??
Bitcoins are a currency, there's no need to convert them. It's just happening now because some people want into this environment.
Bitcoins are a currency, there's no need to convert them. It's just happening now because some people want into this environment.
Have you tried paying your taxes in Bitcoin? The IRS (or regional equivalent) is not going to accept bitcoin any time soon and they will want you to pay taxes on, for example, profits. There is a need to convert, don't believe otherwise.
Companies regularly complains that this costs them 1% or so of revenue.
Not yet.
Saying you're not supposed to convert bitcoin is the statement of someone who thinks bitcoin is NOT an investment. So... not a goldbug.
1. People stop bothering to follow the law, and governments throw their hands in the air and do nothing about it.
2. Governments start accepting Bitcoin for tax purposes.
I am not confident that either of these will happen...
Yes, unless you want to, you know, buy something...
That bar/grill is a novelty -- and it probably only accepted BTC in the first place because there was a BTC EVENT held at it.
There's even projects that accept donations in bitcoins, you'll see wallet addresses like this: 1JBEGFXW6ywMtZnCbjvKGJXDtdR6g6KmMi
Their utility isn't tied to the fact that you can turn them into more of your favorite currency later, that stupidity is what's driving the current bitcoin bubble. Wait till people realize what you can do with them.
You need grocery stores, gas stations, clothing stores, and restaurants to start accepting it. Until then, it's really just a novelty for middle class college Libertarians.
Do you think that cryptocurrencies spring fully-formed from the forehead of Zeus?