Hey guys,
In order to benefit, will I have to cash out bitcoin when it gets high? That would mean i would have to sell it for dollar or other currency.
When i am buying online with coin, if it says the shirt is for $25, will they calculate how much $25 is worth in BTC at the current market rate or
how much it originally started with? If its at the current market rate, then whats the point of bitcoin if i am not profitting?
When the price of Bitcoin reached a certain amount that you want to take your profit, of course you will need to cash it out before you can say that you made a profit because if not, it is still on a risk of dropping its value. When buying online using Bitcoin it is automatically calculated by the software or wallet that you use for sending Bitcoin, every wallet has its own source of exchange rate (some have options to change the exchange rate source), for example the wallet you are using use the exchange rate of coinbase that wallet will base that value of current exchange rate of coinbase.