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?
Seeing the current adoption rate I am somehow optimistic that most of the countries will take a positive step towards its regulation and you will have no problem converting them to cash.We have seen that now banks are also providing crypto custodial service to the customer and many many btc ETF have been established worth billion of dollars.But with the countries lacking oversight exponential powers you can trade it via P2P methods and get fiat for it.The other way is out to look for someone who accepts bitcoin and will help you to purchase any stuff of your choice.But near future is of btc and you would convert fiat to btc so keep that word.