Topic: Buying food or groceries with Bitcoin - page 4. (Read 1609 times)

everytime all talks future and future but we are living in present so what do you want people to expect?
We all believe here in the future of cryptocurrency that is why we vested our money inside with no really assurance at all because of that said trust.

But never forget that not all people can eat without making problem about their potential investing.
This is reality of life so let those who has capacity to wait enjoy their investment.
and let those who want to make profit in daily basis choose their paths as well.

I don't think it will be feasible.

Even though we have seen people buying coffee and other small stuff with Bitcoins , one should realize that , no matter what you will have to give fee to the miners , even lightning network is not completely free , at the same time I don't think people will continue to use lightning network after possibility of attack by hackers and other people.

Therefore I do think before this to continue we need to have two things :
1. Improve the lightning network
2. Invent some alternative to lightning network

Then only we will be able to see Bitcoins being used for day to day activities.




https://www.coindesk.com/bitcoins-lightning-network-is-vulnerable-to-looting-new-research-explains

You can read this article where it explains how vulnerable it is ^

Not only Bitcoin is not legalized but it is also not accepted and understandable by common people. In my country, Bitcoin is still being thought of as if it were a tool for scammers to work with. Many people have been tricked to buy "cryptocurrencies" (which are not) with the hope to quickly become rich. It's a common-sense that Bitcoin is a scam.

Even when people don't think Bitcoin is a scam, they still think Bitcoin is a very high-tech thing that they can't understand and use it. Therefore, to start to make it more common among society, we must inform people about Bitcoin to help them understand it first.

I don't think businessmen has problems with it.

Unless if the government insisted that they needed to monitor each of those companies or corporations that accept cryptocurrencies, that is when they will submit something about their profit in cryptocurrencies since they are already submitting these reports in income since they are paying taxes, right? So I don't think we have a problem with that. Either way, the people should be introduced by it so they will be using it.

It will take a long time to buy food or groceries with Bitcoin because Bitcoin is not yet legalized in many countries. But Bitcoin is a digital virtual currency that you can transfer via the Internet.

No other currency can be transferred in this way. With the help of the net, one person can send bitcoin to another person. This means the cost of sending bitcoin is lower. You can send this currency to any country without hiring any kind of representative or intermediary.

Bitcoin is one of the most popular currencies today in all over the world. Many countries do not currently accept Bitcoin, but you can buy anything by converting it to your country's currency. In the future, you will be able to buy not only food and groceries but everything through Bitcoin. Wait for the whole world to declare the validity of Bicoin.

As I have been noticed because these small merchants are usaully have a micropayment which is bitcoin is very suitable on that transaction.
But I don't think so if merchants that have a big amount to pay, I guess that is the reason others choose a bank account or even credit cards for bulk orders.

I guess that will happen that there is mass adoption of bitcoin and become a global payment method. But, not now. There's no time frame for that but as I can see we are heading on regarding that speculation.

"When paper money begins to depreciate" is just too general. It doesn't apply to all of the country, it all depends on what economic situation in each country has and merchant can only decide wether they want to adapt the cashless market it still depends if the demand is high. Although, we have seen already Cafe's and restaurants accepting Bitcoin so I think it might happen someday.

Everything will depend primarily on whether the state accepted cryptocurrency or not. Each businessman must report on his income to the government and therefore the sale of products and other goods for Bitcoin should be legal.

When paper money begins to depreciate, and inflation begins to eat up all the savings of people, then we can expect great interest from the public in cryptocurrency assets with a guarantee. the money supply is growing very rapidly today, and governments are making people poor who already do not have the means to live. I believe that in the near future we will have a more developed infrastructure network for using cryptocurrency in everyday life.

Bitcoin is a currency so what is the use of currencies?to pay for everything from services to product.

The only problem here is the way Bitcoin presented to the people,everyone think of this as investments as a currency to spend so the more accumulation people wanted.

If this thing realizes by the people inside crypto and if the adoption happen together with this?
Then the world of crypto will change forever .

I think Bitcoin was made for the sole purpose to be used for payments. Everybody at least remembers that time when that Guy bought a Pizza with lots of Bitcoin and people today are doing that also. Some businesses need to venture on the part where they can expand their payment methods that will result in multiple currencies to be used.

Buying food and groceries will really be useful for a lot of Bitcoin owners because they can use it at their own utilization.

We're not sure on what would happen in the future but nothing's impossible. There are already shops that accepts bitcoin as payment so most probably, we can also use this to buy foods and groceries. However, there are some issues that bothers merchants which hinders bitcoin to be widely used as a mode of payment.

Maybe if those factors or issues are addressed, then bitcoin may be used widely as a mode of payment.

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Source:
https://cointelegraph.com/news/why-have-cryptocurrency-payments-failed-to-take-off-so-far/amp?__twitter_impression=true

That's not only my concern. I feel sad to know that most of the grocery stores, reaturants and establishments here in our country is yet open to adopt bitcoin as well but already accepting e-money payments (Gcash, Paymaya, Paypal etc.). There are almost no difference between the two, isn't it? Then why they are not trying to adopt it? Yeah! Maybe some of you will say about the volatility. But I think it is easy to resolve by means of giving the equivalent amount of btc on your purchase. $1 worth of btc for $1 apple, as simple as that.
That's not the worst dude. As far as I know, we only have one bitcoin ATM here until now .

No doubt the popularity and usage of bitcoin increased since the last bull run in 2017 which brought bitcoin into the limelight ,but unfortunately merchants are still not ready to accept  it, because they're working based on demand, but if in the next two years or more they see a huge spike in demand to use bitcoin as a payment option, no doubt they will start accepting it, since their customers wants it to be included as a payment option for them like the credit card /PayPal etc.

There's a 95% chance that in the future bitcoin will be used to buy food and groceries, but this will only happen when the customers demand for it to be be included as a payment option increases.

seems not right eh ? the big companies are the ones that must accept new technologies first before the smaller ones because more people visit on them the most while small business hardly being seen  . less to no people are going to try thier new accepted payment method  which was btc  . lesser adoption we can achieve as well    .

financial literacy is not needed but we only need basic understanding on how internet and gadget work before we can use btc  . we dont need money before we can use btc . 10 btc atm's are also alot and fine than no btc atm , atleast people will have something to try on  .

In my country, there is still no grocery that are accepting bitcoin as payment but there are now small businesses like computer shop and coffee shops that are now starting to adopt cryptocurrencies. The progress in my country is too slow when it comes to mass adaption because of lack of financial literacy. Actually there are less than 10 bitcoin ATM in my country as of now and it seems that it will take more time before it doubles.

There are still a lot of people who do not have care about cryptocurrencies and I think it is the reason why merchants and other businesses are still having hard time to think whether they will start accepting bitcoin as payment or if they will stay using the old system.

It depends on the grocery store or the market if they allow the bitcoin to become a payment tool for their business.

Some businesses are still not that knowledgeable about bitcoin due to its centralization. Also, it is volatile so maybe grocery stores are scared that they may lose the value of it when its price goes down.

But hoping that this adoption will become put in to place as this is what we need right now to prevent physical contact during payments. I heard about the bitcoin ATM where we can withdraw bitcoin instantly and hoping that more bitcoin ATMs should spread globally so that it is more convenient to us if we needed to do that.

sites offer giftcards and you can but them with bitcoin. One i use is ubereats and i proably bought 5k in ubereats cards wit bitcoin in last year .

You can also but grocery cards with bitcoin many sites you just need to know were to look

As we enter a new digital era, physical cash payments will be a thing of the past. In the future, payments will be done with either credit/debit cards or cryptocurrencies thanks to the negative effects of COVID-19 on the mainstream economy. While Bitcoin is volatile, merchants and businesses could use an existent crypto payment gateway (like BitPay or CoinPayments) to quickly exchange Bitcoin to Fiat. With stablecoins and many other goodies in the crypto industry, it might be possible that we could buy our food or groceries in an instant using Bitcoin or any other cryptocurrency on the market. It's all a matter of mainstream adoption than anything else.

Of course, Fiat is still largely dominant because of its inherent price stability on the market. People tend to trust more something that's backed by the government, than something that isn't. It's normal that the number of merchants and businesses accepting crypto for daily payments is lower than those in the traditional Fiat economy. If the demand for Bitcoin as payment method is high, then supermarkets would accept it without thinking twice. Only then, it'll be a straightforward process for anyone to spend their Bitcoin in items of need (mostly food for survival). In these troubled times, I'd expect widespread adoption of Bitcoin into traditional stores we know and love today. Just my thoughts