Bitcoin Forum

I found it kinda hard to pay with BTC few times. Because the volatility so high, many times I 'm feeling FOMO and I actually use fiat instead.
Does it happend to anyone else here?

If you believe in the growth of bitcoin then it's kind of a weird cache 22. You will want to use it because you believe in it and want it to prosper but at the same time if the price grows you are effectively paying more for everything in future terms. It's one reason why bitcoin adoption will struggle while the price is so volatile and also while it has such a large upward trend.

Well I am feeling the same thing too, I don't really want to spend with bitcoin but doesn't have any choice because there is something needs to be settle and if the amount of fiat I had doesn't fit with expenses that I have that is why I am busting my bitcoin little by little, because of it, And in my opinion I don't really want to get money from bitcoin because of the knowledge that it can fluctuate so much and may end up in a bull run unexpectedly.

I also felt the same thing because I really believe in bitcoin capacity to increase in the near future. When I need to purchase something, I usually turn it first to fiat or use fiat to buy what I need so that I wouldn't regret that I use my Bitcoin.

I don’t know exactly everyone who has bitcoin is now still used as a means of payment or not, because at the momment bitcoin in my mind more serves as an asset. The consideration to use bitcoin as a means of payment it’s just not a volatile price, slow transaction processing and highfee will be the next consideration.

In my country, payment by BTC is prohibited, it is unfair.

yes i am very selective in issuing or paying with bitcoin, as long as payment can use fiat then i will keep bitcoin. because for me bitcoin is an investment.

Same here, I think twice when there is a chance to pay by Bitcoin. Because it is not easy to buy BTC and due to exchange fees (coinbase fees), I try to use fiat than Bitcoin.

no its really simple for me to pay with bitcoin.bitcoin is one of the easy payment way.

I don’t mind paying with Bitcoin to support the network. But I don’t foresee myself paying with bitcoin regularly, mostly because there aren’t many shops in my country offering bitcoin as a payment method.

no not really!
instead what i do is that whenever i spend bitcoin i try even harder to make that amount back. it is usually earned back from trading and sometimes from doing some jobs online and working more. but i have never gotten greedy when it comes to spending bitcoin.

It's intended as a digital cash system, so that's where I use it for. Like everyone else, I also keep some coins in my wallet but that's mainly for that fact that I don't want to do unnecessary purchases by giving it out all at once. So, I don't think twice before I buy something with Bitcoin but sometimes I feel sad when I look at my transaction history and see a purchase of an in-game item being valued at several thousands at the current exchange rate.

Nope. Rally or crash I only use bitcoin to buy stuff on the net. I do make sure I am spending at a higher valuation than when I bought, but I don't care how much.

Bitcoin is decentralized and volatile, even if you do not use bitcoin to pay you know that this will be happening. If you will be paying, I think fiat is better since you do not need to worry about the volatility unless that guy requires BTC as payment.

I bought my bitcoins at quite cheap price than todays prices so whenever I'm paying through bitcoin I'm paying way less than what it would have costed me without bitcoin.

I don't find it hard to pay with BTC because of volatility, whereas now you can easily pay priority transaction fees and thus volatility won't affect your payment. But I've faced another problem - there isn't that much you can buy with cryptos on reliable websites. If Amazon launches its cryptocurrency exchange - that must become very popular.

For now i dont have bitcoin yet but if i have and if im going to pay using bitcoin i will think twice because bitcoin is one of the most popular and have high value. I don't want to do unnecessary purchases by giving it out all at once  the momment bitcoin in my mind more serves as an asset. And in my opinion I don't really want to get money from bitcoin because of the knowledge that it can fluctuate so much and may end up in a bull run unexpectedly.

Actually, a lot of traders and Bitcoin users are feeling hard to pay with BTC. Some people feel hard because of the high transaction fees involved over there as bitcoin is anonymous and people fear to use the high volatile payment system where the price fluctuates with great momentum. This is the reason people think twice before paying with bitcoin.Also, many times people fear to pay to the third party BTC address as they have to check it much time as the payment done by the bitcoin cannot be gained back and if the address is not right you are not going to get your payment back. So people find it risky while paying with bitcoin.

i try to pay the most as i can with bitcoin ! Mostly the efforts a bit bigger than paying with bank .
But i like to pay me webserver and domain witth bitcoin :P


regards

Yes because let's take steam as exemple when they have accepted bitcoin payment around 600$ / btc so it was a great move from steam so whenever I think to buy something with bitcoin I know that in the future I paid a lot more in value for what I have bought.

Same here, I also felt the same when I'm paying using BTC, like paying it now then tomorrow btc price went high. I would regret a lot for paying btc.

I feel that way sincerely and I am sure a lot of people feel that way too and its largely due to our default thinking that the price will increase then you would blame yourself that you wasted too much to buy at the time. The people in the crypto community are also not helping matters as they are quick to open write an article on how you buy a shirt with .01btc and now worth $2000 but we all forget that its not always the upward every time because if I had buy sometime in January, I would be at an advantage today. This is one of the challenges facing bitcoin today as a lot of people see it as an store of value rather than medium of exchange and until we change that mentality, the volatility will not stop.

Paying with bitcoin is a little bit tricky since the prize is volatile, so if you have something to pay now, pay it today and if you agree with a value, today's or the day you made the payment will be the basis of the transaction, so if it change tomorrow, lower or higher, it's not your fault.

I think twice before paying anything as they are hard earn :) :) . But seriously yes these has happen with me also.Everytime i try  to make payment with bitcoin,i think that prices might go up and i can loose something here so i change my mind and go with fiat.These problem will occur with everyone as people are still looking bitcoin as mode of profit not as a normal currency.

I am never worried about this, because I would have spend that amount on whatever I bought with cash or with my credit

card. You would not have hoarded those coins in any way, so why would you have FOMO, if it was part of your plan to spend

it? If you use your bitcoins on unforeseen expenses, then you should just buy it back. Nothing too complicated here, let's

move on.  ;D

What affects me the most while paying with bitcoin is its transaction fee. There have been numerous past incidents where I had allocated specific amount of btc to purchase a RAM that I wanted and I waited for the fee to fall and when it actually did I assumed it would be low for long and delayed paying for my RAM and thats when i realise its transaction fee is way higher volatile than bitcoins value itself.

yes i do , however i'm always clear to the fact that in paying with bitcoins im assisting its growth because the more you use bitcoins to pay for an item the more likely it is that new merchants will come on board and start accepting it as a legitimate form of payment . once sellers begin to realize that there is a demand to pay for items using the crypto then more persons will begin to accept it as a legitimate form of payment so paying for items with bitcoins is very necessary if we intend to encourage growth and development of this ecosystem.

I agree with you. I don't fear much though. But yeah, we have to change our mentality. Everyone thinks of bitcoin as an investment rather than medium of exchange. Not sure when it would stop though.

I never pay with crypto till this time and still not future plans for paying with it. My concern is the value in USD today worth 100usd for the asset that I bought could worth 200USD after ten minutes due to the sudden price changes and the volatility. I prefer to pay with fiat money.

I agree. I think that's how many of the members here and the seasoned cryptocurrency users think. I think using it as a means of payment would be the weakest way to use it because there are so many other profitable and effective ways on using it such as an investment or trade medium. Nowadays, you would see less and less people seeing it as plain currency comparable to money that is used to pay for everyday purchases and services. I think since that happened, it could teach you that you should really think twice before using your Bitcoin just like that.

What I encounter is that if I want to pay using my bitcoin, the price is always on the negative that's why I choose fiat instead of my cryptos.

But yeah, sometimes I have the same feeling that if I used bitcoin today, it might go up in the next couple of month and regretting my decision earlier. So FOMO is real. lol.

no, not really. bitcoin is really nice to use.

Yes it's happening to me that I regret paying with bitcoin because by the time I use it I'm thinking is, what if the price goes up.

Some of these sites can even give you ebay coupons that help you buy from there. It is really great to see such a progress in recognizing bitcoin. I hope that , other sites start accepting it. It is about time. Even game sites should do it. Bitcoin is the currency of the future. They should all adapt.

I am trading bitcoin daily and getting profits out of it, I keep my profits in USDT or USD to be used in future. So price volatility don't affect me because I will just convert those profit back to bitcoin at the time of my purchase so that I will get same value of my coin at which I have bought them.

But yes volatility affects on your bitcoin spending as price swings between few thousands within 24 hour, you are in risk of either losing 10% value or 10% gain in value between sell/buy price.

However these days there is no any network congestion so paying with bitcoin is not quite expensive like before.

To me very honestly i think trice before sending bitcoin to anyone, in fact there is no retun possible if you will send your bitcoin on a wrong address, and i have earned my mone with extrem hardwork. therefore i will never like to lose my money so easily, In fact in furture i already make some mistakes which also made me more cautious.

I also feel the way you feel, with repeated payments that weigh heavily on transaction costs, but if this is the best course I would have done.

I always thought of paying with bitcoin, and usually I prefer to exchange bitcoin with paper money first to pay for something.

Yes, all the time and if for some reason I do have to send/spend bitcoins I always buy back the exact amount. The fomo is real

Bitcoin isnt accepted as worldwide payment method so there is no reason to hurry up about buying daily stuff while paying in bitcoin. I always check transaction address twice and control miner's fee in order to send best possible time without any delay. I dont want to get in trouble with someone specially if there is no refund feature in cryptos that is the reason behind to check receive address few times.

I prefer bitcoin as an asset for investment rather than as a means of transaction other than that in my country there has been no official enforcement from the government to allow transactions with bitcoin for the reason that there is already official money to conduct a transaction. and if I want to do the transaction usually I do is to exchange bitcoin into fiat money.

do mean hesitant? though paying through internet with bitcoin is somehow a bit risky for first timer... but if its a must... then give it a try only to something which is not costly... :)

yes absolutely because bitcoin is more of a stock rather than something to be used as a payment system
it is used for investment by many people because of its price volatility and most of fiat currency are not like that
the way the price changes radically makes it more of a stock rather than a currency

It is logical to think twice about paying with bitcoin, since it is a cryptocurrency with a high profitability, to spend it as a fiat currency. I believe that the best and most prudent thing is to use bitcoin as an investment in time and not as an expense.

Well if you have truse on your strategy and what you are thinking ni more doubt and invest it. No more 2nd thought because when you are investing most of people search on the previous result and on what thr learn about it they know that its the right time to but and no one can stop it. For investing is like a gamble you just trust ou self no more deep thinking :)

Yeah, people afraid of big volatility of BTC and other criptocurrencies. Mostly people buy BTC as investment but not for payments

Pay through internet with bitcoin is somehow a bit risky for first timer, but I like to try it some how. I'm not even try it since I start hope that i can try soon. I think it's very nice experience and the time i learn how to do it hope all payment will be like that.

If the price was not crossed $20k margin then people may use it for payment mode, now everyone knows the price will again rise so nobody will show interest to lose there BTC to buy some daily stuff. as you said people are treating BTC as an asset.

Accepting Bitcoin payments has facilitated the process of Bitcoin's entry into the mainstream population. In short, if consumers begin to use Bitcoin extensively to pay for their daily consumption, tax laws will reduce the enthusiasm for people to use Bitcoin.

I have not dared to make a payment using bitcoin because transaction costs using bitcoin are so high that I only make bitcoin as a digital asset for long-term investing. But, if I am forced to use bitcoin to make a payment then I do not mind as long as the transaction fee does not exceed the price to be paid.

Before i used to pay stuff using bitcoin and the price of btc before was low so the fee is very low too. It's very convenient to me at that time because i only have btc as my option to pay stuff. I had not hesitate to pay with bitcoin at that time. But when the price starting to increase and eventually the miners fee also increasing i had to think twice if i'm going to continue to pay with bitcoin but later on, i decided to quit paying with bitcoin and starting to see it as my investment. I can't afford to pay for high fees before because btc is rising. If only the miners fee is low i think i will be using bitcoin as a payment option up to now. Let's see in the future if some company again begin using btc as another payment method.

I think you're right, and paying with Bitcoin will make you regret because you don't know whether Bitcoin will appreciate or not. If you trade with Bitcoin, you may lose.

Yes, not just twice but several times because it is an investment and its kinda hard for me to pay or withdraw and exchange it to fiat specially when the market is red but I guess it happened and experienced by everyone here if there's an urgent money needed. We got no choice but always think that bitcoin is best for long term invesment and not to be use for expenses, if there's other way for you to not use it then don't.

Yes i think before btc buy so many things personally io dont buy btc when the price too high i just try to  buy btc when price down and the other situation is green. i am not a day trader  i am small investor so i try to buy btc when market red .

I also prefer to pay with fiat as i anticipate the volatility too and still not convenience to pay for daily micro transactions but if there's only bitcoin payment in an online merchant that i could afford, i wouldn't mind to pay with bitcoin.

for me paying with crypto more easy secure and fast.
but i always double check for the destination address.
doesn't like fiat, there's nothing we can do if we send to wrong address.and we will lose our money forever

I am deciding on a case to case basis. Usually I don't have a problem with paying with BTC but if I see that we are currently in a big dip I will probably use fiat. On the other hand if we are currently a little overbought I will make sure to use BTC.

Not at all. If I am carrying out a transaction with a seller which accepts bitcoins, I do not hesitate to use it as I see bitcoin just as much of a currency as it is an investment asset really. Bitcoin has a lot of potential when it comes to being a currency. Although during bear markets such as this, I tend to use fiat as I wait for the price of bitcoin to go back up again.

Yes i'm scared that if i pay bitcoin then within an hour the price will increase but im usually paying with fiat like you instead of my bitcoin.

I don,t even try paying with bitcoin,more over bitcoin payment is open in my country,we still use fiat pay. But if this is made valible in my country i will like it paying but with caution

Moreover bitcoin is more suitable as an investment tool. Do not waste the opportunity to get a bigger profit just because it uses it as a means of payment that can still be solved by using fiat.

Yes because it is my hard earned bitcoin. I should be responsible in every transaction that I will make. If I would buy something with bitcoin, I will think if that’s worth or not because it is hard to get a bitcoin now. So I will be very aware to my bitcoin and hold for a long period of time.

It is a good habit if you think and check again your transaction before sending it to any person, because bitcoin is not a reverse process and if you will send your bitcoin to a wrong address you cannot reverse the amount of bitcoin you have sent to an address. To me i have already sent some amount to wrong addresses therefore now i try to be more careful while sending bitcoin to an address.

It’s natural because you invest in Bitcoin, everyone who has Bitcoin have feel this. I use Bitcoin only if forced and really need it for my life, this is one of the investment benefit right? Like gold, some people use it as 'unexpected funds'

Though in my country, some online merchants accept Bitcoin as payment, I am not spending my Bitcoin as it is. I still have to convert it to fiat to buy some of my needs and settle some bills.

Of course, there’s a feeling of FOMO (Fear of Missing Out) while the volatility is so high. Anything can happen overnight while we are sleeping.  But as time goes by, we must learn how to control this feeling. What we have spent will always get back if we know how to do trading and other ways to generate crypto.