Topic: Buying food or groceries with Bitcoin - page 3. (Read 1609 times)

That’s how it is in most places man, especially with countries that are still developing in some areas, because they are not ready for all these things. Just chill, it takes time and before you know it things will start coming in place. Even where I live, it’s the same. I hardly meet people that are interested in cryptocurrency, not to talk of being into it and investing, they just prefer to make use of cash. And when it comes to digital, most of them usually prefers PayPal, using their debit cards (MasterCard and Visa), or their mobile banking app. But I know for sure that with time they will get into it.

Buying  foods and groceries with bitcoin is maybe a dream in my country, because at this point of time we need to convert first the bitcoin to fiat before we can buy everything, i think bitcoin will be used as a direct payment in the near future but for now we need to convert it first before we can used it as payment for foods.

Digital money are being used since the pandemic virus arrived, but it's not only bitcoin
since there are lots of available digital money.
consumer can use to deal and transact for buying their foods and other needs.
Although bitcoin share portions of it.
But not that much, there are many businesses that continue to hold adopting this
payment process.

Why don’t you just be making use of it in places where it’s being accepted? Maybe if you want to buy some furniture and stuffs like that for your home, you have overstock and they are accepting Bitcoin. If you want to buy computer gadgets and some things like that, we also have other websites and there is Purse where you can get lots of things through Amazon.

So don’t worry about restaurants that are not accepting Bitcoin, it has not reached to that level, when it does you will also be able to pay at restaurants with it. As time goes on some restaurants might open up websites so that you can pay for your meal upfront using Bitcoin before you arrive their restaurant.

But not all country are open for this and only limited stores are accepting bitcoin as payment. In our country bitcoin can be use as payment method to pay your bills rather than payments for goods like groceries. If ever this way will spread in many places of different country ,i think bitcoin will become more useful this of pandemic on which the virus are continuously spreading until now.

Did you all know that the bitcoin increased its popularity all over the world during this pandemic?  After the WHO announced that the virus can spread through fiat money. Online transaction are became the daily usage of many people. The current payment system is now changing and many people are excited to see that many businesses especially groceries will accept bitcoin as payment.

I guess there might be a chance for bitcoin to be used to buy food or groceries. In fact, I guess there are a few small merchants who do accept this cryptocurrency as a payment method. However, I do not think that using bitcoin is more convenient than credit cards or other Fiat cards. Since the international visa system develops, there are many rewards and cashback which are very necessary for those buying many things 

In the next few years, we has a chance to witness a spike move from traditional payment to cryptocurrency payment. But after that, people need to do a lot of thing to prove that bitcoin is suitable to join the world payment system

I agree on your first point as a form of transaction towards goods and services it will take more time because trust matters here, In this digital age people are slowly moving on new era like transactions are happening in finger tip at the same time things will change in quick time like BTC will start dominating.

BTCs popularity will increase when commodities happen easily with BTC similarly gold, real estate etc. If this happens I am sure BTC will become a gem.

I don't get it mate?

What does it mean that people need to convert to fiat when the topic says using crypto to pay for goods and services?

People need not to convert because  the payments will be directly using crypto from our wallets.

Actually this is happening in  japan and other country now and even some small businesses are also accepting Bitcoin now using QRcode scanning  transaction has been already in action these days of ours.

I think it's still to early for Bitcoin to be used as a form of transaction towards goods and services because in the end people will convert it to Fiat doing no benefit to Bitcoin at all.
I prefer Bitcoin as of now an asset for wealth, a safe haven for investors against inflation and unstable stock market.

Good point. It's like paying with Gold for good and services. We all know that Gold is volatile in price, just like any other precious metal on the market. Bitcoin is no exception. The best way to spend crypto at mainstream merchants and businesses right now is through a stablecoin. Coins of these type maintain their value of $1 USD per coin (most of the times), making them an excellent alternative towards traditional Fiat. I'm sure that someday we'll be able to see supermarkets accepting stablecoins for the benefit of all. Stablecoins are much faster and cheaper than Bitcoin itself. This, alongside their stable prices on the market, make them the ideal choice for the decentralized economy.

Nonetheless, the high demand for crypto payments in the mainstream world, could result in more merchants and businesses accepting it as payment method. I'd sometimes wish that Walmart, Amazon, and some other renowned companies would accept crypto in the mainstream world. They would certainly make crypto viral, resulting in higher prices on the market. Ultimately, what matters is usability rather than the price per coin. Bitcoin is useful, but not ideal for payments of large scale. The Lightning Network aims to solve this problem, but it has a long way to go before it's considered "perfect". Just my opinion

Why so? We can use bitcoin to make any payments irrespective of it's speed. If I owned a restaurant and I accept bitcoin, I wont have to hold down my customers because I haven't fully received the bitcoins in my wallet. I mean; Just 1 confirmation should be enough to know that the transaction will be successful. My thoughts tho.

When i see this topic hood im remembering the guy who buys pizza with 10.000 bitcoin..

Thats really amazing. 92.290.700,00 dollars for a 2 pizza . (current price)

But if we could be able to buy foods with bitcoin in this time , it would be very slow because as you know bitcoin transaction time
is slow. We should use altcoins for it like eth or ltc.

Unless you're desperate I can't see a time when anyone will want to spend their hoard on consumables. It's simply not how humans are programmed.

Imagine paying 50 BTC for a tank of gas in 2011. You got 3-400 miles of forward motion vs a very nice house a few years later.

There'll come a time where the gains are much lower but it'll still always deflate. It'll be the very last thing you want to spend on everyday trivialities.

In my own idea, one important problem about buying food or stuff from market with Bitcoin is the long transaction time for rather small amount of money comparing to fiat. I mean, of course when you are talking about transferring millions of dollars Bitcoin is much faster comparing to fiat. But, regarding to small transactions like 5-10 usd you will to wait for a few seconds or minutes, Otherwise, you will need to pay huge transaction fee for your small money you are going to pay. However I guess, there will be a solution for this real soon when some more supermarkets accept Bitcoins as a payment method.

Well i think sooner or later we will see more and more services starting to accept bitcoin for their goods as it has been gaining popularity for a long time and some services have already started accepting btc as a payment option. Even though it has become more popular there are still a lot of people who have a little to no idea about bitcoins and I'm pretty sure there are people who don't trust btc completely as of now, I think these people, once they have enough knowledge (if) about btc might start using it. But we'll have to wait and watch.

Most of us have expectations that can considered  too high towards cryptocurrencies and the future payment system because we programmed to say so. There are a lot of people who are focusing on future than on present and it is the wrong part because what we focus on present, it expands that it will become our future. Many people says bitcoin will become the future payment system but all of them are not spending their bitcoin and just holding it. There is some contradicting sentence that I keep seeing. Anyway, as long as we patronize bitcoin and other cryptocurrencies; for sure it has a good future so expect that its value will rise soon.

I don't "think" that in the future it'll be possible to pay at a restaurant using bitcoin; I "know" that it will happen! That is if only it isn't already happening in some part of the world cause I remember a post someone made about how he paid for something in a local store using bitcoin.

About grocery it is yet to come to real too in every aspect of the country. I think it is possible already to transfer btc to pay for commodities and grocery for someone living in another country. Bitcoin fee is lower for large transactions if compared to pay in bank.

Sure, in time Bitcoin can be used anywhere. The reason why Bitcoin is not yet used as a medium of payment is that it is still viewed as a store of value. Even in our country, there might be only a few merchants or stalls who accept crypto since mass adaptation or cryptocurrency knowledge or awareness is small.

It would be a waste for some business to accept cryptocurrency with only a few users on it in an area.