Bitcoin Forum

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?

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.

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.

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 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.

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.

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.

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.

 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 .

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.

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.

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.

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.

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.

Unfortunately, there are still too few people using btc as payment, the main problem now is this.

Yes i think it can be used as a payment methode it will be very intersting because when the price of bitcoin is low you can freeze them into a stablecoin and sell at a higher price will which help btc going up.

That's the advantage of Bitcoin, you have to admit it, Bitcoin is not only used for investment, trading and so on, Bitcoin is a digital currency that is currently being used and sought after by the world community, be it transactions with real goods such as in malls, restaurants, etc.

Bitcoin is an asset that can be traded in two markets "crypto market and exchange in real market" as I said above.
The bottom line: you have to admit that for now Bitcoin is one of the most popular digital currencies in the world, its prowess exceeds the currency of every country.

You have ever come across currencies of other countries that cannot be used in certain countries, however, not with Bitcoin all countries accept it, are you sure about that.

IMO bitcoin can be both payment method as it is really the aim of it's creation. It can also be an asset for investment, this is dominant now.
We use bitcoin because it is much secured compared to other cryptocurrencies out there, and I think that is the reason why transaction using this platform is costy than other crypto.

Regardless of how important and necessary you are in holding bitcoin, because even though it is a long-term asset, it is still an urgent need to take precedence. it's just that there is no other way than to transact using bitcoin? only its ownership will be of use over time.

I think in both side you can use bitcoin. It is depend on you what you want. ,Any owner want to hold to make profit or some people use it for transaction as it is easy to use as payment or transaction. Totally up to you what you want.

They probably want those people that are using it against the purpose that they want to be the same as theirs. There were the same discussions in the past and still there are people who are upset that tells it that it should be only used as purpose number one instead of using it dually.

I wouldn't say that as few. We're in the adoption period and it's increasing, with the help of media, institutions, and other personalities that are giving exposure to bitcoin. It gives an idea to those people what bitcoin is and be it as a payment or an investment.

For me you can do both, it depends on what kind of transaction you are doing if from international payments then btc is the most applicable since it has no borders at all you can send it worldwide regardless of amount and the number of merchants accepting btc is also increasing and its popularity is overwhelming btc in the future maybe become the no.1 currency and safe haven of all assets then holding this coin is a wise decision. 

Good article! Thanks for sharing! Everyone is free to spend their Bitcoin as they want best.
If you want to spend them it is ok as if you want to hold as well as how to have it as a store of value.
I particularly holding my bitcoin because I am looking forward to the new times. The forecast we see is like there will be big changes in technology, finance and the economy.
If we have been spending bitcoin all this time now we should think a little better and holding.

I think he accepts Bitcoin as payment just for pile up it. After accumulating a lot and the price has been high, then he will sell it. Because bitcoin has a volatile price, accepting bitcoin as payment will double its future profit.

Many shops, services accept Bitcoin as a payment method.
So it won’t be a surprise if other people too accept payment in BTCs.
I myself has sold some Btc and bought some cool gadgets from Amazon.
Now my only dream is left to buy a Car through Bitcoins.
And i am sure in future there will be car dealers accepting payment in BTC too.
Let’s hope for best.

To be clear, Bitcoin is currently being used more as a store of value than as a payment method. Plus, considering the investments made by investors and the limited supply of bitcoins, it is more advisable to keep Bitcoin rather than spend it, unless you are facing financial difficulties for the time being.

With the rapid increase of the price of bitcoin, a lot of people have become interested in it and some of the business owners are now looking forward to it to be the means of payment which is also a good thing for many people who are using bitcoin or any cryptocurrency. We have seen a great improvement in the world of crypto so this kind of thing would be really useful for both business owners and to the customers.

It depends on how you want to use your bitcoin. If you want to use it in a daily basis transaction or payment method then go, if you want to use it as an investment then hold it for your future sake, your the one who will decide on what you want to do on your bitcoins. The thing is that there are some retailers who are accepting bitcoin as a payment method and the good thing here is that it helps the community to widened the length of adaptation of every people. You can use both bitcoin as a payment method and investments, you can choose on those two.

It's an interesting question to ask, the answer which I think differs depending on whom you ask.

It's purchase power can increase many folds but this is in relation to time. If you were to momentarily consider using BTC to purchase assets, unless it was as a means to cash out your BTC it wold be fine. Otherwise, you'd always wonder if buying something now will be worth its price in the future.

It's a gamble...that only you can consider wroth taking or not.

It seems that the bitcoin payment business is not suitable. because now at the current price the transaction fee is of course large (Small nominal transactions) but for companies that are going to make large transactions this is very profitable. I am not sure if it is used as a payment at the store, many choose other altcoin alternatives because of the large fee.

the decision to use bitcoin as a means of payment or investment tool or trading commodity depends on the situation and conditions, as well as the views of each person on the principles of bitcoin. So far, I only use bitcoin as a trading commodity, around where I live there are no shops that accept cryptocurrency as payment. so using traditional money is still quite effective so far.

The adoption of bitcoin as a means of payment is strong evidence that bitcoin is starting to be accepted by the public and the state. We cannot deny that bitcoin can be an effective cross-border payment alternative without time and space limitations, without complicated administrative requirements. but it takes sufficient knowledge because it is quite complicated for ordinary people, but take it easy, it will be very easy if we want to learn.

I choose bitcoin as mean of investment place, yeah no more than that.

My country still ban bitcoin to be made as mean of payment so I never try it in my whole life since I know bitcoin.

Also, the transaction fee is high already. I would never be happy to pay more than $ 15 for a single transaction, that's a really bad thing.

I get mad when people say we take bitcoin, only to find you have to use some preferred service,  have a wallet with them, in order to make a payment, I don't know of too many places that will just say send some coins to X btc address. They all want you to sign up with their partner vendor, buy coins from there (most of those vendors won't let you send your coins to them either, you can only populate your wallet with them if you buy coins from their platform), then spend the coins from an account with coins but not a real btc transaction!

Yeah, no thanks. I'd use BTC as a means of payment for more expensive items if people would take it by just saying send coins here, like the scam emails saying I've watched some bad porn always say.  ;D

I've tried paying bitcoin many times. It's something that fulfill your curiousity and doesn't regret that I used it for a good cause. Though fees are quite high you are slightly regretting for the transfer of it.

And anyhow, since it is valuable at this moment, it is best just to hold it and consider it as store of value rather than spending it.