Topic: What do you want to but with BTC? Or for what to accept it as payment? - page 2. (Read 336 times)

I strongly believe that Bitcoin is created for spending and not for hodling. Bitcoin is for transactions and not for safekeeping. It is meant to be spent rather than to be put asleep somewhere hidden.

The Lighting Network development is ongoing and is hopefully getting stronger and more stable every day. So I am hoping it will somehow promote Bitcoin as a daily currency.

These early years of Bitcoin may not be a perfect time for small transactions. The adoption current is simply strong and overwhelming that the supply is becoming very limited compared to the demand. The price is therefore high. People are more attracted to hodl than to spend. This may change in the years when mass adoption has already taken place.

In my opinion, if payments can still be made using fiat money, it is better not to force them to pay with bitcoin. because bitcoin has a very prolonged function, besides that you will have bitcoin for a long time. We can see that recently bitcoin is in great demand, including in online and offline shopping centers. however, considering that bitcoin is getting more expensive and scarce every year, I think it would be good if you stick to bitcoin and make payments with your own alternative fiat money.

The thing about most of these commenters is that they probably aren't even doing either. Just confused people coming into Bitcoin and maybe keeping it at exchanges hoping to sell for a big profit (and to rebuy later).

Those already sold on Bitcoin for whatever purposes it serves for them are happily using it. As you said, there's no debate, and no point to the debate. Mystifies me why people get upset over those who only use it (or not) for X purpose.

Well it's a pretty old discussion really! Bitcoin is meant to be a currency system as per its creator/creatots. However, due to the highly volatile price and great upward momentum, it has become an investment asset to many. While it is not something that we don't expect but its main use is a currency. It is something we can use to transact without the need of an intermediary.

Also, the slower confirmation time and high fees, have made bitcoin less attractive as a currency than an investment. But that's what the market dynamics are. We are happy as long people recognizes bitcoin.

Essentially, both options or "use cases" you have mentioned imply that bitcoin is a means of payment. The difference, however, is in timeframe. What does it mean? The first type of users consists of people who believe that bitcoin will be widely used in everyday transactions once accepted by the vast majority of people all over the world. That is why they mostly don't care of bitcoin value expressed in dollar terms. They are merely waiting for bitcoin to become the currency of the new world. According to this view, it is unquestionable that bitcoin will be the only means of payment in a digital world. They don't spend bitcoin now to ensure they will be less poor in the future. The store of value function of bitcoin is just a transition phase. The second type of people consists of those who are using bitcoin right now. There are many ways you can spend your bitcoin: trading, investing, gambling, shopping, hosting, bills, VPN, lambo, etc. Bitcoin price is more important here because everything on today's market is naturally expressed through dollar terms. According to this view, wide adoption is only possible if everyone keeps spending bitcoin and keeps using it as a currency. The third type is a combination of the previous two, which I personally consider an ideal.

 That is a great website . I had no idea KFC, and Burger King accepted Bit Coin.
Having only sold bitcoin to an exchange ,and received cash ( which took 5 minutes for them to process ) . I am wondering if Those 2 fast food outlets have a faster way of processing BC's . I'm in Canada where the web site says KFC is accepting BC for a limited time . Do you know if a person would phone in the order first ,to allow for processing  The website doesn't say .

Since Uber and many others are delivering food during the Covid scare ,I wonder if they have started accepting BC . They would have lots of time to process the payment .

I sold my BitCoin on the 8th ( I only had a very small amount ) ,but if BC goes a little lower I' plan to buy some back .
BTW I had no idea that a tumble was coming for BC. I sold because I recently discovered the paper wallet ,and thought I'd better sell before it got lost again. I have a Ledger nano S from a few years before ,but it is empty .

No need for further debate, it's both. If the owner of the bitcoin wants to hold it for investment purposes and he sees it as an asset, why stop him doing so? and if someone uses it for transactions like what we usually do, then it has to be done for that purpose.

Like what it's made being as a decentralized cryptocurrency. No one can dictate you which use you want to spend it for. Use it as both if you're completely doing both or just any of those.

Depends on the owner.

It seems to me that in any case you should not forget about the dangers and risks.
Because most people are used to focusing on profit potential and that everything will be fine, completely forgetting that there is always a possibility that something unexpected and complicated will happen. And this is the real truth.
And you have to remember that these kinds of transactions are almost never tracked, and it's hard to keep everything under complete control and act so that you know exactly what's going to happen tomorrow and that everything is going to be completely safe.
My advice would be to check everything with small amounts and analyze each step.
That would be the most favorable and correct decision.

Why not? It has enormous potential for the future and there are already enough quality systems that allow you to exchange and buy with this asset. And it has become a real boon for many people, because such financial transactions are not tracked at all and allow you to act more quickly and efficiently. I think that this is a real step forward, which will allow you to earn enough in a short time and achieve your goals. I think this is just the beginning and something interesting is sure to happen ahead, which will either draw our attention to this directly in the market or take advantage of some new services that will make our lives even more comfortable.

I have a feeling that with the increased interest in bitcoin, everyone seems to have forgotten that there are other assets and they can be used for any financial operations, without any doubts that everything will go smoothly and efficiently. We cannot give up what has given us a normal understanding of the situation for many years. And this is a purely personal choice for everyone. You can always choose something that will give you confidence in tomorrow and show you some kind of more understandable state of affairs. I, on the contrary, probably wouldn't use it precisely because it has no history and it's not yet proven enough for you to say with certainty that it should be used or definitely not.

It was design to be a micro payment scheme, so it we have that in mind then definitely you can use to buy something online that accepts it, simply as that.

Although it has evolved so much in the last 10 years, so can still go on its roots. Maybe it's a store of value, hedge against economic downturn. Regardless it can still be used as form of money. In my case I used it to pay for my monthly internet connections and some bills (through 3rd party).

I use bitcoins to buy gold online. It is better than all of the other modes of payment -- lower price than credit cards or paypal, cheaper than bank wire, faster than personal check.

I also buy stuff on Amazon only using bitcoins, through Purse.io. It is a little inconvenient, but you can get a nice discount.

Bitcoin is basically whatever you make of it. Some use it as a Store of Value, a speculative asset or a Medium of exchange. As a purely decentralized network, there's no right way to use it, as long as it serves your purpose.
It can definitely be used for payments and already there are second layer systems aimed at making it cheaper and faster to transact.

Here is an article on big retailers accepting BTC as payment: https://nowpayments.io/blog/what-retailers-accept-bitcoin
What do you think about BTC payments? Is it a coin just to hodl or something that can and should be used for transactions?