Why do we keep converting bitcoin back to dollars ?

[Shamie1002]

Well first is fiat and we can't deny that we use bitcoin for filling our financial needs. That is why bitcoins are always turned into fiat. Also, it's still the common way or mode of payment. And i think that some people also do this to avoid spending bitcoins often. Well first is fiat and we can't deny that we use bitcoin for filling our financial needs. That is why bitcoins are always turned till Not unless bitcoin is accepted in more stores, maybe then there will be lesser cases of turning it back to fiat.

[pecson134]

It's almost like we don't value it for itself, but what it's worth in "real" money.

Maybe some people have their own reason why they converting back to bitcoins.  What I think is that they might have in need of dollar as a payment on something which cannot be paid by bitcoins or the requirement of the transaction was not in need for bitcoins.  In short when bitcoin is not the required medium for payment we resort to other currency perse.

[meanwords]

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?

It's because you can't buy everything with Bitcoin,  you need physical money to buy something. Bitcoin is still not known yet in a lot of countries just like in here.  If you live in a country like mine, you can't buy basic needs in the store with Bitcoin that's why we convert it.

[SureLockLoans]

A lot of people need to pay bills or purchase things which aren't feasible in Bitcoin yet.

[alfstep]

Some people hold their btc, but some others sell them high and buy them back low
There is nothing wrong with that, everyone has their own judgement

[iamzill]

It's almost like we don't value it for itself, but what it's worth in "real" money.

from your question I am answering that my country for payment system still uses real currency and dollar as a benchmark of currency value in our country and possibly future bitcoin may be a valid payment instrument in my country

[nightxglow]

For me myself, i need to convert bitcoin to usd if i need money.
Bitcoin is not acceptable yet in my country, there're not any places that accept bitcoin as payment.
But of course i appreciate bitcoin value, so if i don't really need money, i'll keep bitcoin and let the value increase, not converting all of my btc and use them.
So it's just a matter of choice. Maybe if your country accept bitcoin, you don't need to convert it to dollar and can just use it that way.

[NightCloudz07]

In this life, there are a lot of payables that needs dollar and I think sometimes people convert it due to emergencies in their life that needs to pay as dollar. Or maybe used it as for the other business.
But not all bitcoin in their wallet, maybe an small amount only. But now I still do not convert it to dollars because I want to make it grow and invest it to other bitcoin related business. And I know that someday it is the great decision that I ever made.

because dollar is in the higher price so we keep converting it

[eldrin]

Well, we convert when we need fiat money. Not all the time, bitcoin or any other cryptocurrency is being accepted as payment. So converting it to fiat money is the only way to use it. I also think that people convert bitcoin to fiat when the price is high, then convert that again to bitcoin when price is low, in that way, the value of what they've converted lately will increase.

[Nawaytes]

Some products that we need can't be bought with bitcoin, so we have to swap it. Moreover, not all countries accept bitcoin as a means of payment, if we want to buy something then we have to change it into fiat currency.
And for a short-term trader, converting bitcoin into fiat currency is a must, for profit.

[bitcoinmasterlord]

Some products that we need can't be bought with bitcoin, so we have to swap it. Moreover, not all countries accept bitcoin as a means of payment, if we want to buy something then we have to change it into fiat currency.
And for a short-term trader, converting bitcoin into fiat currency is a must, for profit.

To use bitcoins we must convert it into fiat currency, or else we can't use it in the real world. Becasue still, no country can be accepted this as a legal currency except Japan. Some people convert BTC to USD when the price is high, and again they will buy BTC when the price is down. So to do trading also people convert BTC to USD.

[Yarsk]

The question is how many items can be purchase with bitcoin in our locality with bitcoin at this present time, people convert they bitcoin to faint money for different reasons. To some is for treading purposes the sell they bitcoin when the price is high and buy same when there is a fall in price, and also people need to use paper money in they every life like buying of goods from our local market so due to nonacceptance of bitcoin in some locality it best bitcoin be converted to faint in other to be used.

[MMA]

It's almost like we don't value it for itself, but what it's worth in "real" money.

Hey friend, that's according to me depending on the situation and the condition of each of the people living in each their country, whether bitcoin is really be legalized or not yet at all in the country. Of course for those who in the country haven't really legalize bitcoin as the currency in their country, it will definetely to selling it first in the regular currency (paper money), but I'm sure most of the people which in their country that bitcoin has been legalized.. surely will not return it to the regular currency (paper money), because of course can be able to use bitcoin directly to buying whatever is desired / needed by him/her.

The country in which you are also depends but I think it varies from person to person as well and as said these are the circumstances that compel one to change bitcoin to dollars or to any other local currency. The feasibility of using bitcoin directly is if greater then people will never convert it but unfortunately bitcoin is not feasible to be used for all the domestic payments. I read somewhere just two days ago in which this point was mentioned that for payment with bitcoin you have to give an extra burden of transaction fee too. So, people convert the bitcoin in the local currency and pay just once the transaction fee while use the same fiat for various payments without any tension of paying extra charges on each payment. 

[cjinny]

Not all transactions can be done by bitcoin, some have to use dollars. That's why some people still often exchange their bitcoins with dollars.

[streetlight]

That's because we still have to live in this financial system that exists today since it revolves around everything we do. Also Bitcoin just isn't at that stage of evolving yet.

[Shinza]

It's almost like we don't value it for itself, but what it's worth in "real" money.

Currently, btc is not available everywhere, and some services do not accept btc payments. Therefore, they need cash to be able to easily carry out transactions and use them everywhere. And that is also a way to keep money away from risk as they fear price will fall. maybe so.

[megynacuna]

It's almost like we don't value it for itself, but what it's worth in "real" money.

Currently, btc is not available everywhere, and some services do not accept btc payments. Therefore, they need cash to be able to easily carry out transactions and use them everywhere. And that is also a way to keep money away from risk as they fear price will fall. maybe so.

The USD is actually a globally accepted currency for trade and everything and since it has that much recognition and it's understandable by many around the world i think it makes sense to suggest that  when bitcoins are quoted in such a currency it could be easily understood by all worldwide. The same  goes for  the Euro among others.

[1Referee]

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.

[yoseph]

It's almost like we don't value it for itself, but what it's worth in "real" money.

Even crude oil, Gold and other things are shown their value in the United States Dollars because on its own we really can't give a value to it. And the same applies for bitcoins as well, on its own we can't really see its valuability until it's rated against a major currency.

[Freegan]

To be honest I do not enjoy doing this exchange either, but since I made the decision to transfer all my economy and personal finances to the bitcoin platform, I still need to cover my expenses through that exchange, since in my country it is still practically impossible make a living through bitcoin without any conversion.