Why do we keep converting bitcoin back to dollars ?

[bitctrimor1]

People might have different reasons for this conversions, some might sell bitcoin to cashout some fiat and make shopping, others might just want to sell bitcoin on peak price to buy back some cheap bitcoins later on etc.

Converting bitcoin back to dollar doesn't mean we are not giving any true value to bitcoin.

That's right. But, I think, for now, people convert it mainly to use it for their needs or convert it back to buy coins, following the principle "buy low, sell high". When you convert your bitcoin to cash and then use the cash to buy coins less than how you sold it, that's a means of earning money. It's a normal practice in the stock market, therefore it would be a practice applicable to bitcoins as well.

[Nyenyepogi]

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

Wrong decision because bitcoin will going increase again 100% but its your choice if you want to convert your btc to usd some people scared about decreasing of bitcoin because of the bch thats why they are converting their btc to their currency.

[Nirmaldisaster]

I will not do it until retire trading.

[Flor1982]

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

Simply because they need money to buy things in which dollar can be use anywhere and anytime, unlike bitcoin there is only few establisments are accepting in which most of it are very expensive and high value stores. We should accept the truth that at the moment bitcoin and other digital currencies are only good for investments that fiat is still the recognized currency in the world in which dollar is the most common to use.

[akmittal]

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

Bitcoin is not spendable in market so we convert bitcoin into $ to fulfill our tequirement. It is also true we faith in dollar note than Crypto currency.

[xiaohang07]

They are shorting bitcoin in the belief that bitcoin is overpriced currently. And they will probably buy back bitcoin at lower price.

[Unilevear]

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

It's a strategy, if we bought bitcoin a low price we will try to hold it as long as we could until it reaches a high price and when it is starting to fall down again, we simply convert it to our local currency so that we can keep the gain we had. Then again, we wait for lowest price bitcoin can reach during the dump then we will convert again to bitcoin. It's a cycle that all of us are doing to keep gaining profits from bitcoin.

[speem28]

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

It is not like we don't value it for what its worth, but we know how to take advantage of it. Since Bitcoin is not yet the mainstream currency, we still rely heavily on paper money that is why we want to gain as much as possible in bitcoin to use it for our personal needs. I mean, there are a lot of us like me, who also uses bitcoin in other online transactions but let's be honest here, it is still convenient to use paper money in small transactions that we are doing every day. We keep converting bitcoin back to our local currency when its price is starting to decline and then convert back again to bitcoin when its price will start to increase, this way we are maximizing the potential earning we can on bitcoin.

[DoublerHunter]

They are shorting bitcoin in the belief that bitcoin is overpriced currently. And they will probably buy back bitcoin at lower price.

I agree with you. Shorting or trading bitcoin back to dollars is one of their way to grow their money or to make some profit because the price of bitcoin is high then they will sell their bitcoin to secure the profits that they made from their investment but if the bitcoin will go down then they will buy bitcoin so they can get more amount of bitcoin for their investment.

[cellat87]

It is because bitcoin is still not available for purchasing power. We all still need money "paper money" to buy things like foods and other stuffs. But when time comes there will be less "paper money" due to the availability of bitcoin to buy things.

[Owl129]

It is because people here used bitcoin for investment they buy bitcoin a low price and hold ot until its price increase and convert it back to gain profit. Some people convert it back and use it for their personal reasons for buying foods or clothings or to supply their needs because bitcoin these days are not available to purchase our need we still need to convert it into physical money.

[gamalzour]

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

I think we keep converting it to dollars because that is the only way we know its value or how much it is worth, and not just because we do not value Bitcoins for itself. Just like all other currencies, I think it needs to be converted to other major currencies for comparison and contrast to know how much our currencies are worth in the world market and to assess how well or badly it is currently doing.

Everyone has different needs and point of view for such cases, some sell bitcoin when the value goes up to get some money and do some shopping, others may just want to sell bitcoin at a top price to buy back for investment. Turning bitcoins back into dollars does not mean we do not assign values to bitcoins exactly the opposite.

this is becoming nowadays trend to invest into this coin and when the price goes high simply cash out money and this is just because that bitcoin is not accepted all over the world and if this coin will be accepted then this trend will be wiped out and this is need of people that cash money is still ruling world without it nobody can survives so maybe after 6 to 7 years converting bitcoin into flat will be avoided.

[Bitcoinnumberone]

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

we convert bitcoin in dollars because you can not actually use bitcoin to buy coffee outside, we convert it to dollars or any other currency because we want to spend it to something that can not be bought through bitcoin but can be bought using real life currency.But not all the time we convert bitcoin because I personally hold it and I do not convert it yet. I am waiting for the time that bitcoin's price wil rise even higher.  Sometimes I do not convert it because I can purchase something directly using bitcoin,for example is steam games and other in game purchases.

[Mrengage]

We need to convert back to fiat inorder to to be able to use it to purchase local foods and service

[Vicrey]

its because we need ah real money so that we are converting bitcoin to dollars.

[TiffanyLien23]

Its because we really need cash money in order to buy our daily needs and wants.

[schaituch007]

its because we got enough profit from our investment, so we keep converting them back to stable and usable currency

[UchihaRukawa]

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

Because most of the people who buys bitcoins are just buying it because of its high value that can be converted to dollars and other fiat currencies. I cant blame these people, its just so enticing to buy cryptocurrencies because of its volatility, that makes it good for earning fiat currency.

[hoanghoatham04]

I think because Bitcoin is not legalized worldwide so when we want to use Bitcoin to buy anything or pay for bill we still have to exchange Bitcoin into cash to pay but if Bitcoin is legalized in your country it'll be very cool cause you can use Bitcoin to buy everything directly

[dragon fire]

I think it's just easier for people to think of it in terms of dollars at this point. No one forces us to actually withdraw the cryptocurrency and exchange it for physical tender.

because the dollar currency is the center of the world currency. And the dollar exchange rate will continue to increase with the times.
imagine if bitcoin follow the currency of each country?
how much is it worth?
the very thing that can happen with bitcoin against the dollar can stimulate every individual basically and society generally invests through this bitcoin.