What can Bitcoin afford to buy

[Onyeeze]

Many people are confused of Bitcoin and mostly mother's having double mindset of what bitcoin can buy. But i wasn't bias on the question because i know that Bitcoin is a digital currency and it can buy things for the country that approve it as a legal tender, and with Bitcoin profit you can buy things for shop's that accepts bitcoin for monetary transaction's. So i want to ask this question generally so that i will have more insight of what bitcoin can buy using Bitcoin without converting to fiat currency before making purchase.

[MusaMohamed]

Many people are confused of Bitcoin and mostly mother's having double mindset of what bitcoin can buy.

Bitcoin can not buy anything. Itself it can not. Must have an agreement between a buyer and a seller to use Bitcoin as a payment method for their deal.

But i wasn't bias on the question because i know that Bitcoin is a digital currency and it can buy things for the country that approve it as a legal tender, and with Bitcoin profit you can buy things for shop's that accepts bitcoin for monetary transaction's.

It is not a digital currency too.

Bitcoin is a mean or a payment method and you can exchange your Bitcoin with other people, exchange it with other things that can be a learning course, a bread or an altcoin. You can exchange it with fun only like lazlo exchange 10000 BTC for pizzas.

When more people use Bitcoin, its value increases and with one BTC, you can exchange for more things, more pizzas, bicycles, more Cokes.



Bitcoin is not deflation but yeah it is only a meme.

[mk4]

Mostly online services like VPN/proxies/etc. It's quite rare for online retailers to accept bitcoin as payment as of today so for now, we're stuck with bandage solutions such as BitPay, Coinbase Commerce, Purse.io, and such.

[Onyeeze]

Many people are confused of Bitcoin and mostly mother's having double mindset of what bitcoin can buy.

Bitcoin can not buy anything. Itself it can not. Must have an agreement between a buyer and a seller to use Bitcoin as a payment method for their deal.

***

It is not a digital currency too.

If bitcoin is not a digital currency what's Bitcoin, Bitcoin is a digital currency that's not centralized, Bitcoin is a decentralized currency and it's digital currency, if I'm wrong please educate me with proof.

[MusaMohamed]

If bitcoin is not a digital currency what's Bitcoin, Bitcoin is a digital currency that's not centralized, Bitcoin is a decentralized currency and it's digital currency

I can not understand it.

Bitcoin has its value because people use it and link it with fiat currencies. There is no Bitcoin standard like Gold standard in the past. With Gold standard, central banks fixed a price for gold. There is no fixed price for Bitcoin set by any governments or central banks.

Price of Bitcoin depends on bank currencies like their inflation can help Bitcoin price but you can not say the opposite. Purchasing power of bank currency depends on price of Bitcoin.

[AicecreaME]

I, myself still prefer to convert it first before buying something, whether it is online or not. For me buying using fiat is much safer and does have insurance rather than using Bitcoin to buy things online. The scenario that I am thinking is that you cannot reverse the transaction once it is done, and what if a certain store that accepts Bitcoin as a payment did a mistake like giving you a wrong address on an incomplete one, then you complaint about it but they say there is nothing they can do since it was an accident or something else, so you ended up wasting those Bitcoin for nothing, something like that.

[PrivacyG]

The most expensive thing you can buy using Bitcoin is likely a very expensive house or car somewhere around the world where there is a dealer or Real Estate Agency accepting Bitcoin payments.

You can buy about anything using Bitcoin long as you have the financial possibility to travel to a country where you can purchase the thing you want.

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Regards,
PrivacyG

[un_rank]

Bitcoin can not buy anything. Itself it can not. Must have an agreement between a buyer and a seller to use Bitcoin as a payment method for their deal.

Nothing can be used for purchases except there is an agreement between the buyer and seller. In trade, anything of value (gold, diamonds, a car, Bitcoin) can be exchanged for something else of value if both parties are in agreement with the trade.
The financial system is not static and you should not presume it to be. About a century ago, fiat as it is today did not exist.

It is not a digital currency too.
...

"A digital currency is a medium of exchange that is generated, stored and transferred electronically"^[1]
Bitcoin is precisely a digital currency.

[1] https://www.techtarget.com/whatis/definition/digital-currency

- Jay -

[rat03gopoh]

So i want to ask this question generally so that i will have more insight of what bitcoin can buy using Bitcoin without converting to fiat currency before making purchase.

In El Salvador, you can even buy a private island. In my country, you can't buy anything except local cash.

Given that the legality of bitcoin is not governed by a single rule, you should change the question, "is bitcoin legal for payment in your country?". Everyone's answers will represent the legal conditions of their respective countries. If it were legalized, then it wouldn't restrict you from buying anything if you were in that country.

[mk4]

Price of Bitcoin depends on bank currencies like their inflation can help Bitcoin price but you can not say the opposite. Purchasing power of bank currency depends on price of Bitcoin.

Announcements concerning inflation affects markets in general, because well — apparently that's how markets work. That doesn't make bitcoin any less good.

[Darker45]

Many people are confused of Bitcoin and mostly mother's having double mindset of what bitcoin can buy.

Bitcoin can not buy anything. Itself it can not. Must have an agreement between a buyer and a seller to use Bitcoin as a payment method for their deal.

***

It is not a digital currency too.

If bitcoin is not a digital currency what's Bitcoin, Bitcoin is a digital currency that's not centralized, Bitcoin is a decentralized currency and it's digital currency, if I'm wrong please educate me with proof.

Bitcoin is a digital currency. It is digital and it is a currency.

Bitcoin is money, so it can buy you things. However, it is not widely accepted as such. So depending on where you are, it is possible that you cannot spend your Bitcoin in an actual store or shop. Online, it is easier, but still your favorite online shop, especially local, might not be accepting it.

I wonder where you're from, but if you really wish to spend Bitcoin in an actual transaction and you have a Bitcoin community there, you could agree among yourselves to transact with Bitcoin.

[Onyeeze]

Many people are confused of Bitcoin and mostly mother's having double mindset of what bitcoin can buy.

Bitcoin can not buy anything. Itself it can not. Must have an agreement between a buyer and a seller to use Bitcoin as a payment method for their deal.

***

It is not a digital currency too.

If bitcoin is not a digital currency what's Bitcoin, Bitcoin is a digital currency that's not centralized, Bitcoin is a decentralized currency and it's digital currency, if I'm wrong please educate me with proof.

Bitcoin is a digital currency. It is digital and it is a currency.

Bitcoin is money, so it can buy you things. However, it is not widely accepted as such. So depending on where you are, it is possible that you cannot spend your Bitcoin in an actual store or shop. Online, it is easier, but still your favorite online shop, especially local, might not be accepting it.

I wonder where you're from, but if you really wish to spend Bitcoin in an actual transaction and you have a Bitcoin community there, you could agree among yourselves to transact with Bitcoin.

That's what i want here, Bitcoin can be use base your agreement with the individual, some countries might not agree to accept Bitcoin as a legal tender but with negotiations you can buy something with Bitcoin. I'm surprised seeing somebody saying that Bitcoin is not a digital currency, and i have seen that it has belong it has being with the forum, i was confused about that.

[Outhue]

Mostly online services like VPN/proxies/etc. It's quite rare for online retailers to accept bitcoin as payment as of today so for now, we're stuck with bandage solutions such as BitPay, Coinbase Commerce, Purse.io, and such.

Exactly, this is why I don't bother to invest in any crypto payment solution that plans to build bridges between every other retailers, for example, 8pay and shopping io, I believe they will never work, we need to see big companies like Amazon and Alibaba accepting Bitcoin directly, without the need of going through another payment solution like Pay Pal, it sucks. I just want to buy a car paying with Bitcoin or buy many other things paying with Bitcoin directly, we still have a long way to go mehn.

[Darker45]

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Bitcoin is a digital currency. It is digital and it is a currency.

Bitcoin is money, so it can buy you things. However, it is not widely accepted as such. So depending on where you are, it is possible that you cannot spend your Bitcoin in an actual store or shop. Online, it is easier, but still your favorite online shop, especially local, might not be accepting it.

I wonder where you're from, but if you really wish to spend Bitcoin in an actual transaction and you have a Bitcoin community there, you could agree among yourselves to transact with Bitcoin.

That's what i want here, Bitcoin can be use base your agreement with the individual, some countries might not agree to accept Bitcoin as a legal tender but with negotiations you can buy something with Bitcoin. I'm surprised seeing somebody saying that Bitcoin is not a digital currency, and i have seen that it has belong it has being with the forum, i was confused about that.

Bitcoin is being treated differently, and subjectively at that I'd say, but I don't think it is fair to dismiss it as a digital currency. Admittedly, it is not widely used as a currency, but it doesn't mean it isn't a currency. As a matter of fact, even if there isn't a single store or shop that accept it as a currency, and you can only make use of it as such in this forum, it is still a digital currency. Or even if it isn't used by anybody at all as a digital currency, if Satoshi designed and created it as a digital currency, it must be a digital currency.

[xSkylarx]

You can buy foods, items, and expensive products online as there are websites accepting bitcoin as their payment method. I'm not sure where you live, but if it isn't banned in your country for sure, there are shops there that accept bitcoin as payment. You just need to find them, but mostly you can find products online, which is like when you are buying using your fiat. As time goes by, I've seen a lot of services that also accept bitcoin, like taxis, salons, etc., so for sure, in the future, you can see it anywhere you go.

[HajiBagi]

I, myself still prefer to convert it first before buying something, whether it is online or not. For me buying using fiat is much safer and does have insurance rather than using Bitcoin to buy things online. The scenario that I am thinking is that you cannot reverse the transaction once it is done, and what if a certain store that accepts Bitcoin as a payment did a mistake like giving you a wrong address on an incomplete one, then you complaint about it but they say there is nothing they can do since it was an accident or something else, so you ended up wasting those Bitcoin for nothing, something like that.

I agree with you, converting it first before buying something is the best way, because no one wants to lose his or her bitcoin by sending it to the wrong address and not being able to do anything about it or refund it back, although some people are buying things with bitcoin and I'm sure they will check the address correctly and make sure it's good, but most are online and they are very expensive things like cars and other expensive stuff.

[TheUltraElite]

Bitcoin is a payment option if the buyer/seller would accept it.

But majority of people don't accept it yet. Hence you will find it difficult to pay directly but you can pay through gift cards. The cost of things in Bitcoin will be dynamic with a fiat currency as the base. But this is difficult to say at this point whether this will be done in future.

The best option for you at this point will be to buy gift cards. Wait for your local government to be more lenient regarding bitcoin.

[Aanuoluwatofunmi]

Many people are confused of Bitcoin and mostly mother's having double mindset of what bitcoin can buy.

If it's legal in your country to use bitcoin and perform it transaction then you have no reason to doubt about how you can engage spending it when you can easily buy items and make shoppings online directly from companies accepting bitcoin or make a p2p exchange of it to fiat and make your shoppings in areas where it's not adopted yet.

But i wasn't bias on the question because i know that Bitcoin is a digital currency and it can buy things for the country that approve it as a legal tender

You don't need to go to El-Savador or Central African Republic where bitcoin is a legal tender before you can enjoy making payments with bitcoin, there are many organizations and companies even enterprises that accept bitcoin for the exchange of goods and services, as long as bitcoin is allowed being legal for making payments and not until they accept it as a legal tender.

So i want to ask this question generally so that i will have more insight of what bitcoin can buy using Bitcoin without converting to fiat currency before making purchase.

There are many organizations, hotels, online malls, businesses and individuals enterprise that accept bitcoin for payment, all you need is to locate one or ask for preferable options you can use in making payments, they may include bitcoin, if not then you can as well request making payments with bitcoin.

[shanz]

More stores and companies now accept bitcoin as payment, but some still don't. You can use bitcoin to buy things like electronics, luxury jewelry and watches, and even cars (Tesla) or NFT and more... However you can't buy a house with it. Real estate companies are not accepting this payment option yet (except if you buy it directly from an individual)

[maydna]

Bitcoins can buy many things, and as long as the store provides bitcoin payments, they can buy anything they want. But that will depend on each shop because many shop owners still don't know bitcoin as a payment alternative besides using fiat or something else. And if there aren't many shops that provide payments using bitcoins, you have to convert your bitcoins to fiat currency first, and then you can shop at any store. And this can help you not to use bitcoin as a payment but as an investment tool for your future.