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?
This worry of yours too has happened in my country when the Government has prohibited all Banks from dealing in any form of transaction that is cryptocurrency-related but this shouldn't be any worry since the Government did not outrightly ban cryptocurrencies in general in the country, so because of this, cryptocurrency traders are still engaged in P2P trading from just about every exchange and fiat is just been transferred between bank accounts. I believe this is the best alternative as long as you don't have a total Ban in your country and I believe it will be here for as long as cryptos are been traded.