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Author Topic: Why do we keep converting bitcoin back to dollars ?  (Read 3747 times)
Glutius
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March 14, 2018, 11:57:45 AM
 #341

It's simple - we have no way to spend bitcoins to pay bills, etc. So we have to convert bitcoin to Fiat.

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C. Bergmann
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March 14, 2018, 12:00:21 PM
 #342

It's almost like we don't value it for itself, but what it's worth in "real" money.
Since Bitcoin isn't widely accepted to a lot of stores unlike dollars or any other fiat, we tend to convert it so we can buy our own necessities. It doesn't mean we don't value it but rather, as for me, we just don't have a choice and we need it. Also, it is much more stable to use because the price tends to be fixed since most of the products are still tied to fiat rather than in bitcoins.


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Beldon
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March 14, 2018, 12:01:55 PM
 #343

Because bitcoin is not totally accepted in the whole world. Although bitcoin is pretty convenient as payment online, not all places in the Earth accept bitcoin so the only way is to convert bitcoin into dollars or other fiat currency. Conversion could stop if it becomes legally accepted everywhere.
Bitcoin is not accepted in some countries because nobody has set about Bitcoin. Bitcoin prices are also very volatile, this is what causes Bitcoin denied here and there. Whereas we know all Bitcoin is very profitable. There have been so many successful people since knowing Bitcoin. Bitcoin deserves to be preserved.

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xbiv2
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March 14, 2018, 12:12:35 PM
 #344

Quote
Why do we keep converting bitcoin back to dollars ?
Because bitcoin on early stage of adoption.

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