Paying with Bitcoin.

[Taricoins]

[...]
If yes or no, please state your reasons so we can all learn from it.

Thank you

The answer is "yes", but... why would you? Paying for something with Bitcoin is just like paying for something with your TSLA or MSFT shares. You can technically do it, but why would you? Bitcoin might be a good investment, but it's turned out to be very poor for transactions, as they are extremely slow and extremely expensive compared to the available alternatives.

So don't pay for things with Bitcoin directly, just convert some of your BTC to USD (or whatever sovereign currency) and perform the transaction the way you normally would. There's no advantage to paying directly with Bitcoin (assuming the payee even takes it), and lots of disadvantages.

Although it didn't start out this way, today Bitcoin is in all practicality an investment instrument, not a currency.

I like your idea because not every place in the country accept bitcoin or even know anything about bitcoin. So it mush better to change or convert the bitcoin to any currency of your , chiose
 

[m2017]

he main distinction between Bitcoin and money is that the former has been accepted by the public for some time now, even in the absence of government support.

This acceptance is extremely small compared to the traditional market of commodity-money (fiat) relations.

For this reason, the government is actively opposing Bitcoin, and as long as it remains widely accepted, I fail to see why the government is taking all necessary steps to maintain control over it and extract taxes from its users—activities that they have already begun to carry out.

Governments are against bitcoin because it deprives them of the sole right to control people through financial means. Money in the modern world is the same element of control as chains on slaves. Governments can't appropriate and manage bitcoin, therefore, they are against it and are trying to at least collect taxes from it. That's all they can do at this stage.

and I love the way it was designed it is your choice to spend it or even keep it as an asset only we all know the purpose of money already.

No, many people don't know. The purpose of money is to use it as a medium of exchange in trade and monetary transactions. It is not a store of value, but the funny thing is that bitcoin has the characteristics of both a medium of exchange and a store of value.

And I see that having few merchants would have considered a lot of things but if I was a merchant I would be glad to even receive Bitcoin as a payment method because it will favor me I will just be gradually accumulating and the people that pay with money I will use that money to get must of the things needed in the shop. and if it is about the fee there are times that the fees are always low but if the mempool is full then there will be a serious challenge whenever you want to make use of bitcoin. and that is life anything that has advantages at the same time has its disadvantages.

Will this benefit you if the bitcoin rate falls, and you need money to buy goods for your trade and pay employees and you don't have other free funds at the moment. Bitcoin is currently not very suitable for use as a means of payment. Even if you accept bitcoin as money for your goods and services, at the next stage you will use it as an investment asset, without selling it and holding it. If bitcoin were full-fledged money, you would send it further (to the supplier of goods for you) as a means of payment for the needs of your trade, but practically you will not be able to do this due to the low acceptance of bitcoin.

[Nrcewker]

If you ask me then, I personally don’t like to spend Bitcoins to buy other items. The reasons are pretty clear. Bitcoins are fixed in numbers, that is the supply is limited. Hence we can consider Bitcoins are very rare and valuable. Now why to spend these valuable items. We know that prices of Bitcoins are increasing day by day. Hence it will better to keep it with you only rather than spending here and there. Instead of spending these rare coins, accumulate and hold it for long term.

[EarnOnVictor]

[...]
If yes or no, please state your reasons so we can all learn from it.

Thank you

The answer is "yes", but... why would you? Paying for something with Bitcoin is just like paying for something with your TSLA or MSFT shares. You can technically do it, but why would you? Bitcoin might be a good investment, but it's turned out to be very poor for transactions, as they are extremely slow and extremely expensive compared to the available alternatives.

So don't pay for things with Bitcoin directly, just convert some of your BTC to USD (or whatever sovereign currency) and perform the transaction the way you normally would. There's no advantage to paying directly with Bitcoin (assuming the payee even takes it), and lots of disadvantages.

Although it didn't start out this way, today Bitcoin is in all practicality an investment instrument, not a currency.

I like your idea because not every place in the country accept bitcoin or even know anything about bitcoin. So it mush better to change or convert the bitcoin to any currency of your , chiose

Of course, this is a good idea and what most people are doing at the same time. At times, it is the USDT and other stablecoins that will save the day especially if where we are sending the money to allows it. At times, it will be the USD and other top currencies options, and the best part is that most sending methods would have had the automatic converting system which will not make it a problem again. I can't even believe myself paying with Bitcoin directly at times. Do you know why? My reason may be different from you guys, but it is mainly to avoid rip-offs.

As uncommon as this allegation may be, it is true, and my experience has been many. This was what forced me to use USDT if it is allowed where I am transacting than using Bitcoin. The issue is that many companies are using a third party for their payments and these third parties are using the opportunity to swindle their customers. At times, I would want to send a Bitcoin worth of $1000 when I withdraw, but I might end up seeing $991. Can you believe it? This is despite there was no congestion in the Mempool.

If asked, you will hear it is the third party that is setting the price. What nonsense. With either $ to USDT or $ to $, such does not happen.

[YUriy1991]

After doing my research, I came to realize that this may probably be influenced by personal choices. Because looking at it thoroughly, some people would pay for items using things like Gold, Land, and other assets. But in the eyes of a money literate, that may be totally wrong.
So, I would love to ask and get this confusion over with. Is it ok for you to purchase items with Bitcoin? If yes or no, please state your reasons so we can all learn from it.

Thank you

Buying and selling bitcoin is still pretty ideal. It looks like we'll be going through a lot of bubbles over the next few years as this currency becomes more widely understood, used and accepted and it's true that the biggest risk is regulation but why not as long as it's legal where we live but If we look at the development of BTC, many people now see this potential.

[Blitzboy]

[...]
If yes or no, please state your reasons so we can all learn from it.

Thank you

The answer is "yes", but... why would you? Paying for something with Bitcoin is just like paying for something with your TSLA or MSFT shares. You can technically do it, but why would you? Bitcoin might be a good investment, but it's turned out to be very poor for transactions, as they are extremely slow and extremely expensive compared to the available alternatives.

So don't pay for things with Bitcoin directly, just convert some of your BTC to USD (or whatever sovereign currency) and perform the transaction the way you normally would. There's no advantage to paying directly with Bitcoin (assuming the payee even takes it), and lots of disadvantages.

Although it didn't start out this way, today Bitcoin is in all practicality an investment instrument, not a currency.

I like your idea because not every place in the country accept bitcoin or even know anything about bitcoin. So it mush better to change or convert the bitcoin to any currency of your , chiose

Of course, this is a good idea and what most people are doing at the same time. At times, it is the USDT and other stablecoins that will save the day especially if where we are sending the money to allows it. At times, it will be the USD and other top currencies options, and the best part is that most sending methods would have had the automatic converting system which will not make it a problem again. I can't even believe myself paying with Bitcoin directly at times. Do you know why? My reason may be different from you guys, but it is mainly to avoid rip-offs.

As uncommon as this allegation may be, it is true, and my experience has been many. This was what forced me to use USDT if it is allowed where I am transacting than using Bitcoin. The issue is that many companies are using a third party for their payments and these third parties are using the opportunity to swindle their customers. At times, I would want to send a Bitcoin worth of $1000 when I withdraw, but I might end up seeing $991. Can you believe it? This is despite there was no congestion in the Mempool.

If asked, you will hear it is the third party that is setting the price. What nonsense. With either $ to USDT or $ to $, such does not happen.

I've felt those hidden fees, watched my Bitcoin quickly deplete. A recurring story, it illustrates the cryptocurrency ecosystem's complexity. USDT in certain trades reflects a risk-mitigation strategy. In my trades, I've used this smart maneuver. Stablecoins give stability amid crypto's turbulent waters.

But Im still loyal to Bitcoin. More than a currency, it signals financial freedom. Your frustrating experiences are not a reflection on Bitcoin, but of its ecosystem. Third-party middlemen' opaque fee structures remind Bitcoin of the systems it aspires to escape.

I defend the money and its values. We create an inclusive and transparent financial system by overcoming the hurdles of a decentralized financial future. Bitcoin leads this battle with its peer-to-peer transactions. Progressing toward Bitcoin's autonomy and transparency principles is key.

[DisabledAF]

So, after reading a thread and realizing that paying with Bitcoin would mean that you'd be paying with future returns, I went on to research the topic of paying for goods and services with Bitcoin.
Bitcoin is decentralized meaning that it can be transferred to anyone without the interference of intermediate/ central authorities. This also implies that buying goods and services would be faster and easier if more people owned and accepted Bitcoin. If Bitcoin was adopted and accepted as a means of exchange in many countries then there would be a huge improvement in various and global economies.
It'll enable more people to access financial services and knowledge, reduce the rate at which bank charges are being paid, values gotten by sellers will increase rapidly, anonymity and many others. Apart from the loss on the buyers's part, Bitcoin has lots of disadvantages which would be challenges and pose lots of unhealthy risks if adopted.

After doing my research, I came to realize that this may probably be influenced by personal choices. Because looking at it thoroughly, some people would pay for items using things like Gold, Land, and other assets. But in the eyes of a money literate, that may be totally wrong.
So, I would love to ask and get this confusion over with. Is it ok for you to purchase items with Bitcoin? If yes or no, please state your reasons so we can all learn from it.

Thank you

I'm not sure if I belong to the group that can afford to pay with Bitcoin yet because I am not consistently in the positive - to be able to use it right away. Although after today's price increase, it looks very impressive
My goal is to accumulate regularly in small amounts (DCA) and I plan to use Bitcoin for payments from 80k USD and above.

[romero121]

After doing my research, I came to realize that this may probably be influenced by personal choices. Because looking at it thoroughly, some people would pay for items using things like Gold, Land, and other assets. But in the eyes of a money literate, that may be totally wrong.
So, I would love to ask and get this confusion over with. Is it ok for you to purchase items with Bitcoin? If yes or no, please state your reasons so we can all learn from it.

Thank you

Buying and selling bitcoin is still pretty ideal. It looks like we'll be going through a lot of bubbles over the next few years as this currency becomes more widely understood, used and accepted and it's true that the biggest risk is regulation but why not as long as it's legal where we live but If we look at the development of BTC, many people now see this potential.

Buying and selling bitcoin could help with making a profit, as the volatility of the market is experienced, unlike the bullish or bearish trend of the market. When it comes to buying a product with bitcoin or not, it is completely up to the person's choice. We use it today, and later, when the price has grown, we regret buying a product with bitcoin, having the feeling that if we had kept it, we could've gotten better money out of it. For this reason, the usage of bitcoin, similar to the currency, is very low, and the majority prioritize it as a high-profit investment over a transaction source.

[BlockchainJobsBoard]

When it compares with traditional banking, you'll get below main advantages by paying in Bitcoins.

1. Decentralization

Bitcoin operates on a decentralized network, meaning it's not controlled by any single authority, government, or financial institution. This can provide a level of independence from traditional banking systems.

2. Security

Bitcoin transactions are secure, irreversible, and do not contain sensitive personal information, which can reduce the risk of identity theft and fraud.

3. Lower Transaction Fees

Transaction fees for Bitcoin payments are typically lower compared to traditional banking and credit card fees, especially for international transactions.

4. Fast Transactions

Bitcoin transactions can be processed quickly, particularly when compared to traditional banking systems, which may involve delays due to verification processes and intermediary institutions.

5. Accessibility

Bitcoin can be accessed and used by anyone with an internet connection, providing financial services to people who may not have access to traditional banking systems.