My Dreams of a Bitcoin Circular Economy in my Country

[Arenga pinnata]

I am a bitcoin enthusiast and I wish to spend some of my bitcoins instead of fiat. Unfortunately, I am unable to do so because of its slow pace of acceptance in my country. I really want to promote the bitcoin circular economy but I can't. I dream of  day in my country where I can earn in bitcoin and spend in bitcoin. I dream of the day where, even though I need to keep my bitcoin secure in a cold storage, I can still have say $100 worth of BTC in a hot wallet that I spend to buy goods and services from people who accept bitcoin. The idea will be to spend from this hot wallet for purchases while promptly replacing it. That is, after spending the $100, I simply buy another $100 worth of Bitcoin to refill the hot wallet. I remain optimistic that my dream will eventually come true in my country. In the meantime, I would be happy to hear the experiences of bitcoiners who are already living my dream bitcoin circular economy in their country. What is it like for you?

Your dream seems to have been realized in El Salvador and the Central African Republic. And I hope there are users here who can share their stories in that country. Or anyone who has visited there. because it looks like it would be fun to read stories of people visiting the most bitcoin-friendly countries that have even legalized bitcoin as legal tender.
And I hope that your country can soon follow the steps of El Salvador and the Central African Republic. In my country bitcoin is only a commodity asset. And it still cannot be used as a means of payment. So I also have difficulty if I want to have experience in paying with bitcoin in the real world. Unless it's done with friends, maybe it can be done. But for me, Bitcoin being a commodity asset is good enough. And this makes people who were initially cynical about bitcoin speechless.

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[kotajikikox]

I am a bitcoin enthusiast and I wish to spend some of my bitcoins instead of fiat. Unfortunately, I am unable to do so because of its slow pace of acceptance in my country. I really want to promote the bitcoin circular economy but I can't. I dream of  day in my country where I can earn in bitcoin and spend in bitcoin. I dream of the day where, even though I need to keep my bitcoin secure in a cold storage, I can still have say $100 worth of BTC in a hot wallet that I spend to buy goods and services from people who accept bitcoin. The idea will be to spend from this hot wallet for purchases while promptly replacing it. That is, after spending the $100, I simply buy another $100 worth of Bitcoin to refill the hot wallet. I remain optimistic that my dream will eventually come true in my country. In the meantime, I would be happy to hear the experiences of bitcoiners who are already living my dream bitcoin circular economy in their country. What is it like for you?

your dream is much better than just using the bitcoin because what you wanna do is completely circulating in which i believe is the main objective of Satoshi when she created the bitcoin.
and instead of just using that 100 dollars to pay your grocery , what you wanted is to use bitcoin first then refill it with another bitcoin an amazing plan mate , hope you will manage to see that coming.
but cant  you have a small business in your place that will accept bitcoin as payment? so you can start that welcoming of bitcoin payment before others follows you.

[bluebit25]

It is not far from now that Bitcoin becomes more popular among the general public, which will convince other companies to introduce Bitcoin as a suitable way to repay financial debts. But it still has to fix some problems before that day comes. One of the main obstacles to using Bitcoin as currency in common small purchases, such as groceries, is the high transaction costs. No one wants to pay too much just for some goods. Where Bitcoin transaction confirmation speed depends on the amount you pay as fees. If you choose low fees, you will have to wait a long time before your transaction is confirmed. This situation can be inconvenient for both buyers and sellers, especially if quick sales are threatened in such situations.

[Smack That Ace]

We often call bitcoin digital gold, which means people also treat bitcoin like gold. And do you see gold being used for payments globally?

Personally, I'm the opposite of you, I don't think bitcoin can become a global means of payment in the future. Looking at what's going on, I see people talking about bitcoin as an investment, a commodity that can bring them profits. Not to mention, do you think governments will accept a currency that they will not be able to control and cannot tax? I like reality and don't want to live in illusion and this is my view of what bitcoin has been and will become. Bitcoin is an asset to invest in and in the future it will also be an investment, an asset.

Why you need to use other people opinions to define something? what most people say about Bitcoin is scam or ponzi, will you think Bitcoin is like that?

Government already accept Bitcoin as legal tender, check El Salvador, that means they don't have to control Bitcoin in order to accept Bitcoin.

How you can think they can't tax Bitcoin? it doesn't have to be as a commodity i.e. capital gains in order to tax Bitcoin, everything you earn get taxed i.e. income tax.

Besides El Salvador, are there any other countries that accept bitcoin as legal tender? And do you know what % of the population there uses bitcoin as currency? Because according to what I see in the media, the president of El Salvador is still diligently buying 1BTC every day and what he is talking about is profit. I never saw him mention the use of bitcoin in his country, I only saw him talk about his bitcoin investment being profitable.

Governments will certainly find ways to tax, but with the use of bitcoin they will have difficulty collecting taxes. We don't need to ask someone, ask yourself, do you want to pay taxes to the government if they want to collect taxes on your bitcoin investment? And how many people will voluntarily pay taxes or are trying to avoid taxes through bitcoin?

[eightdots]

I am a bitcoin enthusiast and I wish to spend some of my bitcoins instead of fiat. Unfortunately, I am unable to do so because of its slow pace of acceptance in my country. I really want to promote the bitcoin circular economy but I can't. I dream of  day in my country where I can earn in bitcoin and spend in bitcoin. I dream of the day where, even though I need to keep my bitcoin secure in a cold storage, I can still have say $100 worth of BTC in a hot wallet that I spend to buy goods and services from people who accept bitcoin. The idea will be to spend from this hot wallet for purchases while promptly replacing it. That is, after spending the $100, I simply buy another $100 worth of Bitcoin to refill the hot wallet. I remain optimistic that my dream will eventually come true in my country. In the meantime, I would be happy to hear the experiences of bitcoiners who are already living my dream bitcoin circular economy in their country. What is it like for you?

Some things we want may not happen right away. Considering the stages Bitcoin has gone through, it is possible for what you want to happen. I think we will see the time when states will accept Bitcoin legally. When this happens, what you want happens faster.

As I said, Bitcoin has proven itself through many difficult stages. From now on, Bitcoin will continue to prove itself and be used.

[Rockstarguy]

I remain optimistic that my dream will eventually come true in my country. In the meantime, I would be happy to hear the experiences of bitcoiners who are already living my dream bitcoin circular economy in their country. What is it like for you?

It is just a matter of time your dream will come to pass and you will spend your bitcoin on things just the way you like . If other countries can have access to bitcoin and spend it the way they want that means a day is coming when bitcoin will be legal in your country when you can now spend bitcoin just as fiat. I believe bitcoin is getting to an era it will be spent without any restrictions by the government, the reason why in some regions people don't use bitcoin freely is because the government in these places haven't know bitcoin well and how it can be of benefit to people.

To me I feel bitcoin is still growing and since countries are accepting it as a legal tender, it will still get to the turn of other countries to accept it as a legal tender also.

[Synchronice]

I am a bitcoin enthusiast and I wish to spend some of my bitcoins instead of fiat. Unfortunately, I am unable to do so because of its slow pace of acceptance in my country. I really want to promote the bitcoin circular economy but I can't. I dream of  day in my country where I can earn in bitcoin and spend in bitcoin. I dream of the day where, even though I need to keep my bitcoin secure in a cold storage, I can still have say $100 worth of BTC in a hot wallet that I spend to buy goods and services from people who accept bitcoin. The idea will be to spend from this hot wallet for purchases while promptly replacing it. That is, after spending the $100, I simply buy another $100 worth of Bitcoin to refill the hot wallet. I remain optimistic that my dream will eventually come true in my country. In the meantime, I would be happy to hear the experiences of bitcoiners who are already living my dream bitcoin circular economy in their country. What is it like for you?

Bitcoin is not capable of fulfilling your dream because it's not ready for massive usage. Have a look at what happened when ordinals started minting NFTs on bitcoin blokchain. They were regularly minting and creating tons of transactions on bitcoin blockchain and this caused clogging of mempool. In result, we got enormously high transaction fees. Now imagine, if Bitcoin becomes popular (forget ordinal attack), how will you be able to pay with it? Massive adoption and usage means massive transaction fees since developers aren't going to increase bitcoin block size. It's easy to make that dream reality with centralized system inside the country but that's against the whole purpose of having a decentralized p2p currency.

[yazher]

Not only in your country, but most of the 3rd world countries are slow when it comes to such kinds of development because of their government and they are not gonna be easy to negotiate with since they are always asking for huge amounts of money for some local exchange to establish there. As for partnerships, they will just simply go for the nations that already have some successful relations with crypto and invest right there rather than taking the risk of investing in such countries where they can't even assure their profit.

[DanWalker]

I am a bitcoin enthusiast and I wish to spend some of my bitcoins instead of fiat. Unfortunately, I am unable to do so because of its slow pace of acceptance in my country. I really want to promote the bitcoin circular economy but I can't. I dream of  day in my country where I can earn in bitcoin and spend in bitcoin. I dream of the day where, even though I need to keep my bitcoin secure in a cold storage, I can still have say $100 worth of BTC in a hot wallet that I spend to buy goods and services from people who accept bitcoin. The idea will be to spend from this hot wallet for purchases while promptly replacing it. That is, after spending the $100, I simply buy another $100 worth of Bitcoin to refill the hot wallet. I remain optimistic that my dream will eventually come true in my country. In the meantime, I would be happy to hear the experiences of bitcoiners who are already living my dream bitcoin circular economy in their country. What is it like for you?

Bitcoin is not capable of fulfilling your dream because it's not ready for massive usage. Have a look at what happened when ordinals started minting NFTs on bitcoin blokchain. They were regularly minting and creating tons of transactions on bitcoin blockchain and this caused clogging of mempool. In result, we got enormously high transaction fees. Now imagine, if Bitcoin becomes popular (forget ordinal attack), how will you be able to pay with it? Massive adoption and usage means massive transaction fees since developers aren't going to increase bitcoin block size. It's easy to make that dream reality with centralized system inside the country but that's against the whole purpose of having a decentralized p2p currency.

Even if bitcoin is used as a currency and replaces fiat, with the current fees per transaction, I really want to know how many people will use it for everyday transactions. Many people have the same dream as the OP, but they don't care what the pros and cons of the bitcoin network are and whether it is really suitable to become a currency. I even remember many people who were accumulating bitcoins also complained about bitcoin transaction fees being too high and that it was costing them quite a lot of unnecessary expenses. So how can people use bitcoin to pay bills like coffee, bananas, soap...