I just wonder how bitcoin really works on local exchange around the world because if you will going to need a real money and you have bitcoin definitely you can sell your bitcoin and exchange it with real money in your local to be used. Well if all people around the world would exchange their bitcoin holdings is it possible because bitcoin is being back up by real money?
Bitcoin is not supported by real money, but there is a big dependence on real money and the ability to change the crypto currency for real money, because the only way to spend your profits is to exchange for fiat money.