Buying food or groceries with Bitcoin

[Chris Barth]

But if we could be able to buy foods with bitcoin in this time , it would be very slow because as you know bitcoin transaction time
is slow. We should use altcoins for it like eth or ltc.

Why so? We can use bitcoin to make any payments irrespective of it's speed. If I owned a restaurant and I accept bitcoin, I wont have to hold down my customers because I haven't fully received the bitcoins in my wallet. I mean; Just 1 confirmation should be enough to know that the transaction will be successful. My thoughts tho.

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[Abiky]

Unless you're desperate I can't see a time when anyone will want to spend their hoard on consumables. It's simply not how humans are programmed.

Imagine paying 50 BTC for a tank of gas in 2011. You got 3-400 miles of forward motion vs a very nice house a few years later.

There'll come a time where the gains are much lower but it'll still always deflate. It'll be the very last thing you want to spend on everyday trivialities.

Good point. It's like paying with Gold for good and services. We all know that Gold is volatile in price, just like any other precious metal on the market. Bitcoin is no exception. The best way to spend crypto at mainstream merchants and businesses right now is through a stablecoin. Coins of these type maintain their value of $1 USD per coin (most of the times), making them an excellent alternative towards traditional Fiat. I'm sure that someday we'll be able to see supermarkets accepting stablecoins for the benefit of all. Stablecoins are much faster and cheaper than Bitcoin itself. This, alongside their stable prices on the market, make them the ideal choice for the decentralized economy.

Nonetheless, the high demand for crypto payments in the mainstream world, could result in more merchants and businesses accepting it as payment method. I'd sometimes wish that Walmart, Amazon, and some other renowned companies would accept crypto in the mainstream world. They would certainly make crypto viral, resulting in higher prices on the market. Ultimately, what matters is usability rather than the price per coin. Bitcoin is useful, but not ideal for payments of large scale. The Lightning Network aims to solve this problem, but it has a long way to go before it's considered "perfect". Just my opinion

[Sadlife]

I think it's still to early for Bitcoin to be used as a form of transaction towards goods and services because in the end people will convert it to Fiat doing no benefit to Bitcoin at all.
I prefer Bitcoin as of now an asset for wealth, a safe haven for investors against inflation and unstable stock market.

[Reatim]

I think it's still to early for Bitcoin to be used as a form of transaction towards goods and services because in the end people will convert it to Fiat doing no benefit to Bitcoin at all.
I prefer Bitcoin as of now an asset for wealth, a safe haven for investors against inflation and unstable stock market.

I don't get it mate?

What does it mean that people need to convert to fiat when the topic says using crypto to pay for goods and services?

People need not to convert because  the payments will be directly using crypto from our wallets.

Actually this is happening in  japan and other country now and even some small businesses are also accepting Bitcoin now using QRcode scanning  transaction has been already in action these days of ours.

[kentrolla]

I think it's still to early for Bitcoin to be used as a form of transaction towards goods and services because in the end people will convert it to Fiat doing no benefit to Bitcoin at all.
I prefer Bitcoin as of now an asset for wealth, a safe haven for investors against inflation and unstable stock market.

I agree on your first point as a form of transaction towards goods and services it will take more time because trust matters here, In this digital age people are slowly moving on new era like transactions are happening in finger tip at the same time things will change in quick time like BTC will start dominating.

BTCs popularity will increase when commodities happen easily with BTC similarly gold, real estate etc. If this happens I am sure BTC will become a gem.

[concept2]

Do you think that in the future it'll be possible to buy food or groceries with Bitcoin? I know that volatility is a huge issue for Bitcoin to be accepted as an alternative to traditional Fiat, but merchants and businesses could quickly convert Bitcoin to a stablecoin minimizing the risk of loss. What are your thoughts?

I guess there might be a chance for bitcoin to be used to buy food or groceries. In fact, I guess there are a few small merchants who do accept this cryptocurrency as a payment method. However, I do not think that using bitcoin is more convenient than credit cards or other Fiat cards. Since the international visa system develops, there are many rewards and cashback which are very necessary for those buying many things 

In the next few years, we has a chance to witness a spike move from traditional payment to cryptocurrency payment. But after that, people need to do a lot of thing to prove that bitcoin is suitable to join the world payment system

[Rebisco]

I think it's still to early for Bitcoin to be used as a form of transaction towards goods and services because in the end people will convert it to Fiat doing no benefit to Bitcoin at all.
I prefer Bitcoin as of now an asset for wealth, a safe haven for investors against inflation and unstable stock market.

I agree on your first point as a form of transaction towards goods and services it will take more time because trust matters here, In this digital age people are slowly moving on new era like transactions are happening in finger tip at the same time things will change in quick time like BTC will start dominating.

BTCs popularity will increase when commodities happen easily with BTC similarly gold, real estate etc. If this happens I am sure BTC will become a gem.

Did you all know that the bitcoin increased its popularity all over the world during this pandemic?  After the WHO announced that the virus can spread through fiat money. Online transaction are became the daily usage of many people. The current payment system is now changing and many people are excited to see that many businesses especially groceries will accept bitcoin as payment.

[Kez1817]

I think it's still to early for Bitcoin to be used as a form of transaction towards goods and services because in the end people will convert it to Fiat doing no benefit to Bitcoin at all.
I prefer Bitcoin as of now an asset for wealth, a safe haven for investors against inflation and unstable stock market.

I agree on your first point as a form of transaction towards goods and services it will take more time because trust matters here, In this digital age people are slowly moving on new era like transactions are happening in finger tip at the same time things will change in quick time like BTC will start dominating.

BTCs popularity will increase when commodities happen easily with BTC similarly gold, real estate etc. If this happens I am sure BTC will become a gem.

Did you all know that the bitcoin increased its popularity all over the world during this pandemic?  After the WHO announced that the virus can spread through fiat money. Online transaction are became the daily usage of many people. The current payment system is now changing and many people are excited to see that many businesses especially groceries will accept bitcoin as payment.

But not all country are open for this and only limited stores are accepting bitcoin as payment. In our country bitcoin can be use as payment method to pay your bills rather than payments for goods like groceries. If ever this way will spread in many places of different country ,i think bitcoin will become more useful this of pandemic on which the virus are continuously spreading until now.

[fullhdpixel]

Why don’t you just be making use of it in places where it’s being accepted? Maybe if you want to buy some furniture and stuffs like that for your home, you have overstock and they are accepting Bitcoin. If you want to buy computer gadgets and some things like that, we also have other websites and there is Purse where you can get lots of things through Amazon.

So don’t worry about restaurants that are not accepting Bitcoin, it has not reached to that level, when it does you will also be able to pay at restaurants with it. As time goes on some restaurants might open up websites so that you can pay for your meal upfront using Bitcoin before you arrive their restaurant.

[rodskee]

I think it's still to early for Bitcoin to be used as a form of transaction towards goods and services because in the end people will convert it to Fiat doing no benefit to Bitcoin at all.
I prefer Bitcoin as of now an asset for wealth, a safe haven for investors against inflation and unstable stock market.

I agree on your first point as a form of transaction towards goods and services it will take more time because trust matters here, In this digital age people are slowly moving on new era like transactions are happening in finger tip at the same time things will change in quick time like BTC will start dominating.

BTCs popularity will increase when commodities happen easily with BTC similarly gold, real estate etc. If this happens I am sure BTC will become a gem.

Did you all know that the bitcoin increased its popularity all over the world during this pandemic?  After the WHO announced that the virus can spread through fiat money. Online transaction are became the daily usage of many people. The current payment system is now changing and many people are excited to see that many businesses especially groceries will accept bitcoin as payment.

Digital money are being used since the pandemic virus arrived, but it's not only bitcoin
since there are lots of available digital money.
consumer can use to deal and transact for buying their foods and other needs.
Although bitcoin share portions of it.
But not that much, there are many businesses that continue to hold adopting this
payment process.

[chikading2016]

Buying  foods and groceries with bitcoin is maybe a dream in my country, because at this point of time we need to convert first the bitcoin to fiat before we can buy everything, i think bitcoin will be used as a direct payment in the near future but for now we need to convert it first before we can used it as payment for foods.

[tbterryboy]

Buying  foods and groceries with bitcoin is maybe a dream in my country, because at this point of time we need to convert first the bitcoin to fiat before we can buy everything, i think bitcoin will be used as a direct payment in the near future but for now we need to convert it first before we can used it as payment for foods.

That’s how it is in most places man, especially with countries that are still developing in some areas, because they are not ready for all these things. Just chill, it takes time and before you know it things will start coming in place. Even where I live, it’s the same. I hardly meet people that are interested in cryptocurrency, not to talk of being into it and investing, they just prefer to make use of cash. And when it comes to digital, most of them usually prefers PayPal, using their debit cards (MasterCard and Visa), or their mobile banking app. But I know for sure that with time they will get into it.

[The cure]

I'm sure many people in different counties want this to happen specially for those who already know about bitcoin,as it is today with viruses spreading it is better to limit our use of fiat to prevent us from getting infected. But I think it will be a long time before it finally happens or implemented.

[k@suy]

I'm sure many people in different counties want this to happen specially for those who already know about bitcoin,as it is today with viruses spreading it is better to limit our use of fiat to prevent us from getting infected. But I think it will be a long time before it finally happens or implemented.

I am also looking forward for this to happen. I have a lot of coins in my virtual wallet but I don't have time to convert it into fiat because it is worthless because even if I convert it into fiat, I can't go outside to buy food and other stuffs because here in my country we are in General Community Quarantine, and in General Community Quarantine those who are allowed to go outside are those who are working and for me who doesn't have work, were not allowed to go outside. So if buying food using bitcoins is allowed here, I can say that I will be one of those who will buy food using bitcoin.

[FlightyPouch]

There are exchanges here that let you accept bitcoin but receive it in fiat. People could just use their Php wallet so even if their customers pay them with Bitcoin and other crypto currencies accepted in their exchange, the merchants or the stores will accept it as a fiat. Is this still part of this matter?

[Axelseseclevz]

Bitcoin's popularity has been increasing ever since the bull market of 2017 took place. Even with the pandemic, prices have recovered to their original levels (near $10k) in just a matter of months. More people are accepting Bitcoin worldwide, albeit at a slow and steady pace. I've seen many sites out there in the online world which accepts Bitcoin for goods and services. But the number of businesses and merchants accepting it for food or groceries are quite limited. In the physical world, supermarkets and even fast foods haven't even adopted Bitcoin yet. Fiat is still the predominant type of currency in the mainstream world, for buying items that are required for one's survival.

Do you think that in the future it'll be possible to buy food or groceries with Bitcoin? I know that volatility is a huge issue for Bitcoin to be accepted as an alternative to traditional Fiat, but merchants and businesses could quickly convert Bitcoin to a stablecoin minimizing the risk of loss. What are your thoughts?

Nowadays that covid virus keep on spreading anywhere,it will be a good idea if malls and grocery store will accept bitcoin as payment in exchange of physical money because we all know that money is so dirty and very accessibe to viruses.

[stiffbud]

Bitcoin's popularity has been increasing ever since the bull market of 2017 took place. Even with the pandemic, prices have recovered to their original levels (near $10k) in just a matter of months. More people are accepting Bitcoin worldwide, albeit at a slow and steady pace. I've seen many sites out there in the online world which accepts Bitcoin for goods and services. But the number of businesses and merchants accepting it for food or groceries are quite limited. In the physical world, supermarkets and even fast foods haven't even adopted Bitcoin yet. Fiat is still the predominant type of currency in the mainstream world, for buying items that are required for one's survival.

Do you think that in the future it'll be possible to buy food or groceries with Bitcoin? I know that volatility is a huge issue for Bitcoin to be accepted as an alternative to traditional Fiat, but merchants and businesses could quickly convert Bitcoin to a stablecoin minimizing the risk of loss. What are your thoughts?

Nowadays that covid virus keep on spreading anywhere,it will be a good idea if malls and grocery store will accept bitcoin as payment in exchange of physical money because we all know that money is so dirty and very accessibe to viruses.

If They start accepting crypto payments then the currency that would be widely accepted will be Ethereum and not bitcoin because of the time in which the transaction will be completed. As on the shops and in the coffee houses we always want our transaction to be completed quickly to always maintain social distancing. The best method now to transact fast and be safe from COVID is definitely using cards which is the cheapest and most widely accepted method to pay.

[AjithBtc]

Buying food or groceries with cryptocurrencies weren't preferred by most of the people. Due to the pandemic prevailing around the globe there is increase in the use of cashless transaction. This has somehow encouraged the usage of bitcoin and few top listed altcoins on purchase of groceries, and now the acceptance level on groceries and store products were very limited. Maybe the future will get to see more stores accepting bitcoin.

[BuNga_cute]

Actually Satoshi Nakamoto's main goal was to create Bitcoin not as a digital asset, but as a currency used for payments. So I am very sure that
in the future many merchants will accept payments with Bitcoin, so that we will be able to buy food or groceries with Bitcoin. Make the pandemic
situation now to multiply financial transactions with Bitcoin, in addition to preventing the spread of the corona virus. Can promote Bitcoin as an
alternative to fiat.

[Twentyonepaylots]

Actually Satoshi Nakamoto's main goal was to create Bitcoin not as a digital asset, but as a currency used for payments.

But it is created inflationary so using it as a currency would not stick at it if it does not reach a stable price, now talking about stabilization do you think that bitcoin could possibly be stable at some point in time?
though termed currency, it became an inflationary asset due to its volatility. I think Satoshi knew it would come to this point, everything could have happened differently when he said it is a digital asset on the whitepaper.

Make the pandemic  situation now to multiply financial transactions with Bitcoin, in addition to preventing the spread of the corona virus. Can promote Bitcoin as an
alternative to fiat.

We can promote bitcoin as it can help during this time but people would choose what is more convenient and that is digital currencies. Not now for bitcoin I suppose.