When it compares with traditional banking, you'll get below main advantages by paying in Bitcoins.
1. Decentralization
Bitcoin operates on a decentralized network, meaning it's not controlled by any single authority, government, or financial institution. This can provide a level of independence from traditional banking systems.
2. Security
Bitcoin transactions are secure, irreversible, and do not contain sensitive personal information, which can reduce the risk of identity theft and fraud.
3. Lower Transaction Fees
Transaction fees for Bitcoin payments are typically lower compared to traditional banking and credit card fees, especially for international transactions.
4. Fast Transactions
Bitcoin transactions can be processed quickly, particularly when compared to traditional banking systems, which may involve delays due to verification processes and intermediary institutions.
5. Accessibility
Bitcoin can be accessed and used by anyone with an internet connection, providing financial services to people who may not have access to traditional banking systems.
Topic: Paying with Bitcoin. (Read 880 times)
After doing my research, I came to realize that this may probably be influenced by personal choices. Because looking at it thoroughly, some people would pay for items using things like Gold, Land, and other assets. But in the eyes of a money literate, that may be totally wrong.
So, I would love to ask and get this confusion over with. Is it ok for you to purchase items with Bitcoin? If yes or no, please state your reasons so we can all learn from it.
Thank you
So, I would love to ask and get this confusion over with. Is it ok for you to purchase items with Bitcoin? If yes or no, please state your reasons so we can all learn from it.
Thank you
Buying and selling bitcoin is still pretty ideal. It looks like we'll be going through a lot of bubbles over the next few years as this currency becomes more widely understood, used and accepted and it's true that the biggest risk is regulation but why not as long as it's legal where we live but If we look at the development of BTC, many people now see this potential.
So, after reading a thread and realizing that paying with Bitcoin would mean that you'd be paying with future returns, I went on to research the topic of paying for goods and services with Bitcoin.
Bitcoin is decentralized meaning that it can be transferred to anyone without the interference of intermediate/ central authorities. This also implies that buying goods and services would be faster and easier if more people owned and accepted Bitcoin. If Bitcoin was adopted and accepted as a means of exchange in many countries then there would be a huge improvement in various and global economies.
It'll enable more people to access financial services and knowledge, reduce the rate at which bank charges are being paid, values gotten by sellers will increase rapidly, anonymity and many others. Apart from the loss on the buyers's part, Bitcoin has lots of disadvantages which would be challenges and pose lots of unhealthy risks if adopted.
After doing my research, I came to realize that this may probably be influenced by personal choices. Because looking at it thoroughly, some people would pay for items using things like Gold, Land, and other assets. But in the eyes of a money literate, that may be totally wrong.
So, I would love to ask and get this confusion over with. Is it ok for you to purchase items with Bitcoin? If yes or no, please state your reasons so we can all learn from it.
Thank you
My goal is to accumulate regularly in small amounts (DCA) and I plan to use Bitcoin for payments from 80k USD and above.
[...]
If yes or no, please state your reasons so we can all learn from it.
Thank you
The answer is "yes", but... why would you? Paying for something with Bitcoin is just like paying for something with your TSLA or MSFT shares. You can technically do it, but why would you? Bitcoin might be a good investment, but it's turned out to be very poor for transactions, as they are extremely slow and extremely expensive compared to the available alternatives.
So don't pay for things with Bitcoin directly, just convert some of your BTC to USD (or whatever sovereign currency) and perform the transaction the way you normally would. There's no advantage to paying directly with Bitcoin (assuming the payee even takes it), and lots of disadvantages.
Although it didn't start out this way, today Bitcoin is in all practicality an investment instrument, not a currency.
I like your idea because not every place in the country accept bitcoin or even know anything about bitcoin. So it mush better to change or convert the bitcoin to any currency of your , chiose
As uncommon as this allegation may be, it is true, and my experience has been many. This was what forced me to use USDT if it is allowed where I am transacting than using Bitcoin. The issue is that many companies are using a third party for their payments and these third parties are using the opportunity to swindle their customers. At times, I would want to send a Bitcoin worth of $1000 when I withdraw, but I might end up seeing $991. Can you believe it? This is despite there was no congestion in the Mempool.
If asked, you will hear it is the third party that is setting the price. What nonsense. With either $ to USDT or $ to $, such does not happen.
But Im still loyal to Bitcoin. More than a currency, it signals financial freedom. Your frustrating experiences are not a reflection on Bitcoin, but of its ecosystem. Third-party middlemen' opaque fee structures remind Bitcoin of the systems it aspires to escape.
I defend the money and its values. We create an inclusive and transparent financial system by overcoming the hurdles of a decentralized financial future. Bitcoin leads this battle with its peer-to-peer transactions. Progressing toward Bitcoin's autonomy and transparency principles is key.
After doing my research, I came to realize that this may probably be influenced by personal choices. Because looking at it thoroughly, some people would pay for items using things like Gold, Land, and other assets. But in the eyes of a money literate, that may be totally wrong.
So, I would love to ask and get this confusion over with. Is it ok for you to purchase items with Bitcoin? If yes or no, please state your reasons so we can all learn from it.
Thank you
So, I would love to ask and get this confusion over with. Is it ok for you to purchase items with Bitcoin? If yes or no, please state your reasons so we can all learn from it.
Thank you
Buying and selling bitcoin is still pretty ideal. It looks like we'll be going through a lot of bubbles over the next few years as this currency becomes more widely understood, used and accepted and it's true that the biggest risk is regulation but why not as long as it's legal where we live but If we look at the development of BTC, many people now see this potential.
[...]
If yes or no, please state your reasons so we can all learn from it.
Thank you
The answer is "yes", but... why would you? Paying for something with Bitcoin is just like paying for something with your TSLA or MSFT shares. You can technically do it, but why would you? Bitcoin might be a good investment, but it's turned out to be very poor for transactions, as they are extremely slow and extremely expensive compared to the available alternatives.
So don't pay for things with Bitcoin directly, just convert some of your BTC to USD (or whatever sovereign currency) and perform the transaction the way you normally would. There's no advantage to paying directly with Bitcoin (assuming the payee even takes it), and lots of disadvantages.
Although it didn't start out this way, today Bitcoin is in all practicality an investment instrument, not a currency.
I like your idea because not every place in the country accept bitcoin or even know anything about bitcoin. So it mush better to change or convert the bitcoin to any currency of your , chiose
As uncommon as this allegation may be, it is true, and my experience has been many. This was what forced me to use USDT if it is allowed where I am transacting than using Bitcoin. The issue is that many companies are using a third party for their payments and these third parties are using the opportunity to swindle their customers. At times, I would want to send a Bitcoin worth of $1000 when I withdraw, but I might end up seeing $991. Can you believe it? This is despite there was no congestion in the Mempool.
If asked, you will hear it is the third party that is setting the price. What nonsense. With either $ to USDT or $ to $, such does not happen.
If you ask me then, I personally don’t like to spend Bitcoins to buy other items. The reasons are pretty clear. Bitcoins are fixed in numbers, that is the supply is limited. Hence we can consider Bitcoins are very rare and valuable. Now why to spend these valuable items. We know that prices of Bitcoins are increasing day by day. Hence it will better to keep it with you only rather than spending here and there. Instead of spending these rare coins, accumulate and hold it for long term.
he main distinction between Bitcoin and money is that the former has been accepted by the public for some time now, even in the absence of government support.
This acceptance is extremely small compared to the traditional market of commodity-money (fiat) relations.For this reason, the government is actively opposing Bitcoin, and as long as it remains widely accepted, I fail to see why the government is taking all necessary steps to maintain control over it and extract taxes from its users—activities that they have already begun to carry out.
Governments are against bitcoin because it deprives them of the sole right to control people through financial means. Money in the modern world is the same element of control as chains on slaves. Governments can't appropriate and manage bitcoin, therefore, they are against it and are trying to at least collect taxes from it. That's all they can do at this stage.and I love the way it was designed it is your choice to spend it or even keep it as an asset only we all know the purpose of money already.
No, many people don't know. The purpose of money is to use it as a medium of exchange in trade and monetary transactions. It is not a store of value, but the funny thing is that bitcoin has the characteristics of both a medium of exchange and a store of value.And I see that having few merchants would have considered a lot of things but if I was a merchant I would be glad to even receive Bitcoin as a payment method because it will favor me I will just be gradually accumulating and the people that pay with money I will use that money to get must of the things needed in the shop. and if it is about the fee there are times that the fees are always low but if the mempool is full then there will be a serious challenge whenever you want to make use of bitcoin. and that is life anything that has advantages at the same time has its disadvantages.
Will this benefit you if the bitcoin rate falls, and you need money to buy goods for your trade and pay employees and you don't have other free funds at the moment. Bitcoin is currently not very suitable for use as a means of payment. Even if you accept bitcoin as money for your goods and services, at the next stage you will use it as an investment asset, without selling it and holding it. If bitcoin were full-fledged money, you would send it further (to the supplier of goods for you) as a means of payment for the needs of your trade, but practically you will not be able to do this due to the low acceptance of bitcoin. [...]
If yes or no, please state your reasons so we can all learn from it.
Thank you
The answer is "yes", but... why would you? Paying for something with Bitcoin is just like paying for something with your TSLA or MSFT shares. You can technically do it, but why would you? Bitcoin might be a good investment, but it's turned out to be very poor for transactions, as they are extremely slow and extremely expensive compared to the available alternatives.
So don't pay for things with Bitcoin directly, just convert some of your BTC to USD (or whatever sovereign currency) and perform the transaction the way you normally would. There's no advantage to paying directly with Bitcoin (assuming the payee even takes it), and lots of disadvantages.
Although it didn't start out this way, today Bitcoin is in all practicality an investment instrument, not a currency.
I like your idea because not every place in the country accept bitcoin or even know anything about bitcoin. So it mush better to change or convert the bitcoin to any currency of your , chiose
Paying with bitcoin has been a thing already a few years back. While it is really good because it promotes alternative payment option especially to those who have crypto coins, the problem lies mostly on limited merchant that offers it. Because let's admit it, the process and fees could be longer and higher compared to using traditional payment options.
Transaction processing time and fees could bring more inconvenience than ease to the users which is a major downside when you pay using bitcoin. Additionally, the volatility of crypto can pose a significant impact on both ends. It needs established and clear guidelines on paying, whether it has to be direct conversion of crypto to fiat, or put a fixed amount whatever the exchange rate may be. I believe it still has a long way to go for this to be well-executed.
The main distinction between Bitcoin and money is that the former has been accepted by the public for some time now, even in the absence of government support. For this reason, the government is actively opposing Bitcoin, and as long as it remains widely accepted, I fail to see why the government is taking all necessary steps to maintain control over it and extract taxes from its users—activities that they have already begun to carry out. and I love the way it was designed it is your choice to spend it or even keep it as an asset only we all know the purpose of money already.Transaction processing time and fees could bring more inconvenience than ease to the users which is a major downside when you pay using bitcoin. Additionally, the volatility of crypto can pose a significant impact on both ends. It needs established and clear guidelines on paying, whether it has to be direct conversion of crypto to fiat, or put a fixed amount whatever the exchange rate may be. I believe it still has a long way to go for this to be well-executed.
And I see that having few merchants would have considered a lot of things but if I was a merchant I would be glad to even receive Bitcoin as a payment method because it will favor me I will just be gradually accumulating and the people that pay with money I will use that money to get must of the things needed in the shop. and if it is about the fee there are times that the fees are always low but if the mempool is full then there will be a serious challenge whenever you want to make use of bitcoin. and that is life anything that has advantages at the same time has its disadvantages.
Many countries accept bitcoin payments? Can you tell me which countries use bitcoin as a payment method? Additionally, which countries and how does bitcoin bring financial benefits?
I am not sure about all countries, but in our country, there is a place where you can pay with Bitcoin. We have a local wallet that is mostly used for transferring payments. If you have come across a specific thread that talks about Bitcoin payments in Boracay, which is located in our country. According to the thread, there are over 400 merchants in the area that accept Bitcoin as payment. However, from what I know, most of the users who use this payment method are tourists. 
Many countries accept bitcoin payments? Can you tell me which countries use bitcoin as a payment method? Additionally, which countries and how does bitcoin bring financial benefits?
Between being legal and being legal tender is different.With a Legal status, in one nation, you can use Bitcoin without legal issues.
With a Legal tender status, it means Bitcoin is supported by the national government, and every citizens there must accept bitcoin as a payment method. They can not illegally refuse a bitcoin payment from any customer.
https://coin.dance/poli/legality
Buying goods and services with Bitcoin is very easy and any transfer can be done quickly with Bitcoin. There are many places where products are bought and sold through Bitcoin where customers make their payments through Bitcoin and think this will help people to get a lot of returns at a time. Many countries have accepted payment by Bitcoin and there Bitcoin has been validated due to which they have got a lot of financial prosperity. For a country to be financially viable, it is certainly possible to benefit from Bitcoin, but it must be a long-term investment to be financially viable. However, if buyers and sellers implement such a system with Bitcoin, they may lose money at any time but gain both positive and negative aspects. Although the current generation who are there will use bitcoin and they are always improving and they will always buy items with bitcoin and this I also like payment method with bitcoin.
Many countries accept bitcoin payments? Can you tell me which countries use bitcoin as a payment method? Additionally, which countries and how does bitcoin bring financial benefits?
In theory, bitcoin was created as a peer-to-peer currency, but currently, it is only used for speculation and manipulation as a money game. And with a capitalization of less than $1 trillion, how can it have a positive impact on a country's financial economy?
I still believe that bitcoin can become an important asset for countries like gold, but that is in the distant future, not now. Currently, bitcoin has not yet been able to create any major impact on a country's economy, let alone the world.
Buying goods and services with Bitcoin is very easy and any transfer can be done quickly with Bitcoin. There are many places where products are bought and sold through Bitcoin where customers make their payments through Bitcoin and think this will help people to get a lot of returns at a time. Many countries have accepted payment by Bitcoin and there Bitcoin has been validated due to which they have got a lot of financial prosperity. For a country to be financially viable, it is certainly possible to benefit from Bitcoin, but it must be a long-term investment to be financially viable. However, if buyers and sellers implement such a system with Bitcoin, they may lose money at any time but gain both positive and negative aspects. Although the current generation who are there will use bitcoin and they are always improving and they will always buy items with bitcoin and this I also like payment method with bitcoin.
I get Bitcoin's dual role as an investment and a transaction medium. I favor long-term Bitcoin investing. Its not just about the big returns, but also the exhilaration of financial change. Decentralised Bitcoin is the future of money, in my opinion.
Internet access, transaction fees, and novelty are all issues with Bitcoin payments. I also see great potential. The growing acceptance of Bitcoin in many marketplaces shows its adaptability. I support using Bitcoin for transactions whenever possible to integrate this revolutionary money into our daily lives.
Some people have seen Bitcoin as a revolution in the field of payment transactions, although this pattern is not widespread. But for now I still see the opportunity for Bitcoin as an investment asset, not as a means of payment, and this especially applies to investors. Investing in bitcoin in the long term is one step to maintain the value of the currency we own, so that when we try to buy bitcoin the value will actually increase in the future.Internet access, transaction fees, and novelty are all issues with Bitcoin payments. I also see great potential. The growing acceptance of Bitcoin in many marketplaces shows its adaptability. I support using Bitcoin for transactions whenever possible to integrate this revolutionary money into our daily lives.
Anyone will support the revolution regarding bitcoin as a currency that is integrated like fiat, but this opportunity will still be quite limited for the next few years because people still think fiat is the best choice for now. However people tend to be objective and now it is just an investment asset that can be utilized much more even though we never reject the revolution.
Fiat currency is suitable for daily use. Bitcoin transactions lack their simplicity and stability. But I'll always support Bitcoin. Looking forward to the future of bitcoin integration. Bitcoin symbolizes financial empowerment and innovation, not just investment.
That is the advantage of bitcoin and we can see the adoption process becoming more widespread and this is happening because people are starting to realize the positive impact that it produces. Rejecting progress is not typical of generational development and usually the younger generation will be able to understand that more easily. 
After doing my research, I came to realize that this may probably be influenced by personal choices. Because looking at it thoroughly, some people would pay for items using things like Gold, Land, and other assets. But in the eyes of a money literate, that may be totally wrong.
Say what? Who's a "money literate" and why are you making assumptions about how they think or even care about their assumed opinions? Also, do you know anyone who's ever paid for anything with gold or real estate? I sure as hell don't, though it might happen in countries other than my own.So, I would love to ask and get this confusion over with. Is it ok for you to purchase items with Bitcoin? If yes or no, please state your reasons so we can all learn from it.
There never was any confusion, unless you're referring to your own. And I suspect you're asking a question that you already know the answer to. In fact, you did just that in the previous "paragraph" when you mentioned personal choices, because that's what it all comes down to. There are some people who've got so much bitcoin that it's not going to hit them too hard if they decided to spend some of it on a Tesla for example. I'd say most of us don't want to take on the opportunity cost of spending it, however, which you alluded to. Bitcoin might be headed toward a valuation that would make it stupid in hindsight to have spent it....but one never knows where the market is headed, does one?Pfft. Spend it if you want. That's the answer.
For some it might be okay to do so since it would just like selling your Bitcoin and then using that money to buy things that you wanted, but on the other hand that just means you are selling your Bitcoin which means that you might be selling it at a lose unless your selling it or your buying it when the market price skyrocket to the moon unlike the price when you bought it. For a time buy it probably wouldn't really hurt, but if you're going to use Bitcoin as your daily payment method for most of things that might not work, considering the fees in the mempool every transaction could potentially cost a huge payment of fee, especially on congested network so using Bitcoin at that time might not be a good idea, also congested network for sure is a problem of Bitcoin since it just limits our transaction if the fees are huge we cannot do any transaction if the transaction is already fee cost is already half of the transaction.
To be honest Bitcoin is not really ready as a digital payment or something that we could use on a daily basis, in my opinion, Bitcoin is great as an investment right now just because of its volatile market price and the potential profit that we might get in the future, it might get better in the future for sure because there are probably going to be a lot of upgrades in the network soon as Bitcoin continues to grow over time, but right now it is still now ready.
True Bitcoin supporter. I support it as digital gold and a hedge against market volatility. Bitcoin isnt part of my financial existence. Huge transaction costs and frequent network congestion make it unsuitable for fast, daily purchases.To be honest Bitcoin is not really ready as a digital payment or something that we could use on a daily basis, in my opinion, Bitcoin is great as an investment right now just because of its volatile market price and the potential profit that we might get in the future, it might get better in the future for sure because there are probably going to be a lot of upgrades in the network soon as Bitcoin continues to grow over time, but right now it is still now ready.
My opinion: transferring Bitcoin to fiat for daily spending is smarter currently. Through this method, I avoid excessive costs and unpredictable transaction delays. Practicality and financial efficiency are more important than preventing losses from selling too soon.
My faith in Bitcoin's future and growth remains. With network maturity, my strategies may change. At the moment, I prefer investing in Bitcoin and using currency for daily requirements. It balances costs and delays so I get the most out of my investment.
Paying with bitcoin has been a thing already a few years back. While it is really good because it promotes alternative payment option especially to those who have crypto coins, the problem lies mostly on limited merchant that offers it. Because let's admit it, the process and fees could be longer and higher compared to using traditional payment options.
it is in the market indeed but the problem is limited stores and establishments that accepts bitcoin so that is the problem , this is also the reason why there are only few that manage to experience using crypto as payments.Quote
Transaction processing time and fees could bring more inconvenience than ease to the users which is a major downside when you pay using bitcoin. Additionally, the volatility of crypto can pose a significant impact on both ends. It needs established and clear guidelines on paying, whether it has to be direct conversion of crypto to fiat, or put a fixed amount whatever the exchange rate may be. I believe it still has a long way to go for this to be well-executed.
Yeah that is also one problem now the High transaction fees , how could you pay small items that needs to pay fees more than the amount of your going to buy. 
Bitcoin doesnt technically need to be recognized as legal tender to work as a payment system. Even if most stores in your area dont take bitcoin yet, there are still ways to use your cryptocurrency. For instance, you can connect directly with people online who will give you goods and services in exchange for bitcoin through peer-to-peer platforms and and more online retailers internationally seem to allow bitcoin every day, so online shopping with crypto may open up options.
I think the point is that Satoshi created it as a payment scheme (although it has evolved from that), borderless, doesn't really need any 3rd party in between. Although right now we have some services that acts like that, for a portion to turn our bitcoin->local fiat for our transactions. And it's because the problem with P2P is that the price is really volatile and that what makes online stores, big or small to take that risk and lately removing it as a payment method because of it's nature. But in any case, we can still used it, we can pay someone with our BTC, make online transactions with it without any hitch or problem. And who knows, it could be norm for the future, it Bitcoin will slowly grow, and many individuals will used it as designed.
I really have future plans to use bitcoin as a currency and use it to buy my needs and wants. But seeing it’s more profitable these days having bitcoin as a long term investment then definitely, I would never lost that chance or miss any chance that will contribute to the growth of my bitcoin collection. But of course, hodling should never be the only option at the end of the day. I know I have to sell them for future profits, or spend them to save some fiat and take advantage while bitcoin is at its high, expensive price which means you can buy a lot even with a small portion of bitcoin.
However, if one decides to use bitcoin as an investment and as a currency at the same time, I guess that will contribute a lot to its bitcoin promotion. Not only you will benefit from it but even the people around that have no idea about bitcoin as a currency. But the only problem is that the shops and stores that are going to accept bitcoin. Because as far as I believe, even store owners don’t see it as a currency but most likely for investment purposes.
However, if one decides to use bitcoin as an investment and as a currency at the same time, I guess that will contribute a lot to its bitcoin promotion. Not only you will benefit from it but even the people around that have no idea about bitcoin as a currency. But the only problem is that the shops and stores that are going to accept bitcoin. Because as far as I believe, even store owners don’t see it as a currency but most likely for investment purposes.
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