Do you feel bad while paying with BTC?

Abiky

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Quote from: minairia3 on June 09, 2023, 10:52:36 AM

Which stablecoin are you talking about that is not controlled by the government? Because as far as I know, all stable coins are centralized and they can be frozen or confiscated at any time. Only one DAI is a decentralized stable coin, but unfortunately, it is not widely available.
Crypto payments and fiat elimination will happen in the future, but I'm not sure if a stablecoin will be chosen. That depends on the government, we don't have the power to decide.

Stablecoins are not controlled by the government per se. They're just issued by private companies with their own interests. If a stablecoin fails, don't expect the government to respond by making depositors/investors whole again (unlike USD deposits at a bank which are insured by the Federal Government). I'd prefer decentralized stablecoins as they're usually managed by an organization (DAO). Not a for-profit company that serves its own interests instead of the community. DAI and USDJ seem to be the only collaterized stablecoins that are decentralized. The rest are simply algorithmic and subject to failure.

BTC is better off as a store of value due to the way it was designed (deflation). But if volatility disappears, then it would've been another story. That is if Bitcoin is able to scale to meet the demands of everyday users. No one can predict the future, so let's hope for the best. Just my thoughts Grin

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Quote from: Blitzboy on June 09, 2023, 04:05:44 AM

Quote from: Raflesia on June 08, 2023, 03:25:20 PM

This will indeed be different from a perspective perspective because with something like this there will definitely be someone who wants it and someone who refuses too because of various considerations but I think that's normal because of course things like this can still happen because we are free to do whatever we want. We want.
I also actually quite agree with you because even though it can be done for payment but I don't know why it feels quite unfortunate to do that but on the other hand in this case I also still want to feel that way because it's not wrong to do it once to do buying with bitcoin regardless it's small or big but feeling something new of course it's not wrong.

Intriguing perspective! While I concur that Bitcoin's finite supply makes it inherently valuable, I'd argue it's a simplified view to discourage its use for transactions. Isn't the primary purpose of any currency to serve as a medium of exchange?

In this case, because from the beginning I applied bitcoin and bought it not as a medium of exchange from the beginning until now because indeed I am still doing it for my investment in the hope that my condition will be even better for the next few years, so in this case I still continue to think of it as such. As for actually spending bitcoin for people, I also won't have too much trouble in this case because indeed, as I said before, it's just about how our point of view is, regardless of whether they spend it or actually make it as a form of investment, I think it's not. wrong because we have our own goals in this matter.

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Quote from: tats-10 on June 05, 2023, 04:31:51 AM

I believe it's kinda tricky .. if it is a one time payment , i don't because i believe it's the value of it at that moment but when it's little payments here and there i kinda feel as if i could've paid with fiat and it woulda been fine but with when i pay with BTC it makes me feel like i'm losing value ..

Small payments we often use Fiat to pay for them, it is not effective if all payments are always made in crypto currency and one of them is in the form of small shopping payments. Unless this is a large and important transaction so that when it is calculated there is no element of loss or loss when using it, but it also depends on the situation required to make payments.

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Quote from: crypticj on March 23, 2023, 11:36:42 PM

But the problem for me is that anytime I think about paying with BTC I feel somehow uncomfortable. I always remember the guy who spent 30+ bitcoins on pizza and now these bitcoins are worth a fortune. Like I don't want to be this guy and pay with an asset that WILL go up in price. It feels like you paying more for the product from a future perspective.

What are your thoughts about this? Personally, I usually try to buy with stablecoins if I have some, it just feels more natural for me. I don't want to touch my BTC while the market is still bad.

You should never feel bad when paying in Bitcoin. Bitcoin is supposed to be used for transactions, not just for holding. You know Laszlo spent 10K Bitcoins to buy two pizzas, and in an interview, he said people say it's a stupid thing I have done. But I never regret it. He always feels proud of what he did. How will adoption happen if everyone starts holding and no one spends Bitcoin? Let's say some companies accept Bitcoin as a payment method, and no customers want to pay in Bitcoin. Do you believe other companies would take any initiative to accept Bitcoin as a payment method?

No Matter what is the price of Bitcoin. Suppose you have scop to use Bitcoin as a payment method. Do not hesitate to use it. You can always hold Bitcoin regularly. Just buy more Bitcoin if you want to pay using Bitcoin. By paying in Bitcoin, You will help Bitcoin to spread more. If you use Bitcoin, you will pay precisely the same as Stablecoin. When you find a store that accepts Bitcoin, Just convert your Stable coin into Bitcoin and pay using Bitcoin. In this case, You won't feel bad.

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Quote from: crypticj on March 23, 2023, 11:36:42 PM

Hello everyone!
Recently I was thinking about BTC payments and I believe that the system is moving towards bitcoin adoption and paying with bitcoin. And it's great!

But the problem for me is that anytime I think about paying with BTC I feel somehow uncomfortable. I always remember the guy who spent 30+ bitcoins on pizza and now these bitcoins are worth a fortune. Like I don't want to be this guy and pay with an asset that WILL go up in price. It feels like you paying more for the product from a future perspective.

What are your thoughts about this? Personally, I usually try to buy with stablecoins if I have some, it just feels more natural for me. I don't want to touch my BTC while the market is still bad.

Just buy more. buy and sell. problem solved. buying stuff with btc is selling it.. so yeah, just always be buying.

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Quote from: AHOYBRAUSE on June 08, 2023, 03:43:17 PM

I don't feel bad but sometimes I'm having a strange feeling in my gut.
Everybody knows the pizza story so that translates to every other purchase you are doing as well.

Who knows, maybe next your bitcoin is at 100k, then everything I paid with btc was "overpaid" 4x.

I know that's some silly thinking because you should always see the current value but it's hard to not see it that way. Grin

At least sometimes when you use your bitcoin and the price goes down you get a rewarding feeling, a feeling that you did everything right. Tongue

Your perspective belongs to people that want to earn profit, which is the same as mine, but there are really people who want to use it as it was intended, like that pizza guy who bought pizza because of him. If he doesn't use it as a payment method, the chances are bitcoin will still stay at a low price. What I really meant is that there are people looking only for profit and not for other uses of it, and there are people who are really using it for what it is intended for, but again, only a few people are doing this as most of us want to earn profit from Bitcoin.

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Quote from: crypticj on June 08, 2023, 10:03:30 PM

Quote from: Abiky on June 08, 2023, 03:16:14 PM

Couldn't agree more with you, mate. If people really want to make digital payments without having to worry about volatility, stablecoins are the answer. Bitcoin is deflationary by design, so it's meant to increase in price over time. That's not to say it won't lose value within the short term. If you're serious about making money with BTC, then I'd suggest you "hodl" it. Not spend it.

The decision of what to do with your money lies in yourself. As long as you don't go bankrupt, nothing else matters. Maybe someday BTC will become the standard unit of account? Just my opinion

Agree!
And it's interesting because bitcoin was created as a currency but become an asset that is unusable for everyday payments. But instead of bitcoin we got stables that are very useful as a currency and include USD/EUR stability and blockchain technology. And they still can't be controlled by the government.

That's why no matter what people are saying about stables, I still think that right now it's the best way to pay with crypto in everyday life.

Which stablecoin are you talking about that is not controlled by the government? Because as far as I know, all stable coins are centralized and they can be frozen or confiscated at any time. Only one DAI is a decentralized stable coin, but unfortunately, it is not widely available.
Crypto payments and fiat elimination will happen in the future, but I'm not sure if a stablecoin will be chosen. That depends on the government, we don't have the power to decide.

Adams0001

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Payments made using Bitcoin cannot be reversed if an error occurs during the transaction. If the individual to whom you are sending money defaults, you will be unable to contact anyone and file a chargeback. Bitcoin is a buyer beware situation. So it's also not'safe' in that regard.It is not advisable to feel terrible when such events occur.

You also can't be certain that your coins will be worth the same now as they would in five or ten minutes when the person to whom you're paying receives them. It can easily plummet or rise hundreds of points in a matter of minutes. So you don't even know how much you're paying someone.

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Quote from: Raflesia on June 08, 2023, 03:25:20 PM

Quote from: Nrcewker on June 05, 2023, 04:49:41 AM

Quote from: tats-10 on June 05, 2023, 04:31:51 AM

I believe it's kinda tricky .. if it is a one time payment , i don't because i believe it's the value of it at that moment but when it's little payments here and there i kinda feel as if i could've paid with fiat and it woulda been fine but with when i pay with BTC it makes me feel like i'm losing value ..

Even if it's small amount, I would advise you to not pay with Bitcoins. These coins are limited in numbers, hence very valuable, so if you just pay with Bitcoins and give away all your hard earned coins, then no one can stop you from this foolish act. Instead of accumulating these valuable coins, you just giving away the coins. Moreover I always feel bad when I pay in Bitcoins, but I do that only when I don't have any options or it's just an urgent payment that needed to be done. But one advise to everyone, soon the Bitcoins will rise in it's price, so buy and hold as many as you can.

This will indeed be different from a perspective perspective because with something like this there will definitely be someone who wants it and someone who refuses too because of various considerations but I think that's normal because of course things like this can still happen because we are free to do whatever we want. We want.
I also actually quite agree with you because even though it can be done for payment but I don't know why it feels quite unfortunate to do that but on the other hand in this case I also still want to feel that way because it's not wrong to do it once to do buying with bitcoin regardless it's small or big but feeling something new of course it's not wrong.

Intriguing perspective! While I concur that Bitcoin's finite supply makes it inherently valuable, I'd argue it's a simplified view to discourage its use for transactions. Isn't the primary purpose of any currency to serve as a medium of exchange?

Applying this logic, hoarding Bitcoin in anticipation of a price rise is akin to betting on a speculative asset, not utilizing a currency. Besides, widespread usage of Bitcoin for everyday transactions can potentially stabilize its value and reduce price volatility.

What's necessary, in my view, is a balanced approach - HODL (Hold On for Dear Life, for those not in the crypto loop) some for potential future gains, and use some to encourage its mainstream adoption. That would help Bitcoin fulfil both of its purposes, wouldn't it?

crypticj

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Quote from: Abiky on June 08, 2023, 03:16:14 PM

Couldn't agree more with you, mate. If people really want to make digital payments without having to worry about volatility, stablecoins are the answer. Bitcoin is deflationary by design, so it's meant to increase in price over time. That's not to say it won't lose value within the short term. If you're serious about making money with BTC, then I'd suggest you "hodl" it. Not spend it.

The decision of what to do with your money lies in yourself. As long as you don't go bankrupt, nothing else matters. Maybe someday BTC will become the standard unit of account? Just my opinion

Agree!
And it's interesting because bitcoin was created as a currency but become an asset that is unusable for everyday payments. But instead of bitcoin we got stables that are very useful as a currency and include USD/EUR stability and blockchain technology. And they still can't be controlled by the government.

That's why no matter what people are saying about stables, I still think that right now it's the best way to pay with crypto in everyday life.

AHOYBRAUSE

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I don't feel bad but sometimes I'm having a strange feeling in my gut.
Everybody knows the pizza story so that translates to every other purchase you are doing as well.

Who knows, maybe next your bitcoin is at 100k, then everything I paid with btc was "overpaid" 4x.

I know that's some silly thinking because you should always see the current value but it's hard to not see it that way. Grin

At least sometimes when you use your bitcoin and the price goes down you get a rewarding feeling, a feeling that you did everything right. Tongue

Raflesia

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Quote from: Nrcewker on June 05, 2023, 04:49:41 AM

Quote from: tats-10 on June 05, 2023, 04:31:51 AM

I believe it's kinda tricky .. if it is a one time payment , i don't because i believe it's the value of it at that moment but when it's little payments here and there i kinda feel as if i could've paid with fiat and it woulda been fine but with when i pay with BTC it makes me feel like i'm losing value ..

Even if it's small amount, I would advise you to not pay with Bitcoins. These coins are limited in numbers, hence very valuable, so if you just pay with Bitcoins and give away all your hard earned coins, then no one can stop you from this foolish act. Instead of accumulating these valuable coins, you just giving away the coins. Moreover I always feel bad when I pay in Bitcoins, but I do that only when I don't have any options or it's just an urgent payment that needed to be done. But one advise to everyone, soon the Bitcoins will rise in it's price, so buy and hold as many as you can.

This will indeed be different from a perspective perspective because with something like this there will definitely be someone who wants it and someone who refuses too because of various considerations but I think that's normal because of course things like this can still happen because we are free to do whatever we want. We want.
I also actually quite agree with you because even though it can be done for payment but I don't know why it feels quite unfortunate to do that but on the other hand in this case I also still want to feel that way because it's not wrong to do it once to do buying with bitcoin regardless it's small or big but feeling something new of course it's not wrong.

Abiky

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Quote from: Z390 on June 05, 2023, 04:24:07 AM

Stablecoins are the best digital currency for making payments, you won't feel like you are spending away something that's going to be more valuable than it is today, I believe that Bitcoin is a gold and it's value will keep surging in the future, this is why it's not a good idea in my book to use Bitcoin as means of payment.

No wonder I always feel reluctant whenever I want to pay for some premium services online using Bitcoin, those who benefits the most here are the merchants that are accepting Bitcoin as means of payment, not the spenders.

But everyone has their own opinions about what to use their Bitcoin for, some people feel comfortable spending their Bitcoin buying things online like phones and gadgets, and some TV subscription services like Netflix.

If I have to use Bitcoin as means of payment, I will be spending somewhere from 10$ Bitcoin to 100$ Bitcoin, because I know it will be easier for me to just pull up the Binance exchange on my laptop and buy another.

Couldn't agree more with you, mate. If people really want to make digital payments without having to worry about volatility, stablecoins are the answer. Bitcoin is deflationary by design, so it's meant to increase in price over time. That's not to say it won't lose value within the short term. If you're serious about making money with BTC, then I'd suggest you "hodl" it. Not spend it.

The decision of what to do with your money, lies in yourself. As long as you don't go bankrupt, nothing else matters. Maybe someday BTC will become the standard unit of account? Just my opinion

Nrcewker

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Quote from: tats-10 on June 05, 2023, 04:31:51 AM

I believe it's kinda tricky .. if it is a one time payment , i don't because i believe it's the value of it at that moment but when it's little payments here and there i kinda feel as if i could've paid with fiat and it woulda been fine but with when i pay with BTC it makes me feel like i'm losing value ..

Even if it's small amount, I would advise you to not pay with Bitcoins. These coins are limited in numbers, hence very valuable, so if you just pay with Bitcoins and give away all your hard earned coins, then no one can stop you from this foolish act. Instead of accumulating these valuable coins, you just giving away the coins. Moreover I always feel bad when I pay in Bitcoins, but I do that only when I don't have any options or it's just an urgent payment that needed to be done. But one advise to everyone, soon the Bitcoins will rise in it's price, so buy and hold as many as you can.

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I believe it's kinda tricky .. if it is a one time payment , i don't because i believe it's the value of it at that moment but when it's little payments here and there i kinda feel as if i could've paid with fiat and it woulda been fine but with when i pay with BTC it makes me feel like i'm losing value ..

Z390

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Stablecoins are the best digital currency for making payments, you won't feel like you are spending away something that's going to be more valuable than it is today, I believe that Bitcoin is a gold and it's value will keep surging in the future, this is why it's not a good idea in my book to use Bitcoin as means of payment.

No wonder I always feel reluctant whenever I want to pay for some premium services online using Bitcoin, those who benefits the most here are the merchants that are accepting Bitcoin as means of payment, not the spenders.

But everyone has their own opinions about what to use their Bitcoin for, some people feel comfortable spending their Bitcoin buying things online like phones and gadgets, and some TV subscription services like Netflix.

If I have to use Bitcoin as means of payment, I will be spending somewhere from 10$ Bitcoin to 100$ Bitcoin, because I know it will be easier for me to just pull up the Binance exchange on my laptop and buy another.

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Quote from: crypticj on March 23, 2023, 11:36:42 PM

But the problem for me is that anytime I think about paying with BTC I feel somehow uncomfortable. I always remember the guy who spent 30+ bitcoins on pizza and now these bitcoins are worth a fortune. Like I don't want to be this guy and pay with an asset that WILL go up in price. It feels like you paying more for the product from a future perspective.

The only possible way when I feel bad or uncomfortable when making a payment, is a situation when there is a a line of customers behind me, and I pay with a bag of small valued coins. A situation when cashier had to spend a good amount of time counting them and I made people wait. Even though a feeling of being uncomfortable would evaporate quickly, because I am paying with official currency.

But if you dont want to be that guy who has spend millions on a trifles, think of rising prices and inflation. Every time you postpone making a purchase, the next time you do it, it is going to cost you more. And now count how many times you have postponed buying something and how much you have overpaid in your life.

crypticj

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Quote from: Abiky on June 04, 2023, 03:15:16 AM

You can see how someone payed 10k BTC for two pizzas. Back then, there were no exchanges available to trade BTC so there was no speculation about the value of the coin.

Yes! This is the problem. We can't just follow two narratives all at once. We can't say "let's all pay with BTC" and think "wow this dude spend 10k BTC, it's such a big mistake". Even if people don't think about it, they probably have the same feeling when they spend bitcoin, they probably feel that they are missing out on it.

So yeah, I don't even know how we gonna fix it. Right now, even supporting bitcoin as a currency, I don't want to use it as one. And probably no one want to pay for bear with bitcoins every day.

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Quote from: crypticj on March 23, 2023, 11:36:42 PM

Hello everyone!
Recently I was thinking about BTC payments and I believe that the system is moving towards bitcoin adoption and paying with bitcoin. And it's great!

But the problem for me is that anytime I think about paying with BTC I feel somehow uncomfortable. I always remember the guy who spent 30+ bitcoins on pizza and now these bitcoins are worth a fortune. Like I don't want to be this guy and pay with an asset that WILL go up in price. It feels like you paying more for the product from a future perspective.

What are your thoughts about this? Personally, I usually try to buy with stablecoins if I have some, it just feels more natural for me. I don't want to touch my BTC while the market is still bad.

This thought will end one day because we will only be making payments in bitcoin. This is my dream maybe come true. It is natural that you do not want to spend an asset that has the potential to increase. Considering the previous examples, I want you to know that you are not alone in this matter. What if there is a huge spike next year and we spend our bitcoins now? I'm not a fan of exchanging our bitcoins if we don't need them.

Abiky

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Quote from: serjent05 on May 27, 2023, 03:05:52 PM

I think the emotion depends on how a person looks at Bitcoin. For me, I feel nothing but being fulfilled when I spend Bitcoin. I feel that I am helping the economics of Bitcoin and the merchant adoption since I am able to particpate in global economics of Bitcoin. I always think that when people use Bitcoin to pay for their goods, it helps Bitcoin to establish its market and its usage as a mode of payment.

Bitcoin is not created to be hoarded but due to its increasing price people forget the true purpose of what Bitcoin is created.

Wall Street got into crypto/Blockchain tech and changed people's perception about Bitcoin. They now see it as an asset rather than a currency for daily payments. In the early days, it was all of the contrary. You can see how someone payed 10k BTC for two pizzas. Back then, there were no exchanges available to trade BTC so there was no speculation about the value of the coin.

Now everything is all about getting rich quick with Bitcoin, while forgetting about what matters most (eliminating the middleman, empowering people to be their own bank, etc). Because of this, I don't see volatility disappearing anytime soon. If you don't care about the market price of BTC, then you'd have no problem using it to pay for goods and/or services. But the majority wants to grow their wealth with BTC, so "hodling" would be the best path to take right now. Maybe everything will change in the future once Fiat dies for good? Just my opinion

Topic: Do you feel bad while paying with BTC? (Read 1735 times)