Topic: Should we all buy a Bitcoin Pizza? (Read 465 times)

Since Bitcoin was categorized as an asset some people will focus on making a profit through it but using it as the payment method is not a habit of wasting on something because if Bitcoin is not used as a payment method then it failed to achieve the concept and believe of Satoshi.

I wouldn't mind spending my Bitcoin on a couple of my needs if i do get the chance (and i mean 'where) to do so, it is really difficult to do that where i come from, you could of course pay for some goods and services over the internet (online), but a real life payment in a shop/store is difficult to do at the moment. Generally, doing so would depend a whole lot on where the user resides, and how popular shops that accept Bitcoin are in that area.

Of course more Bitcoin users would want to hodl and speculate with their coins in many years to come, but it is of course great to likewise use Bitcoin as a currency when you do have the chance to do so, not that it matters too much how one uses it, cause anyway actually helps with mainstream adoption; whether it is buying to hold or buying to spend, the thing remains that Bitcoin is being bought (meaning there is constant demand).

The owner of the pizza shop is John Schnatter as the owner of Papa John Pizza. He accepted bitcoin payments which of course at that time bitcoin was still not valuable, maybe Papa John Pizza saw good potential in bitcoin and they accepted it. 10,000 Bitcoin will certainly make the owner papa john pizza very rich if you sell it at this time.
From the history of these transactions, of course, we can learn about how to take advantage of existing opportunities, to believe in something that has not yet become anything. Nothing is too late, even today's investment can still be done, it's just a matter of how we set the targets to be achieved and do good management.

If there are stores accepting BTC nearby why not spend.

The old folks who traded their BTC at early phase of BTC, didn't become very rich like the Gemini twins because they spend it. Today we refer to them as Bitcoin OG, a discussion on youtube was saying they didn't become rich because during that time like 2013, they were already happy just having a Toyota car. Or thought BTC will pass and die.

Back in the days, I'm spending BTC in casino 0.05 BTC in one dice roll. Today with same value in USD I'm betting 0.00005 BTC. That's a big difference, satoshis are getting very expensive, save more of it.

Well the point of me is, to convert money to Bitcoin and then spend it at a shop that accepts bitcoins. I don't say you should spend bitcoins that you want to keep, I say you should spend money that you spend anyways not in fiat but in crypto to support the adoption.

I don't think the Lazlo is a good example for us to stop with HODL and purchase something for ourselves. Paying Pizzas with 10,000 BTC is so sad if you look at the current price. If he had bought a car something nice that he still has today it wouldn't be so painful. The problem for me to use bitcoins or other crypto coins to buy food or drinks is that you consume it one time and it's gone. There is no happiness you can get out of it long time. I agree with you that we should be using bitcoins also for purchases because otherwise sellers will stop accepting them if nobody is using it. For me I would be using bitcoins only for larger purchases, for example my last bicycle I bought with profits from bitcoins. So every time I ride the bike in the city I remember why I got into bitcoins and there are real life things you can buy it. I am also thinking about buying a new PC when the GPU will be affordable again, for such a purchase I might also use bitcoins again. As long as it is something that will be around for years and is a good reminder to take some profits from time to time.

I  am thinking of the owner of the bitcoin shop who received those 10000 bitcoin, where he might be now and he might be here on forum itself reading and smiling for those 10000 bitcoins.

It is insane if it's done today knowing the value of btc now is completely different from its value that time. In 2010 internet is already a thing and there are now even internet in the phone but bitcoin that time isn't that known and many people are afraid of using it or accepting it as a payment method for buying and selling but still that guy, lazlo have the courage to do it and also props to the person or the store that sells their pizza in exchange for bitcoins.

Laslo's last active date was on 2017 based on his profile here > https://bitcointalksearch.org/user/laszlo-143 but you can still scan his entire post history and see if you can find interesting posts. I am not sure if he will come back here but it's sad that many bitcoin legends are leaving and not returning anymore in bitcointalk.

Well, I do use Bitcoin to buy stuff sometimes. My latest purchase was iirc my NordVPN subscription? I try to use it for the first time on merchants that I see that accept them, but it is rather rare. Sadly most of them are online payments, I don't think I've come across a merchant store that accepts Bitcoin or any other currency so far in my place (I rarely go outside, so that might be influenced by it). I'd be down to get pizzas with my Bitcoin though, I love pizzas. They wouldn't hurt my wallet that much I suppose.

Lazlo has lost millions with the purchase of those two pizzas, but he gained legendary status in the Bitcoin community.....and that cannot be bought with money. He is leaving a lasting legacy of being the first person in history ..to pay for physical goods with bitcoins.

A lot of people back then did not believe that people would pay with their bitcoins for goods and services ...and he paved the way for Bitcoin to be used as a currency. 

Will I buy a Pizza with my bitcoins? Yes, because I believe in a 20/80 split .....20% spending bitcoins / 80% hording bitcoins. 

               I have used bitcoin dozens of times to pay for lots of things both online and offline(with people I know) either for services or for food specially way back 2016-2017. Right now I still do but not as much as before. Do I regret it? A bit, yes. But not to the point the I would really wish I didn't do it. The same could be said for the guy that has bought pizza using his bitcoin. At that time, it was very cheap and it was a fair deal. Anyone would've done the same thing as well had they gotten the chance to do so. Even donators in this forum never thought that bitcoin would go up so high and donated just for the sake of helping since back then it seemed like loose change. While most may think spending bitcoin back then instead or hoarding it was a waste, I think it was not since it helped circulate bitcoin while at the same time, take care of their personal needs, wants or problems by using it back then.

Earlier I invested into cryptocurrency mining hardware. By the time I got introduced to a computer hardware shop owner who doesn't have much information about cryptocurrencies and the mining. He got into the selling of mining hardwares. Eventually I wanted to buy some and approached him. He wasn't ready to accept bitcoin, so I cashed out and settled him. After six months he had his own mining rig running. By that time he started to accept bitcoin as payment. So, it all needs time and so I'm waiting for the right time to spend directly on my need.

I used btc to make payment if the  seller accept btc as payment,  the reason why many people don't purchase things with bitcoin  can because many bitcoin is not legalised in some countries.  Bitcoin serves for many purposes which can be used to make payment, some people may decide to make it for only for investment by hodling it for a longtime.  The major challenge why people find it difficult to spend bitcoin for payment bitcoin not accepted as currency in most countries.

Not 10 but 10k bitcoins for two pizzas which is one of the biggest deal in bitcoin history.We also have bitcoin pizza day celebration on that day where bitcoiners enjoy having pizza or something like that to mark this transaction.You see he has said in some interviews also that he don't regret it and is fine with it even those 10k worth millions today.

Yes that’s completely insane.
And for this incident only many Bitcoin lovers have high respect for Lazlo.
I guess Lazlo was very much interested into technologies, for which he used to get enough knowledge on Bitcoins at an earlier stage.
In 2010 many places doesn’t have a proper internet connection, and that time using Bitcoin and that too puchase Pizza by trading it needs to have a great mind sense.
Nevertheless many people still complaining that what if he saved those, now he would have become billionaire.
But due to his this trading action, we must all agree that Bitcoins value have risen and we have come here so far.
Really waiting for Lazlo to come back to the forum and share his experience in the earlier days of the Bitcoins.

Simply because there aren't offers. Everyone needs to buy goods each new day, but if the most cost-benefical offers can't be paid with bitcoins, bitcoin is never going to be used in daily life as currency. When looking which product to buy I go for the best promotion and discount for the respective item I'm looking for. Therefore, I'm not going to pay, let's say, extra 20% or 30% just to use my satoshis for the purchase.

Merchants accepting bitcoin as payment need to become more competitive compared to the big companies of the market, that is all.

If only there is a local store, coffee shop, shopping center, or whatever business establishment that accepts Bitcoin, I would be very happy to spend some Sats in support of their business initiative and in the name of Bitcoin adoption. But there’s none in the locality that I encountered so far. I have only seen businesses with names using Bitcoin or crypto. There’s actually a Bitcoin convenience store and a bike shop called Cryptobikes that I passed by. It’s sad that I haven’t had the opportunity to actually inquire if they accept Bitcoin.

But I have been spending Bitcoin online to pay bills and buy prepaid load. I’ve also had transactions with friends using Bitcoin.

Yep, it wasnt intended for money or profit making but rather on that "financial freedom" thing but it cant really be avoided
that people would be minding on how to make money thats why people wont really be tending to make use nor waste it on something
but instead they do save it out because it does have potential in upcoming future although its not assured but chances
is high.

There's nothing bad about being after making a profit, no one like making a loss but people needs to understand that Bitcoin was not created by Satoshi just to be only an asset.
According to what I read, it was created to make people "financial freedom" and we google that "it means having the financial cushion (savings, investments, and cash) to afford a certain lifestyle"
Automatically Bitcoin should be used as savings, investments, and cash.

Why you did that is because may be your country accept's bitcoin for transaction or payment of bills to certain situations. There is countries that don't want to hear the name bitcoin before any other thing. And i noticed that those countries that is in bitcoin challenge that even they can not buy bitcoins with their bank app and with money in their bank account is really in hell. If i have the opportunity to buying what i need with bitcoin, i will not hesitate to buy my needs with bitcoin

I've already done it multiple times though there is a twist into it.
I'm not using Bitcoin directly as the payment but I'm converting it into our currency and that is what I'm using to buy things. Been doing this for 4 years already and I've been holding Bitcoin also .

Not many people aren't accepting it right now because of its price movement. Business owners are creating their own business to make profit. Maybe for some, they see that they might lose money if they will accept crypto as another mode of payment. As for me, I would like to try to use my Bitcoins to buy something in a store but unfortunately I don't know some stores that are accepting crypto as a payment.

I don't mind spending Bitcoin for payments, but so far, it hasn't been going well for me because the places where I shop just don't accept Bitcoin, and I'm not going to buy something I don't need or go somewhere far just to pay with BTC. I would pay for pizza with BTC, as long as the fees are alright (less than $2, let's say), and the price is reasonable and similar to what I'd pay in fiat. So far, I didn't get a chance to do that. But I did recently make a purchase with Bitcoin, sort of. I got myself a hoodie, and it was that thing when you get something and pay a donation to a charity, so I asked if it would be okay to donate in Bitcoin, and I did.

My perspective is a lot of us using fiat will forever be chasing the better life, due to rising costs, and inflation. Basically, by using fiat you're accepting you'll forever be in the rat race, up until you retire, and what you've worked your entire life for, is worth jack all in retirement due to the inflation.

Bitcoin, gives you the opportunity that I believe other investments don't, mainly because I actually believe in the fundamentals. For example, the freedom, not relying on a third party, and the fact that you can't just keep pumping Bitcoin into circulation, means it should actually counter inflation. So, obviously we're all in it for profit, but it doesn't mean when it comes to using it, I'll be converting to fiat, I'll be using it to better my life.

Payment directly? no? I have to used a 3rd party to process my payment and I have been doing it for the last 5 years, paying my bills with bitcoin.

So I'm not getting qualms in using it to P2P if there is chance to let say not just Pizza but anything that I need to buy online, simply as that.

I use my Bitcoin pay my bills and mobile load since there is an online bitcoin wallet app in my country allow me to use Bitcoin for it while giving me some premium discount when I use directly a cryptocurrency as payment so I literally spending my Bitcoin regularly to pay my regular bills. I convert part of my work salary into Bitcoin monthly then use it that way. I think that's my Bitcoin Pizza counterpart.

In my opinion, there are two main reasons why the average owner of Bitcoin does not decide to use it as a currency. The first is that most Bitcoin investors are only interested in profit, for them Bitcoin is the same as investing in gold or stocks. Another reason is that most people think that the fees for sending BTC are too expensive since crypto exchanges charge them very expensive fees, which they think are blockchain fees.

In addition, even sending from a non-custodial wallet can be problematic if we do not understand the importance of input/outputs, transaction size, and mempool status at the time we want to make a transaction. In other words, don't be surprised that there are no more physical places where you can spend your BTC, because it's a complicated way of paying for most people.

I pay regularly with BTC, it's mostly online because I don't have too many choices in that regard - but also because I don't want to attract extra attention.

I think you're reading too much into the situation. Those that have the opportunity to spend Bitcoin in a physical shop, probably would. However, unless you live in a major city, those opportunities are far, and wide in between. Besides, we don't need to be spending them offline to reach a new all time high. We've got where we are because of how Bitcoin is designed. Bitcoin is being spent, you only need to look at a Blockchain explorer to figure that out, but a lot of people are now using Bitcoin as a reserve currency, which to be honest I don't see the problem.

The main benefits of Bitcoin to me are; decentralised, freedom to be your own bank i.e cut out the middlemen, and a finite limit which actually means Bitcoin is deflationary in the long term. That's the real reasons, not because I can or can't spend it offline. Offline transactions come with more adoption, we aren't quite there yet.

Yeah, he's just thinking of profit and not using its beauty. I do agree that we should also use it as a payment system because that is the beauty of it now. It is just an investment, but as you can see, most of the people now talking about bitcoin are about gaining profit from their investment. They are looking at bitcoin as a business that could gain them some money, which is true, but its beauty is not appreciated because we are always talking about money.

The new spot ETFs will bring a lot more money into Bitcoin.

Also, having now 2 countries (El Salvador and Central African Republic) and listed companies like MicroStrategy buying Bitcoin continuously also helps.

To me all this reactions that proofed my point are a little bit sad. In 2012 and 2013 we had a Cafe in my hometown where you could pay with bitcoin. I used to spent there like 1 BTC a mont for coffee and food, which of course is ridiculous. But in the end i would have spend that money anyways and I would just buy the Bitcoin specifically to spent them later there. So there was actually no drawdown to me, since otherwise I would have spent the same amount in fiat. The only difference was that I actually supported bitcoin adoption and many people became interested because of the Bitcoin Sign or even seeing me while paying. But somehow it seems like those times are over, and also I think this is why maybe there will not be some new ATH for some time. Because for that there need to be new people into crypto and they will not come in a market situation like this. But they would maybe come to be able to pay for their coffee..

It is very difficult to see someone who desperately make payment with bitcoin this days. I have seen that statement of some one bought bitcoin with pizza countless times. But i never witness someone that buy bitcoins with anything. Those days when this things happened bitcoin was not regarded as much people can see and know, and that buying of pizza with bitcoin is another name that makes bitcoin to be more popular by using it for exchange of valuable food. So with that people pick interest with bitcoin. Now bitcoin price going down someone can anything with 1btc to bring the name up, because so many people has portfolio of bitcoin

One of the things i do target on is on which i do accumulate as much as i could and wont tend be using it for some purpose on buying something even though there are merchants around me which i could simply make use

of my crypto to purchase something but i do still remain on doing it with fiat which i do believe that most people are really having the same behavior since we know the potential profitability that it could give out

thats why instead on spending it on casual ways then it would be more sensible if you do save it up and make out profits in the future even though its not an assured thing but at least we do have that kind
of point of view.

I'll be honest, I tend to hoard my Bitcoin as a reserve currency, tucking it away with hopefully the prospect of it beating the inflation that's imposed on fiat currencies, and then using it for big purchases, and just let fiat get me by for daily life. However, if I saw more physical shops accepting it, I think the inner nerd in me would be itching to just purchase random stuff, that I definitely don't need just because I don't see that over here. I've actually yet to see a shop that accepted Bitcoin, maybe because I'm not in the capital or any cities, and don't tend to go to them often either, but still haven't seen one, at least that I recall.

In your opinion, those that use Bitcoin every day as payment are not practicing the good behavior of enthusiasts? I think you're more concerned about profit or the market bullish trend than the beauty of the technology. Besides, if no one uses Bitcoin for payment how would it be considered an innovative payment system and how would business owners know if the best mean of payment for border to border transactions?

Everything we enjoy today, there are people that paid the sacrifice for it. I can say that Lazlo is one of those people that followed strictly what Satoshi wrote in the whitepaper. Bitcoin was created as a currency but it has metamorphosised to investment asset.
Again, the price of btc then was extremely low, no hope for wide adoption. If Lazlo had the idea what Bitcoin could become today, he wouldn't have spent that much for pizza.
So, it could be said that bitcoin hodlers learnt some lessons from Lazlo historical transaction.

Are you not familiar with this famous bitcoin transaction story?
Was it a mistake?
Princess, Lazlo bought the pizza for 10,000 bitcoins and not 10 bitcoins.

Lazlo didn't pay for his pizzas IRL

The best place for Bitcoin purchases in the Netherlands is Arnhem: about a hundred shops accept it, some of them take Lightning too.

Well call me what you want but I am the type of guy that wants to use Bitcoin for their daily needs, I believe there would not be an adoption if we don’t believe in the practicality of Bitcoin, yes we have the right to hold our Bitcoin or Any other Crypto-Currency for as long as possible, but Crypto-Currency would be even bigger if we can earn in Crypto, use crypto, share crypto and so much more.

Lazlo is a bitcoin hall of famer in my book, we look back now and say what was he thinking? 10k Bitcoins for a pizzza I believe what he did was/is very significant in the history of bitcoin. He’s a true bitcoin lover, he used his bitcoin as a currency to buy an everyday commodity even at the early stages of bitcoin when a lot of people didn’t know what exactly bitcoin would turn out to be. Today, every one seems to hodl

I have never done a real life payment.  Mostly because 1) I don't have a mobile wallet with Bitcoin in it & 2) nobody actually accepts Bitcoin in real life that I've seen.

I have attempted to do a real life payment.  I once was in Vegas and tried to go to a bar that advertised they accept Bitcoin to get a beer and a burger.  However, their payment system was apparently "down" (funny) so they weren't accepting Bitcoin at the time.  I've also tried to get a pizza from a Bitcoin pizza place, but ironically they did not accept Bitcoin for payment.  There have been a few other times I tried to use Bitcoin for real life payments, but they never worked out.  My real life Bitcoin interactions have thus been limited to me giving Bitcoin to friends or the one time an undercover cop tried to set me up to sell him Bitcoin for a cocaine purchase, which I wisely told him to go fuck himself.

In short, magic internet money makes really shitty IRL money.

BTC is deflationary by design. Lots of people (like myself!) don't want to spend BTC for everyday purchases, as the value tends to go up over time. I would argue that this is an advantage of BTC. Lots of unhealthy consumer activity is driven by the fact that fiat savings lose value to inflation over time -- that is, it makes more sense to spend your money on goods you don't necessarily need than it does to save USD and watch it fall in value. I like the idea of BTC being "digital gold".

Miner fees also come into play. For small transactions (say, a few bucks for a cup of coffee), the miner fees cost more than the item itself.

But have you every done a payment IRL?

I use Bitcoin to pay wherever it's possible. Especially online, IRL isn't possible very often.

In 2010 forum user lazlo payed 10.000 BTC to buy Pizza for him and his family, this would later become famous under the name of "Bitcoin Pizza Day". As the days is now approaching again I was thinking about how bitcoin and especially the community has evolved since then. In my opinion there is an incredible amount of smart people that hold coins and try to make the bitcoin ecosystem better and better. Those users many times strongly believe that bitcoin is better than fiat money, but not so many of them actually use Bitcoin in everyday payments. It is even a good behavior under bitcoin enthusiasts, to hold Bitcoins and never spend them. Most of that users would not pay a pizza with bitcoins but instead pay it with fiat to not stop to HODL. In my opinion they want to show with that, that they believe in the future of Bitcoin but actually it stops it from being more widely adopted and just shows that it can actually not replace fiat.
So maybe everyone should once in a while stop HODL for a bit and buy something in a store or online with Bitcoin, so it is used for what it was originally designed for. In my opinion we would never celebrate a "Bitcoin Pizza Day", without users like lazlo that spend coins on real goods even if the amounts might look stupid from todays perspective. What do you think, why is there not more use of crypto in everyday scenarios?