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?
It seems to me that yes. It is possible that bitcoin is being back up by real money. Even though its still illegal in some countries there are tools that you can used to convert money to your native currency oncw you need it. For me, bitcoin is a long term investment because as long as you store it the more it increase it value, depends on the market price though.