Your merchants just convert it to fiat it's an illusion.

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They don't.

It's a bad take. Even if they did - The rails are still evolving and would be a win regardless.

How do they pay their suppliers?

How stable are their Bitcoin prices?

They can’t convert it without finding another person that wants bitcoin. So they are using bitcoin to get what they want. Your negativity can’t stop bitcoin.

> finding another person that wants bitcoin

Apparently exchanges exist. That's where the fiat price of Bitcoin comes from that you're drooling over every day.

"Bitcoin payment service providers" will even do it for you behind the scenes so all you ever get to see as a merchant is fiat.