Ok, that is incorrect. Your B$s only convert to real money by playing in raked money games.
Chip, they are not entirely useless. I have play many a 3 hour sessions and made an extra $5-10. Not huge cash, but it's money on top of whatever I'm taking at the tables from other people. Tedious and take long to get, but I'm going to play poker anyway, might as well be earning some type of cash, little as it may be, on top of just taking OPM (other people's money
)