Paying with Bitcoin.

[Wiwo]

Despite the fact that, bitcoin is a currency it has higher asset features which is something that we have to align ourselves with and the reason why many bitcoin holders don't want to use bitcoin for payment rather store it as a store of value, and also due to the techenicality of bitcoin, it rather being used to store values rather than a currency.

Although if the receiver who is the seller of the goods or services, is well knowledge about bitcoin and the sender agree to pay with bitcoin, why not, bitcoin transferable features makes that to be very easy to achieve since one can comfortably send any amount from the total balance to the recieving wallet.

So yes bitcoin can be used for payments.

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[KennyR]

It’s not wrong to use Bitcoin as an exchange for goods and services. Bitcoin is both an asset and a currency, sadly many people see it only as a asset and completely disregard the currency part. If we don’t use Bitcoin as money, how do you expect Bitcoin to have mass adoption? Companies and small businesses will have no motivation to add Bitcoin as a payment method if they don’t have enough patronage. I expect bitcoiners to take advantage of opportunities that gives them the chance of buy and pay for stuff with bitcoins.

The reason behind the innovation is to serve as an alternate to the momentary system and take away the intermediary. Due to the tremendous growth of cryptocurrency, people started to prioritize bitcoin and other cryptocurrencies as assets rather than a medium of exchange. In some countries, it is possible to see increased acceptance of bitcoin in specific locations, whereas the same isn't happening all around due to different governments having different opinions on cryptocurrency usage. It takes time for a massive transition.

[EluguHcman]

I clearly understood your point @ OP. You have grieves to exchange your Bitcoin assets which is potentialed to yield you incomes for the exchange of goods and services without increments in returns.
You verbally feels there would be lost count in such sceneros but I can tell you OP, even the fiat that is particularly used for and exchange of goods and services are also assets dependent on where it is banked (where it is deposited).

However, Bitcoin is primarily designed and invented for an
alternative means of  payment of goods and services in replacement of the fiats otherwise, Bitcoin is a technological and digital assets currency with the potentials to profer incomes.

So with this reasons of Bitcoin inventory, yes of course @ OP, it is worth trading Bitcoin for payment and exchanges.

[Kelvinid]

Let us say that Bitcoin acceptance has been growing and many people are already accepting this as a mode of payment aside from known Fiat money. If both parties agreed to such a mode of payment then it was okay. In fact, many complete transactions like this have been made already which means that it was the decision and agreed options, we can decline the offer if we are not comfortable.

What we need is trust because this is an online transaction but as long as you are sure about it, then go.

[Rengga Jati]

....
So, I would love to ask and get this confusion over with. Is it ok for you to purchase items with Bitcoin? If yes or no, please state your reasons so we can all learn from it.

Simply yes, Personally, I would be very happy to do it if possible. However, the problem is not only personal, but also due to government regulations in each country. Maybe some people could say, just leave it to state regulations, we can do it secretly. Well, that's possible, but it's too risky, because the threat of punishment is prison, so which one do you choose? Yes, choose to stay safe by obeying the regulations in my country, right? Because here, Bitcoin is legal as a commodity asset for investing or trading with its own risks. However, it is prohibited and it is illegal if used as a means of payment, and will be subject to sanctions.

Even if I want to shop with Bitcoin, then it will only be shopping globally, in the sense of ordering goods from abroad where there is a possibility of merchants accepting Bitcoin payments. However, it will actually become more expensive and much more expensive because there will be higher shipping costs, customs duties and so on. And of course the time will also get longer. That's why this isn't just a personal reason, but rather circumstances that don't support it. And this is one of the problems that Bitcoin is still experiencing and must face at this time.

[legiteum]

....
So, I would love to ask and get this confusion over with. Is it ok for you to purchase items with Bitcoin? If yes or no, please state your reasons so we can all learn from it.

Simply yes, Personally, I would be very happy to do it if possible. However, the problem is not only personal, but also due to government regulations in each country. Maybe some people could say, just leave it to state regulations, we can do it secretly. Well, that's possible, but it's too risky, because the threat of punishment is prison, so which one do you choose? Yes, choose to stay safe by obeying the regulations in my country, right? Because here, Bitcoin is legal as a commodity asset for investing or trading with its own risks. However, it is prohibited and it is illegal if used as a means of payment, and will be subject to sanctions.

Even if I want to shop with Bitcoin, then it will only be shopping globally, in the sense of ordering goods from abroad where there is a possibility of merchants accepting Bitcoin payments. However, it will actually become more expensive and much more expensive because there will be higher shipping costs, customs duties and so on. And of course the time will also get longer. That's why this isn't just a personal reason, but rather circumstances that don't support it. And this is one of the problems that Bitcoin is still experiencing and must face at this time.

What country do you live in where paying in Bitcoin is illegal? Is there a list somewhere of countries like this?

[Myleschetty]

This also implies that buying goods and services would be faster and easier if more people owned and accepted Bitcoin.

Buying goods and services with Bitcoin will be easier but may not be fast due to the network congestion we're experiencing with the Bitcoin network unless both parties agree on using LN for the payment.

If Bitcoin was adopted and accepted as a means of exchange in many countries then there would be a huge improvement in various and global economies.

Bitcoin is not the answer to global economics at large. There are some corrections the government ought to do that will solve the global economic issue.

reduce the rate at which bank charges are being paid

We don't know if this is still applicable ever since the Bitcoin spot ETF was approved some changes will happened and I once read that BlackRock wanted to bring the institutional banks in.

[Assface16678]

That's the reason why governments and countries can't adopt or fully legalise the usage of bitcoin currency as a currency for purchases or exchanging goods, because they can't put fees or taxes in every transaction, and they also can't track where and who is the receiver or sender. We understand their point because everything should have a system or rules to be followed, but bitcoin or crypto currency is unique in terms of its own technology and usage.

Yes, for me, it's okay or fine to buy or purchase things using bitcoin in my country. There are no rules that imply banning or treating crypto currency as illegal, but it will depend on the merchants or sellers if they offer crypto currency payment. It's rare, but when it comes to online transactions, crypto payment is one of the used options. Thankfully,  the country where I reside doesn't give much attention to crypto currency, or they just don't have the power to do so.

[Finestream]

I won’t be seeing significance why I accumulate bitcoin in the first place if I won’t use it as a currency more than an investment. So I will definitely use bitcoin to purchase some goods or services if my fiat funds are not enough. Which means, I will prioritize first utilizing my fiat and bitcoin will only serve as a back up. That way, I will still be a able to save good amount of bitcoins and benefit them in the future.

However, if we use bitcoin today, the problem is there are only few shops that will be accepting bitcoin, and I don’t think in my own locality I can find one.

[glendall]

There's nothing wrong with buying things with Bitcoin, it's true that Bitcoin has the possibility of multiplying in the future, that's for sure, but there are consequences for taking action, and besides, everyone has their own principles. in treating bitcoin

[Don Pedro Dinero]

From a purely economic return point of view, there is no point in spending bitcoin to acquire goods and services, as it is better to use fiat currency, which is constantly devaluing, for this purpose. However, bitcoin was created as a currency, and part of learning what it is and how it works is to use it. That's why I think many of us on the forum do both: accumulate bitcoin and spend bitcoin from time to time.

[Kakmakr]

So, after reading a thread and realizing that paying with Bitcoin would mean that you'd be paying with future returns, I went on to research the topic of paying for goods and services with Bitcoin.
Bitcoin is decentralized meaning that it can be transferred to anyone without the interference of intermediate/ central authorities. This also implies that buying goods and services would be faster and easier if more people owned and accepted Bitcoin. If Bitcoin was adopted and accepted as a means of exchange in many countries then there would be a huge improvement in various and global economies.
It'll enable more people to access financial services and knowledge, reduce the rate at which bank charges are being paid, values gotten by sellers will increase rapidly, anonymity and many others. Apart from the loss on the buyers's part, Bitcoin has lots of disadvantages which would be challenges and pose lots of unhealthy risks if adopted.

After doing my research, I came to realize that this may probably be influenced by personal choices. Because looking at it thoroughly, some people would pay for items using things like Gold, Land, and other assets. But in the eyes of a money literate, that may be totally wrong.
So, I would love to ask and get this confusion over with. Is it ok for you to purchase items with Bitcoin? If yes or no, please state your reasons so we can all learn from it.

Thank you

I do not think it is 100% up to every individual, if he wants to use Bitcoin as a payment option. It boils down to basic things that needs to be approved by governments to allow individuals to use Bitcoin as legal tender.

Merchants cannot accept  Bitcoin as a payment option, if the government did not approve it as a currency. They can do it, but they will be breaking the law and could face huge fines or even some prison time 

[Lucius]

What country do you live in where paying in Bitcoin is illegal? Is there a list somewhere of countries like this?

If by any chance you looked for an answer to your question online, you would have found out the answer sooner than you asked the question. In some countries like Turkey and Thailand, Bitcoin is banned as a currency, although trading is allowed - in some others it is completely banned (Algeria, Bangladesh, Bolivia, Nepal, Ghana, Qatar, China...).

However, no one can forbid you to use decentralized crypto exchanges or to pay someone privately with Bitcoin in any country in the world where there is internet.

[Zigabel]

I would love to ask and get this confusion over with. Is it ok for you to purchase items with Bitcoin? If yes or no, please state your reasons so we can all learn from it.

Thank you

This is almost like asking if it good to pay for goods or services with money. Because if Bitcoin has a monetary value even in your domestic Fiat, why then can't you transact with it?? Why can't you buy whatever it is or pay for any service in Bitcoin, paying in Bitcoin is even more advantageous to the sell or the person delivering the service because the price of Bitcoin could appreciate minutes after payment and it becomes an extra profit for the person who was paid in Bitcoin especially if the payment isn't used almost immediately so payment in Bitcoin is possible and is good aswell, although it's disadvantage can't be denied too but then it's safe and has an advantage of been able to be used across all nations in the world provided there's a convertion service available.

Just the way you can use Gold, land and other valuables to pay for another goods or services, you can aswell do same with Bitcoin because it's also valued in whatever fiat you may want to convert it to, provided you can DCA then you can further convert to your domestic Fiat.

[teamsherry]

I don't know if people would be willing to pay high fees for simple transactions as just going out to the market to get some simple stuff, unless maybe large transactions that the buyer and sellers would be willing to pay without much thinking about this. And I think this is one of the reasons why banks are still very much ahead of bitcoin in p2p transactions cause transactions in fait still has very little transactions fee and we can't still compare the margin between master card charges and p2p transactions in bitcoin, even with innovations like lightning network and liquid we are still facing high transaction fees. I think we might be closer tho to this future of globalised p2p transaction with bitcoin especially as we are reaching wider adoption of bitcoin. But another thing remains that most persons still view bitcoin as a profit making asset more than the main reason stoshi created it for. Anyway we still wait for this future.

[Ayers]

It’s not wrong to use Bitcoin as an exchange for goods and services. Bitcoin is both an asset and a currency, sadly many people see it only as a asset and completely disregard the currency part. If we don’t use Bitcoin as money, how do you expect Bitcoin to have mass adoption? Companies and small businesses will have no motivation to add Bitcoin as a payment method if they don’t have enough patronage. I expect bitcoiners to take advantage of opportunities that gives them the chance of buy and pay for stuff with bitcoins.

The reason behind the innovation is to serve as an alternate to the momentary system and take away the intermediary. Due to the tremendous growth of cryptocurrency, people started to prioritize bitcoin and other cryptocurrencies as assets rather than a medium of exchange. In some countries, it is possible to see increased acceptance of bitcoin in specific locations, whereas the same isn't happening all around due to different governments having different opinions on cryptocurrency usage. It takes time for a massive transition.

I don't know if using bitcoin as a payment method in other countries is correct as you said. But honestly, I don't think bitcoin will become a currency in the future. When from the very first days people saw it as a speculative asset, when ads about bitcoin ETF were all over social networks and they called it an investment, not a currency. So the idea of it becoming a currency seems to have disappeared, not to mention the government will never let that happen because they can't control it.

[Helena Yu]

I don't know if using bitcoin as a payment method in other countries is correct as you said. But honestly, I don't think bitcoin will become a currency in the future. When from the very first days people saw it as a speculative asset, when ads about bitcoin ETF were all over social networks and they called it an investment, not a currency. So the idea of it becoming a currency seems to have disappeared, not to mention the government will never let that happen because they can't control it.

You need to check El Salvador, Nayib Bukele aka El Salvador's president was accepting Bitcoin as legal tender since 2021.

To expect every countries to accept Bitcoin as legal tender seems to be impossible because each country has it's own rules, I don't know where you live, but your country must have forbid something, while in other country it might be legal.

When most people can trust Bitcoin's sidechains, no one will complaint about network congestion anymore.

[Y3shot]

So, I would love to ask and get this confusion over with. Is it ok for you to purchase items with Bitcoin? If yes or no, please state your reasons so we can all learn from it.

Purchasing things with bitcoin is not a bad idea, bitcoin is not just only meant for investing , it can also be use to for spending in purchasing your needs.  It depends on you if it is wise for for you to spend your bitcoin to buy something or to invest in it, this are personal decisions one needs to think if it will be financially wise to spend bitcoin or to invest it. Bitcoin is money but money with that is very volatile,  that is why it is also considered as investment too.

[LDL]

Bitcoin as a medium of exchange is undoubtedly a good exchange system. Bitcoin is not only a currency but also a significant medium of exchange. Bitcoin is also a digital asset.  Bitcoin has gained worldwide acceptance and countries around the world have already accepted Bitcoin as an exchange for various commodities. People in different countries of the world are now making payments like car rental, house rent, and education tuition fees through Bitcoin. Undoubtedly, the use of Bitcoin in exchange for various products will be considered a significant part of the Bitcoin Revolution.

[acener]

If you could use your Fiat why would you even spend your Bitcoin?
I mean if it is face to face transaction it wouldn't have a transaction fee, and holding Bitcoin have a potential to give you profit.