Topic: Paying with Bitcoin. - page 4. (Read 891 times)

Accepting payments through Bitcoin will only be possible when the transaction fees are reduced significantly, but in reality, sometimes Bitcoin transaction fees increase to such an extent that it becomes impossible to accept any payments through Bitcoin. When Bitcoin transaction fees drop, accepting payments in Bitcoin will never be the only business case.

 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

Actually like what you said above mate it's okay to pay Bitcoins for goods and other foods as long as the merchant/seller have Bitcoin too and they posted that they will accept bitcoins then nothing is wrong about you can buy what you want and pay with bitcoins. There's a store here in my country accepting Bitcoins as a mode of payment which pretty good enough if the buyer is also have Bitcoins then they can buy some goods. Maybe in the near future Bitcoin will be accepted in all countries.

It is ok to pay for goods and services with any currency you have available if the seller is willing to accept as a means of payment. Taking bitcoin this special by some people is because it is a digital currency that is yet to be completely legalized globally, and many people also wants its global adoption, if not it is just the same as using your money for payment.

Despite the fact that, bitcoin is a currency it has higher asset features which is something that we have to align ourselves with and the reason why many bitcoin holders don't want to use bitcoin for payment rather store it as a store of value, and also due to the techenicality of bitcoin, it rather being used to store values rather than a currency.

Although if the receiver who is the seller of the goods or services, is well knowledge about bitcoin and the sender agree to pay with bitcoin, why not, bitcoin transferable features makes that to be very easy to achieve since one can comfortably send any amount from the total balance to the recieving wallet.

So yes bitcoin can be used for payments.

So, after reading a thread and realizing that paying with Bitcoin would mean that you'd be paying with future returns,

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.

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So, I would love to ask and get this confusion over with. Is it ok for you to purchase items with Bitcoin?

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.

I don't know if using bitcoin as a payment method in other countries is correct as you said. But honestly, I don't think bitcoin will become a currency in the future. When from the very first days people saw it as a speculative asset, when ads about bitcoin ETF were all over social networks and they called it an investment, not a currency. So the idea of it becoming a currency seems to have disappeared, not to mention the government will never let that happen because they can't control it.

The reason behind the innovation is to serve as an alternate to the momentary system and take away the intermediary. Due to the tremendous growth of cryptocurrency, people started to prioritize bitcoin and other cryptocurrencies as assets rather than a medium of exchange. In some countries, it is possible to see increased acceptance of bitcoin in specific locations, whereas the same isn't happening all around due to different governments having different opinions on cryptocurrency usage. It takes time for a massive transition.

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, 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