Do you feel bad while paying with BTC? - page 4.

xSkylarx

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Quote from: Ayers on April 28, 2023, 09:20:15 PM

Quote from: amihada on April 28, 2023, 08:51:47 PM

bitcoin is not suitable to be used as a means of payment like fiat, bitcoin is more suitable to be used as an asset.
if you make bitcoin as a means of payment when will you get the benefits, if in my country someone wants to accept bitcoin as a means of payment I will not do it.

Why do you say bitcoin is not suitable for use as a means of payment? Can you give a few reasons? Don't forget that bitcoin was designed by Satoshi to be used as a means of payment without a 3rd party, he did not intend to create bitcoin as an asset and for trading as it is today. All that is happening is because we made it an asset, an investment, not the original purpose of bitcoin. There's no denying that bitcoin is seen as more of an investment, but there's nothing wrong with someone using it to replace fiat as a payment method.

Most of the people right now see bitcoin as an investment even those new one that asking help on me about bitcoin which first i do always say to them that it was used for transaction but sometimes they always insist that it was for investment. Well we cant blame them as the price right now is huge and anyone of us wants it but having regretting spending it the for sure your mindset is only getting profit out of it and not known the true purpose of bitcoin

Obari

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

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.

Well I'm sorry to say but I think you're already getting a very wrong conception of savings and investment.
You shouldn't be scared of using your savings as long there was a tangible need to do so.
The major concept behind bitcoin investment and cryptocurrency in general is buying low and selling high especially one feels ok with their profits and that is why it is always expected to be very smart and proactive while investing in bitcoin because it is a very volatile asset and people make profits from the losses of others and that's why we ought to choose our sides wisely as nonone will be held responsible for our decisions.
So op you shouldn't feel bad while trying to make payments for purchase using bitcoin because it is digital currency and supoosed to be spent especially if there is a profit on it.

mejarm

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What bothers you so much that you're uncomfortable paying with Bitcoin and want to consider paying with fiat instead?
Why should you consider the past? Actually, it never happens to you. If you're not truly ready to accept Bitcoin as a form of payment, then don't force yourself to. I believe you are considering what would happen if the price of bitcoin increased when you were already using it. If you want to make things simple for yourself, decide to utilize money and reserve your bitcoins solely for investing purposes.

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Quote from: amihada on April 28, 2023, 08:51:47 PM

bitcoin is not suitable to be used as a means of payment like fiat, bitcoin is more suitable to be used as an asset.
if you make bitcoin as a means of payment when will you get the benefits, if in my country someone wants to accept bitcoin as a means of payment I will not do it.

You must know that Satoshi created Bitcoin as an electronic cash. It means Bitcoin is ideally to be used as a payment tool, the main function shouldn't be a digital asset. But, since Bitcoin price always grows constantly, people use Bitcoin as their digital assets. It makes people expect Bitcoin will have a higher and higher value in the future, they don't care whether it can be used as a payment tool or not in the future. People tend to focus on gaining profits from Bitcoin investments, they forget that they should help Satoshi to adopt Bitcoin as a digital payment tool, too.

Please check again Bitcoin WP: https://bitcoin.org/bitcoin.pdf

DJANAS

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For me Yes, i feel bad everytime i spend crypto Huh

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Quote from: serjent05 on April 30, 2023, 03:12:12 PM

Quote from: ChiBitCTy on April 30, 2023, 03:06:29 PM

OP- I understand what you’re saying and where you’re coming from, but I think it’s also important to understand that bitcoin is first for foremost designed to be digital cash, meant to pay for things. I personally believe that it’s important that bitcoin be used as a means of currency as that gives it more value, legitimate utility.

I agree Bitcoin should be used for payment in order to establish and make its economy strong. If Bitcoin isn't used as it is intended to be, then the foundation of Bitcoin will be weak and will always be a subject of manipulation and speculation.

It is true that bitcoin was created by Satoshi to be a currency, a method of payment, but people are entering the market because they see bitcoin as an investment, an asset to get rich. My question is, how many people advocate using bitcoin as a payment method when its volatility is so great? I don't think anyone is brave enough to buy bitcoin for $50k and use it to pay when it's $15k. It is easy to say, but encouraging people to use bitcoin instead of Fiat is extremely difficult.

Quote from: serjent05 on April 30, 2023, 03:12:12 PM

Quote from: ChiBitCTy on April 30, 2023, 03:06:29 PM

So personally I feel no different spending it or traditional fiat.

Same here since I also look at Bitcoin as a mode of payment. Besides it is my own little way of supporting the Bitcoin economy. Use Bitcoin as payment so that merchants will continuously use it as an option to pay for their goods and encourage more merchant adoption.

I'm not against someone using bitcoin for payment because that's what it was created for, but there's also nothing wrong with people using it as an investment. Moreover, I believe that if bitcoin becomes stable, how many people will use bitcoin for payment? Because 99% of people are here for profit.

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Quote from: ChiBitCTy on April 30, 2023, 03:06:29 PM

OP- I understand what you’re saying and where you’re coming from, but I think it’s also important to understand that bitcoin is first for foremost designed to be digital cash, meant to pay for things. I personally believe that it’s important that bitcoin be used as a means of currency as that gives it more value, legitimate utility.

I agree Bitcoin should be used for payment in order to establish and make its economy strong. If Bitcoin isn't used as it is intended to be, then the foundation of Bitcoin will be weak and will always be a subject of manipulation and speculation.

Quote from: ChiBitCTy on April 30, 2023, 03:06:29 PM

So personally I feel no different spending it or traditional fiat.

Same here since I also look at Bitcoin as a mode of payment. Besides it is my own little way of supporting the Bitcoin economy. Use Bitcoin as payment so that merchants will continuously use it as an option to pay for their goods and encourage more merchant adoption.

ChiBitCTy

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Quote from: Solosanz on March 24, 2023, 01:02:08 AM

30+ Bitcoins? who's him? I think you're refer to Laszlo Hanyecz where he spend 10,000 Bitcoins for 2 pizza and he was not disappointed for doing it, so why you should care with it?

It's your choice if you want to pay with BTC or not, but I believe there's a time where you will convert your Bitcoin to cash because you will need that money in the future, you can't just hold it and not enjoy what you've accumulated so long.

All in all he actually spent over 30,000 bitcoins as he did a couple deals like his infamous 10,000 bitcoin for pizza trade that was the first ever bitcoin for goods transaction.

OP- I understand what you’re saying and where you’re coming from, but I think it’s also important to understand that bitcoin is first for foremost designed to be digital cash, meant to pay for things. I personally believe that it’s important that bitcoin be used as a means of currency as that gives it more value, legitimate utility.

So personally I feel no different spending it or traditional fiat.

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Quote from: Inwestour on April 28, 2023, 02:51:00 AM

Fiat currencies are highly subject to inflation, so with time your savings to depreciate, this is a losing strategy, and in the case of bitcoin, the opposite is true. Whoever is able to understand this now will have a good advantage in the future.

The deflationary nature of Bitcoin makes it more suitable as a store of value than a real currency for the payment of goods and/or services. That is if you still measure Bitcoin's value in Fiat terms. But if you use BTC regardless of market prices, then it wouldn't matter. I really hope the day comes when BTC is used as the world's standard unit of account (not Fiat). Only then, "hyperbitcoinization" will become a reality.

Unfortunately, that won't be the case in the future since most people consider Bitcoin as an investment (not a currency). I'm fine with that as long as Bitcoin does the job it's supposed to (bringing banking to the unbanked and true financial freedom). With CBDCs right around the corner, we should expect BTC to grow bigger in the future. Maybe it will live alongside Fiat currencies for generations? Just my thoughts Grin

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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!

Please explain where you live and only after that will we know how far the payment system using bitcoin will develop where you live. Many countries still refuse to accept payments using bitcoins because there are many issues that must be obeyed.

Unless you buy goods from online sites that accept payments using bitcoins, in some countries this system is also not widespread and there are still quite a number of products that do not accept payments using bitcoins, especially in the country where I live.

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.

If you feel uncomfortable, then don't use bitcoin as a transaction tool, just exchange it for fiat according to your needs to buy the product you want. For that you don't need to invest all the money you have in bitcoin, because when you need fiat you don't need to sell bitcoin or buy certain products using direct payment with bitcoin.

I prefer to buy things using fiat currency, because using bitcoin is very detrimental when the price goes up and our assets decrease because we have sold some or in other words converted to fiat when buying something.

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Quote from: Abiky on April 27, 2023, 11:55:50 AM

Quote from: Marvell1 on April 27, 2023, 07:27:13 AM

~snip~

I don't think Bitcoin will ever "stabilize", especially when the world is still tied to the "Fiat Standard". Everything is valued in Fiat currencies these days. For volatility to stop, Bitcoin needs to replace Fiat as the standard unit of account. In other words, this means valuing things in BTC terms (not Fiat). But that can never be achieved when most people consider Bitcoin as a long-term investment instead of a currency. You're free to use Bitcoin the way you want to, thanks to the way it was designed (decentralized and censorship-resistant).

With real use cases growing by the day, it should only be a matter of time before the cryptocurrency becomes a "force to reckon with". Maybe we'll see more merchants and businesses accepting it as payment method in the future? Just my thoughts Grin

Bitcoin will not be as stable as fiat money, but you can also see its volatility decrease as it gets bigger. I mean, when bitcoin becomes popular, and the market cap becomes as big as gold, maybe even more than the gold market, bitcoin will be less volatile like gold is now, and the returns will also dwindle. It's not what I want, but it will happen.

Quote from: Inwestour on April 28, 2023, 02:51:00 AM

Quote from: Marvell1 on April 27, 2023, 07:27:13 AM

~snip~

A significant decrease in volatility will most likely provoke the outlet of the players who were here for quick profit and they were not interested in anything more, except that. At the same time, it will make bitcoin more attractive as a payment tool, for everyone who is now doubting and simply holds bitcoin, because they want to make a profit in the bull market.

For this reason, many new or long-time investors have started to turn to altcoins instead of investing in bitcoin. Bitcoin cannot be highly volatile forever, once it gets bigger, the volatility will definitely decrease significantly. For investors, if volatility drops, it will be a sad thing, but conversely, for those who use it for payments, it is something they are looking forward to.

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Quote from: amihada on April 28, 2023, 08:51:47 PM

bitcoin is not suitable to be used as a means of payment like fiat, bitcoin is more suitable to be used as an asset.
if you make bitcoin as a means of payment when will you get the benefits, if in my country someone wants to accept bitcoin as a means of payment I will not do it.

Why do you say bitcoin is not suitable for use as a means of payment? Can you give a few reasons? Don't forget that bitcoin was designed by Satoshi to be used as a means of payment without a 3rd party, he did not intend to create bitcoin as an asset and for trading as it is today. All that is happening is because we made it an asset, an investment, not the original purpose of bitcoin. There's no denying that bitcoin is seen as more of an investment, but there's nothing wrong with someone using it to replace fiat as a payment method.

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The innovation came from Satoshi to fullfill what is missing with the fiat system. This means the core was to use it as a medium of transaction. For some reason the growth of bitcoin made people prioritise it more as an investment than a medium of payment. It is true, if Laszlo Hanyecz hadn't made that decision even now the price of bitcoin might've not reached this level. Unlike the market price and growth it is necessary to spend bitcoin as well as use it for payment.

After certain level of growth the value might get stagnant. By that time people will give importance to it as a medium of transaction. Until then the usage as investment can be seen much among the common people.

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bitcoin is not suitable to be used as a means of payment like fiat, bitcoin is more suitable to be used as an asset.
if you make bitcoin as a means of payment when will you get the benefits, if in my country someone wants to accept bitcoin as a means of payment I will not do it.

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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.

I too feel uncomfortable about spending an asset that has historically shown strong price growth. The concept of 'HODLing' Bitcoin as a long-term investment, using stablecoins for purchases can be a good alternative for those who are uncomfortable with the volatility of Bitcoin.

Stablecoins are designed to maintain a stable value, usually by being pegged to another asset such as the US dollar. This can make them a more predictable and reliable option for making purchases. Ultimately, whether to use Bitcoin or stablecoins for purchases is a personal decision that depends on your individual circumstances and risk tolerance.
I personally use USDT to spend and use BTC for hodling.
I tried memecoins. Sometimes they work but 90% are scams. My 50% investment goes into BTC 30% into other strong coins and 20% into new coins I do not touch presale.
I always use USDT for payments whenever I have to spend.

kaseygriffin

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Between crypto or bitcoin payments is gradually being accepted more, but there are also many countries that do not want to use it. It can be said that the legal corridor of this has many barriers and it takes time for people to change their minds. I have seen the positives as some economic powers are gradually taking a positive view of this area, and this will have a big effect on the future. The usage behavior of each of us can be different, so it is very vague to talk about who acts with bitcoin or crypto.

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Quote from: Abiky on April 23, 2023, 06:15:17 PM

People are free to decide what to do with their Bitcoin. It's not like Fiat currencies where you are subject to banks' and governments' own will. What makes Bitcoin stronger is its decentralized and open source design. Popularity for the cryptocurrency keeps rising even during uncertain times, so I'm confident it will last a lifetime. I think "market volatility" will be solved once crypto becomes a mature asset class in the future. BTC will be a lot more stable by then, making it a lot more useful as a currency.

Fiat currencies are highly subject to inflation, so with time your savings to depreciate, this is a losing strategy, and in the case of bitcoin, the opposite is true. Whoever is able to understand this now will have a good advantage in the future.

Quote from: Marvell1 on April 27, 2023, 07:27:13 AM

When it comes to volatility, for those who see bitcoin as a currency, a means of payment, bitcoin volatility is a big problem that needs to be resolved. But for investors, volatility is a boon because it will give them profits, if it goes away, we will also lose some users. I am an investor, but I also believe bitcoin will become more stable over time, and we could also see bitcoin returns getting smaller and smaller compared to previous years. It's actually getting bigger and more stable.

If bitcoin can stabilize, it is almost certain that it will become an alternative to fiat in some countries.

A significant decrease in volatility will most likely provoke the outlet of the players who were here for quick profit and they were not interested in anything more, except that. At the same time, it will make bitcoin more attractive as a payment tool, for everyone who is now doubting and simply holds bitcoin, because they want to make a profit in the bull market.

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Quote from: JayTrain on April 27, 2023, 02:03:16 PM

I understand the purpose of BTC as a currency, but the fear of missing out on potential gains in the future makes me hesitant to spend it. Stablecoins provide a more stable option for transactions, and I feel more comfortable using them. However, I also recognize the importance of BTC adoption and am open to exploring its use as a payment method in the future.

That's true, I prefer to use stablecoins for that too. But one time I had to use BTC, when it was more expensive, and then bought even more when it was cheaper. And that's a great feeling.

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It’s Really A Painful Matters When I Have Some Amount Of Bitcoin At 2015-2016 Than Actually I Don,t Know What Is Bitcoin And How It Is Working Than I Pay My Bitcoin Little Amount.

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I understand the purpose of BTC as a currency, but the fear of missing out on potential gains in the future makes me hesitant to spend it. Stablecoins provide a more stable option for transactions, and I feel more comfortable using them. However, I also recognize the importance of BTC adoption and am open to exploring its use as a payment method in the future.

Topic: Do you feel bad while paying with BTC? - page 4. (Read 1735 times)