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?
In some countries yes, it is may be quite an unpleasant problem to cash out Bitcoin. In some countries there are limitations in amount to cash out. In most cases people hodl or use Bitcoin directly without cashing it out. But as for my country for example there are also no services where I can use BTC. And there are limits in case I would use my bank account. Mostly it is because of taxes. People do not want to pay high taxes or declare their crypto.