Would you buy a coffee using BTC during current times?

[pixie85]

Let's say that you purchased a bunch of coffees back in the day when the price of one BTC was valued at a mere $100. You bought $100 worth of coffee for friends and family. Pretty cool? Well today, one BTC is worth approximately $6,300. In retrospect, that is some expensive coffee! With those prices, that would be the equivalent of a $400 regular coffee, or a $800 cappuccino?
 
No thank you. I will hold onto my BTC and watch it's value grow, not go down the drain.

This is a double edged sword. What if you bought coffees and the price tanked to $50 per coin? You got a 50% discount on your purchase. Things like that happen every year. If you bought something in december 2017 like a car you got it almost for free because 6 months later Bitcoin was worth 70% less.

You can hold on to your coins and check the portfolio in 5 years to see you can't even buy a decent meal with all your coins.

[olamidey]

Anyone buying coffee with BTC should be aware of the transactions feess and shouldn't complain. Definitely, coffee will be cheaper with a.more costlier fee to send BTC. So not advisable. Twill be crazy to buy Coffee with btc and it picks up, and you found the present value can be a warehouse of coffee. Why not invest and trade your BTC instead of this mind boggling coffee issue

[alpacapone]

I wouldn't because I get more perks using other methods like my Cash App card which gives me $1 back every cup of coffee I buy. If there was a prepaid card you could fund directly with BTC that offered a similar perk, I would consider it.

[vhns222]

i think people will do it i mean use btc in their everyday life if the price will stabilise for example if we have a situation when BTC price is 100k and it canges only 0.1-0.2 % then user will now there will not big lose but now you can pay 0.5 btc as a 4000$ but afther week  it become 7000$.

[Twinkledoe]

I wouldn't because I get more perks using other methods like my Cash App card which gives me $1 back every cup of coffee I buy. If there was a prepaid card you could fund directly with BTC that offered a similar perk, I would consider it.

Aside from that, the transaction is easy peasy using your coffee card (i.e. Starbucks Card). If I'll use btc for smaller transactions, the fee might not be reasonable enough to use crypto payment method. Aside from the fact that you need to wait for the confirmation of your transaction. Maybe, I'll use this method if I'm traveling and crypto payment is one the easiest option to take.

[sngwinner]

I don't see why I should use btc to pay for $1 or $2 coffee when only the transaction fee only can pay for the coffee when I pay with fiat. Moreover, I see btc as a valuable asset and will only trade it for something worth that value otherwise, I will only change it to fiat and spend my cash

[bering]

Depend on the fees itself and currently indeed the transactions fees might be made some difference because if the fees lower i think everybody are willing to buy some coffee use bitcoin but if the transactions equal to coffee price or higher i don't think people will buy it

[1Referee]

Bitcoin's main-chain currently is beyond the stage where it's worthwhile using it for $1-$2 payments, and with how the crypto market as a whole seems to bubble up, the situation isn't going to improve at all. Another thing that I noticed is that speculators seem to randomly pick a super high fee while they don't have to do that at all. This inflates the fees unnecessarily, but hey, what can you do about it? It's a free fee market.

I'm perfectly keen using Lightning for smaller transactions, which I have been doing quite intensively already the past few months. It felt kinda weird after a whole week of not sending a single main-chain transaction to wait for a confirmation again, because once you go Lightning, which is a Ferrari, you don't want to go back to your old rusty bike with a flat tire again.

[munareal]

I for one will not use my precious Bitcoin to buy coffee. I am keeping my satoshis to build up my  Bitcoin holdings and I will not use it as a payment method. I keep them as a future investment.

[xWolfx]

This is a double edged sword. What if you bought coffees and the price tanked to $50 per coin? You got a 50% discount on your purchase. Things like that happen every year. If you bought something in december 2017 like a car you got it almost for free because 6 months later Bitcoin was worth 70% less.

You can hold on to your coins and check the portfolio in 5 years to see you can't even buy a decent meal with all your coins.

But if merchants set up a payment system that instantly changes the BTC to fiat then it won't be that much of a difference, since the price is live and it gets calculated as soon as you perform the transaction.

For a win-win situation that is by far the best way to do things. At least for now while Bitcoin stabilize.

[BitHodler]

Definitely not. I use what's the most convenient for me in local situations, and that's fiat. Bitcoin is too expensive and inconvenient to use. I don't know why people keep forcing themselves to use it for coffee payments.

Another point of importance is that in some countries spending Bitcoin (or any other crypto currency) is considered to be a taxable event, which adds more problems than it solves.

Bitcoin evolved into something that represents gold and no longer a viable small payment network it once was. No scaling = limiting usage so we have to accept that. I wish it was different, but lets hope LN will give us that.

[pixie85]

This is a double edged sword. What if you bought coffees and the price tanked to $50 per coin? You got a 50% discount on your purchase. Things like that happen every year. If you bought something in december 2017 like a car you got it almost for free because 6 months later Bitcoin was worth 70% less.

You can hold on to your coins and check the portfolio in 5 years to see you can't even buy a decent meal with all your coins.

But if merchants set up a payment system that instantly changes the BTC to fiat then it won't be that much of a difference, since the price is live and it gets calculated as soon as you perform the transaction.

For a win-win situation that is by far the best way to do things. At least for now while Bitcoin stabilize.

You misunderstood. The guy I was answering said that it's not worth buying anything because bitcoin could go up in value and you will lose your potential profits.
It's not about losing some profits while the transaction is processed but losing value in the long term like the pizza guy did. Most merchants use processors that convert bitcoins to fiat in an instant.

[Yakamoto]

Let's say that you purchased a bunch of coffees back in the day when the price of one BTC was valued at a mere $100. You bought $100 worth of coffee for friends and family. Pretty cool? Well today, one BTC is worth approximately $6,300. In retrospect, that is some expensive coffee! With those prices, that would be the equivalent of a $400 regular coffee, or a $800 cappuccino?
 
No thank you. I will hold onto my BTC and watch it's value grow, not go down the drain.

This is a double edged sword. What if you bought coffees and the price tanked to $50 per coin? You got a 50% discount on your purchase. Things like that happen every year. If you bought something in december 2017 like a car you got it almost for free because 6 months later Bitcoin was worth 70% less.

You can hold on to your coins and check the portfolio in 5 years to see you can't even buy a decent meal with all your coins.

To my knowledge, a lot of companies are very quick to exchange their Bitcoin because of the exact reason you mention. Maybe, at best, they could use the drops in the fiat value to write off some of their taxes in the form of capital losses, but I can't think of a lot of companies that want to write off their revenue as a capital loss. I'm pretty sure that Steam/Valve had this exact issue when they began to accept Bitcoin a year ago, where it kept going higher and then it started to crash and they (very rapidly) cut their acceptance for Bitcoin. I almost guarantee that they were seeing this as a loss of revenue, and it probably hurt them more than it would most other companies due to the fact that they still have to forward the money earned to developers for games. It squeezed their margins, and that wasn't something they could regularly deal with, I guess.

As for OP's question, I don't drink coffee, so I can't say that I would be interested in purchasing coffee using Bitcoin.

[Gi01]

I will only use Bitcoin to buy coffee when Bitcoin is recognised worldwide as a currency and it is used easily for every activities of daily living.

[Best Dreams]

I for one will not use my precious Bitcoin to buy coffee. I am keeping my satoshis to build up my  Bitcoin holdings and I will not use it as a payment method. I keep them as a future investment.

It is good to keep holding then to use because we know value of bitcoin is increasing with the passage of time so not good to use for purchasing something like this, coffee we can buy with using small amount of cash then it is not good to use our precious saving and investment for the sake of anything so my decision is holding instead of buying coffee.

[BlackFor3st]

Though it is very crazy to think that you are going to pay more in transaction fee compare to your order knowing that coffee is very cheap. There is a little chance that I am going to buy coffee using a BTC but if I have no other option then maybe someday I will be willing to pay 100$ transaction fee while paying like 2-5$ for coffee.

There are other currencies that is more suited in paying small transactions but in the current condition of bitcoin right now. It's fee is higher especially if you are going to execute small amount of transaction like 1-10$ only.

[Pasaway2701]

I don't want any hassle so if the cost of a coffee that I'm going to buy is that low, I would rather use cash to buy it. I won't complicate things when there is actually an easier way for me to buy with no fees needed. I would use it when purchasing goods at a higher cost which is worth the fee.

I agree. It is not worth to pay the fee to buy a cup of coffee and just having a hard time to process it if you have an amount on your pocket. Better to used it on more worth things or even invest it or just keep it on wallet for it to grow while the price is pumping.

[Cryptohistory7]

As people move towards adopting the use of BTC and other cryptocurrencies especially in their everyday lives and routines (especially also if merchants begin to use blockchain projects and Altcoins in their payment processes), they'd be less resistant towards paying for simple purchases like coffee with BTC. Many projects are also have digital wallets that are linked to a debit card so that you can convert your cryptocurrencies and make purchases instantly on fiat terms at physical stores at little to no transaction costs and foreign exchange fees even, so buying a coffee using BTC or any other cryptocurrency may become more convenient than using fiat eventually!

[Initscri]

If the coffee was good

In all honestly though, yea, I would. Currently. And I probably would regardless of the price.

I have a certain reserve of Bitcoin that I call my "MOON" bitcoins. Essentially, the Bitcoins I pretty much want to hold onto no matter what.

And then I have a fund which is produced solely from the work I do. That, I'm more willing to pull from for things like daily items. I also think it's beneficial for the BTC economy in general, when Bitcoin is used to buy staples. I mean, the digital currency was invented primarily as a way to pay for things, not a value store.

[ralle14]

I would if I don't have to wait for a confirmation so I could use a low fee for all of my transactions because if I made hundreds of transactions with the current recommended fee it's worth at least $100 or close to that amount. I could be saving several cups of coffee if I use a different payment option. If there's a coffee shop near me that does off chain transactions i'll be happy to buy one.