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dhas
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October 26, 2017, 12:08:35 PM |
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It's almost like we don't value it for itself, but what it's worth in "real" money.
Maybe its true. We are putting our dollars to buy bitcoin. And then this bitcoin can be use in mining to earn more bitcoin. Or we join a signiture campaign where are salary is in term of bitcoin. We save a lot of bitcoin and then wait until the price of it goes up. And then we will converting it again to dollars. But now its not like the same amount , it has its profit. In other word we still convert bitcoin to dollars because we would like to see our profit from the money we invest in bitcoin. |
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Even in the event that an attacker gains more than 50% of the network's
computational power, only transactions sent by the attacker could be
reversed or double-spent. The network would not be destroyed.
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hacker1001101001
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October 26, 2017, 12:12:19 PM |
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It's almost like we don't value it for itself, but what it's worth in "real" money.
Most of the people work with bitcoin due to the need of income and the also live on this income so most of the people prefer to convert bitcoin to real money rather than holding it for long time. People need to use this income from bitcoin for there daily need and to live a good financial life and for this bitcoins need to be converted as it is not acceptable every where in the surrounding. |
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pat4cryptoreal
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October 26, 2017, 12:12:53 PM |
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The reason why most people always convert their bitcoin to dollar is because majority of the financial transactions do not accept bitcoin yet so dollar is mostly used.
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LyQaN
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October 26, 2017, 12:16:14 PM |
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it is because we want to spend money earned,there are very few stores that accept bitcoin,so until and unless bitcoin is hugely accepted as currency people will keep on converting it to buy goods and services because we have no other option left
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TastyChillySauce00
Legendary
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Activity: 2982
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Leading Crypto Sports Betting & Casino Platform
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October 26, 2017, 12:27:37 PM |
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It's almost like we don't value it for itself, but what it's worth in "real" money.
Maybe its true. We are putting our dollars to buy bitcoin. And then this bitcoin can be use in mining to earn more bitcoin. Or we join a signiture campaign where are salary is in term of bitcoin. We save a lot of bitcoin and then wait until the price of it goes up. And then we will converting it again to dollars. But now its not like the same amount , it has its profit. In other word we still convert bitcoin to dollars because we would like to see our profit from the money we invest in bitcoin. People tend to judge bitcoin based on its value to the fiat, even though so many people here spreading hatred towards fiat. But let us be honest, if bitcoin wasn't valuable if converted to fiat. Will this entire bitcoin community become this popular and this crowded? I think not, people here to make profit out of bitcoin, making additional earning and at the end, the expect to have more of their local fiat. |
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azmiupb
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October 26, 2017, 12:31:14 PM |
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Its up to you. If u want to convert to dollar or other currency. Mostly convert to dollars because most people use dollars as currency.
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Semaj123
Member
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Activity: 434
Merit: 10
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October 26, 2017, 12:31:28 PM |
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Because not all stores accept bitcoin as payment,they need real money to be the payments of the goods they buy.And some may also want to convert it maybe because there afraid that bitcoin will dropdown,and others would wait for the bitcoin to drop then buy at that rate.
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Kingofbitcoin12345
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October 26, 2017, 12:32:50 PM |
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It's almost like we don't value it for itself, but what it's worth in "real" money.
Thants not it,, the reason is bitcoin uses is limited because only few businesses is accepting bitcoin but when the time comes that most items or services can be bought directly with bitcoin everything gonna change fast enough.. We value bitcoin as it is but the government who makes licences and prohibited cryptocurrency adaptation to business sector is the problem.. |
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bitalive
Newbie
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Activity: 42
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October 26, 2017, 12:46:07 PM |
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USD is still the major conversion unit among all and every economy - may be for that.
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Ayaancool
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October 26, 2017, 01:02:15 PM |
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All people have their own vision to use their bitcoins. It depends up on their needs. Most of them always prefer to sell their bitcoin in peak stage and buy some other cheap rated bitcoins,some might sell bitcoin to cash out some fiat and some used to do as shopping .....etc.
There is no use to keep bitcoin as it is .To fulfill our needs we want to convert bitcoin in to dollars. But it doesn't mean that we are not giving any importance for bitcoin.
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Bitcoincole
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October 26, 2017, 01:10:02 PM |
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All people have their own vision to use their bitcoins. It depends up on their needs. Most of them always prefer to sell their bitcoin in peak stage and buy some other cheap rated bitcoins,some might sell bitcoin to cash out some fiat and some used to do as shopping .....etc.
There is no use to keep bitcoin as it is .To fulfill our needs we want to convert bitcoin in to dollars. But it doesn't mean that we are not giving any importance for bitcoin.
The main reason why we convert bitcoin into dollars is to earned a high profit through fiat currency. Because 1 BTC can exchange 5,946 USD. For me its a huge profit already if i convert my coin into my currency. So as a free earner my aim is to earned a lot of bitcoin to have a big cash to support my financial needs in my family. |
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Creepings
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October 26, 2017, 01:23:24 PM |
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Its up to you. If u want to convert to dollar or other currency. Mostly convert to dollars because most people use dollars as currency.
More like they don't have a choice since cryptocurrencies like bitcoin is bot that popular to be used in the real world. In our country we really need to convert bitcoin into fiat because there are so few people who use it and accept it as a payment. We still need the help of exchangers so we can use bitcoin. I think it will take time until we can use bitcoin itself in transacting and paying. |
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waynechong1995
Full Member
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Activity: 644
Merit: 117
swing!
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October 26, 2017, 01:29:27 PM |
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It's because US dollars are relatively strong compared to others, for over 13 years it's very reliable and people are willing to pay less in exchange of dollars. Bitcoin is no exception. In terms of trading holding USD would make your deal very much stable as dollar doesn't drop easily and you were less likely to experience inflation by holding USD. As for fiat exchange, the price of BTC let's say $5000 you would pretty much get the exact same value unlike other currencies which would be marked down at least 10% to compensate the rating risks.
Well it could be simply because Bitcoins has always been measured by USD since it's popularity and so do we eventually.
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saekotye07
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October 26, 2017, 01:39:30 PM |
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yes we are converting bitcoin to money because there's a lot of reasons.. all people in the world is literally want is the physical money to buy their foods, medicine, new stuff, financial problem like school.. but sometimes they trade they bitcoin to buy some poor currency to resell it again in the high price.
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Cutekittens21
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October 26, 2017, 01:43:34 PM |
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Re: Why do we keep converting bitcoin back to dollars ?
I don't. I keep converting dollars into bitcoins. You'd have to be pretty dumb to go the other way around. Why would you want to take a valuable appreciating asset and convert it into worthless depreciating paper? So when you fill up your gas you think hmm how many bitcoins is this? Ahh, 0.01. Thats just strange. When I lived abroad, I always converted the local currency back to USD until I became comfortable with its value. If bitcoin is used in the real world daily, this will also become the norm. |
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Diablesfunis
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October 26, 2017, 01:49:28 PM |
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It's almost like we don't value it for itself, but what it's worth in "real" money.
It's because you still need the so called "real" money to buy things, you can't use bitcoin as there are only a few merchants who accept it. If everyone accept bitcoin or at least the majority then everyone won't convert their bitcoin to fiat. |
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valentin68
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October 26, 2017, 02:00:00 PM |
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There are some credit cards that where you can can load money with bitcoin or with other alt-coins. Not very trusted, but at the do exist. Thus bitcoin can be used directly to pay for goods online or offline. Until a very trusted online "bitcoin bank" would not issue credit cards that can be loaded with bitcoin, we will keep converting bitcoin to dollars.
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MoonJeina
Sr. Member
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Activity: 652
Merit: 250
Make winning bets on sports with Sportsbet.io!
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October 26, 2017, 02:18:11 PM |
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Bitcoin is still not legalized in many countries and moreover its is also not directly accepted for online payments aswel . To make the meaning and clear the value and price of bitcoin it is compared to dollar so that people who have very little knowledge about bitcoin can also know about it more .
Many bitcoin users still use bitcoins to convert them to their respective currency so that is why it is compared to dollar .
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DBronze98
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October 26, 2017, 02:21:11 PM |
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It's almost like we don't value it for itself, but what it's worth in "real" money.
my idea.If you do not convert bitcoin into dollars at high bitcoin prices. After the bitcoin price decreases your dollars are reduced. |
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worldofcoins
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October 26, 2017, 02:25:52 PM |
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Well we have to convert Bitcoins or other cryptocurrency into fiat most times due to the fact you might need to buy something. For example where I liv no one knows what or where to get bitcoins. I cant yet use my bitcoins to buy food where I am at. I am sure some of you can buy at your local market. Countries like mine or way behind development when it comes to bitcoins. They don't even have a credit card terminal.
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