cryptocurrencies, but many also legalize it as an investment tool and trading commodity.

You need to first check your country's status if they accept cryptocurrency or not. I don't think that banks act just on their own. The government in most cases are the ones who ban crypto, then the bank implements it. If it is banned in your country, you can use p2p like Nigerians now do. When you trade p2p, the bank does not know what is going on and thinks that it is a regular transaction.

most people here will worry if they can exchange their bitcoin also my self.

same as you i work in crypto i pay my monthly groceries, internet and etc from bounty and airdrop

bitcoin reach 0$ its possible but almost impossible you know what i mean since bitcoin getting bigger and bigger and not all bank hate crypto

and banning bitcoin so gov can make their digital coin is happening right now

There are already lof of methods now to sell your Bitcoin besides Local Bitcoin, in some countries Local Bitcoins is starting to become not popular because of its competitor, and those competitors are now alternative of localbitcoins.

That's why I am curious why there will be a failure to convert your BITCOIN to FIAT in the future? It will be possible if you are from a country that government is extremely strict with Bitcoin transactions, but then again, there are very lot of ways if you want.

It will all just turn out to be just all p2p exchange which is not that bad at all in my case, just a bit hassle for me.
Right now, I can still occasionally convert a little bit of my BTC to fiat to your mentioned reasons of converting one, but if one day those will be blocked out.
My plan would be to find some people around my area that buys one.

It was one of my concern back when I was a newbie but it doesn't bother me now.
I know that there would always be a way for us to convert it if it isn't through trading site we could always do it P2P.
And before we run out of option on converting our crypto into Fiat then the price would surely be so low.

It depends on the country you live in.
I will tell you about Russia, in Moscow and St. Petersburg are the largest shadow markets. You can easily exchange your bitcoins not only for rubles, but also for dollars and euros without verification. The exchange takes place in the offices of shopping centers, the security is maximum.
Look at the reserves.
https://www.bestchange.ru/bitcoin-to-dollar-cash.html

Bitcoin will be always convertible to fiat money.
If it becomes really difficult to buy BTC with fiat money,the Bitcoin price will go back to 1K USD or even $100.
Some banks don't want to work with crypto traders,but you should be fine,if you don't leave any traces,like mentioning that you are trading cryptocurrencies,while talking with bank clerks,or inside your bank transactions.
I haven't got any problems with my bank account,but I might switch to another bank or another payment method,if my current bank decides to take the "anti-Bitcoin" path.

I think there is nothing for us to worry about, as long as most people still hold bitcoin, and big companies are still adopting bitcoin, there is no obstacle for us to exchange bitcoins to fiat currency, even though state banks are no longer willing to accept bitcoin to fiat exchanges, because they are still many roads lead to rome, p2p system we can still rely on..

Good of you

One most important thing about this technology is that i don't worried over how any government issues or trying to ban crypto, inasmuch as blockchain is concern there will be always a way to make transaction and convert your cryptocurrencies to your local currencies. E.g, Nigeria ban crypto transaction from sending to their local account and many account was frozen because they made transaction but guess what!
Binance make out a way to trade without them being limited from their government which is fully diluted by P2P trading they warn the buyer not include any Note (paying for btc and the rest) while transferring local funds to seller, this has been working very well. I have a friends over there as who updates me with this methods so it became very more simpler and easier than ever and no complained about it.

So no need to worry about.

Do not be too sure about that, the Nigerian government also have similar problems plaguing their nation, such as Insecurity, unemployment and the rest, but yet they still placed similar sanctions on crypto transaction, thus any government can just turn and place one form of sanction/ban or regulations and that's that. Governments rule through control, since Bitcoin is decentralized, their control is only limited to some regulations and Bitcoin users should expect such regulations at any time, notwithstanding the situation of the country of their residence.

I'm not worried about that because my country's government has legalized bitcoin and altcoin as tradable asset and has categorized them as commodity asset. So it is still possible to worry for those who live where bitcoin and altcoin are not accepted and traded. Meanwhile, we cannot use it as a legal tender because it would violate existing regulation. Even if you can no longer convert your asset to fiat, rest assured that there is always a way around this.

I think that the future of bitcoin in relation to daily transactions is the Lightning Network. Jack Mallers, the developer of the bitcoin wallet for El Salvador, uses the Lightning Network in his apps. He is now developing the Chivo Wallet adapted to the needs of Salvadorans.
If even in your country there are no businesses or people that accept bitcoin, you can make use of what you need for your daily needs and exchange it on the P2P platforms of your choice. I use Binance P2P every time I need Fiat but I exchange BNB because there are no fees.

This is an old story, everyone already knows how to deal with this kind of problem.
Try to be following up with the news, especially about countries where cryptocurrency is banned by the government.

Just like in Nigeria, India, and others where their government is tackling the use of cryptocurrency in one way or the other. This never stopped people from making use of cryptocurrency, rather it even made these countries one of the places that it is being traded the most. That government stops a centralized exchange doesn’t mean it is over in that country, people quickly moves to decentralized ones and continue with their trades.

You could alternatively meet people physically and trade person to person on safe locations. P2p transaction is actually one of the ways to use Bitcoin properly. I believe the creator anticipated this hence designed Bitcoin for decentralized/p2p transactions. Anyone who decides to accept Bitcoin should always anticipate resistance from traditional  banks and use it correctly rather than in centralized manner

Not at all and I don't believe that would happen. there will always be value in bitcoin. and also there is no limit to access the internet. if one of the way to convert it to fiat is closed. like banned crypto in some country people are still using internet.

No never , because I know very well that will not be in future, because bitcoin already created hype in online world. And many more people ,and big companies are thinking to accept payment in bitcoin,and so many new people Also are investing their portfolio in bitcoin.I would say about  the bitcoin in future you will see the big value of bitcoin and in future you will convert easy and anywhere your bitcoin into fiat ,so no need to worry about bitcoin at or your fiat in future .

Bitcoin will not stay forever as an investment alone because the more bigger institutions will come to adopt bitcoin, the higher the chances that bitcoin will be adopted as a currency in the future.

But for newbies who have the biggest fear about not converting btc into fiat, we won't reach this far if bitcoin will not hit its main target in the long run. We're halfway there knowing some of the countries are already adopting bitcoin. Just enjoy what we have at the moment.

If using bitcoin in your country isn't illegal, then there shouldn't be any problem when converting your coins to fiat currency as long as you are paying the taxes (if there are any) that incurs during conversion. Your banks shouldn't be freezing your funds if it came from selling crypto currencies. But if it still going to be an issue, do P2P trading. I don't see any other option over here. Or deal with cash money.

I use to  transfer crypto into fiat using Coinbase and then transfer it into paypal.  I have had my paypal account for years with no problems,   after a few transactions from Coinbase  to my paypal account  it got restricted.  I have tried to get it sorted,   and even spoken to them over the phone and they just keep saying its an ID issue I have uploaded all the docs they want and it is still not been sorted out. I have now just given up with them.  Dont transfer large amounts of money from Coinbase, Binance ect into paypal the dont seem to like it..  So far I have not had any problems with my bank lol

So far i dont have any problems when it comes on cashing out my crypto earnings and converting it to fiat since there are lots of gateways which you can really do for you to make out conversions but of course since i do live on a democratic country then it is understandable that would really be having different insights and views towards cryptocurrency because there are institutions which are still on hindrance on accepting crypto or adopting it but there are already some merchants and institutions which are making first new step for such adoption which is really great.

I also heard some Chinese bank announced ban the trading currency, but doing so Banks around the world to see still less, even so, we can also trade through the P2P, and now there are some countries are already using COINS, perhaps in the future we don't have to consider change them into yuan can use, I would like to see a situation where I can trade directly with Bitcoin.

you can spend btc directly without having the need converting it into fiat .
you get your income in btc and maybe you missed having a fiat in your hands ? if that is , well you are allowed to convert some of your btc into fiat for spending if you like it better  .
 some banks now are strict with btc but in the future the restrictions can lessen  . theres no need for you to be afraid in the future of btc

While Bitcoin is mainly a way of investment and accumulation of money, not a way of paying, I don't worry about converting it to fiat, it's just time to hold. In a far future, with widening of btc acceptance in the world when we'll be able to actually buy things and pay with btc, it will also be no use to convert it.

Yes, converting our bitcoin to fiat now is a choice and if we do not need additional money and have money for our daily needs, it is better to hold our bitcoin for some time until it gets legal in our country. Holding will be the best thing that we can do right now and we can buy more bitcoin at the current price. In the future, when bitcoin is accepted globally, we can use bitcoin directly to buy something or even we can convert it into fiat money. So it will better we have more patient to hold for more.

well p2p is highly recommended here if you remember that the bank or country you live in prohibits this bitcoin activity even though you do have to pay extra for it but this is better than nothing.
but if we talk about the future, of course, no one knows what will happen, maybe it can be like what you are talking about, maybe it can also be the other way around considering that there are so many people who are interested in this coin and it is possible that the government can maximize this so that those who still ban bitcoin can change his stance. hope it can happen

It is a great plan to leave some of your savings in btc as an investment for the long term. It shows how prepared you are for the future.
While it is actually possible that the banks would, in the future, ban cryptocurrencies transactions, there's no way the banks can ban P2P transactions.
P2P is what early adopter of bitcoin and other cryptocurrencies use before exchanges that allow direct deposit of fiat currencies come into play. The only disadvantage is that it requires that you find a reliable person to exchange with.

There is certainly some fair worry when it comes to this particular topic.  This is one of the big downsides of a government banning bitcoin, not having access to exchanges to be able to easily "cash out" your bitcoin.  I do however thin we'll get to the point of where bitcoin is so valuable that even if your government bans bitcoin, you'll still be able to use it for enough stuff that you wont mind not being able to cash it out for fiat.  I at least am hopeful for this to come to fruition.

^ Probably it is, but how about the whole world? No, no way, I don't think that too much far. BTC will grow and it will accept in the mainstream as a medium exchange and now we are here, BTC was very well known all over the world, in fact, BTC is now legalized in most countries. So I don't think BTC will go down and reach the point the government will ban cryptocurrency. At this moment, we saw that BTC will have the potential to become an alternative currency and I don't think if is worth it to think negative side towards BTC.

Not all country would really be ending up on the same decision when it comes to their own views towards Bitcoin or crypto as a whole.For sure there would be some opposing and some would tending for it to be adopted and we have seen such circumstances as of this moment where there are countries who do really adopted and welcome its existence and not really seeing it as a threat on where some countries do.

About cashing out then i dont worry that much since the country i do live in is on the bit positive towards crypto which means there are no problems or hiccups when you are tending to make out some cash out or conversion from crypto to fiat.Also if you do have some hard time on cashing out then there are still various ways which you can make use for you to do such transaction.

Yes.

There's no way for them to ban P2P transactions unless they ask help from the authorities to track and stop those people who are being involved and pushing P2P transactions.

It's very usual for some business to track their competitors and lose them through asking help from the authorities.

I am not worry about it. Since I know this is an investment with high risk, I only invest roughly 10% of my wealth so if that happen then I am still okay. In my opinion, our community is a big market for many business and bitcoin and blockchain technology is very good invention that can help this world. As far as I know we usually never stop the world advancement so I think we always can convert our bitcoin to fiat and vice versa. If not then I think it is a real fight between fiat and cryptocurrency, no one can stop people using cryptocurrency since it's transactions can be anonymously.

Seeing the current adoption rate I am somehow optimistic that most of the countries will take a positive step towards its regulation and you will have no problem converting them to cash.We have seen that now banks are also providing crypto custodial service to the customer and many many btc ETF have been established worth billion of dollars.But with the countries lacking oversight exponential powers you can trade it via P2P methods and get fiat for it.The other way is out to look for someone who accepts bitcoin and will help you to purchase any stuff of your choice.But near future is of btc and you would convert fiat to btc so keep that word.

For the last few years, BTC adaptation is getting strong and wider, even small merchants are now accepting BTC payment.

There are BTC ATM where you can cash out, P2P to transact via local or exchange and many others ways to spend BTC like fiat.

perhaps, the development for the BTC transaction will be faster and cheaper.

               This has been my biggest worry ever since I have gotten into this industry. Even with the the fortunate fact that the government here in my country doesn't pin down on crypto enthusiasts, the news I keep hearing about how bitcoin is being treated in a world wide scale is still scaring me a lot to this day. This is the main reason why I am very hesitant with investing or keeping my money in bitcoin or any other crypto currency. I end up just taking out profits every time and have a set maximum for investing. Even my friends are afraid to be found out by the government that they are using crypto currencies since if bad happens to bitcoin and the governments decide to track all crypto currency enthusiasts, it will be very easy for them to do so by then.

Nope, because it is already your investment. It will provide good return of investment if the future. In case I make money, I will still invest in bitcoin and other cryptocurrencies. Because we are moving into the future digital currency that is proven to transfer money quickly and safely. You can also use it in case of emergency because it is easy to convert.

If you study the rate of adoption of bitcoin you will understand it is not realistic that bitcoin will be banned globally. Five years ago, I hear the same news about bitcoin being banned but here we are today it is being discussed. The government will always fear something they do not have control over but it is seem they are coming to reality to think about the positive aspect of bitcoin rather than the negative side especially during the pandemic.

It's a good thing that you're holding your Bitcoin. You're having too much assurance for the future. As for me, traders and holders will always find ways in case banks would block crypto transactions. That will be quite hard for us who are using Bitcoin for our necessities but I'm sure that there will always be other ways to convert Bitcoin to fiats such as P2p and other digital wallets that support crypto transactions.

Yes, the banking barriers have been happening before and people thought about the banking barriers but that's one of the reason why P2P exchange come to play the role of saviour.


Aside the global adoption of Bitcoin, Bitcoin potential outshine the power of every government on earth and I could remember the Chain analysis advising the government that they can totally ban Bitcoin but learn what it truly was, Which is also what the IMF boss advised them to integrated virtual currency because they are future of payment.
Having said that, I don't think anyone should be worry about converting BTC to fiat when we have P2P exchange.

I don't think you need to worry about Btc for fiat it won't happen maybe in the future fiat will be defeated by btc I mean people are more confident in holding btc compared to fiat I'm sure banks in the future will issue transactions in coins and I'm sure in the future the future of coins will beat fiat.

Actually, I am not worried about not being able to convert my holding cryptocurrency such as bitcoin, litecoin, bnb and ethereum in the near future because I've already known that no matter what happens there are still exchangers who will be accepting cryptocurrency to be converted into Fiat and other local currency. How come that the cryptocurrency will not be able to convert into fiat if today it is accessible.

There may be a handful of countries that don’t allow or have some restrictions on bitcoin, but there are also countries that make bitcoin legal tender, and Bitcoin is a peer to peer transaction, it’s quick and easy.

hello sir, I think the country will find it difficult to take steps about where bitcoin will enter the bank and convert bitcoin into the country's currency, because most people will disagree with this and if that happens it will be very difficult to take profits in bitcoin too the state interferes in banking

That's what I think. And I think the trend will continue in the future. It is not a thing that makes me eat my head off whether I will be able to convert Bitcoin to fiat. For the time being I prefer to continue to accumulate it. Being the most profitable and scarce asset, I will worry about converting it to fiat in the future, if I do, as more and more people say that instead of selling their Bitcoin they will borrow against it.

With the influx of people really trying to get involved and with bitcoin breaking all odds to creating new and new lines of actions or waves in the cryptobspace and the world in terms if value, volatility, international recognition and a lot of others. I only believe, there is nothing short of general acceptance as the future Iof bitcoin or some modification that would allow for it to be used somehow to attain a purpose that would suit people of the world. Should it come to any of sort as stated by OP regarding not being able to transact freely, we've still got ourselves. It might shock you that despite the failure of the ponzi scheme MMM in 2016, it was still resurrected in the minds of those who believed in it.
Bitcoin is nothing orlf that sort and by that I mean, not a Ponzi scheme and its got a lot of potential in being something really better in the future so, I doubt it going out.

as long as it is a profitable job it is clear what you fear will never happen. because after all there are still many who want to make money from crypto, which is very attractive to many people.
then no one exchanger can be sure there are other exchangers who want to do it because everything is profit-based.
so there is no need to worry because as long as crypto can still make people produce something that can be used as a livelihood, it will always be available.

The status of crypto adoption is growing hence we know that the price of btc in the future can increase more and ways to convert it into fiat will be much easier to do. So worrying about converting to fiat is unnecessary we should be more worried now on how to have more by rather if there's a chance that there is no way to convert it as BTC and ways to use it keeps arising.

As long as Bitcoin is existing there is no cause to worry about not exchanging your coin to fiat, perhaps if Bitcoin is not accepted in place of fiat for payment of goods and services there are other avenues or ways to be utilized e.g exchanging Bitcoin to PayPal or Skrill and other digital currencies which are acceptable for procurement of goods thus there are many means or ways of exchanging Bitcoin without any obstacle this will even become more popular with the growing adoption of Bitcoin.

I'm more concerned about not being able to convert my fiat into Bitcoin.

The adoption of crypto is becoming more attainable by now since we all know that bigger companies and institutions are now opening their doors into bitcoin. So the longer the year, the more possibilities that bitcoin will already be accepted as an option to fiat and can purchase already the goods and services we need. And as long as bitcoin exists and its demand is growing, then no need to worry in the future.

Well, it's a big worry for me because unfortunatelly I can't use bitcoin as currency yet. Without converting it to fiat, bitcoin would have no use for me besides investment for the future. If things were different and many sellers were already accepting bitcoin as payment, the possibility of not being able to convert btc to fiat wouldn't bother me.
I really would like to see that happening, then fiat wouldn't be necessary anymore. But for now it is too much to ask for. At this moment, all we can do is to expect our local governments aren't going to impose a bitcoin ban like some other countries are doing.

Just like you, I am also worried if my country blocks all crypto transactions, but with P2P on the exchange I am no longer worried, and even more fortunate in our country we have a local exchange that converts btc->fiat in our local area.

I find it very interesting that you receive your income in the form of BTC. Do you have an independent business or are you working in a company that allows payments for salaries as BTC?

Regardless, the price of BTCs will always depend upon the amount of people willing to purchase it at a given price. That is why, I do not see it happening from the near future that BTCs will not be able to be converted to fiat as people would always find ways of purchasing it for investment.

I also think the same thing, for me when BTC is still trusted by many people even though the bank does not legalize the conversion of BTC to fiat, people can still make the transaction.  When basic needs such as bread are prohibited by the government from being exchanged for fiat, will people change their basic needs?  not.  As long as the bread is still liked by some people, even though they will secretly trade on the bread.  peer to peer is an alternative for people who still love BTC, only gambling which is clearly illegal can still operate, why can't BTC?

I think it is no much different from Paisleyvn's concern. I think it is about deposit and withdrawal on an exchange. As long as we can deposit Fiats on crypto exchanges, there is no problem converting fiats to Bitcoin. Exchanges are the media to buy Bitcoin, what we need is to have fiats there, so we can buy the Bitcoin. Remember that there are many available fiats on exchanges, so there are many options to deposit fiats on crypto exchanges.

I don't think something like that will happen, because basically every company wants to be always up to date, as well as banks because basically this will increase their profits, and crypto is a promising one and I'm not sure if banks remove this because p2p, and fiat will always be a unity in bitcoin and this will be very difficult to separate because they are like bound and if we look further, actually fiat and bitcoin are like a symbiosis of mutualism and need each other.

Don’t worry about this, because some countries have set Bitcoin as legal currency. Some countries may prohibit Bitcoin from being able to convert legal currency into Bitcoin, but P2P can be used for transactions, so there is no need to worry that Bitcoin cannot be converted into legal currency in the future.

Fiat currency is supportable everywhere nothing can be done in external life without fiat there is no guarantee that bitcoin will be converted to fiat in the future bitcoin has not yet been legalized in many countries. But seeing the improvement of bitcoin has made transactions easier to support peer to pear crypto and many countries around the world have legalized it but it will take a long time to convert bitcoin to fiat.

You can easily trade Bitcoin with P2P discounts. Most countries that ban Bitcoin actually only require exchange businesses to do the right thing, and most encrypted media are just low-quality clickbait and deliberate misunderstandings. The bigger concern should be that the price of Bitcoin will fall when you suddenly need a lot of money to buy something. If you have dollar expenditures, please hold a small amount of dollars, not just bitcoins.

This worry of yours too has happened in my country when the Government has prohibited all Banks from dealing in any form of transaction that is cryptocurrency-related but this shouldn't be any worry since the Government did not outrightly ban cryptocurrencies in general in the country, so because of this, cryptocurrency traders are still engaged in P2P trading from just about every exchange and fiat is just been transferred between bank accounts. I believe this is the best alternative as long as you don't have a total Ban in your country and I believe it will be here for as long as cryptos are been traded. 

I have think about this for too many times and I am still being bothered although not thinking of it too much upon what will literally happen in the future if ever I have already lots of Bitcoin earned today and decided to keep on saving those for the future in the belief that it would grow bigger upon holding it since its nature is its volatility. It have strucked into my mind the worry of "what if I have never get a chance to make an exchange or convert it into usable money (fiat) in the future?" But I have also thought that what the important thing is the current time and I am managing to maximize the usage of my crypto in my portfolio to be able to use them in the current and save up for the future.

Bitcoin already has a large adoption, it has reached such a high level of adoption that banks and governments are accepting that people use bitcon without any problems, I particularly see in my country many people using bitcoin, but I also see difficulties in the employees of banks from my country when it comes to bitcoin they just don't know what bitcoin is and as to do in case of opening an account where the person declares that the source of income is trade or investments in bitcoin

Even if the government could block every single way in which you could turn your bitcoin into fiat currencies there is still peer to peer trading done face to face, this is impractical for your everyday transaction but it could be done and you could still convert your bitcoin to fiat that way.

I am not really worried about this because slowly but surely people are beginning to accept bitcoin directly and once this is done regularly there is no amount of regulation that will stop it, so if anything at that point we will wonder why convert bitcoin to fiat at all.

I guess this is what blockchains and bridges worked for if in case you can't be able to convert your btc into fiat. There are so many ways to transfer it into any form of cryptocurrency which you can easily convert it into fiat if it is the main concern but you will be subjected to gas fees which is another concern. But overall I am not totally worried about this because I believe that bitcoin will soon be one of the circulating currency around the world and mass adoption will takes place soon.

This is the situation we face right now in my country, Banks have been banned from doing any type of cryptocurrency transactions and everyone have resulted in p2p and this transaction still goes through the banks but just with nothing showing that it is crypto-related, it will just be a cash transaction between you and the other person. There will always be an alternative to crypto trading regardless of the law as long as cryptocurrencies are still been traded.

Well we have seen in China that the government is still able to prohibit financial institutions from accepting or facilitating any transactions involving cryptocurrencies. I don't think we'll see a similar behavior by democratic governments as it would be quite unprecedented in recent times if the government fully prohibits the whole banking sector from doing something. Regulation yes, prohibition no.

Being a Bitcoiner for almost 10 years, this is one of the aspects that I am quite worried about. But the situation has improved over the years. It is possible to purchase gift cards with BTC, and these gift cards can be used for 90% of the occasions. So in all cases you don't need to convert Bitcoin to fiat cash. 5-6 years ago, it was possible to purchase prepaid debit cards that can be loaded with BTC. But due to the added regulations, doing so has become extremely hard nowadays. Finally I would say that using Bitcoin directly has remained a challenge, because the acceptability hasn't improved much in the last 2-3 years.

In some countries yes, it is may be quite an unpleasant problem to cash out Bitcoin. In some countries there are limitations in amount to cash out. In most cases people hodl or use Bitcoin directly without cashing it out. But as for my country for example there are also no services where I can use BTC. And there are limits in case I would use my bank account. Mostly it is because of taxes. People do not want to pay high taxes or declare their crypto. But people try to find other ways to exchange or cash out crypto, so-called alternatives.

even if the scenario will be very severe then P2P exchange abroad will be the best choice...

I'm not worried if I can't exchange my BTC to fiat in the future. btw, I plan to make BTC as a long-term investment for my children, anyways I see the Bitcoin trend in the future will definitely be positive. our bank account will definitely not be closed just because we got the money from sell BTC.

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.

For me personally, I've never been too worried about it and I'm very sure that in the future it can still be done, of course we know that from an increasingly popular thing there will be more ways to do many things related to this, such as bitcoin which is currently this looks more and more popular. It also does not rule out the possibility that bitcoin will be adopted better if it continues to have a positive effect on citizens.
Basically in my opinion, the government's assessment of bitcoin is still in the processing of being considered about accept it, can't completely prohibit it, and can't fully accept it yet.

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.

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.

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...

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 .

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.

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.

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.

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.

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 ) ?

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.

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..

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.

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.

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 :D

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.

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.

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.

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.

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.

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?

This is good, here the bonus pay will add up big value to their savings in the long term. TenX is one among the leading blockchain technology development firm, truly their native token value will pump high in the future. Maybe this can be followed by the other development firms. Right now the taxation process isn't that effective, only the self conscious of the people make them pay tax.

there is a stock that holds the btc for me. so if I need fiat, I just sell the stock on teh stockmarket. its called Cypherpunk (HODL).

Every bitcoiner knows the price value of Bitcoin is not static and is constantly changing. You can use bitcoin as a store value but you can't complain when prices skyrocket or dump hard. The so called stable coin like usdt, usdc are not reliable in my opinion because they ate backed by the US dollar. I prefer decentralized stable coins

Now different countries and large companies are slowly completing various transactions through Bitcoin, and the adoption rate of cryptocurrency is getting higher and higher, so in the future, it is possible that most banks will inevitably remove their cryptocurrency restrictions. At that time you don't need to convert it to legal tender at all.
In countries where bitcoin is prohibited, those who cannot convert their bitcoins into legal tender can use P2P to directly sell or buy their bitcoins.

Holding Bitcoin is a good idea until the next bull run ends and the present market scenario hints us that it may hit new ATH very soon. So, you are getting payment in Bitcoin and holding it- that's good idea totally. Sometimes, converting Bitcoin into stablecoins is also a good idea but it depends on market situation. Now holding is the better idea. I am also holding small amount of Bitcoin which i am considering the future assets. Once i sold BTC lower than $1000 but then i didn't realize the value of this digital gold.

true, bitcoin is indeed unstable, but if you want to make a long-term investment, you can be sure that you will always benefit from the halving process that occurs every 4 years, you just need to be patient, you can be sure it will be profitable and will never lose. indeed the price will go down and up during the period leading to the halving but it will always increase in price from the first time you buy if you are willing to be patient to hold it.

USDT is a coin that is indeed used for those who really need stability and will always move relatively small and always the same as the market price of US$, so it can be used for those who don't and are afraid that their investment value will change.

as long as there are still many who need bitcoin then there is no fear for anyone who uses it not to be able to exchange kefiat, it will always be easy because the exchange is always profitable.

I agree with your opinion that if we want to ensure profit from investing in Bitcoin, can try holding Bitcoin for 4 years until the next halving
occurs. Because based on history that has happened, when after the halving occurs Bitcoin always goes up in price. Indeed, there is no 100%
guarantee that this will happen at the next halving, but the chances are high enough to be true. Then don't be afraid that in the future you will
not be able to convert Bitcoin to fiat, because after all, as long as the demand for Bitcoin is very high, there will always be a way to convert Bitcoin
to fiat.

Yea, theres no worries we can not swap Bitcoin to fiat in the future, the latest technological developments always support us to do this anywhere to access the market, as long as there is internet, I don't think we need to worry about it. or we can make transactions directly from wallet to wallet to fellow crypto users with an escrow system or direct transfer.

Actually it's something that i've been wondering about as well, for those people that had bitcoin considered illegal in their country, yet they still invest or trade in cryptocurrency, how can they convert their bitcoin to fiat? or they just let it be as that way? never converting it before it's considered legal again? I'm still clueless please enlighten me. But recently i found something like crypto converter. So people who don't really understand, or not wanting to directly convert bitcoin to their bank account, they can use the service of these crypto converters, ask them to convert your crypto and you can just wait till the money came to your bank account, safely. There are quite a lot of services like that now, and i think that's quite genius.

I have many friends who come from countries that do not allow Bitcoin to be used, but they can still own Bitcoin and can convert their Bitcoin
into fiat. But indeed the process is not as easy as people who do live in countries where Bitcoin has legalized. Sometimes they use several platforms
that do provide facilities that allow people to convert Bitcoin into fiat. Or they can also ask for help from friends who live in other countries that
have legalized Bitcoin, there are also those people who form their own communities in countries that ban Bitcoin, so they make Bitcoin transactions
with fellow community members.

I don't worry about it. Because such thing won't be happening unless fiat money is gone forever. I don't think that all goverments will prevent people from using exchanges to convert coins to fiat. This market has already got past that stage. Bitcoin adoption is going on like always. While the number of people who start using cryptocurrencies increases, governments wouldn't like to hinder them. It wouldn't be a wise choice for them.

I'm not worried about this problem because for the exchange there are still many developing platforms and I don't think Bitcoin will be stopped by the government (there are still many countries that are not friendly with Bitcoin, but until now the popularity of Bitcoin is increasing). What I'm worried about is the scarcity of supply and the decline in buying interest, I think it could be the start of the Crypto extinction.

|depend in which country mate specially those who has already accepted bitcoin as legal tender so how would they having this same trouble as yours?

but of course all of us have this same worry because what if one day that all the country near us will totally banned bitcoin and we will have no option to cash out?

this is the nightmare we all don't want to have so lets be sure to have a best decision at any cost.

You shouldn't worry about scarcity and supply. That's the best thing that bitcoin ever has. Even if you're assuming that there's going to be a decline in buying interest. You're underestimating that there are many people that are also waiting for it to drop in price. Because if it does, the buying interest shall increase and it will make bitcoin increase its price again. But talking about that, it's not something that you should worry about because bitcoin's scarcity and having a limited supply, it's one of the reasons why this asset is going to give us the confidence that there's a good future that awaits on its value.

I don’t no, at some stage which isn’t too far away, we won’t have to convert from bitcoin to fiat. We will he able to spend bitcoin directly. You could argue that it’s possible to do that now. Many services offer VISA cards where you spend your bitcoin. It converts to fiat automatically when you make a purchase.

There are some local exchanges in my country, maybe if close one, the others still open. But what i'm afraid is when government made bitcoin in my county illegal and closed down all of them. Although that thing can really happen in very small chance, a lot of people maybe afraid if suddenly they can't convert bitcoin to fiat anymore because it is value of bitcoin itself.

Unpopular opinion - very soon, we won't require to convert our cryptocurrency to fiat. Nowadays, it is relatively easy to purchase gift cards using Bitcoin and other cryptocurrencies. We can use these gift cards for shopping and there's no need to directly convert cryptocurrency to fiat. From my perspective, I would say that nowadays it is possible to use BTC for 90% of the cases. And I am sure, as time passes this proportion will further go up. Acceptance can only increase from now.. it can never go down.