Topic: Bitcoin as a legal tender OR pay with BTC and get REAL goods. (Read 281 times)
It is difficult to talk about specific income, because it is too individual. But from personal experience I can say that I pay my hosting provider services via BTC, as well as some subscriptions.
Tell me of your experience in buying goods or services IRL for Bitcoin, please. Like I did purchased ProtonVPN service with BTC for example. I'm interested in total revenue one may get using Bitcoin as a legal tender or money per se.
I manage to purchase a premium spotify and netflix account using Bitcoin on a local seller in our country. I don’t what’s his total revenue but he is keeping his Bitcoin as in his wallet. He has a lot of customer here in our country since this account is in demand due to its cheap price compared to the original account. He gets the account using CC trick to purchase the account subscription then he will resell it using Bitcoin as mode of payment.I believe he already earned a hefty amount of money since he is doing this kind of business since 2017 when Bitcoin become popular here in my country.
And he kept doing that all the time and that wasn't just amazon gift cards, he had netflix, spotify, disney plus, iptv and many other things as well, all digital stuff basically, and he made a killing. He was making 3-4k a month in profits. Bitcoin is amazing for that kind of job.
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The potential of Bitcoin is that you can buy goods anywhere in the world at any time without worrying about whether the payment circuit is accepted or not, because Bitcoin knows no borders. It is also the only payment system that can be used for micro payments, the classic banking circuits could not meet this challenge.
I agree with you completely, Bitcoin, whether as a legal tender or means of payments for goods online is still the same thing, Bitcoin right now is the best means through which we can pay for goods even outside our country of origin, and have whatever we paid for shipped to our doorstep easily.The other day, I wanted to buy a wrist watch from Aliexpress, I was ready to make payment in bitcoin but was very disappointed that the supplier does not yet accept bitcoin payments, but on the other hand, I am not bothered for I know that it is just a matter of time, they will all embrace bitcoin payments.
I did use bitcoin a lot to buy goods many years ago and also tried many times to get the community to use bitcoin more in real live, but this failed quite hard. What is the general issue of the community is that people here are greedy AF. They want to have bitcoin and have a good ecosystem, but the want not to spend a single bitcoin (except for gambling maybe).THis will be the downfall of bitcoin at one day Im very sure of that, but thats what the community wants.
Maybe there are reasons on why they can't use Bitcoin in real life. It can be that Bitcoin on their country is not a legal tender yet. I know it is still possible for a merchant to accept Bitcoins but what if Bitcoin in their country is only legal as means of asset and not as a currency? There are instances who are like that. If one won't follow a simple protocol like this, they can be in serious trouble.The community doesn't want Bitcoin to fall down and strongly hodling their Bitcoins does not make that happen but it will only make Bitcoin more stronger especially if they team it up with buying. I suggest don't stress your self too much on them because at the end of the day, that was still their money and they are free to do want they want with it.
Tell me of your experience in buying goods or services IRL for Bitcoin, please. Like I did purchased ProtonVPN service with BTC for example. I'm interested in total revenue one may get using Bitcoin as a legal tender or money per se.
I manage to purchase a premium spotify and netflix account using Bitcoin on a local seller in our country. I don’t what’s his total revenue but he is keeping his Bitcoin as in his wallet. He has a lot of customer here in our country since this account is in demand due to its cheap price compared to the original account. He gets the account using CC trick to purchase the account subscription then he will resell it using Bitcoin as mode of payment.
I believe he already earned a hefty amount of money since he is doing this kind of business since 2017 when Bitcoin become popular here in my country.
I think the list could be very big if we started to work on it. First of all, there comes online or e-commerce businesses who have started accepting the bitcoin as payment method since long time. The sub part of the same falls with third party payment processors. I think coinbase already has an API which can be integrated on any website so as to accept the payments in bitcoin. Moreover they also embedded code for various alts along with after the fact that bitcoin was little slow sometimes.
Moreover, there are broker firms which deal with real estate business and can easily accept the payment in bitcoin.
I can already read through various posts that there are sited which can help you get gift cards for established brands and thus spend money that way.
Moreover, there are broker firms which deal with real estate business and can easily accept the payment in bitcoin.
I can already read through various posts that there are sited which can help you get gift cards for established brands and thus spend money that way.
Well, some businesses have started accepting Bitcoin as a form of payment, and in some cases, customers can even use BTC to buy things like groceries or electronics. In my opinion, this is a great way for people to get more involved in the cryptocurrency market and start using their digital assets in a more practical way.
However, there are also some challenges to this approach. For example, the value of Bitcoin can be highly volatile, meaning businesses and consumers need to be prepared for fluctuations in the prices of goods and services. Additionally, there are still several legal and regulatory issues that need to be resolved before Bitcoin can become a more mainstream form of payment.
I think, one potential solution to this challenge is for businesses and consumers to use stablecoins, which are cryptocurrencies pegged to the value of traditional currencies such as the US dollar. This can help mitigate some of the risks associated with using Bitcoin for everyday transactions, while still allowing people to take advantage of the digital currency's benefits.
However, there are also some challenges to this approach. For example, the value of Bitcoin can be highly volatile, meaning businesses and consumers need to be prepared for fluctuations in the prices of goods and services. Additionally, there are still several legal and regulatory issues that need to be resolved before Bitcoin can become a more mainstream form of payment.
I think, one potential solution to this challenge is for businesses and consumers to use stablecoins, which are cryptocurrencies pegged to the value of traditional currencies such as the US dollar. This can help mitigate some of the risks associated with using Bitcoin for everyday transactions, while still allowing people to take advantage of the digital currency's benefits.
Tell me of your experience in buying goods or services IRL for Bitcoin, please. Like I did purchased ProtonVPN service with BTC for example.
I have purchased many things, but online. And I have sold goods for Bitcoin (Other crypto included). I used to accept Bitcoin as a payment method for selling rice. It was a great experience to have. But unfortunately, I had to stop that because of some legal issue in my country. So this was my experience in real life buying and selling goods for Bitcoin. I hope I can do it again someday. The day will come that's for sure.
I did use bitcoin a lot to buy goods many years ago and also tried many times to get the community to use bitcoin more in real live, but this failed quite hard. What is the general issue of the community is that people here are greedy AF. They want to have bitcoin and have a good ecosystem, but the want not to spend a single bitcoin (except for gambling maybe).THis will be the downfall of bitcoin at one day Im very sure of that, but thats what the community wants.
Personally, I haven't had much experience using Bitcoin for real-life purchases. However, I have heard of others who have bought everything from cars to coffee with Bitcoin. In fact, there are even websites and apps that specialize in helping people find businesses that accept Bitcoin as payment.
Then, as for the impact on revenue, it really depends on the individual situation. If you're a business that accepts Bitcoin as payment, you may be able to attract a new customer base that values the privacy and security of using cryptocurrency.
However, it's important to note that the value of Bitcoin can be volatile, so there is some risk involved in accepting it as payment. So, I think using Bitcoin as a legal tender or money per se is an interesting concept with potential benefits and challenges.
Then, as for the impact on revenue, it really depends on the individual situation. If you're a business that accepts Bitcoin as payment, you may be able to attract a new customer base that values the privacy and security of using cryptocurrency.
However, it's important to note that the value of Bitcoin can be volatile, so there is some risk involved in accepting it as payment. So, I think using Bitcoin as a legal tender or money per se is an interesting concept with potential benefits and challenges.
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Don't you think that paying for a cup of coffee with half of the price and spending another half to the fee is a bit overwhelming experience after all? What is the fee change since the time of Great Pizza Buy? Is it declining?
Don't you think that paying for a cup of coffee with half of the price and spending another half to the fee is a bit overwhelming experience after all? What is the fee change since the time of Great Pizza Buy? Is it declining?
This is the pizza transaction: https://mempool.space/block/57043
Total fees: 0.99 BTC
That's quite a large fee. Nowadays you can pay close to zero with lightning, or on-chain here's a recent transaction for about $5 (a coffee) with a fee of 20 cents or so: https://mempool.space/tx/8fe16f5e9aee05dcac630f01b9b184f9e00b3dfab5ee2142cdfcdbb930d3490a
That's actually less than the fees credit cards impose on sellers (30c plus 2.9%)
Don't you think that paying for a cup of coffee with half of the price and spending another half to the fee is a bit overwhelming experience after all? What is the fee change since the time of Great Pizza Buy? Is it declining?
Miner fees would depend on some factors and hence situational but as a general thought, I would say it's not as bad as before- talking about around 2017. Furthermore, if discounts are offered, people are more likely to opt for a bitcoin payment but half the price is perhaps too much? as businesses still have to profit.
... And you also can't forget transaction fees that might be too much for people.
...And even problems with transaction fees could be solved with the lightning network.
...
Don't you think that paying for a cup of coffee with half of the price and spending another half to the fee is a bit overwhelming experience after all? What is the fee change since the time of Great Pizza Buy? Is it declining? ...And even problems with transaction fees could be solved with the lightning network.
...
I think we will come to bitcoin being a legal tender some day. Right now everything still moves slowly and some countries still fully ignore bitcoin and crypto. And not enough people know about bitcoin enough to use it. And you also can't forget transaction fees that might be too much for people.
But all these problems will be dealt with. Governments already become aware of crypto, and many businesses want to adopt it, and more people know about bitcoin every day. And even problems with transaction fees could be solved with the lightning network.
Overall, the fact that bitcoin IS the money of the future and a way for people to get real freedom and anonymity will push adoption. I think more and more people realize that they don't trust banks, especially after what happened to Credit Suisse.
But all these problems will be dealt with. Governments already become aware of crypto, and many businesses want to adopt it, and more people know about bitcoin every day. And even problems with transaction fees could be solved with the lightning network.
Overall, the fact that bitcoin IS the money of the future and a way for people to get real freedom and anonymity will push adoption. I think more and more people realize that they don't trust banks, especially after what happened to Credit Suisse.
Tell me of your experience in buying goods or services IRL for Bitcoin, please. Like I did purchased ProtonVPN service with BTC for example. I'm interested in total revenue one may get using Bitcoin as a legal tender or money per se.
Even though I like to hodl, sometimes it's just very convenient to pay in BTC.
You should check the collectibles board, most auctions and deals are paid in BTC.
Personally I have used BTC to use a food-delivery service, pay some smaller online purchases (mostly via Bitpay) and even once paid at a local coffee shop that accepted some crypto.
All are easy and convenient experiences.
I prefer to use Bitcoin for online transactions, but unfortunately, my country does not accept it. In fact, Bitcoin is strictly prohibited here, leaving me with no option to use it. Instead, I have to convert it to fiat currency through the black market or peer-to-peer transactions and then use it for purchasing goods. While the fees associated with are high, it is still a better option. However, I feel more secure when making payments with Bitcoin, as I am hesitant to enter my card credentials into online sites. Overall, paying with Bitcoin is a simpler process for me.
Bitcoin really is much better to send and receive money.
There are so many hacks these days with credit cards that yeah, it might make more sense to use Bitcoin instead of having your credit card details at random stores.
I prefer to use Bitcoin for online transactions, but unfortunately, my country does not accept it. In fact, Bitcoin is strictly prohibited here, leaving me with no option to use it. Instead, I have to convert it to fiat currency through the black market or peer-to-peer transactions and then use it for purchasing goods. While the fees associated with are high, it is still a better option. However, I feel more secure when making payments with Bitcoin, as I am hesitant to enter my card credentials into online sites. Overall, paying with Bitcoin is a simpler process for me.
I heard on this forum some time ago that my country has a clothing line that accepts bitcoin, I can't remember the name now as a means of payment but I haven't had the access to buy anything with bitcoin itself, looking forward to a day I will work in a grocery store in my country and asked for their bitcoin wallet and make the payment to their wallet.
Who accepts Bitcoin?
250+ companies & stores that accept cryptocurrency - https://bitpay.com/directory/
250+ companies & stores that accept cryptocurrency - https://bitpay.com/directory/
Plus two whole countries, El Salvador and Central African Republic.
Who accepts Bitcoin?
250+ companies & stores that accept cryptocurrency - https://bitpay.com/directory/
250+ companies & stores that accept cryptocurrency - https://bitpay.com/directory/
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