Topic: Buying food or groceries with Bitcoin (Read 1609 times)

The development is very good and more and more people want to get involved with bitcoin because they have realized that besides being profitable, bitcoin can also be used as a purchase transaction that can help users easily and comfortably.
unlike in the country where I live because I have not found a transaction that uses bitcoin, but I believe that sooner or later bitcoin can be accepted evenly throughout the country and only takes time.

This is definitely good news.The use of Bitcoin is increasing day by day and it is normal that it will increase even more.Bitcoin is being legalized as liquid money by the governments of many countries.It can be used to transact at ATMs.I think its use will increase a lot in the future.

Due to pandemic situation most of the people’s are very interested to buy their necessary goods through using via cashless payment method. Specially grocery items are too much essential when lockdown period. Still now i didn’t heard a physical store accepted Bitcoin it’s rare. But definitely i'm looking forward to see this good moment.                    

In my viewpoint, the possibilities of this occurrence are very intense. Because not everyone can triumph this technique. It is not possible to say whether it will be vacant everywhere. Since Bitcoin is not yet valid in all countries in the world, it can be said that the matter of selling food products is far away. Again, its price is not remedied. First of all, we have to see how sizably Bitcoin is widening.

We know how to use Bitcoin and we know its advantages and disadvantages. Sadly Bitcoin has an impediment: the laws. There are governments that do not accept that their citizens use it and the nations that accept it are developing measures to tax for their use.

Bitcoin is on the peak. At the same time, demand is intensifying. Regardless, it has not been legalized in all countries. But hopefully, it will deliberately gain legitimacy. Then - it will be conceivable to do everything like buying food or groceries.

There is pros and cons for sure since some people don't know yet what bitcoin can really offer. Bitcoin can possibly be used in buying food the problem that we might encounter the fees since its values is volatile. Well in my view using bitcoin could really help so in the future there is an increase in adoption.

It is just their matter of choice as well as taking of the risk, even if I started my own business, Bitcoin will be the last thing in my mind to adopt unless I go full e-shop where I don't any digital wallets. Digital payment system is quite strict with their KYC policies, that's why Bitcoin comes into my mind into this.

I guess government would just waste their time finding ways to put up laws in cryptos especially Bitcoin, but I doubt they'll do.
Maybe how people will be able to cash it out probably.

Bitcoin will accept many countries and it is not accepted the goods and regular accessories products. Because global currency will accept entire world so USD is the king of currency. But Bitcoin is the king of cryptocurrency so once it will  be globalized, automatically it will accept anywhere and anyplace. Most of the countries gradually take a good decision on Bitcoin so we some unbelievable acceptance.

Straight to the point from my perspective:

Bitcoin will not be the most used currency to buy goods directly. Most people like me, convert bitcoin to other crypto especially those that are available to the store if there is, to be used, which has a characteristic of low volatility, fast transaction confirmation and low fees.

Bitcoin today, even with the segwit upgrade for me didn't suffice store transactions.

We knew that there is more store are accepting bitcoin because they see the advatanges of accepting that kind of payment.
And it is really possible for the grocery to accept the bitcoin to buy foods , and it is really big help to bitcoin community because the price maybe rise.

But the problem with that what if bitcoin down the value and the store have a lot of bitcoins so they lose a lot but if it's rise the price they got a double profit if they want to accept bitcoin they need to accept the risk also .

Based on this, paying with Bitcoin would be like paying with Gold. A volatile cryptocurrency can never be used for mainstream commerce because it reduces the chances of profit. Merchants and businesses are better off using centralized stablecoins than Bitcoin because of its highly-fluctuating prices on the market. But who knows? If Bitcoin becomes extremely popular and widely adopted in the future, supermarkets and retail stores might be able to accept it as payment method. We already have centralized payment gateways which allows merchants to accept crypto transactions with ease. As the regulatory landscape for the crypto industry matures, we might be able to buy actual food or groceries using Bitcoin directly without having to convert it to Fiat, ever. Everything will depend on customer's demand for Bitcoin as payment method for in-store purchases. If demand for Bitcoin is high, then merchants and businesses will begin accepting it as payment method. Otherwise, using Bitcoin directly for food or groceries will be more of a dream than anything else.

Nonetheless, time will tell us what lies ahead for the future of Bitcoin and crypto as an alternative payment system towards traditional Fiat. Governments will play a key role in determining this future as they devise laws that would either stifle or stimulate the growth of the entire crypto industry. A regulatory-friendly landscape, alongside price stability on the market, will make Bitcoin and other cryptocurrencies more attractive to businesses and institutional investors. Just my thoughts

I sincerely believe that Bitcoin is the number one cryptocurrency in the world. But food and grocers will never accept it as a medium of exchange. Because its price is never stable. And no trader wants his business to lose. So they do not want to accept Bitcoin easily. But it is also true that at some point the price of bitcoin will stabilize and then all kinds of food shopkeepers will accept it.

Bitcoin is still very likely to be adopted more in the future as a legal payment tool in physical store, especially in countries that do not prohibit it. Although I cant use bitcoin as a legal payment tool when buying something in my country, I can still use it individually between user who agree to the payment system via bitcoin. Strict regulation for bitcoin in many countries will make it difficult to adopt bitcoin, but I am sure there will be many thing that will change in the future.

How do you pay with bitcoins in these stores that accepts bitcoins around you?? Is there a third party payment processor that they are using or are they just having that bitcoin wallet installed straight up in their devices. If they are straight up accepting bitcoin as a payment option without any third party payment processor then it is pretty good for bitcoin adaption as it will teach those shop owners also about bitcoins, but when a third party processor gets involved then they tend to hide the technical aspects of bitcoin and just tell the owners enough to safely transact and their percentage cut per transaction.

only certain countries can accept payments using Bitcoin for the purpose of buying food or groceries in the future. all of that goes back to the legality of each country to be able to formalize Bitcoin as a legitimate alternative payment, I think there will be many pros and cons if Bitcoin can be legalized worldwide because it can have an impact on traditional currencies

The problem is there, those who dare to take risks by accepting payments using bitcoin or other cryptocurrency are those who have large-scale businesses / organizations. Very large and fast fluctuations in value can be very detrimental and risky so this calculation and revenue management cannot cover the worst losses when accepting bitcoin payments. The absence of a third gate that facilitates this also becomes an obstacle because they cannot take too much risk and choose a local currency or FIAT to further reduce risk in doing business.

On the recent days, bitcoin was worth 9189 dollars and today, it is already at 9545 dollars.

Therefore, if we missed to buy carrots or potatoes in the market. We might see it on the other day, it is already a high price. Yes, it must be necessary for bitcoin to become stable first. But I think it is impossible to happen. Due to the scarce supply and great demand of bitcoin, there is always fluctuation to the market. Maybe, we can buy foods or we can groceries in the future. If fiat currency value will be removed.

Thanks for the advice. Since there are not many options available in the mainstream world for using Bitcoin to buy essential goods (food and groceries), it's best to focus on other important things. With crypto debit cards around, one could simply sell crypto "on-the-fly" to cash in order to buy almost anything with them (since most merchants and businesses accept Mastercard/VISA). Using crypto directly would've been better in order to avoid the middleman. But at least, this is a workaround for those willing to spend their crypto on life necessities.

It would be surprising to see major supermarkets and fast food chains accepting Bitcoin sometime in the future. If they decide to go this route, I believe they'll use the Lightning Network as it's more economically feasible than the main Blockchain. The only issue merchants and businesses would have to deal with is volatility. Stablecoins are a better option, but they're limited to the capacity of their underlying blockchain networks. Since most stablecoins live on the ETH blockchain, they'll eventually become expensive to use (high fees) and slow to process on the network. Which is why, I believe that the Lightning Network has a greater chance of being accepted in world commerce. Until widespread adoption for the LN becomes a reality, buying food and groceries with Bitcoin is will only be a dream. Just my opinion

The whole thing is summed up on lack of awareness and inadequate knowledge of P2P nature of Bitcoin and other altcoins. That's why it is best for everyone to expand the teaching and using it for payments it'd save you stress of failed fiat transactions and carrying physical cash all about, which is almost becoming irrelevant during this era of pandemic. I make purchase of data bundle and some other important bills through cryptocurrencies and the adoption is gradually coming to reality.