> I thought this is what we were trying to avoid in the first place.
Well, yes. Doing anything with USD (or most other currencies) is a complete nightmare, especially including converting them to other currencies.
The goal is that eventually you might want to accept some or all of your pay as bitcoin, which would've been paid to your employer as bitcoin, and thus the loop is closed and nobody has to implement any KYC procedures. Converting from <currency> to bitcoin to pay somebody for them to turn it back into <currency> suffers from all the legal issues that affect <currency> - which should be obvious.
Also obvious is that this will pretty much never happen on any large scale, rendering bitcoin near-worthless for most people.
I should clarify I was not looking for fiat money at any point, I just wanted to check the Coinbase price at that moment. I don't think I have used the account since I last referred a friend a couple of months ago.
Now, even if I wanted to use their wallet or vault, I can't. That's not a bad thing in my mind though.
The issue is that you need a large amount of people to be using bitcoin - enough that some significant amount of them will pay your company in bitcoin - before you can start offering to pay your employees in the bitcoin you receive... and significant amounts of people are unlikely to use bitcoin until they're being paid in it.
Well, yes. Doing anything with USD (or most other currencies) is a complete nightmare, especially including converting them to other currencies.
The goal is that eventually you might want to accept some or all of your pay as bitcoin, which would've been paid to your employer as bitcoin, and thus the loop is closed and nobody has to implement any KYC procedures. Converting from <currency> to bitcoin to pay somebody for them to turn it back into <currency> suffers from all the legal issues that affect <currency> - which should be obvious.
Also obvious is that this will pretty much never happen on any large scale, rendering bitcoin near-worthless for most people.