Topic: Do you think twice before paying with Bitcoin? - page 2. (Read 521 times)
Well if you have truse on your strategy and what you are thinking ni more doubt and invest it. No more 2nd thought because when you are investing most of people search on the previous result and on what thr learn about it they know that its the right time to but and no one can stop it. For investing is like a gamble you just trust ou self no more deep thinking
It is logical to think twice about paying with bitcoin, since it is a cryptocurrency with a high profitability, to spend it as a fiat currency. I believe that the best and most prudent thing is to use bitcoin as an investment in time and not as an expense.
yes absolutely because bitcoin is more of a stock rather than something to be used as a payment system
it is used for investment by many people because of its price volatility and most of fiat currency are not like that
the way the price changes radically makes it more of a stock rather than a currency
it is used for investment by many people because of its price volatility and most of fiat currency are not like that
the way the price changes radically makes it more of a stock rather than a currency
do mean hesitant? though paying through internet with bitcoin is somehow a bit risky for first timer... but if its a must... then give it a try only to something which is not costly...
I prefer bitcoin as an asset for investment rather than as a means of transaction other than that in my country there has been no official enforcement from the government to allow transactions with bitcoin for the reason that there is already official money to conduct a transaction. and if I want to do the transaction usually I do is to exchange bitcoin into fiat money.
Bitcoin isnt accepted as worldwide payment method so there is no reason to hurry up about buying daily stuff while paying in bitcoin. I always check transaction address twice and control miner's fee in order to send best possible time without any delay. I dont want to get in trouble with someone specially if there is no refund feature in cryptos that is the reason behind to check receive address few times.
Yes, all the time and if for some reason I do have to send/spend bitcoins I always buy back the exact amount. The fomo is real
I always thought of paying with bitcoin, and usually I prefer to exchange bitcoin with paper money first to pay for something.
I also feel the way you feel, with repeated payments that weigh heavily on transaction costs, but if this is the best course I would have done.
I don’t know exactly everyone who has bitcoin is now still used as a means of payment or not, because at the momment bitcoin in my mind more serves as an asset. The consideration to use bitcoin as a means of payment it’s just not a volatile price, slow transaction processing and highfee will be the next consideration.
I agree. I think that's how many of the members here and the seasoned cryptocurrency users think. I think using it as a means of payment would be the weakest way to use it because there are so many other profitable and effective ways on using it such as an investment or trade medium. Nowadays, you would see less and less people seeing it as plain currency comparable to money that is used to pay for everyday purchases and services. I think since that happened, it could teach you that you should really think twice before using your Bitcoin just like that.
I am trading bitcoin daily and getting profits out of it, I keep my profits in USDT or USD to be used in future. So price volatility don't affect me because I will just convert those profit back to bitcoin at the time of my purchase so that I will get same value of my coin at which I have bought them.
But yes volatility affects on your bitcoin spending as price swings between few thousands within 24 hour, you are in risk of either losing 10% value or 10% gain in value between sell/buy price.
However these days there is no any network congestion so paying with bitcoin is not quite expensive like before.
But yes volatility affects on your bitcoin spending as price swings between few thousands within 24 hour, you are in risk of either losing 10% value or 10% gain in value between sell/buy price.
However these days there is no any network congestion so paying with bitcoin is not quite expensive like before.
Some of these sites can even give you ebay coupons that help you buy from there. It is really great to see such a progress in recognizing bitcoin. I hope that , other sites start accepting it. It is about time. Even game sites should do it. Bitcoin is the currency of the future. They should all adapt.
I found it kinda hard to pay with BTC few times. Because the volatility so high, many times I 'm feeling FOMO and I actually use fiat instead.
Does it happend to anyone else here?
Yes it's happening to me that I regret paying with bitcoin because by the time I use it I'm thinking is, what if the price goes up. Does it happend to anyone else here?
no, not really. bitcoin is really nice to use.
I found it kinda hard to pay with BTC few times. Because the volatility so high, many times I 'm feeling FOMO and I actually use fiat instead.
Does it happend to anyone else here?
Does it happend to anyone else here?
What I encounter is that if I want to pay using my bitcoin, the price is always on the negative that's why I choose fiat instead of my cryptos.
But yeah, sometimes I have the same feeling that if I used bitcoin today, it might go up in the next couple of month and regretting my decision earlier. So FOMO is real. lol.
I don’t know exactly everyone who has bitcoin is now still used as a means of payment or not, because at the momment bitcoin in my mind more serves as an asset. The consideration to use bitcoin as a means of payment it’s just not a volatile price, slow transaction processing and highfee will be the next consideration.
I agree. I think that's how many of the members here and the seasoned cryptocurrency users think. I think using it as a means of payment would be the weakest way to use it because there are so many other profitable and effective ways on using it such as an investment or trade medium. Nowadays, you would see less and less people seeing it as plain currency comparable to money that is used to pay for everyday purchases and services. I think since that happened, it could teach you that you should really think twice before using your Bitcoin just like that.
I never pay with crypto till this time and still not future plans for paying with it. My concern is the value in USD today worth 100usd for the asset that I bought could worth 200USD after ten minutes due to the sudden price changes and the volatility. I prefer to pay with fiat money.
I found it kinda hard to pay with BTC few times. Because the volatility so high, many times I 'm feeling FOMO and I actually use fiat instead.
Does it happend to anyone else here?
Does it happend to anyone else here?
I feel that way sincerely and I am sure a lot of people feel that way too and its largely due to our default thinking that the price will increase then you would blame yourself that you wasted too much to buy at the time. The people in the crypto community are also not helping matters as they are quick to open write an article on how you buy a shirt with .01btc and now worth $2000 but we all forget that its not always the upward every time because if I had buy sometime in January, I would be at an advantage today. This is one of the challenges facing bitcoin today as a lot of people see it as an store of value rather than medium of exchange and until we change that mentality, the volatility will not stop.
I agree with you. I don't fear much though. But yeah, we have to change our mentality. Everyone thinks of bitcoin as an investment rather than medium of exchange. Not sure when it would stop though.
yes i do , however i'm always clear to the fact that in paying with bitcoins im assisting its growth because the more you use bitcoins to pay for an item the more likely it is that new merchants will come on board and start accepting it as a legitimate form of payment . once sellers begin to realize that there is a demand to pay for items using the crypto then more persons will begin to accept it as a legitimate form of payment so paying for items with bitcoins is very necessary if we intend to encourage growth and development of this ecosystem.
What affects me the most while paying with bitcoin is its transaction fee. There have been numerous past incidents where I had allocated specific amount of btc to purchase a RAM that I wanted and I waited for the fee to fall and when it actually did I assumed it would be low for long and delayed paying for my RAM and thats when i realise its transaction fee is way higher volatile than bitcoins value itself.
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