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Topic: Finally, I Bought Something With Full Payment In Bitcoin. (Read 704 times)

legendary
Activity: 3892
Merit: 11105
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Nice!  If this helps better your life it is no doubt a great purchase.  I nearly made a similar purchase back in 2015 (or somewhere around there).  A member of this forum had a Harley for sale and I wanted it so I made an offer.  I believe he was asking somewhere around 75 BTC and I offered 69 BTC for it.  We haggled a little bit but eventually couldn't come to a deal.  This year I purchased an all electric motorcycle (Sondors Metacycle) for around 0.08 BTC.  I'm glad I got lucky and was able to dodge a bullet there.
Did you completely dodge the bullet?
Looking at the time frame in trying to make the supposed Harley deal and now, there have been a huge change in price appreciation and the same would apply to 0.08 BTC in 2-4years at most and then, it would seem like you dodged a bullet just to get hit by another.

The most important truth here is you did what made you happy, using a rare means available to you. Even if you had to sell BTC for fiat and make the trade, its a means avail to you.

Sometimes, we've jus got yo say, WTF with the price appreciation in few yeas and satisfy some wants. It's the ay to go right,  Cheesy!
I would agree with OgNasty with this one and say that he did dodge a bullet at that time. As the potential price that he could've bought the motorcycle could be million in today's price in bitcoin. Also, if you will to compare the price appreciation from 2015 - 2022 of bitcoin it has increase for over 1000% which is unlikely to happen within 4 years as the price of bitcoin right now is relatively high.

I just finished reviewing the posts in this thread, and since it is still open, I see no problem commenting within it.

First of all, it can be funny how BTC price changes can affect perceptions about price and/or market dynamics, yet I still have difficulties considering how anyone in the middle of 2022 would consider that bitcoin prices were relatively high at that time... especially if the member knows about bitcoin and had been a forum member since early 2016 (referring to you, Jemzx00).

Surely bitcoin had an upwards performance year in 2021, yet by mid-2022, BTC prices had dropped by 70% or so from the top, depending upon from where we start to measure the drop, and so $20k prices should not have been thought to have had been relatively low at that time, and, in fact, my own philosophy had always been spend and replace if I were to be using my BTC during relatively dipping periods, yet we also may well know that the longer that we are in bitcoin, then the less we might need to worry about replacing our bitcoin after spending.. .. so I am not opposed to spending bitcoin, yet sometimes during large dips, we may surely be better off to replace whatever we had spent, and perhaps even replacing with more than we had spent, especially if we are in BTC building stages or if we are trying to take advantage of various volatile periods in bitcoin, which surely can be quite common of a phenomena.

Even OPs forum registration date shows mid-2016, so by the time that he made his motorcycle purchase, he had ONLY been in bitcoin around 6 years, so it may or not be clear whether a spend and replace would have been preferable in his particular circumstances and/or level of BTC accumulation prior to his motorcycle purchase, even though in a subsequent post in this thread, it appears that he had replaced the amount that he had spent.

But, yeah, back to the idea of relatively high prices, that hardly seems to be true during periods in which BTC had more than a 70% drop by that time, and sure even though we did end up getting right around a 77.5% drop by the time BTC prices reached their maximum low points for that correction period.  Another thing was that in July 2022, the 200WMA was around $22,000, so with $20k-ish prices, BTC prices were already below
the 200 WMA, which had not been a common occurrence in BTC, even though BTC prices did end up going to around 36% lower than 200WMA prices, which were also unusually low prices in terms of BTC's historical price performance.

Nice story @ OP but why do I think I am missing something?  The most important recipe of the story.  Oh yeah, the Bitcoin transaction ID.
 You know everything can be made up but proof of transaction of Bitcoin can't be forged.  I so love to see you attach your Bitcoin transaction regarding that motorycyle.  It would be a better inspiration if we saw that you actually paid it in Bitcoin as the story claimed it was.

Personally, for OPsec purposes, I doubt that it is important to verify occurrences with bitcoin transaction IDs. except voluntarily.

Nothing wrong with NOT believing OP, yet I still question whether there is any importance to verify the truth in regards to whether the transaction having had taken place.. ..

And, yeah, by the way, historically, I have been irritated by member talking about the various ways that they spent their BTC during large BTC price correction periods.. so yeah it could be like they are trying to get other members to sell their bitcoin.. so I can recognize and appreciate any criticism that goes in the direction of encouraging the spending of bitcoin during large price correction periods.
sr. member
Activity: 1092
Merit: 342
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In the part of Ecuador where I am, they have a bit of a bad idea towards the payments of some things in bitcoin, it may be a third world country with certain emotional attachments and they are afraid of having new advances, but the current of bitcoin is expanding, there are more and more volumes of operations in binance, and despite the fact that you cannot pay in a super market the amount with BTC, it moves a lot in the speculative markets such as localbitcoins.com.
legendary
Activity: 3668
Merit: 6382
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Well as OP stated, he needed to pay for the bike that day else he has to wait till the next week which he was not willing to do and he doesn't have any more fiat since he couldn't make the first transaction because of issues from the bank then the only option left would be to either pay with his Bitcoin. I understand most of us will want to continue to HODL our Bitcoin for the bull season but when you really need a service or Goods and there is an opportunity for a Bitcoin payment, I don't think that's a problem cos most have actually been clamoring for a fiat replacement with Bitcoin Wink

You could have been reading a bit more into the topic. OP has also bought back the bitcoins since he's using them for day trading.
Also stating afterwards that the price did go down... doesn't help much.
hero member
Activity: 1344
Merit: 565
It is not a surprise for me though because I have used bitcoin to purchase online before, what happened was that fiat payment was disabled at that time but I was able to use bitcoin for it and it worked.

One thing I notice is that you've spent your coins in the middle of the crypto winter, so maybe you will consider buying them back when the bank solves their issues. (However, nfa, please decide for yourself..).
Bitcoin price has gone down, it means no two thing than the bull market is still coming to make bitcoin price reach all-time-high. I will not think two times to convert the fiat to bitcoin. I prefer not to use bitcoin directly, I see it more as investment than payment.
Well as OP stated, he needed to pay for the bike that day else he has to wait till the next week which he was not willing to do and he doesn't have any more fiat since he couldn't make the first transaction because of issues from the bank then the only option left would be to either pay with his Bitcoin. I understand most of us will want to continue to HODL our Bitcoin for the bull season but when you really need a service or Goods and there is an opportunity for a Bitcoin payment, I don't think that's a problem cos most have actually been clamoring for a fiat replacement with Bitcoin Wink
full member
Activity: 2520
Merit: 214
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this is something we must be thankful in Bitcoin transacting that Banking , when we are being denied at least Bitcoin saves you and that is what important here.

congratulations mate , the 2 wheels looks great and at least you have something you can say that bought from your hard  earned in cryptospace.

also thanks for sharing as you will encourage many to have the same action to help crypto and also help themselves .
legendary
Activity: 2044
Merit: 1075
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This is really not a shock to me. Because, I have been in crypto for nearly a decade now and I can say that I bought so many stuff with bitcoin. Never a physical thing like a bike of course, but I did purchased a ton of services, and a ton of online stuff, hell I even paid someone to get me something I couldn't find.

I needed something online but I couldn't find it anywhere, told people somewhere that I will pay 10 bucks to first person who finds it, and someone did in like half an hour Cheesy. So all in all, crypto and using it like a currency is a very crucial part of crypto and should be seen a lot more used, instead of just an investment that people are using it right now.
hero member
Activity: 1820
Merit: 537
Congratulations on purchasing a new vehicle using Bitcoin. BTC is really an emergency saver. I've heard several situations where in Bitcoin saved their day from unexpected situations. It's really good to hear that more Bitcoin users allow Bitcoin transactions, especially in their businesses. I hope that more merchants will consider accepting BTC or any form of cryptocurrency which will be convenient for most of us.
sr. member
Activity: 1610
Merit: 301
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I'm just thinking if the dealer will still or continue accept bitcoin in our current market scenario.
I think there will be no problem here, if the dealer fears bitcoin volatility, then just accept bitcoin as payment and then convert it to fiat as soon as the transaction is confirmed. The acceptance of bitcoins will not be affected by their price, as bitcoins can be converted into another asset at the time of the transaction.

I'm wondering if the dealer's owner will keep the bitcoins or convert them to fiat after receiving the bitcoins from the OP.
member
Activity: 672
Merit: 16
Congratulations on  getting your new bike with bitcoin without any stress,  bitcoin can never fail. It is not like the banking system that when the network is bad it can take a longer time to work fine again.it is also nice to know that dealer know about bitcoin,  it is a great experience.
sr. member
Activity: 2618
Merit: 439
I fired away with this thought in my mind --->"my bank failed me, but Bitcoin came to my rescue"



 First congratulations to your first Bitcoin Full transactions in which really cool as you have bought a first motorized equipment .

But what I love most is the part that I quoted in which mainly favoring the bitcoin and the whole crypto currency community.

maybe the next target is 4 wheels?  Grin  Grin  Grin
newbie
Activity: 22
Merit: 0
That's a nice scrambler type bike you acquired! We can feel the excitement when you purchase something using bitcoin and when you least expect it. It's also nice that the dealer knows about bitcoin and accepted it as your payment, This means we are making progress in the adaptation and businesses started to accept bitcoin as a full payment for their products. I'm just thinking if the dealer will still or continue accept bitcoin in our current market scenario.
If he still is, believe me he is investing in bitcoin indirectly.
hero member
Activity: 812
Merit: 560
The nice thing about your experience is that you have as a Bitcoin enthusiast dude. You think there is a problem with your bank account and you are told that it will be resolved in 24 hours, then in a flash when you ask the person assisting you if he is willing if you pay Bitcoin, he agrees even though he hesitated at first but in the end he still trusted what you said and was happy to transfer Bitcoin to the address he gave you. You both helped each other from what I saw in your story.

There are things naturally orchestrated to happen and are inevitable, this is far beyond thier imagine that such could occur not to talk of taking place, but i lobe one adage that says "a closed mouth is a closed destiny" i appreciate the fact that they both take good advantage there in bitcoin and see the benefit that lies in having an investment with it over a long period of time, i believe in little time to this, they will both appreciate the incidence especially the seller.
legendary
Activity: 1064
Merit: 1228
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So far I haven't acquired anything using bitcoin as a means of payment, I'm too curious how I can do it and whether my story will be as welcome as your story.  Cheesy - But congrats, you've done it with bitcoin.

I'm planning on buying a new laptop in the next few months and maybe I'll try the bitcoin payment option instead of paying with fiat [if possible] but of course I'll have to find a seller that will actually accept bitcoin as a means of payment. I had plans to ask shop owners directly if they would like to accept bitcoin as payment for laptop, but I don't mind if they decline because I'm just trying to find out how likely I am to buy something using bitcoin in the real world.
legendary
Activity: 1176
Merit: 1056
Congratulations and best wishes to you for buying a bike with bitcoin payment. However, the way you bought Bitcoin you noticed that you bought the bike at a huge loss of money. If you were holding your bitcoin instead of buying a bike with bitcoin at the moment, you would be in a position to buy a micro car at some point. Anyway, the fact that Bitcoin has launched various transactions in your country is really great news for Bitcoin. Bitcoin transactions should be introduced in every country.
jr. member
Activity: 98
Merit: 2
Congratulations, this is a rather infrequent step. I just understand that now the rate has decreased significantly, and I would probably hardly buy anything for bitcoins now.
hero member
Activity: 1918
Merit: 564
It's really surprising that you bought this bike with Bitcoin payment.Bitcoin transactions have been and will continue to be introduced in various countries.The importance and popularity of cryptocurrency is increasing day by day.Maybe the time will come when the paper money that we transact will not exist. The entire transaction system will be in digital currency.Then maybe we will be able to trade through Bitcoin and more different currencies and buy different things.

Well, financial system development is leaning toward that Digital transaction.  It is not surprising that the agent is able to accept Bitcoin and then process the paper that easily since cryptocurrency had been around for more than a decade now.  I am happy for the OP for his new motorcycle and for a successful Bitcoin transaction to buy it, cheers!
hero member
Activity: 2660
Merit: 651
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The nice thing about your experience is that you have as a Bitcoin enthusiast dude. You think there is a problem with your bank account and you are told that it will be resolved in 24 hours, then in a flash when you ask the person assisting you if he is willing if you pay Bitcoin, he agrees even though he hesitated at first but in the end he still trusted what you said and was happy to transfer Bitcoin to the address he gave you. You both helped each other from what I saw in your story.
Yes, they both help each other. OP want the bike in his spare time and if he didn't get it on the day it will take him awhile to have another spare time but I believe the OP help the bike dealer the most because he accepted the Bitcoin as payment when we're in a bear market though he first hesitated because he dont OP is a Bitcoiner.
OP, story should be a lesson to other Bitcoiner not to rely on banks.
sr. member
Activity: 994
Merit: 441
It's really surprising that you bought this bike with Bitcoin payment.Bitcoin transactions have been and will continue to be introduced in various countries.The importance and popularity of cryptocurrency is increasing day by day.Maybe the time will come when the paper money that we transact will not exist. The entire transaction system will be in digital currency.Then maybe we will be able to trade through Bitcoin and more different currencies and buy different things.
hero member
Activity: 2282
Merit: 659
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I think it's really worth the experience not just by means of buying, selling, holding or mining BTC, but to actually use it for a real world transaction like a motorbike that you've just acquired. Congratulations by the way! Keep continue to inspire people about Bitcoin like sharing your real world experience about it.

How about create a customized sticker and put it on your motorbike saying "I've bought this motorbike with Bitcoin" along with the BTC logo too? It would definitely help at least for massive adoption around your area.
legendary
Activity: 3010
Merit: 1280
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Recently in a thread read about the real incident that happened with his life. On emergency he have admitted her wife for delivery. By situation he wasn't able to withdraw cash and make the payment to the clinic. He have requested the physician and the payments were made in the form of bitcoin. Same as that now a dream bike being bought using cryptocurrency when the banking features failed is really good. It also shows how effective the cryptocurrency payments were taking place when the third party service providers fail.

It is always great to have an alternative way of payment.  So I believe these two kinds of payment systems need not compete with each other but rather should complement each other.   Just like what happened in the situation of OP, without an alternative way of payment like cryptocurrency payment, he won't be able to finish the transaction that day.  It really saves us a lot of resources and time when we have alternative options if one is unavailable.
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