Topic: Buying food or groceries with Bitcoin - page 5. (Read 1609 times)

Its all in the hands of the people. but I don't really see it happening as of now. People are still into fiat. Its still the efficient one even in digital payments. I use fiat to purchase online so I need to convert my coins first, transfer it to my bank then use it to buy things online. It is needed to be widely used before stores and companies decides to accept it as payments. And we have to be honest that its not happening today. We are still struggling to introduce btc as a currency and not only as an investment. Some people even see btc as a haven of scam and etc.

There could be a possibility that in the near future, buying foods and groceries can be done directly using Bitcoin because mostly these days, Bitcoin just serves us a digital money and is being converted into national currency to be able to be used using digital wallets provided by a certain country.

The adaptability of directly using Bitcoin as a payment option can be possible to make happen if the consumers will demand the usage of it since merchants are following or adapting into the needs and wants of their customers. The possibility of using Bitcoin can only be possible if people will massively demand the usage of Bitcoin once they have already adapted on using it more like using paper money or fiat. But as of now, there are still certain issues that are needed to be resolved before coming up into such scenario but hopefully in the very near future, usage of cryptocurrencies not just Bitcoin can be made possible directly even without doing conversions to purchase goods and services.

I think not only the volatility is the issue bitcoin is not to be accepted as an alternative payment method in different sector like when you buy foods and groceries,although it was use as payment online for bills like water and electric bill and also you can buy loads using bitcoin. The other thing that i see why it was limited to accept because of the transaction process that can be more longer than if you pay a fiat money.Also you always need an internet connection or data everytime you are going to make a transaction. What if the internet is too slow? Those are the things that i think most businesses and merchants should consider to accept bitcoin.

Using bitcoin as a mode of payment in exchange for goods and services can be difficult because there are still a few people who know about bitcoin and other cryptocurrencies, so if you want to buy foods and groceries using your bitcoin you should convert your bitcoins into fiat for them to be accepted in malls and market. But here in the Philippines, we can buy foods and other things with our bitcoin in online shopping sites using our bitcoin wallets.

Yes. This is more of a dream than anything else. Right now, Bitcoin is very far from becoming a true alternative to existing Fiat. In these times of need, people are resorting to physical cash (Fiat) as it's the "go-to" payment method of choice by many mainstream businesses and merchants alike. Stable prices are what really matters here in order to use a currency for daily necessities. I'd say that if Bitcoin was stable in price, cheaper in fees, and faster in transaction processing times, it would've had a better chance of becoming accepted as payment method in many supermarkets and retail stores. We already have the Lightning Network, but it's not enough as prices are still volatile on the market.

As a workaround, one could buy groceries with Bitcoin using a crypto debit card. That would essentially convert Bitcoin to Fiat "on the fly" when making a purchase with the debit card. This method works as intended, but it's not beneficial for the Bitcoin economy. It's best to pay with Bitcoin directly, completely eliminating the middleman from the system. Time will tell us if Bitcoin will reach a massive level of adoption in the mainstream world or not. Just my thoughts

It is not necessary that we accept it for buying and selling daily. Rather, it is only an investment to obtain returns from the investment, and then any currency can be used for buying and selling or even using altcoin for that purpose.
bitcoin is money and not need to use it for daily needs but investment against cash money that losing it value.
bitcoin will be the future.

I don't think it will be possible very soon. The whole world is going through a difficult time right now. Although there has not been much of an impact on Bitcoin, there is still some fear. Bitcoin is reaching the top of popularity all over the world day by day. This may happen in the near future. I think everyone will benefit a lot if this happens. The world is leaning online now. Everyone wants to buy everything they need online. So even if it takes a little longer, one day it will be possible to buy food or groceries with bitcoin.

Maybe not now, but i strongly believe it would happen in the near future. As we can observe around the world, growing numbers of people had learned to use Bitcoin and there is already selected online stores like Amazon who accepts Bitcoin. We are now in our New Normal kind of living because of this pandemic,  and everyone is encourage to use cashless payments and virtual transactions to avoid the Covid19, and we do not know when this crisis will last...but, despite of that, being in a modern world, with high class technology, we wouldn't be surprise and we must be amazed soon that Bitcoin can be use not just in buying groceries but everything we need in life.

For me, this is a real form of development that Bitcoin used for media transfer in online stores and food payments. Many e-commerce companies are considering using Bitcoin as a media transfer. And in the next few years, I think there will be many food stores or restaurants accepting Bitcoin payments. I agree with this, but as a company that accepts Bitcoin media transfer, they should immediately transfer to the exchange. We see that the movement of these Bitcoin prices can change rapidly. What I fear is when the price of Bitcoin Falls and the company does not receive profit but they lose profit. Of course, the company immediately moves to the coin stable price like USDT.

This development is certainly a very good step and Bitcoin or all digital currencies are increasingly known around the world.

Although there are already many shops and merchants that accept payments with bitcoin, buying food with bitcoin is still difficult done.
Perhaps the main factor is because volatile bitcoin prices make shops and merchants not yet accept bitcoin as payment. Indeed there are
alternatives such as quickly converting bitcoin to fiat or stablecoins can be a solution, but such methods are less effective. So while in my
opinion is not the right time to buy food with bitcoin.

Our local wallet has a lot of features and one of them can used for buying goods in online stores.

Our local wallet is affiliated with many online wallets too so even a shop doesn't have a BTC payment method, it's easy to convert and transfer that money without huge fees. The only disadvantage of using our local wallet, it doesn't give a real-time value which means the current price isn't same with CMC every minute.

That's certainly true, mate. Despite Bitcoin's rise in price on the market, it still lacks mainstream adoption. I guess this is largely attributed to price volatility, slow transaction processing times, and high fees. Merchants and businesses alike might never use Bitcoin as a serious currency for daily commerce other than as a store of value. The pioneer cryptocurrency is more suitable as a long-term investment than anything else. Of course, we already have the Lightning Network which aims to make Bitcoin payments instant and dirt cheap. But the learning curve is quite steep, preventing everyday people from using it in the mainstream world (I've often found the LN confusing when I first started using it). As long as the aforementioned issues are present in Bitcoin, merchants and businesses will continue to use traditional Fiat for daily payments.

Nonetheless, we already have stablecoins which aim to provide the "best of both worlds". My guess is that Bitcoin will continue to be used as a sort of "hedge" against Fiat, while stablecoins will be used for daily commerce. Bitcoin will be the new digital Gold that will be used alongside Fiat for many generations. It's already useful as a censorship-resistant cryptocurrency that's impervious to third-party intervention. People who value this, will choose Bitcoin above anything else. Others who want convenience will simply choose stablecoins. While it'll be nice to buy food or groceries with Bitcoin someday, it's certainly not a priority right now. With the use of crypto payment processors/gateways, we can get a credit/debit card which serves as a bridge between the world of Fiat and Bitcoin. This is certainly a workaround for buying daily necessities with your hard-earned Bitcoin. Just my thoughts

Yes you can if you buy from shops that accept them. Once Get a bitcoin Visa or Mastercard to automaticaly convert bitcoin to fiat. This way you have 100% in BTC and convert in the last moment when you need it.

It will be easier if BTC becomes a payment instrument in an online store like you mentioned, especially if you have used it, to be honest, I want to use BTC as a payment tool in the shop but it is still not available, it only provides debit and cash on delivery services.

Like it is still some who use this method and only in some European and Asian countries.

But I hope this can be used in the near future to make it easier to use bitcoin in the online shop.

Yes I agree bitcoin is becoming popular form time to time. Bitcoin nowadays are accepted in some establishments as their mode of payment. Though compared to fiat, fiat has a better performance than bitcoin. But then I believe that bitcoin has the potential to improve and has the potential to be a number one soon. Through bitcoin someone can make transactions without falling in line at payment centers. The future is yet to come and I think bitcoin will be number one.

In our local exchanges, we can use BTC as a means of payment in buying in an online store like Shopee. There are many cases when I tried to order using BTC and there was no problem at all. I managed to get every item I bought. Because most of the time people in that online store are using cash on delivery for their payments. But for me, I tried to use BTC because I really wanted to know how far we are now with the BTC payment method and guess what? it was all smooth and perfect. I hope I can try it too, buying groceries and other stuff in the market with BTC using QR codes.

That's right!! In order for the stores to have a bitcoin transaction on buying some goods, why we don't play our part by just asking them if they are accepting bitcoin or any cryptocurrency as a mode of payment to their products? Due to this kind of asking we will be able to open a door of ignorance to other people that there are some people who are looking for a new and more fast transactions on buying their products through the mode of payment using bitcoin.

For them to make their stores available for the purchase of food and groceries we must have one thing to do for this to happen, when buy anything around your visility ensure you ask for bitcoin option payment method. Many of us don't always ask for this option to create the awareness of Bitcoin to the shops owners. Let us play our part in this mass adoption which will be good for the entire industry. Personally, I will buy food and groceries with bitcoin because thus will bring in those who haven't heard about the technology before now.

Most of the grocery markets here in my place are not that knowledgeable in using cryptocurrency as a payment tool. When I try to buy goods in the groceries, I always use fiat as it is the traditional currency that they only accept. They also accept credit cards or debit cards but cryptocurrency is not that known here.

Maybe some of them understand how bitcoin works, but they are scared about its volatility once they have it. Bitcoin's price is really uncertain especially in the market so maybe some stores are not that courageous when it comes to holding a bitcoin. We all know that bitcoin is risky to invest that's why you need to be patient and manipulate it properly in the market.

Because the most concern is the volatility ,this is the problem if the goods purchased is usable but the payment offers are droppable so the main thing is what if after paying the price of Bitcoin fell down more than 50% then how could a seller  recover from that loss?

Not unless the seller is cryptonians and willing to accumulate as many Bitcoin they can have.

But a small businessman that only using the small profit to add as capital int heir business?i'm sure this will be the most affected and will not welcome Bitcoin at all.

But i am agree on this matter and i will love seeing grocery stores offering to accept Bitcoin.