Why do we keep converting bitcoin back to dollars ?

[xBitHodler]

We have to convert back to USD because not all countries have some sort of services that will accept payments in BTC. Some people are able to pay for their bills and food with Bitcoin. Fortunately, I'm one of them. Thanks to the one company in my country I'm able to order anything what I want from the Internet and pay with bitcoins.

[devil jin]

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

It's not just that we do not value it based on its original value as a currency. It just so happen that the main reason why people is always converting their digital money into real one is that the presence of real money is still preferable by many people all over the world since not all are still accepting bitcoin as a term of payment for availing products and services offered by them. Do not also forget that the value of bitcoin was still based on the real money which can be converted into different national currencies of different countries including dollars.

[xanxus.kun]

correct me if I'm wrong but i think what they're doing is called scalping, some people wants easy profit and you can't blame them, after all who doesn't want an easy money, this is why they convert Bitcoin to US dollar when it reach its peak amount then Convert it back when the value dumps.

[szpalata]

correct me if I'm wrong but i think what they're doing is called scalping, some people wants easy profit and you can't blame them, after all who doesn't want an easy money, this is why they convert Bitcoin to US dollar when it reach its peak amount then Convert it back when the value dumps.

Well i think the Dollar is the most popular fiat and bitcoin being the most popular cryptocurrency and  so we should be able to compare them one way or the other. I think the same can be thought of the Euro, Yen and the British pound. They are the most known fiats and they are easily ciompared to bitcoin.

[bitfornewbs]

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

It depends on their aim. If they want to use their btc right away, they have to convert them to usd to cover their expenses. Some wants to convert them just to get the highest possible amount they can get in those weeks and use it right away. We surely value it and thats why we convert it for us to use it because some doesnt accept bitcoin as payments. If you want to earn big, you invest your time into long term investment which is for many, is far too long which is bad for them cuz they cant pay their everyday expenses. e.i electricity bills, waterbills, foods and clothes etc.

[culuuton]

Why are exchange sites using BTC / USD? USD is the standard currency currently circulated worldwide. Everyone transfer bitcoin back to dollars for more convenient payment in everyday life because you can't buy anything at anywhere near you by bitcoin(not to mention the transaction fee when buying something small value).

[Mr. Thang]

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

The usage of bitcoin is unique, therefore every person has their own use for it. Whether for extra-income or investment, people covert it into dollars to see its value in the real world, especially when buying products or asking for services. To add, converting it to dollar gives its value and usage. When they see that bitcoin prices are starting to increase, they tend to cash-out SOME of their investments for their personal use.

Personally, I convert my bitcoins to fiat for the purpose of financing my university expenses throughout the term. It is very expensive nowadays to provide for your own supplies and books, thus making bitcoin my alternative payment makes my life a little bit easier. Not to mention, this also helps my family in recovering their expenses every month by me, buying for my own things.

[pugman]

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

That's because you need to have some Money with you in real life and keeping it in bitcoin forever will only work if you super damn rich and have a well set job and no financial troubles no matter what. So one day or the other you will need to cash out your crypto currency.

[paolo099]

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

Well, we are not even close to have BTC as daily basis currency, it does have an intrinsic value but for the day by day you need money, cash and so far you can use bitcoin for few shops (compared to the totality of the shops around the globe).
For now this is the only way to go in the future maybe this will change, but i doubt we are going to see BTC as a form of payment in the shops like debit card, credit card or cash.

[iv4n]

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

That's because you need to have some Money with you in real life and keeping it in bitcoin forever will only work if you super damn rich and have a well set job and no financial troubles no matter what. So one day or the other you will need to cash out your crypto currency.

We need to eat, drink, sleep and have fun on top of all that.
Eating, drinking, having nice home cost money, bills are coming every month. One day or another we need to cash out our bitcoins, most of us probably, because we can't do much with bitcoins directly, no one in my country accept it. I'm saying that for years, just rich people have that privilege to save money, bitcoins or anything else valuable. I'm not rich and from time to time I need extra money, I can cash out bitcoins or borrow money from others, I choose to spend what is mine.

[Hotrod_88]

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

Because not all establishments are accepting bitcoins as a payment so we cannot use bitcoins in buying food on our favorite fast food stores because there are limited branches of stores who are accepting it so in order to spend oir bitcoins we need to convert it into real money. That is the reason why we are all here, to gain money if bitcoins can be used everywhere we wouldn't need to convert it though. And some reasons are the value of it, some people are afraid to loss money so everytime that they received bitcoins they will convert it i to cash before the price falls

[Triwnis]

because we can not spend bitcoins everywhere and we can spend dollars everywhere that is why we convert bitcoins to dollars so we can spend them where ever we want maybe in the future when you can pay everywhere with bitcoins people will not convert anymore.

[tryer12]

It's a controversial subject, If people do sell their Bitcoins for USD it's not necessarily because they don't believe and value the coin. It's usually because they need money to buy things because Bitcoin isn't accpeted everywhere yet so they buy it when it's rather low and wait for it to increase in price and then sell it yet, it's usually a small piece when it comes to everyday people But when it comes to Investors  they usually do the same but in mass transactions, Buy low sell high. But when a Hardfork approaches they usually do keep their coins in order to recieve what they might seem to call "Free tokens" and they do that because they do value the coin.
So it really does depends on who you are talking about and when.

[webdevmastery]

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

Isn't that obvious that we need real cash now a days. Most of the traders are holding their coins for a very long time and they will only exchange into real money if there is an emergency or they are using bitcoin to sustain their daily needs.

[Lagduf]

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

Isn't that obvious that we need real cash now a days. Most of the traders are holding their coins for a very long time and they will only exchange into real money if there is an emergency or they are using bitcoin to sustain their daily needs.

And I'm sure that vast majority of people here consider of atleast earning or owning bitcoin due to its value converted to fiat, let's be frank here, so many people when bitcoin is pumped are trying to sell off their bitcoin in exchange of their local currency, it's basically means, they actually wants the dollars than the bitcoin itself.
Maybe I'm wrong, but that's what I see.

[MoneyIsDebt]

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.

Those who are using it as a investment purpose there are different reasons for them but i think in the end everyone needs to enjoy the profit either by converting it into fiat like dollar or bitcoin.the dollar is the currency more transacted in the world, so is normal for us to see it as a standard. Also even cryptocurrency is more and more accepted in a lot of countries and stores everyday, the vast majority still prefers dollars.

[yoseph]

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

Because it is way easier to ascertain the true value of bitcoin when it is compared to a major currency and in this point, the US dollars. until bitcoin is accepted as the mode of payment for everything in the world, we will keep converting it into the US Dollars to know its current worth.

[manhwa]

exchange bitcoin to fiat that means utilize bitcoin to gain profit and enjoy the benefits we get from bitcoin

[Vritesh]

It is just because Bitcoin is not accepted everywhere so we have to convert it into dollars or some other acceptable currency in order to spend it.

[saleenasmith]

it would be a smartar move if we start converting all our dollars into bitcoin...