Topic: How often do you transact in the real world with your bitcoin or digital money? - page 5. (Read 1046 times)

Practically every day I guess, but I'm not sure what you mean by real world as the example you gave kinda means physical world.

I deposit/withdraw and spend for sure every day either on gambling (which is the most) and paying back friends for bill split (one person pays for all of us and we split later, I send and they send me back, BTC, it's like our way of using BTC without selling it), and rarely but sometimes gaming.

If you take out gambling then it becomes maybe once every 1 or 2 weeks.

If you want to use the bolt card with CoinCorner, yes, of course you need KYC. But the card itself is simply an NFC card. You basically just write a LNURL-withdraw link into it, that's it.

You can setup the bolt card, or any NFC card, to work with your lightning node directly, as I mentioned in my previous post.

So, basically, if you want to use the exchange, you need KYC, but the card doesn't need to be used with the exchange.

Actually not so much and Im not sure when was the last time Ive used btc for a transaction. Maybe because people usually convert ito stablecoins first and then withdraw to fiat. Thats the common, but I have a dream to use my btc earned from giveaway and signature campaign to buy a dream car someday, its like using it actually to trade for a car (brand new) that accepts payment of btc.

In the last 1 year I rarely used bitcoins for any online transactions. I am trying to rebuild my crypto portfolio and avoid using cryptos for payment as much as possible. Only for gambling I am using my crytpos, but that doesn't count as real world transactions  Among friend we also don't really use cryptos, I know that some of my friends hold them only for long term investment. Back in 2016/2017 I used bitcoins very often for online purchases, like computer hardware. My biggest purchase was a new bicycle after I sold all my CSGO skins for bitcoins. Using digital money seems a bit easier for me, because I can get rid of my fiat money. PayPal is probably the most used for me when doing online purchases. My goal is basically pay with fiat and save with cryptos.

The OP is very fortunate to have many friends who accept Bitcoin and Altcoins as payment.

What I buy with Bitcoin is subscriptions to an e-mail provider, my web domain subscription
and the hosting of it too.

I also buy items from the Collectibles section of the forum from time to time always with
Bitcoin ^{the odd time maybe paypal}

Regarding day to day items thats FIAT by card very rarely cash.

Well, not that often. I do purchase things online with bitcoin but this time, as the price went down, I'm trying to keep it as much as I can. In my neighborhood, I don't know how many are we on this but I've known folks that got to know crypto just because of the NFT games. But having bitcoin to spend with, I don't think so that they're so into it because the craze and hype are done. I guess they're also done with the market as that's the common mindset not just on this neighborhood but also with most newbies that get to know bitcoin lately.

According to some articles[1] on their website, they require KYC for your account to be setup before you can use the Boltcard for direct bitcoin payments via lightning network, which I believe contradicts bitcoin's initial use case. Or is it likely that I'm overthinking this?

[1] https://support.coincorner.com/hc/en-us/articles/360001559953-Verifying-my-account

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As for the topic, I wouldn't call myself using bitcoin for payments as I need to constantly convert bitcoin into our local currency either by using Peer-to-Peer(P2P) with some of my crypto acquaintances.

In fact, I have yet to see a local establishment that states "bitcoin payment is accepted," which I believe is understandable considering how unpredictable Bitcoin's price is and how technicalities are prone to human error are required.

I wonder how many merchants are afraid to publicly disclose that they are accepting cryptocurrency payments. The number must be huge.
Many merchants probably don't want to reveal that they accept crypto, because of some sort of "crypto is a scam" stigma, which might hurt their legitimacy. I would never ask any shop owner about whether or not he accepts crypto payments. Maybe I would feel embarrassed to ask.
Anyway, I don't use BTC for daily payments, because I'm a hardcore HODLer and the amount of merchants accepting BTC in my town is close to zero. I know that without even asking them. The people in my town aren't tech savvy.

There's no way to transact directly Bitcoin in my country. The only thing that I can use my Bitcoin directly is by paying my bills online using the local cryptocurrency wallet app but they are still converting it first to PHP it's literally not a direct transaction. I don't know if other countries' business establishment allows BTC as a direct payment.

I remember that a coffee shop owned by my friend start to accept Bitcoin in 2017 and I love paying Bitcoin directly on it but he stop accepting when the price of Bitcoin dumped hard after reaching the first ATH to 20K. Until now he still didn't want to involve crypto in his business due to the loss that he got last time he accepts it and invested some of his shop profit.

It all depends on the area you are staying. If you have merchants in your area who accepts crypto payments, then why not! But unfortunately, majority of the crypto holders do not have such facilities available. If I look at my area, I will hardly find anyone else who had heard the name of bitcoin.

So it all depends on the options available. In my country,  a specialized technology called UPI has taken over the digital payments by storm and outperformed China in the number of digital payments and took number one spot.

So in my country, crypto payment is not a very cost effective idea. So it's best to keep them as an investment.

There are things like bitcoin is not much accepted in my country and have to find some place that would accept it as payment mode but don't know about them.Second also don't have enough btc to spend them now online also and want to save them for future profits so at this time more preferably holding is best solution for me.

But yes digital payment through banking is more common and have mix use of fiat at small stores and for big payments use these digital modes.

We have a popular app here which allow us to convert crypto to our local fiat currency and to pay different merchants (app partners) using crypto. If you include transactions like that (not P2P), it's at least twice a week month for me. The frequency could increase soon because an even more popular app that's widely used by merchants in malls and department stores is already working on integrating crypto wallets.

I don’t use Bitcoins to transact frequently.
Yes whenever i am unable to get to my cash, or when it’s required to pay anonymously, then i used Bitcoins.
I mainly treat Bitcoins as asset, and therefore try to store it as much as possible and sell it at a later period of time.

Regarding digital money, then to be frank it has become the part of daily life.
In my country, many places digital payments are accepted, so yes i use it whenever possible.
Also while buying online I prefer paying online, as it helps to get some discounts in some site.

personal use/lifestyle stuff:

bitcoin:
in 2014 it was mostly every day.. but in 2022 its mostly once a month

debit cards
in 2014 it was few times every day(buy daily convenience).. but in 2022 its maybe once everyday (but mainly weekly shop and less daily convenience)
.. covid and bitcoin taught me over the years to bulk buy and hoard, before the supplies dry up

paper cash
in 2014 it was every day.. but in 2022 its mostly once every 6 months

I have been around ever since 2014 and I honestly have never seen anybody in real life that accepts altcoins as payment. You may find some places here and there on the internet that accept altcoins through payment processors which would give them the fiat equivalent right away into their bank accounts but never in real life.

I've seen Tether be used for P2P trading too but that is not payment. For example I recently sold a tiny amount of bitcoin for Tether and then dumped it for fiat through P2P trading.

I have never used bitcoin as a means of direct payment. because my profession or job makes me paid with ordinary money.

But I am interested and like your suggestion or your story about asking the shop owner directly about whether or not you can pay using bitcoin. Because I also think that there are actually a lot of shop owners who are familiar with crypto or bitcoin in particular. But certain situations keep them from making the bulletin board accept crypto/bitcoin payments. Maybe I'll also try asking the shop owner if he knows crypto and accepts crypto as payment.

My every day transactions are done exclusively through credit card tapping. In extremely rare circumstances I would use cash.

I'm now waiting for my Bolt Card which should in theory allow me to do the same, paying with lightning by tapping with the card, and it would connect directly to my lightning node, and pay for the requested amount of Bitcoin.

Note that even though this card is advertized to be used with CoinCorner, you can set it up to work directly with your lightning node.

Of course most shops are still living with legacy merchant checkouts, but covid has accelerated a bit the usage of cashless checkouts, so I hope more stores start using BTCPayServer and similar checkouts, which works with the NFC card

Bitcoin: not as much as I want to. Could only spend bitcoin on servers and domains.

Digital money: If you mean like PayPal and such, then almost daily. Physical cash transactions getting slowly but surely less-frequent.

since 2021 I quite often make transactions or buy some items from my friends who have shops with payments using bitcoin or other altcoins. because in my area there are no shops that accept bitcoin payments in general. but this is not an obstacle for me and my friends as fellow cryptocurrency users. I happen to have many friends in my area who have various professions and all of them are already familiar with crypto and trading crypto as an additional income and investment.

so I often transact with my friend using bitcoin.

and a few days ago I have bought a wardrobe for my son and payment with bitcoin. because I bought it by chance from a friend of mine who also accepts digital money as payment. and a few weeks ago I also bought an SSD for my laptop but at that time I made a payment Not with bitcoin but using BNB. because my friend needed BNB that time.

and it turns out that when are a shop there is no writing accepting payments with digital money. doesn't mean he doesn't accept it. but maybe he hasn't opened it publicly yet.

because we can ask the store even though there is no writing accepting bitcoin but at least try asking. because I recently did it. ie ask a store that has absolutely no writing accepting payments with bitcoin. but it turned out that after I asked the shop owner directly, it was very coincidental that the shop owner also played crypto and he explained to me that he could also accept bitcoin as payment but specifically. he deliberately did not write because the reason turned out to be that I also just remembered that in my country bitcoin as a means of direct payment is not yet legal. and that's the reason the friend and shop owner I asked didn't write a post on his shop about accepting bitcoin payments.

maybe friends here can also try it. and have you guys done it too and what items have you recently bought with bitcoin payments?

How often do you transact in the real world with your bitcoin or digital money?