Bitcoin used for its actual purpose - page 2.

Kprawn

legendary

Activity: 1904

Merit: 1074

Here in my country I can make use of payment processors and basically buy anything that other people can buy with cash.

We also have pubs, where we build a tab and then drink until the tab is filled. {just work better to reduce the miners fees, not

to charge per transaction... but this has to be pre-arranged with the pub owner} There are also tons of things that you can

buy on the Dark Web with bitcoins. Grin

ukw

sr. member

Activity: 616

Merit: 250

I think that in many countries in Europe there are places (cafes, restaurants, shops, etc.) who accept payment with cryptocurrencies.

Metherry

newbie

Activity: 42

Merit: 0

bitcoin is investment coin more than buying. people use bitcoin to invest it and sell it when price rising.
Thus, many are betting on the future and that the currency will have a bright future, or what is known as a store of value.

i know too many coffee shops stop accepting bitcoin because no one ready to send them bitcoins with very high fee for buying coffee.

The more people know about digital currencies, they will appear using the dollar for daily use, but this depends on fees and the extent of fluctuations.

i think only Venezuela use bitcoin as currency.

Tapyaks72

member

Activity: 490

Merit: 28

Quote from: jseverson on January 18, 2018, 01:34:50 AM

Quote from: ipanks on January 17, 2018, 10:43:25 PM

Quote from: worldtraveller321 on January 17, 2018, 10:09:55 PM

Where in world are people actually using BTC for purchase vs rest of us who invest and trade.
i know there are small business in USA like coffee shops for now
also know in Venezuela since their currency crashed people buying things amongst each other using BTC
where else in world is it being used as a currency?

in my country especially in Bali, bitcoin use as a payment at a local store but unfortunately, I don't have the experience about this and maybe later if I am visiting Bali, I will take the chance to pay a cup of coffee with bitcoin. but in the rest city, I don't think that bitcoin is used as the payment. but personally, I use bitcoin to withdraw to fiat and sometimes I used bitcoin to buy electricity tokens with bitcoin. I heard in Jogjakarta, bitcoin is used as a payment for a coffee but unfortunately, I cannot find that cafe.

I hate to break it to you, but paying in Bitcoin is already banned in Indonesia. It seems to be especially strict in Bali. You may read up on it here:

http://www.thejakartapost.com/news/2018/01/15/bank-indonesia-police-prevent-bitcoin-transactions-in-bali.html

It's interesting how you mentioned Bali, and that's exactly where the crackdown is. Is Bitcoin trading really that proliferate there? I know Bali attracts a lot of tourists all over the world, and they may be foregoing buying your national currency because they can get away with Bitcoin payments. That could be why your government is upset about the whole thing. It would be great if we could have a local's input on this.

Yeah hopefully this is not true, anyway this country was not able to perceived what is good things about BTC, it just like your country having many dollars coming in into their economy. in our country BTC is a welcome development.For a country that were a lot of overseas workers because bitcoin is a good medium for money remittances since it is economical and fast.

West0813

full member

Activity: 504

Merit: 100

So far here in our country i don't know anyone or any business that are accepting bitcoin as a mode of payment. But i hope in the future there is a business that will accept bitcoin as payment to their service.

deciphertron

newbie

Activity: 17

Merit: 0

Some online business is already accepting bitcoin as payment. But the problem I think is the security of bitcoin users which their bitcoin wallet is very volatile to hackers. But these feature can be improved I guess, I do believe that most BTC Exchanger sites are working on it. Maybe in few months or a year bitcoin will be popular and be accepted even buying on retail stores.

nedeken01

newbie

Activity: 98

Merit: 0

The main purpose of bitcoin when its created by Satoshi Nakamoto is for Bitcoin to be used as a payment, in Japan bitcoin is legalized and free for people to use, the only 2 thing i noticed just recently is the slow transaction and a high transaction fee which could make people run from btc.

Clifmeister

jr. member

Activity: 97

Merit: 2

Good point... Sad how Indonesia has banned Bitcoin trading instead of making a way to get it taxed..

jseverson

hero member

Activity: 1834

Merit: 759

Quote from: ipanks on January 17, 2018, 10:43:25 PM

Quote from: worldtraveller321 on January 17, 2018, 10:09:55 PM

Where in world are people actually using BTC for purchase vs rest of us who invest and trade.
i know there are small business in USA like coffee shops for now
also know in Venezuela since their currency crashed people buying things amongst each other using BTC
where else in world is it being used as a currency?

in my country especially in Bali, bitcoin use as a payment at a local store but unfortunately, I don't have the experience about this and maybe later if I am visiting Bali, I will take the chance to pay a cup of coffee with bitcoin. but in the rest city, I don't think that bitcoin is used as the payment. but personally, I use bitcoin to withdraw to fiat and sometimes I used bitcoin to buy electricity tokens with bitcoin. I heard in Jogjakarta, bitcoin is used as a payment for a coffee but unfortunately, I cannot find that cafe.

I hate to break it to you, but paying in Bitcoin is already banned in Indonesia. It seems to be especially strict in Bali. You may read up on it here:

http://www.thejakartapost.com/news/2018/01/15/bank-indonesia-police-prevent-bitcoin-transactions-in-bali.html

It's interesting how you mentioned Bali, and that's exactly where the crackdown is. Is Bitcoin trading really that proliferate there? I know Bali attracts a lot of tourists all over the world, and they may be foregoing buying your national currency because they can get away with Bitcoin payments. That could be why your government is upset about the whole thing. It would be great if we could have a local's input on this.

asus09

sr. member

Activity: 1344

Merit: 270

unlike what you think, I think bitcoin will only be an alternative means of payment in some countries. perhaps in the future, there will be many countries that involve crypto for an alternative means of transaction. yes i believe it. currently the development of bitcoin is quite rapid, in the future there will be many innovations involving bitcoin and other crypto.

chiggz

sr. member

Activity: 434

Merit: 252

Quote from: virendarnagpal on January 17, 2018, 11:35:08 PM

I live in one small Indian city. My experience here is that people are using bitcoin just for investment purposes with the single motive of earning higher returns on price hikes. Most of the shopkeepers here will not accept payment if offered in bitcoin. May be in big cities like New Delhi; Mumbai; Chennai etc people may be using bitcoin as payment because there people are economically; educationally; very much forward so they must be using it as mode of payment in addition to investment purposes.

But now more and more people are getting connected to bitcoin so in very near future I expect that most of the Indians will be using bitcoin as payment mode in addition to investment purpose.

You are right and wrong. Indian people just think about investment and getting rick quicker. Hardly anyone knows how Bitcoin works here or its real world case. I live in Bangalore and there is like one restaurant here that accepts Bitcoin now which I doubt if they are still doing it. But a lot of seminars and meetups are being held by Techies on Blockchain technology and how the same can be implemented for real world use cases which I feel is a right step taken. On the contrary Bitcoin was mainly created as a decentralized currency. But due to its scaling issues I don't think anyone would use it that way though. Also the fee in Dollar is like $10 which translates to almost rs 600 which is the daily wage of a Indian common man:(

want0606

newbie

Activity: 25

Merit: 0

yes i agree bitcoin is used for real purpose. To pay faster and safer. Bitcoin is also used to invest for profit purposes. You can use it for other purposes such as business or travel

Shamie1002

full member

Activity: 406

Merit: 102

https://99bitcoins.com/who-accepts-bitcoins-payment-companies-stores-take-bitcoins/

I already posted this link before. I just don't have proofs that they do accept bitcoins.
What are the odds.

Also, I think bitcoin is made for its purpose and the income thing is just bonuses here. I think the income part is one way of gaining amount of bitcoin for everyone and make it more accessible.

In our country, it is made for OFWs to have cheaper and faster transactions to serve families.
And the wallet here are credited to be connected to particular schools, banks and remittances to make payments easier.
I am still hoping that it will be extended in other programs and markets.

Sunnyyy

jr. member

Activity: 118

Merit: 2

Yes, I am sure that it will be served for the real purpose. You can use it for payment purposes, use it to pay for your studies, travel, and many other services. I think in the future there will be ways to make bitcoin payments faster and more efficient

pooya87

legendary

Activity: 3472

Merit: 10611

just because you haven't checked out how many hundreds of thousands of merchants online and offline have been accepting bitcoin, that doesn't mean they don't exist. it just means you had your head in the sand so far and couldn't see anything.
currently high fees have killed almost all of these but i am sure as soon as fees come down they will all restart as before. and it doesn't matter how some people try to change the "purpose" of bitcoin, in the end it is only powerful because it is a currency.

amrulshare

hero member

Activity: 1316

Merit: 546

Monday Hit Me Every week

Quote from: ipanks on January 17, 2018, 10:43:25 PM

Quote from: worldtraveller321 on January 17, 2018, 10:09:55 PM

Where in world are people actually using BTC for purchase vs rest of us who invest and trade.
i know there are small business in USA like coffee shops for now
also know in Venezuela since their currency crashed people buying things amongst each other using BTC
where else in world is it being used as a currency?

in my country especially in Bali, bitcoin use as a payment at a local store but unfortunately, I don't have the experience about this and maybe later if I am visiting Bali, I will take the chance to pay a cup of coffee with bitcoin. but in the rest city, I don't think that bitcoin is used as the payment. but personally, I use bitcoin to withdraw to fiat and sometimes I used bitcoin to buy electricity tokens with bitcoin. I heard in Jogjakarta, bitcoin is used as a payment for a coffee but unfortunately, I cannot find that cafe.

now, the payment via virtual currency crypto has been banned by the government, if you think to try it, you will have big problems even you will be in jail for that. so you are useless to visit Bali just to try it

EternalPropagation

newbie

Activity: 20

Merit: 0

Because BTC is so illiquid it's a good asset to use as collateral against loans of more liquid assets (like XRB or XLM)

yonjitsu

full member

Activity: 476

Merit: 100

www.daxico.com

Some entities are already accepting bitcoin as payment for their goods and services and not only bitcoin because other alternate coins are also used on the same purpose. The only thing that is so discouraging is when people used it for their shady activities which gives a bad reputation for bitcoin and to the rest of alternate coins.

airdagon

member

Activity: 546

Merit: 17

Quote from: worldtraveller321 on January 17, 2018, 10:09:55 PM

Where in world are people actually using BTC for purchase vs rest of us who invest and trade.
i know there are small business in USA like coffee shops for now
also know in Venezuela since their currency crashed people buying things amongst each other using BTC
where else in world is it being used as a currency?

bitcoin is one example of a very good place to store an asset and a means of exchange of payment, so it's no strange to hear this sort of thing. bitcoin is very interesting for people who like to use it or for people who have long plunged in bitcoin world.

virendarnagpal

member

Activity: 672

Merit: 12

I live in one small Indian city. My experience here is that people are using bitcoin just for investment purposes with the single motive of earning higher returns on price hikes. Most of the shopkeepers here will not accept payment if offered in bitcoin. May be in big cities like New Delhi; Mumbai; Chennai etc people may be using bitcoin as payment because there people are economically; educationally; very much forward so they must be using it as mode of payment in addition to investment purposes.

But now more and more people are getting connected to bitcoin so in very near future I expect that most of the Indians will be using bitcoin as payment mode in addition to investment purpose.

Topic: Bitcoin used for its actual purpose - page 2. (Read 452 times)