Bought my vitamins with Bitcoin

[cheezcarls]

For several years, I have been maintaining my overall well-being by taking US-made vitamins with the same brand since late 2013. I usually order them both offline and online, either paying it through cash, bank transfer or debit card. Until now, I am still a proud user of it. It really helped managed my anxiety and panic attack symptoms, as well as better sleep quality, extra stamina during the day, better metabolism, etc.

But I stopped ordering online for 2 years. In order to save me some shipping fees, I have decided to order it from a good friend who is a licensed distributor of the vitamins product.

One day, I realized that my stocks are almost running out. So I called him to meet me to get my vitamins. My friend already have a Bitcoin wallet, but never really used it. So I asked him if he liked to be paid by Bitcoin this time, and he eventually said yes.

So I just scanned his QR code and paid him the amount (there was zero fee because of using the same wallet). And there you have it, my first Bitcoin peer to peer transaction with my friend for the vitamins.

My good friend is happy, and he doesn’t mind me to use Bitcoin again to transact with him. I don’t mind how long will BTC be massively adopted, at least it’s good to spread awareness and advocacy about it.

[Charles-Tim]

So I just scanned his QR code and paid him the amount (there was zero fee because of using the same wallet). And there you have it, my first Bitcoin peer to peer transaction with my friend for the vitamins.

I really like your idea by paying for goods using bitcoin, also the seller (your friend) will be so happy because the amount would have appreciated by now. But commentimg the transaction fee is free can be misleading. Making use of noncustododial wallet will demand for transaction fee even if you and the seller is using the same type of wallet, the fee is an amount paid to miners to make the transaction to get confirmed. But, making use of custodial wallet in which you are sending the bitcoin to someone using the same type of custodial wallet, very possible the transfer is free, because you only send a number from your account to another user, no miner is involved, and this depends on the custodial wallet you are using, some might still even demand for fee, but which may be very low if compared to number fee paid to miners during transaction.

I will not recommend people to make use of custodial service if they want to have privacy, they should go for noncustodial wallet. If thinking the fee that will be paid is too high because of high amount of fee for bitcoin transaction, he can try and manipulate with bitcoin lightning network for low fee. Bluewallet and electrum are both recommended as lightning wallet.

[Sihab76]

This is a very interesting topic, but in countries where Bitcoin is directly or indirectly approved by the government and their central bank, only all types of products can be bought by Bitcoin cryptocurrency.  Cryptocurrency is completely illegal in our country so we can't buy our daily necessities through bitcoin

[Lorence.xD]

This is a very interesting topic, but in countries where Bitcoin is directly or indirectly approved by the government and their central bank, only all types of products can be bought by Bitcoin cryptocurrency.  Cryptocurrency is completely illegal in our country so we can't buy our daily necessities through bitcoin

I feel bad for you but at the very least you can still use it right? In my country, it is still unregulated so I wouldn't really worry that much and bitcoin itself is the one that is being sold rather than being used as a currency here. I hope that your country will come to terms with bitcoin and have them accept it.

[cheezcarls]

So I just scanned his QR code and paid him the amount (there was zero fee because of using the same wallet). And there you have it, my first Bitcoin peer to peer transaction with my friend for the vitamins.

I really like your idea by paying for goods using bitcoin, also the seller (your friend) will be so happy because the amount would have appreciated by now. But commentimg the transaction fee is free can be misleading. Making use of noncustododial wallet will demand for transaction fee even if you and the seller is using the same type of wallet, the fee is an amount paid to miners to make the transaction to get confirmed. But, making use of custodial wallet in which you are sending the bitcoin to someone using the same type of custodial wallet, very possible the transfer is free, because you only send a number from your account to another user, no miner is involved, and this depends on the custodial wallet you are using, some might still even demand for fee, but which may be very low if compared to number fee paid to miners during transaction.

I will not recommend people to make use of custodial service if they want to have privacy, they should go for noncustodial wallet. If thinking the fee that will be paid is too high because of high amount of fee for bitcoin transaction, he can try and manipulate with bitcoin lightning network for low fee. Bluewallet and electrum are both recommended as lightning wallet.

No fees at all because we are using the same custodial wallet that is regulated by the central bank and the government. Unless if we are using a decentralized wallet, or I use a different wallet than his, of course there are transaction fees in play. I hope this clears up for you mate.

[Charles-Tim]

I feel bad for you but at the very least you can still use it right? In my country, it is still unregulated so I wouldn't really worry that much and bitcoin itself is the one that is being sold rather than being used as a currency here. I hope that your country will come to terms with bitcoin and have them accept it.

Cryptocurrencies generally can be banned in many countries, but that does not necessarily means at times that citizens of such countries are not using it. Why is it banned in China, but 65% of newly mined bitcoin are mined in China? That even means Chinese are making use of cryptocurrencies. Nigeria CBN banned cryptocurrencies this year, but that does not stop their citizens not to use cryptocurrencies when p2p exchange is possible.

[dihari]

Next time, after massive adoption of bitcoin, you will find a bitcoin qr code in many drugstores in the city. Very interesting story.

By the way.. may I know what exactly the name of vitamin that you consume? I think I need that kind of vitamin for my anxiety problem. Thank you

[elda34b]

No fees at all because we are using the same custodial wallet that is regulated by the central bank and the government. Unless if we are using a decentralized wallet, or I use a different wallet than his, of course there are transaction fees in play. I hope this clears up for you mate.

So you store your money on an exchange? I don't think that's a good idea. Unless you're fine with the risk and not store a lot of money, since centralized entity is prone to hack.

If your friend is new to Bitcoin, I think you should tell him about this.

[Twinkledoe]

No fees at all because we are using the same custodial wallet that is regulated by the central bank and the government. Unless if we are using a decentralized wallet, or I use a different wallet than his, of course there are transaction fees in play. I hope this clears up for you mate.

So you store your money on an exchange? I don't think that's a good idea. Unless you're fine with the risk and not store a lot of money, since centralized entity is prone to hack.

If your friend is new to Bitcoin, I think you should tell him about this.

I believe, if you are just storing small amount just for possible everyday expenses, that's fine. It comes in handy if it is in the custodial wallet. But definitely, if you have large amounts, better store it in your own wallet that you have full control. In the next coming years, there will be more of this if we want real adoption. Maybe, even convenience stores will have their QR codes if you want to pay in crypto.

[nightxglow]

Oh, i thought you're using it as payment in a shop, but instead it's payment to a friend huh? But well that's good enough as well, you're making more people involved in this cryptocurrency world, and who knows your friend might go deeper in cryptocurrency as well.
I guess paying with bitcoin is nice enough as long as the fee is zero, since all this time i've only seen a lot of people complaining about bitcoin fee that is too high! sometimes it doesn't make any sense and make people don't want to use it. I hope the fee can be lower so more people will use bitcoin in the future though.

[cydrix]

I wish I could buy good with BITCOIN  nowadays many have accepted BITCOIN as their currency but not various of stores accept it because in my country like ours you can't buy goods with bitcoin there are some few but it is almost near to impossible to have this kind of service so lucky for you man.

[stompix]

But, making use of custodial wallet in which you are sending the bitcoin to someone using the same type of custodial wallet, very possible the transfer is free, because you only send a number from your account to another user, no miner is involved,

Yeah, the wrong part was not really about the fee but about it being p2p, it was more like a Paypal transaction than a decentralized p2p payment.
Even if it's between two different wallets and it is a real blockchain transaction as long as there is a payment gateway between like coinbase or bitpay it shouldn't be counted as p2p.

But, sincerely, I think that at least in the near future those types of transactions would far outweigh real on-chain ones, just looking at the fees it makes them really impracticable, I don't know how much those vitamins cost as I know their price can range from a few $ to a few hundred but still a 5-10$ is a bit of turn-off. Eh, in the end at least it did involve bitcoin, every day I feel like there are just so few people using it to sell and buy stuff.

No fees at all because we are using the same custodial wallet that is regulated by the central bank and the government.

I assume you mean the company that controls the wallet is authorized by the government.
Just to clear things up, you used coins.ph maybe?

[Lorence.xD]

I feel bad for you but at the very least you can still use it right? In my country, it is still unregulated so I wouldn't really worry that much and bitcoin itself is the one that is being sold rather than being used as a currency here. I hope that your country will come to terms with bitcoin and have them accept it.

Cryptocurrencies generally can be banned in many countries, but that does not necessarily means at times that citizens of such countries are not using it. Why is it banned in China, but 65% of newly mined bitcoin are mined in China? That even means Chinese are making use of cryptocurrencies. Nigeria CBN banned cryptocurrencies this year, but that does not stop their citizens not to use cryptocurrencies when p2p exchange is possible.

The problem with that though is that the citizen still doesn't have a complete freedom to use bitcoin because if the government were to strike down on them, they are probably going to be taken down. What I want is complete freedom, not that kind of thing where bitcoin is banned but someone can still use it, at legal standpoint someone can use those things against you.

[kryptqnick]

It's great that your friend was open-minded about the payment in BTC, and that you managed to use Bitcoin as money for goods in this situation. I do have a follow-up question: what do you mean there were no fees because it was the same wallet? You literally didn't pay any transaction fee? Was it some sort of off-chain solution or something? Or do you mean there was no additional fee, apart from what you had to pay for this transaction? I'm just a little confused about the way it's formulated in the post and what it actually means.
I can see that you replied about it being a custodial and not decentralized wallet, but can you provide more details on how this works and what company offers this?

[Poker Player]

Yeah, the wrong part was not really about the fee but about it being p2p, it was more like a Paypal transaction than a decentralized p2p payment.
Even if it's between two different wallets and it is a real blockchain transaction as long as there is a payment gateway between like coinbase or bitpay it shouldn't be counted as p2p.

But, sincerely, I think that at least in the near future those types of transactions would far outweigh real on-chain ones, just looking at the fees it makes them really impracticable, I don't know how much those vitamins cost as I know their price can range from a few $ to a few hundred but still a 5-10$ is a bit of turn-off. Eh, in the end at least it did involve bitcoin, every day I feel like there are just so few people using it to sell and buy stuff.

That's what I thought when I read the thread. Let's see if he had paid $15 in fees to buy $50 worth of vitamins.

I'm not exactly thrilled with the OP's story either. At the moment Bitcoin is succeeding as a store of value and we will see if in the future it becomes a means of payment, either by LN or by this type of transactions. But if the Bitcoin is the best store of value in the world, which does not stop appreciating, giving the best returns, the most sensible thing to do is to keep it and not spend it. Spend worthless fiat instead.

I am not criticizing the OP for this, I too have made small transactions as the price of Bitcoin has been rising, but I am referring to the fact that I see it difficult for it to become a means of payment if it is such a good store of value, at least in the near future.

[MrcMrc]

You are lucky to be living in a country where bitcoin is unregulated and the use of a custodial bitcoin wallet is encouraged, this solves the problem of fees which is why so many bitcoin users avoid using it to pay for retail goods, non-custodial wallet charges high fees for peer-to-peer transaction no matter how small the amount.

Unless you will use the bitcoin lightning network for transactions to avoid being charged high fees, but using a lightning network requires some level of technicalities.

[acener]

For several years, I have been maintaining my overall well-being by taking US-made vitamins with the same brand since late 2013. I usually order them both offline and online, either paying it through cash, bank transfer or debit card. Until now, I am still a proud user of it. It really helped managed my anxiety and panic attack symptoms, as well as better sleep quality, extra stamina during the day, better metabolism, etc.

But I stopped ordering online for 2 years. In order to save me some shipping fees, I have decided to order it from a good friend who is a licensed distributor of the vitamins product.

One day, I realized that my stocks are almost running out. So I called him to meet me to get my vitamins. My friend already have a Bitcoin wallet, but never really used it. So I asked him if he liked to be paid by Bitcoin this time, and he eventually said yes.

So I just scanned his QR code and paid him the amount (there was zero fee because of using the same wallet). And there you have it, my first Bitcoin peer to peer transaction with my friend for the vitamins.

My good friend is happy, and he doesn’t mind me to use Bitcoin again to transact with him. I don’t mind how long will BTC be massively adopted, at least it’s good to spread awareness and advocacy about it.

Well we could really use Bitcoin as a money but the problem is only few would accept it,
You are lucky that your friend accepts crypto and you could now buy your Vitamins with it,
I hope I could also see a seller near me who would also accept crypto or maybe I would be the first in my area to promote it.

[Ultegra134]

It's an interesting position that you can actually spend your BTC locally, I've never encountered this here to be honest. However, I wouldn't use them anymore, due to its high value, I'm sort of comparing it with a valuable asset like gold. Furthermore, I actually kind of regret spending Bitcoin as a form of payment in the past.

[bitzizzix]

It's an interesting position that you can actually spend your BTC locally, I've never encountered this here to be honest. However, I wouldn't use them anymore, due to its high value, I'm sort of comparing it with a valuable asset like gold. Furthermore, I actually kind of regret spending Bitcoin as a form of payment in the past.

In my opinion, as long as I can make purchases using fiat, why should I use bitcoin which is actually much more profitable as a very valuable asset which in my opinion exceeds gold at this time.
and other reasons in the country where I live, bitcoin can only be used as an asset or investment and is not allowed or not available as an alternative payment method, except for conducting transactions in secret.
and I will only use bitcoin as a transaction if it is legal and available in shops and others in the country where I live.
and for now it will only benefit those who sell bitcoin using bitcoin and of course those who receive it will save it for resale when the price goes up.

[Spaffin]

It's an interesting position that you can actually spend your BTC locally, I've never encountered this here to be honest. However, I wouldn't use them anymore, due to its high value, I'm sort of comparing it with a valuable asset like gold. Furthermore, I actually kind of regret spending Bitcoin as a form of payment in the past.

In my opinion, as long as I can make purchases using fiat, why should I use bitcoin which is actually much more profitable as a very valuable asset which in my opinion exceeds gold at this time.
and other reasons in the country where I live, bitcoin can only be used as an asset or investment and is not allowed or not available as an alternative payment method, except for conducting transactions in secret.
and I will only use bitcoin as a transaction if it is legal and available in shops and others in the country where I live.
and for now it will only benefit those who sell bitcoin using bitcoin and of course those who receive it will save it for resale when the price goes up.

actually at this stage I was also against the use of Bitcoin as a means of payment. Today Bitcoin is a good and valuable asset that will bring huge profits in the future. Based on this, Bitcoin needs to be stored until the time when its price rises and stabilizes, and when it can be used without loss as a reliable storage for their savings, as well as a means of payment.
But I believe that this moment will have to wait long enough, because some analysts predicted that the price of Bitcoin will reach a maximum and stabilize only when its capitalization increases by about 15 times.