U dey use Bitcoin dey purchase or just investment sake - page 2.

CryptoHeadlineNews

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Quote from: Bright0515 on October 25, 2024, 04:54:44 PM

How u dey take use ur Bitcoin, I mean why that Bitcoin still dey with you just hold am because u wan save am or u dey still use am buy things.
Many people just dey keep Bitcoin for the sake of say the Bitcoin profit dey rise everyday and them wan keep as investment.
But e go still good for all these business merchants to dey use am do purchase too, sha especially these business merchants wey dey deal with import and export of goods.
E for good make them dey use Bitcoin dey make their purchase abi how una see am.

If the merchant you want to buy goods from dey use Bitcoin, then I see absolutely nothing wrong with paying with Bitcoin which is fast and reliable. But just that some people do have a business money which is totally separate from an investment money, it is only on such scenario that you don't want to touch your Bitcoin that you can possibly use fiat to execute that transaction.
Because just like me, I have funds which I use for daily transactions and for my business, whereas the rest are store in Bitcoin, where it has the potential to skyrocket when the market is favourable (i.e Bullish).

Mate2237

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Op you and me know say in dis country we no dey use bitcoin dey buy things so why do question on that? And everyone here na to hold keep till the ATH den sell make profit and that one nai be di reason for the investment sef and you know like dat. Making bitcoin to buy something is not a big deal. And I have seen some stores accepting bitcoin in my regions last year and early this year but now they are not accepting because of the government policies on bitcoin. The main reason of creating bitcoin was to use it as p2p which to buy goods and services online but that has been sidelined to investment.

And now everyone is on the side of investment. Now if bitcoin is use to purchase things and pay services, many can't pay the transaction fee when it rise up very high.

Moreno233

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Using Bitcoin to pay for goods and services was rising rapidly during the government of Goodluck Jonathan when we were still practicing democracy. Then it was easy and very exciting to using Bitcoin to pay for things that fiat were used. But when Buhari won and started his crackdown on cryptocurrency, things started changing and people became afraid to use Bitcoin because they were freezing the accounts of people suspected to be dealing on Bitcoin. Since then it became highly dangerous to openly use Bitcoin. Tinubu continued in that same direction and that made it worse. Therefore people, including myself are simply holding Bitcoin and not using it to pay for goods and services,

Asiska02

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Quote from: Bright0515 on October 25, 2024, 04:54:44 PM

How u dey take use ur Bitcoin, I mean why that Bitcoin still dey with you just hold am because u wan save am or u dey still use am buy things.
Many people just dey keep Bitcoin for the sake of say the Bitcoin profit dey rise everyday and them wan keep as investment.
But e go still good for all these business merchants to dey use am do purchase too, sha especially these business merchants wey dey deal with import and export of goods.
E for good make them dey use Bitcoin dey make their purchase abi how una see am.

Wetin you talk really make sense but the way bitcoin take they volatile, e fit make them no embrace am totally as a means to oh for services. They fit adopt this method better only if them wan dey use am dey buy and sell and then them convert am to stable coin because if not, if e drop, e go really affect them a lot.

Me I dey use bitcoin as investment but also I no dey fail to use am as currency when the opportunity warrants me to use am for that. Many people been join bitcoin to use the thing as currency in the early stage but as time goes, people come sabi say them fit use am as investable asset, them just begin dey use am more for that purpose and all na still good one as e go help for the widely use of it and adoption more.

rachael9385

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Quote from: Bright0515 on October 25, 2024, 04:54:44 PM

How u dey take use ur Bitcoin, I mean why that Bitcoin still dey with you just hold am because u wan save am or u dey still use am buy things.
Many people just dey keep Bitcoin for the sake of say the Bitcoin profit dey rise everyday and them wan keep as investment.
But e go still good for all these business merchants to dey use am do purchase too, sha especially these business merchants wey dey deal with import and export of goods.
E for good make them dey use Bitcoin dey make their purchase abi how una see am.

Normally we know say for this we country, the places way them dey use Bitcoin they purchase things they rare and nah mostly for online shops nai you go easily see one. But at this point in time, many pipo dey hold on to their Bitcoin because them they expect something huge from am. But as for me, if I get any online shops I go also accept Bitcoin payment from any of my clients because that nah one of the fastest and easiest way.

Cryptomultiplier

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Quote from: Bright0515 on October 25, 2024, 04:54:44 PM

How u dey take use ur Bitcoin, I mean why that Bitcoin still dey with you just hold am because u wan save am or u dey still use am buy things.
Many people just dey keep Bitcoin for the sake of say the Bitcoin profit dey rise everyday and them wan keep as investment.
But e go still good for all these business merchants to dey use am do purchase too, sha especially these business merchants wey dey deal with import and export of goods.
E for good make them dey use Bitcoin dey make their purchase abi how una see am.

E make sense to dey use BTC as currency for purchase of goods or for payment of service within or outside he country, but na because of the kind wuru wuru wey government dey do and they say efcc dey clamp down on many by holders, make many to either convert to Naira or USDT before them use their BTC.
To hold BTC currently mostly for this our region, dey very necessary and every man wey get BTC must ensure say em make profit from holding am or from trading am, before them go consider the loss wey dey come with using am or loss wey dey occur during trading.

Spaceman1000$

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Quote from: Bright0515 on October 25, 2024, 04:54:44 PM

How u dey take use ur Bitcoin, I mean why that Bitcoin still dey with you just hold am because u wan save am or u dey still use am buy things.
Many people just dey keep Bitcoin for the sake of say the Bitcoin profit dey rise everyday and them wan keep as investment.
But e go still good for all these business merchants to dey use am do purchase too, sha especially these business merchants wey dey deal with import and export of goods.
E for good make them dey use Bitcoin dey make their purchase abi how una see am.

People way dey do those import and export get a channel way them dey use transact, some dey usually buy goods for china and other parts of the world, majority of them dey transact with cash, and no be everybody get this bitcoin knowledge and how to apply am, if not bitcoin na very good method for international market, although e for sweet mean make business men for Nigeria develop their knowledge on cryptocurrency, at least na them get the huge money to invest and get back huge interest.

People way dey keep their bitcoin, na to save am make e grow na, them dey call am investment, when you invest, you try wait make your investment get profit before you think of withdrawing it, so na why people dey hold their coin for a longer time.

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Quote from: Bright0515 on October 25, 2024, 04:54:44 PM

How u dey take use ur Bitcoin, I mean why that Bitcoin still dey with you just hold am because u wan save am or u dey still use am buy things.
Many people just dey keep Bitcoin for the sake of say the Bitcoin profit dey rise everyday and them wan keep as investment.
But e go still good for all these business merchants to dey use am do purchase too, sha especially these business merchants wey dey deal with import and export of goods.
E for good make them dey use Bitcoin dey make their purchase abi how una see am.

But you know say for our country Bitcoin never dey legal, infact sef anything crypto never dey legal so if you dey wan reason say you wan dey spend Bitcoin now, you fit no dey see who go accept am but I know say some pipo dey accept am Sha but na on low key because if government hear am, dem don enter gbese.

The main thing wey plenty pipo dey use am do now na d investment Waka because dem no get the freedom to dey spend am as a we dey spend money for now until government reason say make we dey run am like dat so mostly na the investment side dey work for plenty pipo pass. Me I dey do am baes on investment and if I see person wey need am I dey sell to am, na form dia I dey use make my money wel well.

Jegileman

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Quote from: Bright0515 on October 25, 2024, 04:54:44 PM

How u dey take use ur Bitcoin, I mean why that Bitcoin still dey with you just hold am because u wan save am or u dey still use am buy things.
Many people just dey keep Bitcoin for the sake of say the Bitcoin profit dey rise everyday and them wan keep as investment.
But e go still good for all these business merchants to dey use am do purchase too, sha especially these business merchants wey dey deal with import and export of goods.
E for good make them dey use Bitcoin dey make their purchase abi how una see am.

Wetin you talk na true sha but I no think say plenty people dey really keep their bitcoin again o. Many of the people no fit dey keep bitcoin because of the economy. As you wan save money for bitcoin, na so you go wan chop am again because you go need survive for this kind hard economy wey we dey now. Na few people still dey save bitcoin and na wetin the reality of the matter be be that. You no fit dey save bitcoin when your personal expenses never guide yet, because you go still chop am when you need the money. E good to save bitcoin but e no dey compulsory and when you get the chance to you can do it.

promise444c5

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Quote from: Bright0515 on October 25, 2024, 04:54:44 PM

~

It depends on what and where you are buying from, paying with btc can promote adoption if available or specified as options of payment from the seller but as of recent, the investment aspect is quite more as holders continue to suck up every last of BTC day by day though we still have some online marketplace where you can trade your BTC for goods but you need to be careful at the same time to make sure they are trusted before doing any trade if you are willing to

[a little bit off topic]
If you are maybe considering of accepting btc in exchange for your goods or you planning to maybe future... you might want to read about double spending, it really important to wait for atleast 1 confirmation on before releasing.. you don't want to do the release without a single confirmation

(you can't invalidate single confirmation but it practicable to wait at least 2-3 confirmations if receiving large amount ).

rimoeee

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The use of Bitcoin for purchase is not common in Nigeria because of the government regulations that has been put in place. Apart from the government regulations, most people are also ignorant to the use of Bitcoin, local traders for example will not accept bitcoin as a method of payment. Therefore most people use it for investment and saving purposes instead of using it for daily transactions and business purposes.

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Quote from: Bright0515 on October 25, 2024, 04:54:44 PM

How u dey take use ur Bitcoin, I mean why that Bitcoin still dey with you just hold am because u wan save am or u dey still use am buy things.
Many people just dey keep Bitcoin for the sake of say the Bitcoin profit dey rise everyday and them wan keep as investment.
But e go still good for all these business merchants to dey use am do purchase too, sha especially these business merchants wey dey deal with import and export of goods.
E for good make them dey use Bitcoin dey make their purchase abi how una see am.

Bitcoin currently don't turn to digital currency for different use case, some dey use am for transaction while some dey see am as investment purpose. However, if not for government regulations and restrictions for we country, on a normal business men, market traders and normal individuals for dey very interested to use Bitcoin for transaction of their goods and services but currently the major use case of Bitcoin for the majority wey dey secretly use Bitcoin dye to government regulations na for investment purpose (buying and holding for long-term) another area where I see say people for our country they use Bitcoin na for Cryptocurrency casinos like Stake and the rest of em kinds. If only our government fit pipe low on their restrictions and regulations I believe say the use case of Bitcoin for transaction (buying and selling) for no dey scarce as eh dey currently.

Bright0515

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How u dey take use ur Bitcoin, I mean why that Bitcoin still dey with you just hold am because u wan save am or u dey still use am buy things.
Many people just dey keep Bitcoin for the sake of say the Bitcoin profit dey rise everyday and them wan keep as investment.
But e go still good for all these business merchants to dey use am do purchase too, sha especially these business merchants wey dey deal with import and export of goods.
E for good make them dey use Bitcoin dey make their purchase abi how una see am.

Topic: U dey use Bitcoin dey purchase or just investment sake - page 2. (Read 279 times)