what do you guys use bitcoin for?

[sandqueen]

Are you guys currently using bitcoin to make payments or making purchases with bitcoin? maybe for invest only? I'm just wondering if bitcoin  will recover from that tesla did.

[1714593670]

1714593670

[Welsh]

I'm not sure why there's a big fuss over the Tesla news. Its not that significant, and smells like improving their PR rather than anything substantial, or highlighting a flaw in Bitcoin. I've not seen any data which suggests Bitcoin is more detrimental to the environment than other industries. However, if anyone has some decent data then I'd be interested in reading it. We know that Bitcoin fundamentally needs high levels of processing power, especially when the block rewards/fees are so high. However, that means nothing to me, when you look at several other industries which produce high levels of coal or whatever.

I'd like to see a comparison to the amount of resources used by fiat currencies, as I don't think that will be low either especially with the amount of money that gets moved around.

Although, to get to your question the vast majority of people will be using Bitcoin as an investment, and will later cash out into fiat currencies. That's unfortunately how its being used currently. Although, its perfectly viable to use as a currency.

[blockman]

Are you guys currently using bitcoin to make payments or making purchases with bitcoin? maybe for invest only? I'm just wondering if bitcoin  will recover from that tesla did.

For the record, there are more brutal statements in the past than with that latest statement of Tesla/Elon towards bitcoin. If you go and check the obituary of bitcoin, it's been said many times as dead. (https://99bitcoins.com/bitcoin-obituaries/)
And unlike with the Tesla announcement, I don't find it discouraging because if they don't want it then so be it. Bitcoin has been resilient all of the time and you just have to move on and forget about that. I use both for bitcoin, for payments and as an asset and I've been enduring negative words in the market and learned that's how it is and you just get to used to it.

[Welsh]

And unlike with the Tesla announcement, I don't find it discouraging because if they don't want it then so be it. Bitcoin has been resilient all of the time and you just have to move on and forget about that. I use both for bitcoin, for payments and as an asset and I've been enduring negative words in the market and learned that's how it is and you just get to used to it.

The Tesla announcement actually probably gave hope that it will likely be implemented again once either the research shows that Bitcoin isn't more detrimental than other industries or more miners move to green energy, which if they are in Bitcoin for the long term seems beneficial to me since they'll want to keep the long term costs down.

[Kayum10029]

Are you guys currently using bitcoin to make payments or making purchases with bitcoin? maybe for invest only? I'm just wondering if bitcoin  will recover from that tesla did.

Why people care about Elon musk announcement or tweeted.? I don't care about Elon musk tweet because I am only trader and investor. I use only bitcoin as my trading platform and sometimes I invested in Bitcoin. Only few people are using cryptocurrencies as car tesla buying. So please be patient and wait for next update. Don't fear about elon musk's announcement.

[quocsi]

Are you guys currently using bitcoin to make payments or making purchases with bitcoin? maybe for invest only? I'm just wondering if bitcoin  will recover from that tesla did.

If you are really knowledgeable about Bitcoin then you will know the benefits of bitcoin. Bitcoin has extremely practical applications in life now and in the future. Currently, some businesses are analyzing and tending to want to pay in BTC to reduce costs and save time for their businesses. As for me, I use Bitcoin only to invest and earn. I buy Bitcoin waiting for high price to sell for profit or participate in bounty campaigns to get free coins.

[Bilgent]

Are you guys currently using bitcoin to make payments or making purchases with bitcoin? maybe for invest only? I'm just wondering if bitcoin  will recover from that tesla did.

Nowadays, I use Bitcoin for only investment purposes. I was really hyped after hearing about Tesla's starting to accept BTC payments. And I was thinking about it seriously. But things have changed really quickly and Tesla doesn't accept it anymore at least for now. 

[mk4]

1. Online payments (because no local merchants accept it yet)
2. As an investment: because it's obviously a better hold than the USD (in the long term)
3. For self sovereignty

[Kabul]

I only use bitcoin as an investment. In my country, laws do not accept bitcoin to be used like a currency. If you are caught using bitcoin to buy anything, you will be fined or jailed.

Even if we canuse bitcoin to purchase goods, i will never use it because it is insane to spend bitcoin when its price always go up

[masphie]

i am used bitcoin for invest, about recover from tesla i think bitcoin will do it. But it will take more time. Thats my assumption and maybe i am wrong, just wait and see.

[Darker45]

First and foremost, Bitcoin has survived all kinds of labelling, condemnation, criticisms, lack of support, hundreds of death declarations, and whatnots since day one, since the day it has only a handful of believers. Back in the day, Bitcoin was a lone voice in the wilderness. It has grown into a global currency since then. Do you seriously think a single man's tweet would bring it down?

Anyway, I'm limited to a few online payments with my Bitcoin. But no problem with me. Most of the time, I'm stacking up rather than letting go of my Bitcoin.

[blockman]

And unlike with the Tesla announcement, I don't find it discouraging because if they don't want it then so be it. Bitcoin has been resilient all of the time and you just have to move on and forget about that. I use both for bitcoin, for payments and as an asset and I've been enduring negative words in the market and learned that's how it is and you just get to used to it.

The Tesla announcement actually probably gave hope that it will likely be implemented again once either the research shows that Bitcoin isn't more detrimental than other industries or more miners move to green energy, which if they are in Bitcoin for the long term seems beneficial to me since they'll want to keep the long term costs down.

Just as Elon has changed his mind, I agree that there's a likelihood that it could also change again after doing further research with his team. I think that he won't mind reading and hearing the opinions of everyone why he didn't do their own research before investing in bitcoin and having those opinions sounds negative to him. In his new tweet, he said that he's a strong believer in crypto but he's just too concerned about energy. I saw Michael Saylor replied on that tweet of his.
(https://twitter.com/elonmusk/status/1392950720979030019)

[AniviaBtc]

I haven't used bitcoin before and i also want to know on where to spend it because some business still not adopting bitcoin.

It is really hard to utilize bitcoin especially that it is not that popular to use in some businesses.

Can someone give us an idea on where to spend bitcoin, like grocery? what company? and other details, I just wanted to have an idea about it.

[amishmanish]

I use bitcoin through bitrefill to buy up balances on some of the e-commerce websites that I regularly use for groceries, clothes etc. The premium on bitrefill prices though has gone up quite a lot in recent times.

I have also just converted a little to BTC on the Rootstock, (RBTC) to use it on a recent DeFi platform. It isn't offering much compared to those on Ethereum but hopefully this will pick up some pace in the times to come.

Last use for BTC is of course savings. I put a little amount regularly into an untouched stash. It is basically the fiat alternate saving mechanism which I hope will continue to beat inflation and normal returns, in the long run.

[indo1]

Tesla only suspends payments using bitcoin and seems to want to turn it into a doge. That means Elon Musk isn't completely out of cryptocurrency. Plus lately samsung is coming up with its new blockchain.

[Alucard1]

I use my bitcoin for different purposes, here they are:
- I am using it for my investment and sometimes do trading.
- I am also using it to convert into different altcoins that I am using for some blockchain games
- In gambling as well, there are some time when I feel bored and sometimes when my friend invited me to gamble
- Convert it into fiat currency so I can have the cash to buy some of my needs and wants.

[indo1]

Even if we canuse bitcoin to purchase goods, i will never use it because it is insane to spend bitcoin when its price always go up

Bitcoin is more suitable as a means of investment than a means of payment. It's not just about rising prices, transaction fees are also quite high. I think I can choose a coin that is cheap and fast to use transactions. That certainly does not hurt transaction fees compared to using bitcoin.

[MrcMrc]

Just a few online payments for me, since not a good number of merchants, have accepted bitcoin for payments, I mostly convert my bitcoin into fiat before using the can’t pay for things in retail shops.

[aceboy44]

I have used Bitcoin to refill my phone balance. To be honest it was more expensive for me to use BTC to recharge my phone than to pay with it by fiat currency, which was truly disappointing 

[GreatArkansas]

Are you guys currently using bitcoin to make payments or making purchases with bitcoin?
(....)

Both. Since here in our country, using Bitcoin for such payments-especially locally is not that so popular, so most of the uses of my Bitcoins are in online services or products such as online shopping (but this is not directly Bitcoin, It's just swapping your Bitcoin to our fiat and mark as paid the order directly).
Speaking of investment, somewhat like that too. Since I hodl most of my Bitcoin from 2017 and plan to hodl it for the long term.