How many people here would choose bitcoin as their form of payment?

gmakaveli

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Quote from: Kurokonobasuke on April 08, 2020, 04:34:23 AM

When the bitcoin develops at 2008, many countries are adopted on it because it was a perfect used for all online transactions. As time goes by many people are using bitcoin nowadays specially on those playing e-gambling, because bitcoin is the most useful currency when playing e-gambling. Bitcoin is not yet spread over the world because there are some people that didn’t now on how to use bitcoin like poor people who doesn’t a deep knowledge about bitcoin because there are some countries doesn’t fully implement bitcoin in their countries.

Bitcoin gambling is huuuge now, and this is the only way I use BTC for now (and that's only because I can increase my BTC amount instead of buying it for fiat). I'd use it only whn the time comes, even if it's several years worth of wait

Kurokonobasuke

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When the bitcoin develops at 2008, many countries are adopted on it because it was a perfect used for all online transactions. As time goes by many people are using bitcoin nowadays specially on those playing e-gambling, because bitcoin is the most useful currency when playing e-gambling. Bitcoin is not yet spread over the world because there are some people that didn’t now on how to use bitcoin like poor people who doesn’t a deep knowledge about bitcoin because there are some countries doesn’t fully implement bitcoin in their countries.

Anonylz

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Exactly, volatility would be one major reason many people don't use btc as form of payment, as for me, I only use it occasionally to pay for online services and this is only when there is no option for fiat payment, though it feels good to be able to buy or pay for stuff with btc at the same time we will think about the fluctuations.

BTT4ME

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If you earned some bitcoin (due to the increase of btc's value), then by all means use it as a form of payment.

But due to volatility, depending on whether it's bear or a bull, converting to a stable coin might still be your best solution to avoid unexpected knee jerk loss from using your bitcoin as your form of payment.

Kelvinid

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I actually use Bitcoin to pay bills but it was of limited since not all establishments are accepting this option. Though we'd like to see that but somehow, we can't push owners to accept the risk knowing that its price isn't stable and might possible also that they suffer losses. This think will hold why establishments owners won't adopt the system instead of sticking into the old one. I believe the crypto market isn't mature enough for this and people are having less interest to adopt the system due its high risk.

luserbai

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Quote from: Jumperman4 on March 29, 2020, 02:55:12 PM

Firstly this is not a promotion, nor am I encouraging you to do the same.

I have been using bitwage to collect a portion of my pay check in bitcoin and ether. I have been considering while the price is low to just go all in or at least bump my allocation to 50%( 50% BTC/ 50% usd). With the fed printing more money the more I feel inclined to do this. Dont get me wrong I'm still buying undervalued stocks right now, paying Bill's and also trying to live a decent life.

Question:

I was curious if given the opition would you or would you not get all pay in 100% bitcoin.

My answer:

For me 100% is alot, considering I'd HAVE to sell some to pay bills/ expenses and stocks. But if given the ultimatum of bitcoin or usd, you can only convert out of btc, never into btc...I'd take btc.

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TheAndy500

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Quote from: Jumperman4 on March 29, 2020, 02:55:12 PM

Question:

I was curious if given the opition would you or would you not get all pay in 100% bitcoin.

You don't know what Bitcoin is until you get your first payments in Bitcoin, no middlemen, not much to pay for transfer fee and you get it in decent amount of time. I don't think getting everything in BTC will be great idea as we are very much dependent on cash to live our daily lives. I am happy to get 30% in btc while rest in cash.

ReiMomo

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We know that the Bitcoin price is very volatile, I will take the chance if ever my company want to pay a Bitcoin instead of cash. But, there is one condition, it should be a dollar base value of Bitcoin. You can benefit most if that is dollar base when the price of Bitcoin will down and then convert to fiat when it is going grow. There are too many stores as of now that will accept Bitcoin but the problem is, I don't think if dollar base value of a fix Bitcoin amount.

Bitcoin is a good choice to use as of now, fiat currency is very dirty at this moment. You may be infected of coronavirus while having physical contact on it.

valuater

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Quote from: joinfree on April 07, 2020, 10:20:08 AM

Well, I work with some companies in this industry and though I accept payment fully in Bitcoin and rarely Ethereum I still have to cash out in order to settle real-world debts like utility bills you know. Moreover, you still need to purchase groceries and all of that but I have planned to save 10% of every monthly pay for the long term holding.

With bitcoin means you can take advantage of what is one of the advantages when we use bitcoin in addition to just investing our funds in bitcoin, indeed with the current conditions where the corona outbreak is still widespread, we of course also have to think for the necessities of life.

But in addition to that, what needs to be paid attention to is when we invest funds in Bitcoin, the current price movements are relatively stable compared to currencies that are starting to sink.

joinfree

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Well, I work with some companies in this industry and though I accept payment fully in Bitcoin and rarely Ethereum I still have to cash out in order to settle real-world debts like utility bills you know. Moreover, you still need to purchase groceries and all of that but I have planned to save 10% of every monthly pay for the long term holding.

XCANA

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Currently I would rather do with Bitcoin as a method if payment than any other method because its faster than the others. For most of my purchases for now when it come to online, I usually make use of cryptocurrency available payment method at the moment.

Although, most if these services are not available for us as citizens here because of the government restrictions. Vendors aren't available also to make the process available for us but only for the online. If this service were to be available in my country, I would prefer Bitcoin to fiats anytime any day.

isaac_clarke22

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Quote from: LogitechMouse on April 04, 2020, 05:32:22 AM

Quote from: Jumperman4 on March 29, 2020, 02:55:12 PM

I was curious if given the opition would you or would you not get all pay in 100% bitcoin.

As of this moment, I think that most of us here will choose not to be paid in Bitcoin right now but in the future maybe some will do it.

I see two reasons why most will not choose Bitcoin as their form of payment especially in salaries.

1. Volatility - we know how volatile Bitcoin is. Today your Bitcoin's worth is $100 but tomorrow it can be halved or at the same time double. For some people, this is a bit risky because instead of having USD they choose to be paid in BTC and what if the value of Bitcoin lowered then they will receive a lower wage compare to if they just choose to be paid on USD which is less volatile.
2. Acceptance - not all establishments are accepting Bitcoin right now and it will be more hassle for them if they will choose Bitcoin as a form of payment because they need to convert it and then withdraw (unless they will transfer it to their cards). Now all establishments are accepting fiat currency so they will just accept USD as their payment instead of BTC.

Well outside crypto, I don't think that most of the companies will anyway.
In freelancing, I had read that crypto are paid to some platforms and that's quite nice. There are some online wallets that would allow people to convert BTC to local currency like my country uses, although I don't recommend anyone to use it.
New Zealand kinda allowed the salary payment, iirc starting September 1, 2019.

pawanjain

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'As form of payment' Yes I would love to get bitcoin as a form of payment. But the better option would be to get the payment as partially in bitcoin and partially in fiat as of now. Bitcoin is not yet fully established hence it would not seem wise to have the payments fully in bitcoin. You would definitely to convert it to fiat for some of the payments. Getting the payments fully in fiat also would not seem wise because as a bitcoiner I would want to buy some bitcoins with the foat money and hence I would have to pay a fee to buy BTC. Hence getting the payments partially in BTC and rest in fiat would be the best thing.

FlightyPouch

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Quote from: Jumperman4 on March 29, 2020, 02:55:12 PM

I was curious if given the opition would you or would you not get all pay in 100% bitcoin.

Well, I will be choosing to pay using my bitcoin. The fact that Lightning Network is developed is for this reason. I am not just making my transactions more convenient and efficient I am also helping in a way to circulate bitcoin more. I just hope people would accept bitcoin more here in our place, the thing here is that despite people having a lot of debit cards, they are still using the method of using cash.

plvbob0070

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Quote from: Jumperman4 on March 29, 2020, 02:55:12 PM

Question:
I was curious if given the opition would you or would you not get all pay in 100% bitcoin.

It depends on the people who will receive the payment. Not everyone wants to receive bitcoin as a whole payment because of its volatility. Not everyone would take that risk. But for me, I will agree to receive 100% bitcoin for the payment because I agree with the other members here, which if you already know the value of bitcoin why you should not choose it over the fiat. I mean, I know how the market works, and I have been holding bitcoin and other cryptocurrencies, so it's not something new if I would accept a hundred percent bitcoin payment. However, the only problem with this is the price, which we all aware that it's too volatile that's why it somehow too risky to accept bitcoin. Like what I have said, not everyone is willing to take that much of a risk unless you are used to it.

Sanugarid

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Quote from: sheenshane on April 06, 2020, 06:55:23 AM

Quote from: Meowth05 on April 06, 2020, 03:17:21 AM

I don't have a lot of holdings right now so I will chose to not pay my bills with bitcoin, my country does not yet fully accept crypto as a means of payment so I will just have to stick to fiat for now.

That's it, this will be a case to case basis. We can use Bitcoin as payment if there are many merchants near in our country that accepting Bitcoin as a payment. But unfortunately, they are also affected by this current pandemic lockdown. I don't also use my Bitcoin as a mode of payment, because for me, this can be valuable stuff that can I preserve and gain profit in the future.

It really depends in the place where you situated at, for some bitcoin spending is as convenient as the fiat but that's not always the situation. I'd just spend a cryptocurrency like bitcoin or ethereum since it is the most accepted ones when I got a win with it, more of like spending what I earned from the price fluctuation so the value won't decrease. However, converting it to fiat will be a better move isn't it?

Quote from: sheenshane on April 06, 2020, 06:55:23 AM

Most of the crypto enthusiasts that own Bitcoin, some of them are holding and using it for trading, not for the daily expenses. And, I'm the of them.

same, I've seen the potential of bitcoin less as a currency and more like of investment. You just need to ride the wave from people to get earn with it. Bitcoin as a currency right now is still vague as it is volatile as it was in the beginning.

Ridwan Fauzi

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That is something that will be hard to do, like @Yatsan said above me bitcoin transaction proccess is very low and also its not suitable to be used to pay some stuff with a small amount.

Bitcoin is really suitable as an investment/trading place thus far especially for me. I've done it for at least two years and so far I can slowly bought everything as I want. So, I think I'll be prefer to choose bitcoin as an income place instead of payment system.

fiulpro

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The only way I would choose Bitcoins as a payment system is when the one person am sending payment to decides to pay 100% of the fee .

At the same time , it is so much cheaper and easier to send Bitcoins overseas and with the lightning payment integrated in the normal wallets the fee part doesn't even bother anyone.

Also , you can actually just encash the Bitcoins right at the moment the payment is actually sent ...

Also it gives you amazing opportunity to connect with people overseas which increases your jobs opportunities at the same time if you are looking to hire someone it is more convenient .

perfect999

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You can’t put 100% of your money in Bitcoin. I don’t even know how much you have in fiat either, so I wouldn’t say that 50% in Bitcoin and 50% in fiat is also a good idea. Just like me, I don’t think my money in Bitcoin is up to 10% of what I have in fiat, but that doesn’t mean the money I have Bitcoin isn’t big, it’s also big in some way.

You just have to know how much you can afford to put in Bitcoin. And Bitcoin is not the only investment I am into, sometimes I buy lands when I feel like, right now I have two lands that are untouched and their worth has increased. I have also invested in gold but not as much as I have done in Bitcoin. I try to diversify as much as I can.

sheenshane

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Quote from: Meowth05 on April 06, 2020, 03:17:21 AM

I don't have a lot of holdings right now so I will chose to not pay my bills with bitcoin, my country does not yet fully accept crypto as a means of payment so I will just have to stick to fiat for now.

That's it, this will be a case to case basis. We can use Bitcoin as payment if there are many merchants near in our country that accepting Bitcoin as a payment. But unfortunately, they are also affected by this current pandemic lockdown. I don't also use my Bitcoin as a mode of payment, because for me, this can be valuable stuff that can I preserve and gain profit in the future.

Most of the crypto enthusiasts that own Bitcoin, some of them are holding and using it for trading, not for the daily expenses. And, I'm the of them.

Topic: How many people here would choose bitcoin as their form of payment? (Read 869 times)