That's the reason why governments and countries can't adopt or fully legalise the usage of bitcoin currency as a currency for purchases or exchanging goods, because they can't put fees or taxes in every transaction, and they also can't track where and who is the receiver or sender. We understand their point because everything should have a system or rules to be followed, but bitcoin or crypto currency is unique in terms of its own technology and usage.
Yes, for me, it's okay or fine to buy or purchase things using bitcoin in my country. There are no rules that imply banning or treating crypto currency as illegal, but it will depend on the merchants or sellers if they offer crypto currency payment. It's rare, but when it comes to online transactions, crypto payment is one of the used options. Thankfully, the country where I reside doesn't give much attention to crypto currency, or they just don't have the power to do so.
Topic: Paying with Bitcoin. - page 5. (Read 965 times)
This also implies that buying goods and services would be faster and easier if more people owned and accepted Bitcoin.
Buying goods and services with Bitcoin will be easier but may not be fast due to the network congestion we're experiencing with the Bitcoin network unless both parties agree on using LN for the payment.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.
Bitcoin is not the answer to global economics at large. There are some corrections the government ought to do that will solve the global economic issue.reduce the rate at which bank charges are being paid
We don't know if this is still applicable ever since the Bitcoin spot ETF was approved some changes will happened and I once read that BlackRock wanted to bring the institutional banks in. ....
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.
Simply yes, Personally, I would be very happy to do it if possible. However, the problem is not only personal, but also due to government regulations in each country. Maybe some people could say, just leave it to state regulations, we can do it secretly. Well, that's possible, but it's too risky, because the threat of punishment is prison, so which one do you choose? Yes, choose to stay safe by obeying the regulations in my country, right? Because here, Bitcoin is legal as a commodity asset for investing or trading with its own risks. However, it is prohibited and it is illegal if used as a means of payment, and will be subject to sanctions.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.
Even if I want to shop with Bitcoin, then it will only be shopping globally, in the sense of ordering goods from abroad where there is a possibility of merchants accepting Bitcoin payments. However, it will actually become more expensive and much more expensive because there will be higher shipping costs, customs duties and so on. And of course the time will also get longer. That's why this isn't just a personal reason, but rather circumstances that don't support it. And this is one of the problems that Bitcoin is still experiencing and must face at this time.
What country do you live in where paying in Bitcoin is illegal? Is there a list somewhere of countries like this?
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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? If yes or no, please state your reasons so we can all learn from it.
Simply yes, Personally, I would be very happy to do it if possible. However, the problem is not only personal, but also due to government regulations in each country. Maybe some people could say, just leave it to state regulations, we can do it secretly. Well, that's possible, but it's too risky, because the threat of punishment is prison, so which one do you choose? Yes, choose to stay safe by obeying the regulations in my country, right? Because here, Bitcoin is legal as a commodity asset for investing or trading with its own risks. However, it is prohibited and it is illegal if used as a means of payment, and will be subject to sanctions.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.
Even if I want to shop with Bitcoin, then it will only be shopping globally, in the sense of ordering goods from abroad where there is a possibility of merchants accepting Bitcoin payments. However, it will actually become more expensive and much more expensive because there will be higher shipping costs, customs duties and so on. And of course the time will also get longer. That's why this isn't just a personal reason, but rather circumstances that don't support it. And this is one of the problems that Bitcoin is still experiencing and must face at this time.
Let us say that Bitcoin acceptance has been growing and many people are already accepting this as a mode of payment aside from known Fiat money. If both parties agreed to such a mode of payment then it was okay. In fact, many complete transactions like this have been made already which means that it was the decision and agreed options, we can decline the offer if we are not comfortable.
What we need is trust because this is an online transaction but as long as you are sure about it, then go.
What we need is trust because this is an online transaction but as long as you are sure about it, then go.
I clearly understood your point @ OP. You have grieves to exchange your Bitcoin assets which is potentialed to yield you incomes for the exchange of goods and services without increments in returns.
You verbally feels there would be lost count in such sceneros but I can tell you OP, even the fiat that is particularly used for and exchange of goods and services are also assets dependent on where it is banked (where it is deposited).
However, Bitcoin is primarily designed and invented for an
alternative means of payment of goods and services in replacement of the fiats otherwise, Bitcoin is a technological and digital assets currency with the potentials to profer incomes.
So with this reasons of Bitcoin inventory, yes of course @ OP, it is worth trading Bitcoin for payment and exchanges.
You verbally feels there would be lost count in such sceneros but I can tell you OP, even the fiat that is particularly used for and exchange of goods and services are also assets dependent on where it is banked (where it is deposited).
However, Bitcoin is primarily designed and invented for an
alternative means of payment of goods and services in replacement of the fiats otherwise, Bitcoin is a technological and digital assets currency with the potentials to profer incomes.
So with this reasons of Bitcoin inventory, yes of course @ OP, it is worth trading Bitcoin for payment and exchanges.
It’s not wrong to use Bitcoin as an exchange for goods and services. Bitcoin is both an asset and a currency, sadly many people see it only as a asset and completely disregard the currency part. If we don’t use Bitcoin as money, how do you expect Bitcoin to have mass adoption? Companies and small businesses will have no motivation to add Bitcoin as a payment method if they don’t have enough patronage. I expect bitcoiners to take advantage of opportunities that gives them the chance of buy and pay for stuff with bitcoins.
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. 
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.
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.
It’s not wrong to use Bitcoin as an exchange for goods and services. Bitcoin is both an asset and a currency, sadly many people see it only as a asset and completely disregard the currency part. If we don’t use Bitcoin as money, how do you expect Bitcoin to have mass adoption? Companies and small businesses will have no motivation to add Bitcoin as a payment method if they don’t have enough patronage. I expect bitcoiners to take advantage of opportunities that gives them the chance of buy and pay for stuff with bitcoins.
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 consider BTC an asset, not a payment method.Currently, people in some countries can use BTC to pay via the Lightning Network very quickly and cheaply, but their effects on the economy are not too different. Privacy concerns can be replaced by the ability to easily manage and retrieve bank accounts. A normal person tends to choose the latter.
In El Salvador, economic success comes from the publicity that BTC brings to the country, helping to attract tourists and investment. This would not have happened if BTC were widely accepted globally.
Additionally, governments do not want to give up economic management through fiat. I'm not saying the government is always right, they can even make the situation worse, but at least the government has the necessary tools at hand to save the economy when necessary through fiat.
Therefore, I think I should just continue to consider BTC as a financial tool in the investment field, I am not willing to spend in BTC, and I am also not willing to accept payment in BTC
Make use of bitcoin for any purpose you see it could best applicable for just as to serve you right, the reason why Satoshi created it is for everyone to make use of it for our financial economy lives, don't focus much on the challenges that may comes in with bitcoin adoption, everyone of us will have to use it and avoid being distracted through any discouraging means targeted on us in stopping us from using bitcoin as payment medium.
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.
It is perfectly acceptable to purchase items with bitcoin; after all, it was created to serve as an alternative to the traditional currencies we use. Paying for items with bitcoin is dependent on whether the person you want to transact with is willing to accept payment in that currency or prefers fiat or another valuable asset that can be traded. Bitcoin, like any other asset, is highly volatile, and while it has many advantages, it also has some drawbacks. If you can weigh your chances and decide how long you want to keep them, you'll be profitable; otherwise, you'll be at loss.
It would depend on the transaction fee if I could save more on using crypto or Bitcoin then Yes I would use it, even if it means losing a chance to earn more in the future specially if I really need what I am paying for.
But if it would only be the same as paying with fiat and I do have fiat to pay for it then I would rather use Fiat than my crypto.
So for me it would depend on the situation.
But if it would only be the same as paying with fiat and I do have fiat to pay for it then I would rather use Fiat than my crypto.
So for me it would depend on the situation.
This is the same as knowing what you stand to lose or gain when trading any of the currencies available with the person. Transaction fees could be considered, but it doesn't really matter to me if I can get more than what I'm using to send plus the value I'm sending in the long run, depending on how much I want to keep that asset. Every method works; simply calculate which one will be most profitable for 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.
Yes, you can do this with service providers and businesses that accept Bitcoin as a means of payment. You can also trade with your agreement with the seller personally. I mean if your country doesn't legalize Bitcoin and crypto as a means of payment. but the seller of the service or goods you are targeting understands and uses Bitcoin. You can ask and make a personal agreement with the seller regarding payment using Bitcoin.I have also done that for buying and selling computer equipment. Coincidentally he is not too far from my area. I asked if he accepted Bitcoin for payment, and he said yes. then the transaction can be carried out. it would probably be seen as bartering. between goods and Bitcoin assets that I own. This applies in countries that do not legalize Bitcoin as a means of payment.
Bitcoin was meant to be used as money, so paying with Bitcoin meant using it as intended. There's nothing bad in it for Bitcoin because usage means liquidity, and it's not good for a currency when it is just stuck and not moving at all.
Sadly I'm saying that the volatility of Bitcoin is not a big deal for Bitcoin to be an efficient payment mode and currency, but the network fees and scalability issue of Bitcoin is making things messed up, Bitcoin cant be a good option in the future anymore as a payment mode.
Bitcoin from now onwards will be treated as an asset class. After the ETF approvals I can say more confidentially that now with the transaction load we cant use Bitcoin because its way more expensive to use the Bitcoin network.
First of all Bitcoin was not created as an asset to hodl or investment rather as a P2P transfer medium without any third party intervention and to be honest it's absolutely okay to use Bitcoin for buying stuff as it can go either way because price will be fluctuating. I personally have sold Bitcoin and exchanged it to buy stuffs when there was emergency and yeah now people have better P2P options and Bitcoin cannot match their speed even but in terms of security Bitcoin wins the race.
Need to understand one thing that you need fiat in first place to buy Bitcoin.
Need to understand one thing that you need fiat in first place to buy Bitcoin.
It would depend on the transaction fee if I could save more on using crypto or Bitcoin then Yes I would use it, even if it means losing a chance to earn more in the future specially if I really need what I am paying for.
But if it would only be the same as paying with fiat and I do have fiat to pay for it then I would rather use Fiat than my crypto.
So for me it would depend on the situation.
But if it would only be the same as paying with fiat and I do have fiat to pay for it then I would rather use Fiat than my crypto.
So for me it would depend on the situation.
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.
You main question in this aspect is because Bitcoin is a digital currency that have potential of becoming globally accepted, and the amount of bitcoin you are using to pay your goods might worth 10x more its current value that is you are curious and asking why spending the bitcoin instead of fiat, but the truth is that, you can only use what you have to make payment, if you only have bitcoin, then you have no choice than to use the bitcoin you have for payment.
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
For example, I have different categories of savings in cryptocurrency, the first is a reserve that I systematically replenish and the second is something that can be converted and spent and traded or used in various activities, this is an advantage since I am not tied to only one source.
But the question is - where will you find a user who is willing to accept bitcoin for selling their product to you?
To begin with, maybe on this forum if we visit the Services and Goods boards - a lot of people offer their services and goods for Bitcoin. Outside the forum, there are many sites that contain links to various online and physical merchants that accept Bitcoin such as https://spending-bitcoin.com or https://btcmap.org/map
At present, merchants accepting bitcoin are few and gift cards are another option (fees hurt!).
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I would not agree that there are too few of them, although it still depends from country to country - US&Canada have approximately 90% of all crypto ATMs, and some country have far more places where you can pay with Bitcoin than several countries combined.
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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? If yes or no, please state your reasons so we can all learn from it.
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.
Personally, it's perfectly fine and acceptable for me to pay with Bitcoin because it should be a cryptocurrency in the first place. People who have never used Bitcoin as a currency will always find an excuse not to, whether it's that the fees are too high, or they have nowhere to spend it.
Bitcoin was meant to be used as money, so paying with Bitcoin meant using it as intended. There's nothing bad in it for Bitcoin because usage means liquidity, and it's not good for a currency when it is just stuck and not moving at all. As long as you're okay with the fees and waiting time (for the first confirmation on Blockchain), using Bitcoin is totally fine. But here I want to point out that you, op, are talking about the positive impact of wider Bitcoin adoption, whereas it's not that simple: Bitcoin can't handle too many transactions, so that sort of adoption requires off-chain solutions. Otherwise, the fees will get very high, and lots of transactions will get stuck.
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