Ever bought a smart phone, computer, other electronic device that you knew would go down in price soon after you purchased it?
Why didn't you save your money and wait for the price to go down? Why would you ever spend your money on something that loses value? Just hold and you can buy that device 2 years later when you could afford to buy 10, 20 of them with the same amount of currency.
Topic: [POLL] When Buying Groceries...would you use BTC, GOOG or USD...? - page 3. (Read 4640 times)
July 30, 2014, 07:20:07 AM
July 30, 2014, 07:01:06 AM
USD? Like 100% of the world uses USD for fiat, right?
July 30, 2014, 06:46:37 AM
Really depend on price.
If price is lower in bitcoin, then I will pay using btc. If not, then cash.
If price is lower in bitcoin, then I will pay using btc. If not, then cash.
Yeah, price is going to be a big motivator. Also it depends on whether or not I'm currently being paid in USD or BTC. If I have BTC cashflow and I don't have to convert fiat to USD then all else being equal I would pay with BTC.
July 30, 2014, 06:22:00 AM
Carrying BTCs around is quite risky, as well as inconvenient. Devices such as smartphones can be hacked and all the coins in them can be stolen.
if someone can get your cell phone (which most carry around anyways so its not like its a special device), then these same pickpockets can get your leather wallet containing your bank notes, credit cards and driving licence.. hmmm now what can i do by replicating your driving licence or using your details on a website to empty your debit card,.... hmmm
now for a pickpocketer to get your bitcoins they would also need to be a hacker and get into your phones pin number and your wallets password...
now which is more risky bank notes and debit cards..... or bitcoin
July 30, 2014, 05:34:45 AM
I really doubt whether I'll pay for my groceries with BTC, even if the shops accept it. Carrying BTCs around is quite risky, as well as inconvenient. Devices such as smartphones can be hacked and all the coins in them can be stolen.
July 30, 2014, 05:28:09 AM
I just use which one is cheaper
BTC / USD is fine for me
BTC / USD is fine for me
July 30, 2014, 05:10:02 AM
Money's value does not come from transaction, this is a typical statement from today's banking system since their money worth nothing. But bitcoin worth already something when it is created (R&D on chips and electricity), so it does not require to be transacted to keep its value
You never use pension fund/government bond to purchase groceries, but they still holds their value, as long as you can liquidate them at any time
You never use pension fund/government bond to purchase groceries, but they still holds their value, as long as you can liquidate them at any time
July 30, 2014, 02:13:55 AM
Really depend on price.
If price is lower in bitcoin, then I will pay using btc. If not, then cash.
If price is lower in bitcoin, then I will pay using btc. If not, then cash.
I appreciate where you are coming from....
How much of a discount over Cash/CC would you need for you to use bitcoin?
July 30, 2014, 02:11:42 AM
no i would not since i never was meant to use btc for this purpose.. but... if i had millions and i wanted to send them across the world and have it be final within a few hours i would be happy to do so. ohh yea and the fee would be negligible :-)
July 30, 2014, 02:06:15 AM
Really depend on price.
If price is lower in bitcoin, then I will pay using btc. If not, then cash.
If price is lower in bitcoin, then I will pay using btc. If not, then cash.
July 30, 2014, 02:02:21 AM
Cool discussion, OP!
I'm the co-founder of LivePura. I started it for a few reasons:
1). Bitcoin as a currency has been challenged specifically because you could not eat with it. I wanted to change that.
2). BTC is my primary source of income and I didn't want to have to exchange it for fiat. And I know there are others like me...
I have that same value perception of spending Bitcoin, but there are a whole lot of people that bought or mined Bitcoin when it was worth $50 or less. I have now purchased a number of items using Bitcoin and I just like the way the transaction feels. For me, it's fun to support businesses that support Bitcoin.
And the sci-fi guy within me just thinks "The Spice must flow...." I'm unsure if crypto can become legitimate currency if everyone just holds it and I want that more than anything. I say '"Crypto" because I'm unsure if Bitcoin will ever be a day-to-day currency - but I hope some Crypto will be! Just my thoughts - but I have full understanding of those that just want to hold.
If you'd like to look into our website...
http://www.livepura.com/index.php?main_page=page&id=26
Save 5% With this coupon code: 646bd7546c
Many Thanks!
JDS1000
I'm the co-founder of LivePura. I started it for a few reasons:
1). Bitcoin as a currency has been challenged specifically because you could not eat with it. I wanted to change that.
2). BTC is my primary source of income and I didn't want to have to exchange it for fiat. And I know there are others like me...
I have that same value perception of spending Bitcoin, but there are a whole lot of people that bought or mined Bitcoin when it was worth $50 or less. I have now purchased a number of items using Bitcoin and I just like the way the transaction feels. For me, it's fun to support businesses that support Bitcoin.
And the sci-fi guy within me just thinks "The Spice must flow...." I'm unsure if crypto can become legitimate currency if everyone just holds it and I want that more than anything. I say '"Crypto" because I'm unsure if Bitcoin will ever be a day-to-day currency - but I hope some Crypto will be! Just my thoughts - but I have full understanding of those that just want to hold.
If you'd like to look into our website...
http://www.livepura.com/index.php?main_page=page&id=26
Save 5% With this coupon code: 646bd7546c
Many Thanks!
JDS1000
July 29, 2014, 11:40:22 PM
I would never buy groceries with BTC, although I could see it happen.
I'd pay hard cold cash only.
I'd pay hard cold cash only.
July 29, 2014, 10:47:14 PM
cash and cc are already easy to pay for everyday stuff. How could btc improve this ? Not to mention the scalability problem, merchant adoption is not the real utility of BTC. We are just riding on merchant adoption to get bitcoin to mainstream.
Although if you are low in cash, and hoard a lot of BTC, you probably won't mind spending some dust on food and drink right ?
And a good amount of BTC will spill out of hands of hoarders every time the price is on rally, roger ver, eric voorhee will buy private islands, limos and lambos, because we are not getting younger no matter how much rich we are.
Although if you are low in cash, and hoard a lot of BTC, you probably won't mind spending some dust on food and drink right ?
And a good amount of BTC will spill out of hands of hoarders every time the price is on rally, roger ver, eric voorhee will buy private islands, limos and lambos, because we are not getting younger no matter how much rich we are.
July 29, 2014, 10:28:33 PM
If I have nothing else to spend, I'm going to spend Bitcoin. If I have something else to spend.... why hasn't it been converted to Bitcoin already?
I salute.
July 29, 2014, 09:41:30 PM
Buy?
I just steal groceries. Most grocery stores have very poor security. Just shove them apples in your pockets.
I just steal groceries. Most grocery stores have very poor security. Just shove them apples in your pockets.
July 29, 2014, 08:17:59 PM
If people are thinking this way today, when 25 BTC is being introduced into the total coin supply every 10 minutes, I wonder how people are going to think about actually using their BTC to buy things when the supply stops increasing in 2140 (or even before then, once successive block reward halvings have made the amount of newly generated coins negligible). 
I know one person here uses his BTC to buy things and then immediately replaces his spent BTC with newly bought coins so that his total BTC balance remains constant. This could be an option, as you would be using your BTC and helping the BTC economy while also keeping your investment intact at the same time. I would think that fees might make this not worthwhile for some people, however. I buy the majority of my BTC from LocalBitcoins, so this strategy would be infeasible for someone like me.
I know one person here uses his BTC to buy things and then immediately replaces his spent BTC with newly bought coins so that his total BTC balance remains constant. This could be an option, as you would be using your BTC and helping the BTC economy while also keeping your investment intact at the same time. I would think that fees might make this not worthwhile for some people, however. I buy the majority of my BTC from LocalBitcoins, so this strategy would be infeasible for someone like me.
July 29, 2014, 07:47:40 PM
I do spend my coin but I am wiser about spending then with fiat. I guess in the back of my mind I and always thinking the coin could go up and then I have overpaid for this item. For example I would rather spend $5 paypal on fiverr then to send them my bitcoin. I know that fiat will never double so it is a safe way to pay. There is a chance that bitcoin could rise and tomorrow I could have overpaid. I guess you could argue tomorrow bitcoin could be worth nothing and I got a great deal. I'm just optimistic i guess 
OMG thats exactly what I do! I think of bitcoin as worth 1000$ all the time, because I just know in my gut that it will hit that price again, and I refrain from buying things because it is worth only 60% than it usually is worth. I'd way rather spend my fiat than bitcoin today, because I know that it can't double tomorrow, whereas bitcoin has a chance. 
July 29, 2014, 07:46:01 PM
I do spend my coin but I am wiser about spending then with fiat. I guess in the back of my mind I and always thinking the coin could go up and then I have overpaid for this item. For example I would rather spend $5 paypal on fiverr then to send them my bitcoin. I know that fiat will never double so it is a safe way to pay. There is a chance that bitcoin could rise and tomorrow I could have overpaid. I guess you could argue tomorrow bitcoin could be worth nothing and I got a great deal. I'm just optimistic i guess
July 29, 2014, 07:45:30 PM
you could always divide your stash into a long term holding stash and a short term spending stash.
whatever purchasing power you would use to buy products for the short term using fiat currency you could just buy with bitcoin instead.
What I used to do (while mining was profitable) is put half into my cold storage, and half into my hot wallet where I could buy stuff. Cold storage is still not used, and I will never use it (I want to hold onto it until bitcoin reaches a massive price, then I will sell). whatever purchasing power you would use to buy products for the short term using fiat currency you could just buy with bitcoin instead.
July 29, 2014, 07:43:15 PM
Guaranteed by who?
Nobody hence the "if". The OP claim was based around the idea that BTC will increase in value and hence nobody will spend it which is still a flawed assumption.
DeathAndTaxes...understand your position (and very much respect your perspective btw, have learned much from your past posts), held by many staunch Bitcoin advocates...now can you provide some hard evidence please to help everyone understand how and why this is the case? OP has several links, data, articles and other evidence that seem to suggest that people are currently hoarding BTC. Is there a resource of some kind that can fulfill the request I made to SgtSpike below...
Agreed assuming appreciation...and if Bitcoin depreciates short term (relative to fiat)? To be clear--I'm not saying people won't spend an appreciating currency...I'm saying that the evidence is suggesting that they're not spending an appreciating currency. If you haven't already, take a moment to read this article linked in OP: Bitcoin's Failed Coup of Wall Street
Not taking any hard stance here btw. The point is to spark discussion from experts and everyday users alike to address a very real concern held and raised by many. We can all agree that it's a new world order...Bitcoin is unlike anything anyone has ever seen, so perspective is important. I'd like to see evidence, hard evidence suggesting that people are not hoarding their BTC. SHOW ME, don't tell me that it's a fallacy that people won't spend an appreciating currency...numbers, charts, graphs, maths, trends, facts. Need more than Bitcoin bias...of which I already have plenty myself. I'd love nothing more...
Not taking any hard stance here btw. The point is to spark discussion from experts and everyday users alike to address a very real concern held and raised by many. We can all agree that it's a new world order...Bitcoin is unlike anything anyone has ever seen, so perspective is important. I'd like to see evidence, hard evidence suggesting that people are not hoarding their BTC. SHOW ME, don't tell me that it's a fallacy that people won't spend an appreciating currency...numbers, charts, graphs, maths, trends, facts. Need more than Bitcoin bias...of which I already have plenty myself. I'd love nothing more...
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