Do you feel bad while paying with BTC?

[romero121]

The innovation came from Satoshi to fullfill what is missing with the fiat system. This means the core was to use it as a medium of transaction. For some reason the growth of bitcoin made people prioritise it more as an investment than a medium of payment. It is true, if Laszlo Hanyecz hadn't made that decision even now the price of bitcoin might've not reached this level. Unlike the market price and growth it is necessary to spend bitcoin as well as use it for payment.

After certain level of growth the value might get stagnant. By that time people will give importance to it as a medium of transaction. Until then the usage as investment can be seen much among the common people.

[1714893892]

1714893892

[Ayers]

bitcoin is not suitable to be used as a means of payment like fiat, bitcoin is more suitable to be used as an asset.
if you make bitcoin as a means of payment when will you get the benefits, if in my country someone wants to accept bitcoin as a means of payment I will not do it.

Why do you say bitcoin is not suitable for use as a means of payment? Can you give a few reasons? Don't forget that bitcoin was designed by Satoshi to be used as a means of payment without a 3rd party, he did not intend to create bitcoin as an asset and for trading as it is today. All that is happening is because we made it an asset, an investment, not the original purpose of bitcoin. There's no denying that bitcoin is seen as more of an investment, but there's nothing wrong with someone using it to replace fiat as a payment method.

[Marvell1]

~snip~

I don't think Bitcoin will ever "stabilize", especially when the world is still tied to the "Fiat Standard". Everything is valued in Fiat currencies these days. For volatility to stop, Bitcoin needs to replace Fiat as the standard unit of account. In other words, this means valuing things in BTC terms (not Fiat). But that can never be achieved when most people consider Bitcoin as a long-term investment instead of a currency. You're free to use Bitcoin the way you want to, thanks to the way it was designed (decentralized and censorship-resistant).

With real use cases growing by the day, it should only be a matter of time before the cryptocurrency becomes a "force to reckon with". Maybe we'll see more merchants and businesses accepting it as payment method in the future? Just my thoughts

Bitcoin will not be as stable as fiat money, but you can also see its volatility decrease as it gets bigger. I mean, when bitcoin becomes popular, and the market cap becomes as big as gold, maybe even more than the gold market, bitcoin will be less volatile like gold is now, and the returns will also dwindle. It's not what I want, but it will happen.

~snip~

A significant decrease in volatility will most likely provoke the outlet of the players who were here for quick profit and they were not interested in anything more, except that. At the same time, it will make bitcoin more attractive as a payment tool, for everyone who is now doubting and simply holds bitcoin, because they want to make a profit in the bull market.

For this reason, many new or long-time investors have started to turn to altcoins instead of investing in bitcoin. Bitcoin cannot be highly volatile forever, once it gets bigger, the volatility will definitely decrease significantly. For investors, if volatility drops, it will be a sad thing, but conversely, for those who use it for payments, it is something they are looking forward to.

[ancafe]

Hello everyone!
Recently I was thinking about BTC payments and I believe that the system is moving towards bitcoin adoption and paying with bitcoin. And it's great!

Please explain where you live and only after that will we know how far the payment system using bitcoin will develop where you live. Many countries still refuse to accept payments using bitcoins because there are many issues that must be obeyed.

Unless you buy goods from online sites that accept payments using bitcoins, in some countries this system is also not widespread and there are still quite a number of products that do not accept payments using bitcoins, especially in the country where I live.

But the problem for me is that anytime I think about paying with BTC I feel somehow uncomfortable. I always remember the guy who spent 30+ bitcoins on pizza and now these bitcoins are worth a fortune. Like I don't want to be this guy and pay with an asset that WILL go up in price. It feels like you paying more for the product from a future perspective.

If you feel uncomfortable, then don't use bitcoin as a transaction tool, just exchange it for fiat according to your needs to buy the product you want. For that you don't need to invest all the money you have in bitcoin, because when you need fiat you don't need to sell bitcoin or buy certain products using direct payment with bitcoin.

I prefer to buy things using fiat currency, because using bitcoin is very detrimental when the price goes up and our assets decrease because we have sold some or in other words converted to fiat when buying something.

[Abiky]

Fiat currencies are highly subject to inflation, so with time your savings to depreciate, this is a losing strategy, and in the case of bitcoin, the opposite is true. Whoever is able to understand this now will have a good advantage in the future.

The deflationary nature of Bitcoin makes it more suitable as a store of value than a real currency for the payment of goods and/or services. That is if you still measure Bitcoin's value in Fiat terms. But if you use BTC regardless of market prices, then it wouldn't matter. I really hope the day comes when BTC is used as the world's standard unit of account (not Fiat). Only then, "hyperbitcoinization" will become a reality.

Unfortunately, that won't be the case in the future since most people consider Bitcoin as an investment (not a currency). I'm fine with that as long as Bitcoin does the job it's supposed to (bringing banking to the unbanked and true financial freedom). With CBDCs right around the corner, we should expect BTC to grow bigger in the future. Maybe it will live alongside Fiat currencies for generations? Just my thoughts

[ChiBitCTy]

30+ Bitcoins? who's him? I think you're refer to Laszlo Hanyecz where he spend 10,000 Bitcoins for 2 pizza and he was not disappointed for doing it, so why you should care with it?

It's your choice if you want to pay with BTC or not, but I believe there's a time where you will convert your Bitcoin to cash because you will need that money in the future, you can't just hold it and not enjoy what you've accumulated so long.

All in all he actually spent over 30,000 bitcoins as he did a couple deals like his infamous 10,000 bitcoin for pizza trade that was the first ever bitcoin for goods transaction.

OP- I understand what you’re saying and where you’re coming from, but I think it’s also important to understand that bitcoin is first for foremost designed to be digital cash, meant to pay for things. I personally believe that it’s important that bitcoin be used as a means of currency as that gives it more value, legitimate utility.

So personally I feel no different spending it or traditional fiat.

[serjent05]

OP- I understand what you’re saying and where you’re coming from, but I think it’s also important to understand that bitcoin is first for foremost designed to be digital cash, meant to pay for things. I personally believe that it’s important that bitcoin be used as a means of currency as that gives it more value, legitimate utility.

I agree Bitcoin should be used for payment in order to establish and make its economy strong.  If Bitcoin isn't used as it is intended to be, then the foundation of Bitcoin will be weak and will always be a subject of manipulation and speculation. 

So personally I feel no different spending it or traditional fiat.

Same here since I also look at Bitcoin as a mode of payment.  Besides it is my own little way of supporting the Bitcoin economy.  Use Bitcoin as payment so that merchants will continuously use it as an option to pay for their goods and encourage more merchant adoption.

[Tony116]

OP- I understand what you’re saying and where you’re coming from, but I think it’s also important to understand that bitcoin is first for foremost designed to be digital cash, meant to pay for things. I personally believe that it’s important that bitcoin be used as a means of currency as that gives it more value, legitimate utility.

I agree Bitcoin should be used for payment in order to establish and make its economy strong.  If Bitcoin isn't used as it is intended to be, then the foundation of Bitcoin will be weak and will always be a subject of manipulation and speculation. 

It is true that bitcoin was created by Satoshi to be a currency, a method of payment, but people are entering the market because they see bitcoin as an investment, an asset to get rich. My question is, how many people advocate using bitcoin as a payment method when its volatility is so great? I don't think anyone is brave enough to buy bitcoin for $50k and use it to pay when it's $15k. It is easy to say, but encouraging people to use bitcoin instead of Fiat is extremely difficult.

So personally I feel no different spending it or traditional fiat.

Same here since I also look at Bitcoin as a mode of payment.  Besides it is my own little way of supporting the Bitcoin economy.  Use Bitcoin as payment so that merchants will continuously use it as an option to pay for their goods and encourage more merchant adoption.

I'm not against someone using bitcoin for payment because that's what it was created for, but there's also nothing wrong with people using it as an investment. Moreover, I believe that if bitcoin becomes stable, how many people will use bitcoin for payment? Because 99% of people are here for profit.

[DJANAS]

For me Yes, i feel bad everytime i spend crypto 

[nurilham]

bitcoin is not suitable to be used as a means of payment like fiat, bitcoin is more suitable to be used as an asset.
if you make bitcoin as a means of payment when will you get the benefits, if in my country someone wants to accept bitcoin as a means of payment I will not do it.

You must know that Satoshi created Bitcoin as an electronic cash. It means Bitcoin is ideally to be used as a payment tool, the main function shouldn't be a digital asset. But, since Bitcoin price always grows constantly, people use Bitcoin as their digital assets. It makes people expect Bitcoin will have a higher and higher value in the future, they don't care whether it can be used as a payment tool or not in the future. People tend to focus on gaining profits from Bitcoin investments, they forget that they should help Satoshi to adopt Bitcoin as a digital payment tool, too.

Please check again Bitcoin WP: https://bitcoin.org/bitcoin.pdf

[mejarm]

What bothers you so much that you're uncomfortable paying with Bitcoin and want to consider paying with fiat instead?
Why should you consider the past? Actually, it never happens to you. If you're not truly ready to accept Bitcoin as a form of payment, then don't force yourself to. I believe you are considering what would happen if the price of bitcoin increased when you were already using it. If you want to make things simple for yourself, decide to utilize money and reserve your bitcoins solely for investing purposes.

[Obari]

Like I don't want to be this guy and pay with an asset that WILL go up in price. It feels like you paying more for the product from a future perspective.

What are your thoughts about this? Personally, I usually try to buy with stablecoins if I have some, it just feels more natural for me. I don't want to touch my BTC while the market is still bad.

Well I'm sorry to say but I think you're already getting a very wrong conception  of savings and investment.
You shouldn't  be scared of using your savings as long there was a tangible  need to do so.
The major concept behind  bitcoin investment  and cryptocurrency in general is buying low and selling  high especially  one feels ok with their profits and that is why it is always expected  to be very smart and proactive  while investing in  bitcoin because it is a very volatile  asset and people make  profits from the losses of others and that's why we ought to choose our sides wisely  as nonone will be held responsible  for our decisions.
So op you shouldn't  feel bad while trying to make payments  for purchase using bitcoin  because it is digital currency  and supoosed to be spent especially  if there is a profit on it.

[xSkylarx]

bitcoin is not suitable to be used as a means of payment like fiat, bitcoin is more suitable to be used as an asset.
if you make bitcoin as a means of payment when will you get the benefits, if in my country someone wants to accept bitcoin as a means of payment I will not do it.

Why do you say bitcoin is not suitable for use as a means of payment? Can you give a few reasons? Don't forget that bitcoin was designed by Satoshi to be used as a means of payment without a 3rd party, he did not intend to create bitcoin as an asset and for trading as it is today. All that is happening is because we made it an asset, an investment, not the original purpose of bitcoin. There's no denying that bitcoin is seen as more of an investment, but there's nothing wrong with someone using it to replace fiat as a payment method.

Most of the people right now see bitcoin as an investment even those new one that asking help on me about bitcoin which first i do always say to them that it was used for transaction but sometimes they always insist that it was for investment. Well we cant blame them as the price right now is huge and anyone of us wants it but having regretting spending it the for sure your mindset is only getting profit out of it and not known the true purpose of bitcoin

[kotajikikox]

Hello everyone!
Recently I was thinking about BTC payments and I believe that the system is moving towards bitcoin adoption and paying with bitcoin. And it's great!

means one thing here , that your country has large adoption of Bitcoin that is why there are
companies that accepts bitcoin as payment ? then mate take this opportunity as you are very lucky to be in that country and government.

But the problem for me is that anytime I think about paying with BTC I feel somehow uncomfortable. I always remember the guy who spent 30+ bitcoins on pizza and now these bitcoins are worth a fortune. Like I don't want to be this guy and pay with an asset that WILL go up in price. It feels like you paying more for the product from a future perspective.

then with these behavior mate?

I believe that you do not understand the true essence of bitcoin and hot this works, for the price to continue growing , we must use this at least for healthy movement.
how will others believe in this if all of us will just hold it?

What are your thoughts about this? Personally, I usually try to buy with stablecoins if I have some, it just feels more natural for me. I don't want to touch my BTC while the market is still bad.

what is the difference of stable coin than bitcoin ? because the price is not moving up or down? then lets discuss this.

What if you bought bitcoin now  at 10k usd, and did not use for the day and the price pumped? before needing to pay in online payments? what would you feel?

and same thing if you bought Stable coin now and you need nothing to pay for a while?
always consider the coins to be valuable not only in terms of holding but also as Payment materials.

[Ayers]

bitcoin is not suitable to be used as a means of payment like fiat, bitcoin is more suitable to be used as an asset.
if you make bitcoin as a means of payment when will you get the benefits, if in my country someone wants to accept bitcoin as a means of payment I will not do it.

Why do you say bitcoin is not suitable for use as a means of payment? Can you give a few reasons? Don't forget that bitcoin was designed by Satoshi to be used as a means of payment without a 3rd party, he did not intend to create bitcoin as an asset and for trading as it is today. All that is happening is because we made it an asset, an investment, not the original purpose of bitcoin. There's no denying that bitcoin is seen as more of an investment, but there's nothing wrong with someone using it to replace fiat as a payment method.

Most of the people right now see bitcoin as an investment even those new one that asking help on me about bitcoin which first i do always say to them that it was used for transaction but sometimes they always insist that it was for investment. Well we cant blame them as the price right now is huge and anyone of us wants it but having regretting spending it the for sure your mindset is only getting profit out of it and not known the true purpose of bitcoin

I don't blame anyone as I myself am using bitcoin as an investment rather than a means of payment. But at least as an investor in bitcoin, we should also learn about its history and what it was initially created for. That way, the more we will see the value of bitcoin, the more confident we will be about our investment.

To me, bitcoin is like a versatile asset, people can use it according to their intended use, and as long as it benefits them, there is nothing wrong. But if you use bitcoin to invest, your friend uses bitcoin as a currency, you can't say your friend is wrong.

[crypticj]

bitcoin is not suitable to be used as a means of payment like fiat, bitcoin is more suitable to be used as an asset.

Then why bitcoin maxis are saying that the "mass adoption is coming"?
it doesn't make any sense. Everyone with whom I speak on this forum says that they see bitcoin as an asset and not currency, but at the same time, people are waiting for businesses to start accepting bitcoin as a payment method.
This contradiction is relly strange to me.

[Litzki1990]

Since Bitcoin is not stable, if you pay with Bitcoin, the amount you will pay with Bitcoin later may be more or less and it will completely depend on the market of Bitcoin. If you have a doubt that the amount of btc you pay for something will increase several times over time, then you don't need to pay with btc, you can pay with any stable coin. The price of bitcoin is going to change in the future but no one can predict how much it will change as the price of bitcoin is likely to increase so you can hold your bitcoins for a certain period of time without spending them.

[YUriy1991]

You're serious? Hahaha, Nice Joke, but that's a good motivation because you know this is an asset that will fly to the moon and the price can go higher than Elon Musk's Rocket . Well, I think the decision to pay with Bitcoin is a personal choice. Of course for any transactions we plan for payment items I believe someone  have prepared beforehand using stablecoins for example, unless there are no other options at the moment.

[Pierre 2]

I generally feel bad when I need to pay with Bitcoin. Who would like to pay with something which is not deflationary. My country's currency (Turkish lira) keeps losing so much value that its best thing to pay with it. I love it when people sell me their Bitcoin for my Turkish lira (better experience than exchanges). I wonder when exactly we will start to treat as currency. I mean I obviously use it as currency - but its unfavored option for me to buy things with it - so I guess it will take years and years to come so many people will adopt it, its price will be stable so it will become very nice currency.

[crypticj]

You're serious? Hahaha, Nice Joke, but that's a good motivation because you know this is an asset that will fly to the moon and the price can go higher than Elon Musk's Rocket . Well, I think the decision to pay with Bitcoin is a personal choice. Of course for any transactions we plan for payment items I believe someone  have prepared beforehand using stablecoins for example, unless there are no other options at the moment.

You see, the problem is, bitcoin WAS created as a technology, as a solution to the banking problem. it wasn't created as an asset. It's people like you who want to make money out of it and think that it's just another stock to invest in.

But it's not true. Bitcoin, in its nature, is a revolutionary technology that can be used to change the world and the banking system as we know it. But somehow people just ignore it and want to make a quick buck and keep holding their money in the bank letting it control them.