Bitcoin Beggar experiment

[BitGoba]

I want to share an interesting experiment conducted by a YouTuber.
https://www.youtube.com/watch?v=DfDWubdqU5I
He went to Madeira a Portuguese island and autonomous region of Portugal , which, alongside the Swiss city of Lugano, is known as a place where Bitcoin is widely accepted and used as a means of exchange.

He decided to live in Madeira and pay exclusively with Bitcoin. Every time, he scanned the QR code Bitcoin wallet to make payments. Then, he shared that QR code on social media platforms like Twitter and Nostr, where people sent him Bitcoin donations as support and  paying bills.

This experiment perfectly demonstrates Bitcoin’s power as a truly censorship-resistant and borderless form of money. It shows how Bitcoin enables real financial sovereignty in everyday life, allowing individuals to transact freely and receive direct support from the community

Have you ever tried using Bitcoin exclusively for your daily expenses What challenges and benefits did you experience?

[Apocollapse]

It's all good only one person doing this experiment and not for long term purpose, imagine what if every citizen who live in a country where the merchants accepting Bitcoin  payment adopt this.

It would affect fiat, banks and government, we would see government ban Bitcoin as a currency.

This experiment perfectly demonstrates Bitcoin’s power as a truly censorship-resistant and borderless form of money. It shows how Bitcoin enables real financial sovereignty in everyday life, allowing individuals to transact freely and receive direct support from the community

The point is correct though, this videos must be watched by people who hate Bitcoin. Gold, stock etc are assets, but I'm sure they will be confused how to accept that as the payment. Bitcoin on the other give us choice, which can be used for investment or a currency.


Unfortunately.

7. No begging. [5]

[nemesis_incarnate]

I didn't (and probably wouldn't be able to) use BTC for everything convenient-wise, however, this "challenge" is an interesting one for sure.

And people even helped him along the way

[joker_josue]

Madeira Island has been promoting Bitcoin to attract businesses and investments. It's good to know that several companies accept Bitcoin as a form of payment.

As a Portuguese, I found this person's initiative interesting - although I don't agree with begging, at least it promotes the services of this Portuguese island that accepts Bitcoin.

Now, there's no need to do this by begging. I don't think it's a good idea, especially for people who don't really need it. But I understand that it's part of the experience.

Living solely off Bitcoin, I think, is possible today, even if you don't pay directly in BTC. The problem is that most of the time, it doesn't pay off unless you've organized your life for that situation, which isn't easy either.

[fikrett]

Madeira Island has been promoting Bitcoin to attract businesses and investments. It's good to know that several companies accept Bitcoin as a form of payment.

As a Portuguese, I found this person's initiative interesting - although I don't agree with begging, at least it promotes the services of this Portuguese island that accepts Bitcoin.

Now, there's no need to do this by begging. I don't think it's a good idea, especially for people who don't really need it. But I understand that it's part of the experience.

Living solely off Bitcoin, I think, is possible today, even if you don't pay directly in BTC. The problem is that most of the time, it doesn't pay off unless you've organized your life for that situation, which isn't easy either.

Many services may be paid in BTC, but I would say that living off of it is still not as convenient as it could be in the future to come..

[IIrik11]

Have you ever tried using Bitcoin exclusively for your daily expenses What challenges and benefits did you experience?

no, because no one locally accepts it

the only way to spend bitcoin for daily needs for me is to use sites like bitrefill

and purchase gift cards of services like amazon, phonepe, flipkart, etc.

or use it to recharge my phone and dth services

but it is not convenient and it costs too much

plus, to regularly spend bitcoin one also has to find a way to regularly earn it

otherwise buying bitcoin for spending it is too costly and it makes no sense

[Aanuoluwatofunmi]

He decided to live in Madeira and pay exclusively with Bitcoin. Every time, he scanned the QR code Bitcoin wallet to make payments. Then, he shared that QR code on social media platforms like Twitter and Nostr, where people sent him Bitcoin donations as support and  paying bills.

This experiment perfectly demonstrates Bitcoin’s power as a truly censorship-resistant and borderless form of money. It shows how Bitcoin enables real financial sovereignty in everyday life, allowing individuals to transact freely and receive direct support from the community

People quite alright knows him and this could be part of his dedicated followers who ha ben willing to see him continue with the use of bitcoin and how he has been so much committed to promoting and encouraging for others to follow same in using bitcoin for their day top day transactions.

Have you ever tried using Bitcoin exclusively for your daily expenses What challenges and benefits did you experience?

For now, each time am willing to spend my bitcoin, then i will have to exchange it to fiat as the use of bitcoin in my country is still not fully backup by government and you may hardly see where you can use it in buying and selling, despite the increasing rate of its adoption, majority exchange it for fiat.

[hero_the_bossman]

For now, each time am willing to spend my bitcoin, then i will have to exchange it to fiat as the use of bitcoin in my country is still not fully backup by government and you may hardly see where you can use it in buying and selling, despite the increasing rate of its adoption, majority exchange it for fiat.

The day to accept BTC itself didn't come fully in many places, but it will, imo.

As for now, we can still just hodl BTC in question and get it turned to fiat, albeit only if we really need it or to fix what we did for a good chunk of time: watching our BTC gain value.

[BitArtisan]

That’s a really inspiring experiment, it shows just how practical Bitcoin can be as a tool for everyday financial freedom. I had a similar experience while traveling through Berlin, especially in the Kreuzberg area. A number of cafes, bars, and small shops there accept Bitcoin, and I was able to pay directly from my wallet. It felt empowering to spend BTC in the real world, and the experience really drives home how Bitcoin isn't just a store of value, it’s also usable money when the infrastructure is there. Would definitely love to see more cities follow this example.

[SquirrelJulietGarden]

He decided to live in Madeira and pay exclusively with Bitcoin. Every time, he scanned the QR code Bitcoin wallet to make payments. Then, he shared that QR code on social media platforms like Twitter and Nostr, where people sent him Bitcoin donations as support and  paying bills.

He must work and do something for receiving money in a well-deserved way. If he is lazy but want to enjoy his life and beg for money through Bitcoin donation, it's shameful.

In addition, posting a Bitcoin public address on social media is very terrible for privacy and anonymity and it's not good practice of Bitcoin owners and users. This practice is not recommended for privacy and anonymity.

Bitcoin privacy resources for learning.
https://www.lopp.net/bitcoin-information/privacy.html

This experiment perfectly demonstrates Bitcoin’s power as a truly censorship-resistant and borderless form of money.

It does not prove anything about censorship resistance and it does not show how Bitcoin is better than bank transfer, fiat currency or altcoins.

[kotajikikox]

I want to share an interesting experiment conducted by a YouTuber.
https://www.youtube.com/watch?v=DfDWubdqU5I
He went to Madeira a Portuguese island and autonomous region of Portugal , which, alongside the Swiss city of Lugano, is known as a place where Bitcoin is widely accepted and used as a means of exchange.

He decided to live in Madeira and pay exclusively with Bitcoin. Every time, he scanned the QR code Bitcoin wallet to make payments. Then, he shared that QR code on social media platforms like Twitter and Nostr, where people sent him Bitcoin donations as support and  paying bills.

I am gonna have to watch the youtube video but I want to first put here my initial thoughts or questions. First of all, I wonder whether he was able to really go around and buy everything needed with just bitcoin. My concern would not be the lack of money but the lack of places who accept it. I know that if I were to do this experiment in my country, I would be able to buy almost nothing.

This experiment perfectly demonstrates Bitcoin’s power as a truly censorship-resistant and borderless form of money. It shows how Bitcoin enables real financial sovereignty in everyday life, allowing individuals to transact freely and receive direct support from the community

Have you ever tried using Bitcoin exclusively for your daily expenses What challenges and benefits did you experience?

Good community but I am afraid that not genuine bitcoiners can use this kind of experiment to just gain bitcoin. I salute those who were able to give money. I guess they just want to support him since he is after all conducting an experiment. What question is he really trying to answer here: will the community give him money or does the country accept bitcoin enough?

[Marvelockg]

Many services may be paid in BTC, but I would say that living off of it is still not as convenient as it could be in the future to come..

the convenient and the ease with which people transact with the fiat is the reason why it is easier to work with the fiat rather than opt for the usage of bitcoin for normal transaction. when it is just an experiment that is carried out by a single individual, it is usually a different ball game compared to what is going to be the case if it is something that is done by the majority of bitcoin users and it direct affects the usage of fiat. once it gets to that point, the government will directly step in and try to regulate it in such a manner that it doesn't weep out the fiat from being relevant.

even though i am of a nation that has thousands of bitcoin users and enthusiast, it is not all too simple to make use of bitcoin freely for several reasons because to a large extent, the reliance on fiat for most transaction is what is common in all sectors and institutions.

[TheUltraElite]

Not sure about the begging part of this, but I will roll with it.

I can buy gift cards to quite a few of the merchants and then use that to pay for bills. I have ordered groceries, daily items, electronics and even packaged drinking water using the gift card money - which essentially is the converted bitcoin.

It would be much better if we can spend crypto directly through the merchants but that may happen long time in the future.

[joker_josue]

plus, to regularly spend bitcoin one also has to find a way to regularly earn it

otherwise buying bitcoin for spending it is too costly and it makes no sense

What you say makes sense, looking at Bitcoin in a linear way.

Buying, waiting for it to appreciate, and then spending isn't exactly expensive. Rather, it's a way to earn and spend without losing. Now, we know this isn't a given either. But for those who have been in Bitcoin for a long time and have held on, it now makes sense to spend.

Therefore, in some cases, it may make sense to buy and then spend. Not with the idea of buying and spending in the immediate term, but in the medium or long term.

[Patikno]

Have you ever tried using Bitcoin exclusively for your daily expenses What challenges and benefits did you experience?

Unfortunately, I haven't been able to try using Bitcoin exclusively for my daily expenses, because in my country it is not yet allowed to use Bitcoin as a medium of exchange or as a currency, so that is why I can't do it. However, I will definitely try it when it is allowed in my country, and if it is possible, then I will buy a vehicle using Bitcoin, and I have a dream that one day I will put a Bitcoin sticker or logo on my car, because I feel proud to have been involved in Bitcoin and have recognized it, and also because I believe Bitcoin will be a good future for its owner, oh god, I am really looking forward to that day coming, feel so proud to show the Bitcoin sign to people.

And regarding that, there have been discussion that my country will use Bitcoin as a strategic reserve, and I believe that will lead the way to make that what I am talking about to be happened.

Source : CNBCIndonesia (We need to translate it manually from Indonesia Language or Bahasa to English )

[mindrust]

It sounds like a torture tbh. It is pretty hard to live using only bitcoin in where I live. I would even say it is nearly impossible since no business can legally accept crypto for the products and services they offer. The government banned it sadly. Even if It wasn’t banned, I would still use my credit cards more probably. It is because i show my contactless card and it only takes a second to get a confirmation. Bitcoin is good for what it is, a store of value asset, but it is nowhere near credit cards as a payment method.

[Z-tight]

plus, to regularly spend bitcoin one also has to find a way to regularly earn it

otherwise buying bitcoin for spending it is too costly and it makes no sense

I agree with you on this one, i reckon that people who spend BTC often have either been holding their coins for a very long time or they are individuals who have skills and are paid in BTC for their services. It would be hard for people who take out of their salaries to buy BTC to then spend the BTC, they would rather spend fiat and hold their coins, and it makes complete sense.

[terrific]

Have you ever tried using Bitcoin exclusively for your daily expenses What challenges and benefits did you experience?

I don't since there is not that much support in the country where I live about payments in Bitcoin. So, that's the challenge there and it's the same with most places that they're dealing with lesser support for the merchants to accept Bitcoin.
The one of the many benefit despite this situation that I have received is none other than the appreciation of its value. The money that I've invested in became more valuable and appreciated in value.

Therefore, in some cases, it may make sense to buy and then spend. Not with the idea of buying and spending in the immediate term, but in the medium or long term.

I agree, spend not in an immediate period but maybe after holding it for sometime. Because the price will appreciate that time and will make most of the holders of it want to taste on how valuable it is during that period of time and it's not just about holding it forever.

[highalch]

I liked it, even watched the second part, but there's no way anyone could repeat this who's not an influencer

anyways, it's good to see there are more and more options in Funchal

[sheenshane]

Sounds funny about the influencer's name, Joe Nakamoto, perhaps claiming to be part of Satoshi Nakamoto's family. Well, that's an interesting video experiment, and I enjoyed watching it, but I have my doubts, what if the content is scripted and not true ?  Or maybe he's just a well-known social media influencer, which makes it easier for him to ask for donations like a beggar.

I haven't tried this in my country because there are no merchants yet that accept Bitcoin as payment, like a coffee shop.  Someday, if there is, I will try this experiment.