Paying with Bitcoin.

[Antotena]

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

If you don't hold large amount of bitcoin, when you see people use it buy item, you will think they don't know what they are doing but they do. What's the purpose of holding 1000btc bought each for $1k and now, you have an urgent need to buy a laptop and they offer bitcoin as a method of payment, I don't think that is going to be a problem for you to do instead of selling the Bitcoin and then convert to fiat before can buy what you want to buy.

If you have the bitcoin that yiu have bought when the price is low and you really have the need to sell the bitcoin, I don't think that's a problem at all but when you buy at all home high and then you sell at lower price because you want to buy something, it's doesn't make any sense. It will only end in loss and the person that receive can hold the same bitcoin and the price will appreciate later.

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[so98nn]

First of all there is one point within your OP that is bugging me: bank charges. They are not really high and if you go to the nationalize banks then those are just fixed tiny fees. Only for specific products they would charge a fix % amount and thus it would be higher if the transacted money is huge in terms of volume.

Now if you compare the fees of Bitcoin with traditional banking then you will see a major difference between them. Bitcoin fees are not fixed and they will keep changing as per the transacted vbytes and mining difficulty around the blockchain. Just take an example of the current situation where fees are boosted like hell. You need to pay anywhere between 20-50 bucks for faster transactions. Doesnt matter if you send ten bucks or one million, the fees would change as per the vbyte load.

Paying with Bitcoin is easy, however tackling the fees is somewhat crazy.

[CryptoHeadlineNews]

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.

I thought your definition and explanation of Bitcoin given above (i.e This also implies that buying goods and services would be faster and easier if more people owned and accepted Bitcoin already gave the reason why Bitcoin is worthy of an asset/digital money good enough for purchasing items both online and physical stores? Because it's kind of confusing,. Because the fact that Bitcoin is now generally accepted by people globally, that alone makes Bitcoin a medium of exchange, more of value than gold and silver due to it's limited supply of 21million BTC.

[The Cryptovator]

So you don't want to use your Bitcoin someday? Or you just want to hold it for a lifetime and not use it. If this happens, then who will use Bitcoin? The goal of Bitcoin was to create a decentralised financial system where we could send and receive money worldwide without a third party through a p2p transaction. So it's a nature of currency you have to spend for needs. Just not hold it for a lifetime. I know that by holding, you may potentially gain more money, but how long will you not spend it? Where do you want to use your Bitcoin? So spending your bitcoin on something that you need isn't wrong.

[red4slash]

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

You can do it if you want as long as there is no ban in your country and as long as there is an agreement on the payment method with the seller (manufacturer) then this is still very possible because after all, we must be aware that conditions like this are dependent on our personal choices.

But that doesnt mean we dont look at the regulations because until now buying an item with bitcoin payment is an option and even for many countries it is still something that is not recommended so we need to look at this regulation whether we can buy goods with bitcoin or not in the area we live in because if not and there are trying to force it then indirectly you violate the regulations in your own area.

[Gormicsta]

There is no issue in using of bitcoin for payment of goods but I think that bitcoin is not yet adopted much that you can easily pay bitcoin for buying materials from anybody. For using bitcoin for buying of goods it is necessary that bitcoin should be accepted by everyone and all people should have knowledge about bitcoin because if they don't know about bitcoin then they will not understand its success and will not accept bitcoin as a payment method.

Yes, I think it will be simpler to utilize Bitcoin as a payment method the more people who are aware of it and accept it. In my opinion, two major things needs to happen before Bitcoin would be accepted as a payment method by more people. First of all, more establishments and retailers must start accepting Bitcoin as payment. And Secondly, we must facilitate the acquisition and use of Bitcoin by the general public. Trust me, if these two things can be actualized then public adoption of bitcoin as a payment method would be very easy to achieve.

[bettercrypto]

 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.

If I am one of those who believe that bitcoin is our future in terms of money and want to save it, I will not use bitcoin right now to pay for an item that I want to buy. Because if you look at the price value of Bitcoin from 2009 to the present, its value has increased greatly, so that means that there is no time that Bitcoin's price value has not increased.

So if you make it like a mutual fund, it's a good way because let's just assume that 15 years from now and every month you will save around 50 dollars of Bitcoin. I am pretty sure that the value will be high when 15 years come. Do you get it?

[freedomgo]

If we set ourselves for long term, we will eventually use bitcoin to purchase goods or assets in the future. Probably for now we may be greedy to think about owning bitcoin and holding it for long term. But we all know that hodling for a lifetime is not also right so either we end up selling it for profits, or we will just let it perform as a currency and use it to buy goods and services, or even assets.

[sulendra12]

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

It's okay imo. Most people treat Bitcoin as an investment and currency to pay things including me. The ease to pay things online without any disturbance by any third parties is such a luxury and I do find it really worth it. Although in here I've bought digital goods using Bitcoin and some clothes in early days, but most of the merchants nowadays that was accepting crypto before is gone because of the regulation. It sucks but there's nothing we can do.

[nakamura12]

Yup it is completely ok to do so.

But the question is - where will you find a user who is willing to accept bitcoin for selling their product to you?

There lies the limitation, but we as a community are working on this, trying to increase the adoption and mainstream acceptance. My own experience over the last 7+ years on this forum, I have seen crypto grow from a cultish thing to a maintream buzz and this means we are growing steadily.

At present, merchants accepting bitcoin are few and gift cards are another option (fees hurt!). Directly selling bitcoin for fiat and using the fiat to buy your goods is another option but it might not be feasible in many countries.

That won't be much problem if it's in physical and online won't be that hard but it won't be that easy to find one. It is possible to find one but in order to know it is you have to ask first if they accept another payment method like cryptocurrency such as bitcoin and eth when paying. If they say yes then you can pay bitcoin for the product they are going to sell to you. Well, in country where bitcoin is banned would not be easy for them to exchange it into fiat since it is banned in their country.

[Sanitough]

We should always remember that if we won’t be using bitcoin as a payment, it would be highly against that concept of Satoshi. He invented bitcoin so we can gain financial freedom from the bank and use it as a reliable currency, so as much as possible, we should also adhere to the concept of the bitcoin founder.

But if we will also consider our greedy side, for now it’s safe and highly beneficial for us to invest and hold bitcoin for long term than buy bitcoin and use it for payment purposes. But if you have extra bitcoin on your wallet, why not?

[Z_MBFM]

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.

If I have bitcoins for long term holding and if I am at a loss after buying bitcoins I will never use those bitcoins to buy anything. But if I have enough bitcoins and I have no intention of holding them for long then I will definitely use them to buy something. a Bitcoin is not specific to anyone, so if I use my Bitcoin to purchase something, I can easily buy Bitcoin again later. So I don't think it's a problem to make some purchases using Bitcoin. So I would like to say that the opportunity to buy any essentials with bitcoins is that I will use bitcoins to buy them and later buy bitcoins again if I can able to manage money

[ancafe]

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.

Depending on each person's point of view and regarding purchasing goods using bitcoin, it is fine because currently there are many products that provide payment transactions using bitcoin even though they do not fully accept payments using bitcoin. In fact, many people who use bitcoin as an investment will not use bitcoin as a means of payment because they consider bitcoin to be the best investment asset that can provide large profits in the long term.

Another factor is that people have to be connected to the internet every time they make a payment using bitcoin and this definitely requires transaction fees, so some people are more inclined to make payments using the old system which involves fiat currency. Apart from that, each individual may have their own views regarding payments using bitcoin and I prefer to use bitcoin for investment purposes not for payment.

[Questat]

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.

If I have bitcoins for long term holding and if I am at a loss after buying bitcoins I will never use those bitcoins to buy anything. But if I have enough bitcoins and I have no intention of holding them for long then I will definitely use them to buy something. a Bitcoin is not specific to anyone, so if I use my Bitcoin to purchase something, I can easily buy Bitcoin again later. So I don't think it's a problem to make some purchases using Bitcoin. So I would like to say that the opportunity to buy any essentials with bitcoins is that I will use bitcoins to buy them and later buy bitcoins again if I can able to manage money

Well, just for now, Bitcoin isn't considered a means of currency but just an investment. However, this won't say also that it never happen in the future as we are still in the adaption period. Meaning, people gradually accept and use Bitcoin as a currency for buying stuff but it will just remain an option for them.

If we see Bitcoin now as a money maker, then so be it, many people are doing this as well. Besides, there is no urge to use Bitcoin as a currency but it remains an alternative when we are ready and of course, when an establisehment/s accepts as well.

[Sebas.tian]

If you don't know that adopt Bitcoin is a risk to humanity, you better know it now, because many people or companies using Bitcoin to pay their workers as payment knew the risk before using it, and they are benefiting from the transaction. Well, it's a Matter of choice to make Bitcoin a legal tender in your country and it will reduce so many things from the country which we have see some progress in the land of those countries that made Bitcoin legal tender for Bitcoin users to purchase any kind of goods and services and pay with Bitcoin. Before you introduce Bitcoin payment into your business, please ensure you have more skills on that business because you need to be keeping all your personal details that related to your Bitcoin wallet regularly because the moment anyone have access on them, your business will collapse.

[Blitzboy]

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.

Depending on each person's point of view and regarding purchasing goods using bitcoin, it is fine because currently there are many products that provide payment transactions using bitcoin even though they do not fully accept payments using bitcoin. In fact, many people who use bitcoin as an investment will not use bitcoin as a means of payment because they consider bitcoin to be the best investment asset that can provide large profits in the long term.

Another factor is that people have to be connected to the internet every time they make a payment using bitcoin and this definitely requires transaction fees, so some people are more inclined to make payments using the old system which involves fiat currency. Apart from that, each individual may have their own views regarding payments using bitcoin and I prefer to use bitcoin for investment purposes not for payment.

I get Bitcoin's dual role as an investment and a transaction medium. I favor long-term Bitcoin investing. Its not just about the big returns, but also the exhilaration of financial change. Decentralised Bitcoin is the future of money, in my opinion.

Internet access, transaction fees, and novelty are all issues with Bitcoin payments. I also see great potential. The growing acceptance of Bitcoin in many marketplaces shows its adaptability. I support using Bitcoin for transactions whenever possible to integrate this revolutionary money into our daily lives.

Fiat currency is suitable for daily use. Bitcoin transactions lack their simplicity and stability. But I'll always support Bitcoin. Looking forward to the future of bitcoin integration. Bitcoin symbolizes financial empowerment and innovation, not just investment.

[0t3p0t]

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.

Yes, we have been doing that here in some parts of our country using a local Lightning Network supported wallet. It is quiet convenient to pay using Bitcoin for your haircut, icecream, hotel bookings, drinks, meal and even rides though numbers of merchants declined compared to previous years but still it's in the early phase so we are hopeful in the near future for more openings of local businesses to accept Bitcoin payment.

[Vaculin]

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.

Yes, we have been doing that here in some parts of our country using a local Lightning Network supported wallet. It is quiet convenient to pay using Bitcoin for your haircut, icecream, hotel bookings, drinks, meal and even rides though numbers of merchants declined compared to previous years but still it's in the early phase so we are hopeful in the near future for more openings of local businesses to accept Bitcoin payment.

Indeed, adoption doesn't go fast and easily due to some misunderstanding and lack of knowledge.  If we compare the situation these days vs 5 years ago, we are already far. From time to time, accepting Bitcoin is going better and become mainstream in the future. Adoption can't be instant so year by year, we can expect a growing number of businesses accepting Bitcoin which also encourages BTC holders.

But having the sentiment of huge fees and volatility is also a factor why some business owners are still leaving on the doubtful condition to whether accept or decline.

[arwin100]

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.

Yes, we have been doing that here in some parts of our country using a local Lightning Network supported wallet. It is quiet convenient to pay using Bitcoin for your haircut, icecream, hotel bookings, drinks, meal and even rides though numbers of merchants declined compared to previous years but still it's in the early phase so we are hopeful in the near future for more openings of local businesses to accept Bitcoin payment.

Indeed, adoption doesn't go fast and easily due to some misunderstanding and lack of knowledge.  If we compare the situation these days vs 5 years ago, we are already far. From time to time, accepting Bitcoin is going better and become mainstream in the future. Adoption can't be instant so year by year, we can expect a growing number of businesses accepting Bitcoin which also encourages BTC holders.

But having the sentiment of huge fees and volatility is also a factor why some business owners are still leaving on the doubtful condition to whether accept or decline.

There's also lot of challenges that stop its mainstream adoption that's why we can't see bitcoin became accepted or if there it is they suddenly stop it immediately and erase it on their option due to a lot of factor. If we can't see any changes especially on fees where it skyrockets if there's a good pump happening I think this merchants accepting bitcoin wants would provably not happening since they will always think that this is expensive option for them to have.

For sure there's no problem with its volatility since everyone can learn how to deal with it and we get used to it so for sure those new people who want to deal with it can able to handle the market stress once they learn more about bitcoin and its market.

[EarnOnVictor]

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.

OP, I think you read the article too much to the extent that you are mixing facts, or perhaps you didn't get it at all. Well, Bitcoin is a decentralised system, which means that no central authority is involved here, which I will still not totally agree with since miners have the right to change some things if they vote and the majority wins the vote. Only that they can't control your transaction like the central system will do. Also, for payments, Bitcoin is a good one, it has solved the issues and difficulties we often face with cross-border payments, but still, banking transactions are better when it is local. It is the wire transfer, MoneyGram/Western Union and the like that are exploitative. However, if one pays through the existing fiats payment services, the transactions are reduced but could still be higher than that of Bitcoin when it is normal. But in some abnormal Bitcoin transaction fees, one can still be paying over $35 per transaction, which makes it inconsistent in this regard.

Lastly, about the economies, I will advise you to drop that, Bitcoin will rather hurt the economy due to its decentralised system and the 21, million BTC max circulation supply. Presently, Bitcoin is hurting many countries' economies unnoticed, including mine, and it is all due to its decentralised nature of it. FX import and export are important to the process of the nation, but Bitcoin is not allowing it to be known per country, especially the FX imports, this is worse for consuming nations.