I'm currently receiving some of my income in BTC, and I'm just holding it because I expect it will go up long term and so it is my savings.
But sometimes I'd like to be able to turn it into fiat for daily expenses. I can't yet pay my rent or buy my groceries with BTC (hopefully one day! but not today and not in the near future).
With banks in some countries blocking transactions from known exchanges is there a worry that one day it will become impractical to turn the BTC into fiat? Either just very hard to do, maybe street-corner-deals or at risk of getting your bank accounts frozen?
Do people think about this and have plans to work around these kinds of banking barriers? Or are there ways around it already but I'm not aware?
It is a great plan to leave some of your savings in btc as an investment for the long term. It shows how prepared you are for the future.
While it is actually possible that the banks would, in the future, ban cryptocurrencies transactions, there's no way the banks can ban P2P transactions.
P2P is what early adopter of bitcoin and other cryptocurrencies use before exchanges that allow direct deposit of fiat currencies come into play. The only disadvantage is that it requires that you find a reliable person to exchange with.