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If I convert bitcoins into other currency, does it change the overall theoretical availability of bitcoins?
A Florida man bought a Tesla Model S car from a dealership in California, using bitcoins. The parties agreed on a third-party intermediary who converted the bitcoins into US Federal Reserve Notes.
Got me thinking: The originators of Bitcoin have said there's a cap on the maximum number of bitcoins that can be created. But if a holder of bitcoins chooses to trade them for another currency, do those bitcoins "go away" forever once they are converted into dollars, kroner, baht, what have you?
Anyone know?
1 Answer
- 7 years agoFavorite Answer
No. Like any other currency, the bitcoins you use in trade simply go to another owner. In your case, the third party ended up with the bitcoins.
