Tilting Towards the Physical

[coyhasmon]

We can't deny the fact that Bitcoin is a great companion when it comes to trade involving a lot of a variety of commodities, as the case maybe, but rarely physical.

Have you ever purchased a physical commodity using Bitcoin? What's your experience?

Of course you can, it is quite easy in many countries. Cars and real estate are the most common purchases. You can look for sellers that are already willing to accept it or you can ask them. Often they won't want it, but sometimes someone will say yes. My experience with buying a car was pretty easy, I encountered no issues.

[Samlucky O]

Have you ever purchased a physical commodity using Bitcoin? What's your experience?

Snip

Are you sure that Laszlo Hanyecz would have held his bitcoin beyond $5 - $10 before selling off? Like other OGs who sold early. Most early hodlers won't have their coins up to this time without selling and rebuying. So it won't be a waste of bitcoin if you use it to buy something needful especially when you don't have any other means of sorting your bill.

Actually no one knows how it would have been wether he would have HODL or sold his Bitcoin at $5 or $10 price like other OGs, but I am just saying out of expirience. I know you are emphasizing on Laszlo case but everyone is not gonna be like Laszlo besides he did that when Bitcoin has no value yet. I believe apart from the fact that he sold some Bitcoin back then, he should have some more that could have  increased over time. But nevertheless all I am concerned is how to accumulate BTC and use fiat for transaction.

[Ndabagi01]

We can't deny the fact that Bitcoin is a great companion when it comes to trade involving a lot of a variety of commodities, as the case maybe, but rarely physical.

Have you ever purchased a physical commodity using Bitcoin? What's your experience?

Of course you can, it is quite easy in many countries. Cars and real estate are the most common purchases. You can look for sellers that are already willing to accept it or you can ask them. Often they won't want it, but sometimes someone will say yes. My experience with buying a car was pretty easy, I encountered no issues.

Using Bitcoin to buying physical commodities that are not really high in prices are not more common to people that have even used it before. Most of the places, you’ll get the answer that they don’t accept crypto payment, they don’t know how to use it or not interested in anything crypto. The system is still developing and so is the mass adoption gradually. Where you can see people accepting bitcoin for payment is when buying commodities that when even their worth is converted to fiat, it will be much that even the banks will notice an huge amount has entered into a customer’s account.

Most times, limitations of banks won’t allow such transactions to go through all immediately but with your seller having a Bitcoin wallet to receive funds, buying expensive commodities like house, cars has now become easier. You don’t need to be given receipt of payment as Bitcoin to be the means of purchase but the equivalent amount of fiat to the bitcoin sent will be used. Deals like this are fast but it is not yet rampant because only high class people still does it that own Bitcoin in their portfolios. I see big businesses in my country accepting it but not mostly publicly displayed. It will be an arrangement between you two privately to use that method of payment to pay for commodities.

[BADecker]

Tilting Towards the Physical


We really need a physical Bitcoin, and a method to make it into a practical currency.

[m2017]

We can't deny the fact that Bitcoin is a great companion when it comes to trade involving a lot of a variety of commodities, as the case maybe, but rarely physical.

Have you ever purchased a physical commodity using Bitcoin? What's your experience?

It was a great deal to buy pizza for bitcoin. Especially for 10,000 BTC.

I saw information online that there are BTC-bars, which means that you can buy at least a drink for bitcoin (in some places).

But 1st of all, hardware wallets come to mind, the manufacturers of which (any) accept payment in btc. This means that at least hardware wallets can be bought for electronic digital money. It looks a bit funny when hardware wallets are bought for bitcoin to store bitcoin, which can be used to buy (again) hardware wallets wallets. Like a vicious circle.

Well, if we recall the history of bitcoin, then many physical substances goods were sold on SilkRoad.

[@nn@_pen9]

We can't deny the fact that Bitcoin is a great companion when it comes to trade involving a lot of a variety of commodities, as the case maybe, but rarely physical.

Have you ever purchased a physical commodity using Bitcoin? What's your experience?

Not all countries allow Bitcoin transactions; some have strict regulations or even prohibit its use. Unfortunately, in my country I am not allowed to transact with Bitcoin. In my country, Bitcoin is considered a commodity and not a currency or legal tender. Yes, most likely if I need to buy goods or physical commodities if I can still afford it with my income I will pay more with my salary and if I want to buy something bigger than before, for example property or a house from my investment, if the profit is in accordance with the desire to buy a house of course I will sell my bitcoin for become fiat in the country where I live.

[2Pizza410000BTC]

We can't deny the fact that Bitcoin is a great companion when it comes to trade involving a lot of a variety of commodities, as the case maybe, but rarely physical.

Have you ever purchased a physical commodity using Bitcoin? What's your experience?

In my more than three years of experience, I have not purchased any real product directly with Bitcoin so far. One of the reasons for not purchasing any real product with Bitcoin is that Bitcoin is not legal in my country. Since Bitcoin is not legal in my country, I have not been able to purchase any real product directly from my country with Bitcoin so far. However, I transfer Bitcoin to my local currency through P2P and then I buy all the real products from my country. Currently, I am covering all my expenses with the money I earn from Bitcoin. I hope that in the future, if Bitcoin is legalized in my country and Bitcoin transaction facilities are created in this country, then I will definitely buy real products with Bitcoin and share my experience.

[AprilioMP]

We can't deny the fact that Bitcoin is a great companion when it comes to trade involving a lot of a variety of commodities, as the case maybe, but rarely physical.

Have you ever purchased a physical commodity using Bitcoin? What's your experience?

Have never done a transaction using Bitcoin because in my country Bitcoin is not a legal currency but as a commodity asset.

All this time Bitcoin has provided a lot of convenience. Therefore, I have no problem if it is not in physical form because Bitcoin is an electronic cash system and from the Bitcoin white book it makes me understand that Bitcoin is not the currency that I expect physically.

[Guccho]

In my more than three years of experience, I have not purchased any real product directly with Bitcoin so far. One of the reasons for not purchasing any real product with Bitcoin is that Bitcoin is not legal in my country. Since Bitcoin is not legal in my country, I have not been able to purchase any real product directly from my country with Bitcoin so far. However, I transfer Bitcoin to my local currency through P2P and then I buy all the real products from my country. Currently, I am covering all my expenses with the money I earn from Bitcoin. I hope that in the future, if Bitcoin is legalized in my country and Bitcoin transaction facilities are created in this country, then I will definitely buy real products with Bitcoin and share my experience.

I can feel related since I have not yet made any brick and mortar purchases of goods and services using Bitcoin. Most of them convert it into the local currency in their countries; in a lot of countries it is still illegal or non accepted. That is amazing you are already paying all your bills with Bitcoin. I believe that as more places incorporate Bitcoin as a means of payment in their day to day activities, then real world purchases made with it would be far more straightforward, and it would be interesting to see how such influence affects the way people adopt it into their respective lives.

[Doan9269]

Have you ever purchased a physical commodity using Bitcoin? What's your experience?

It is illegal in our country to use BTC as a medium of exchange, therefore these days it is rare to find a shop that accepts BTC. I have also never traveled abroad that supports Bitcoin payment, in conclusion, I have no experience whatsoever & hope that our country will accept BTC as payment someday.

Just for our personal safety, we had better be using the online platforms for the transactions we made and also if we are considering for the exchanges, we should make use of a decentralized exchange instead of a centralized one, because the CEX can be regulated through government policies and they are not best for our privacy, because they can reveal on what belongs to us and take effects on any information been provided on them at anytime, on government request.

[Iamgoat]

We can't deny the fact that Bitcoin is a great companion when it comes to trade involving a lot of a variety of commodities, as the case maybe, but rarely physical.

Have you ever purchased a physical commodity using Bitcoin? What's your experience?

Have never done a transaction using Bitcoin because in my country Bitcoin is not a legal currency but as a commodity asset.

All this time Bitcoin has provided a lot of convenience. Therefore, I have no problem if it is not in physical form because Bitcoin is an electronic cash system and from the Bitcoin white book it makes me understand that Bitcoin is not the currency that I expect physically.

All I can say is, I've recieved payments for jobs in USDT and also bought a very few things with the USDT, but I have never had any physical transactions with BTC. What i notice is, people over this side of the world are more interested in using USDT than the Bitcoin itself maybe because it is more stable than the Bitcoin and people are more acquainted to it for the single reason that it looks like the physical dollar itself in terms of the value.

I'm also wondering if the reason behind this, aside from..the volatility is because of the 0.000 figures people see on the bitcoin value which doesn't look attractive. Maybe once people start seeing the real value of the Bitcoin they're holding in dollar or in their own domestic currency. It will kind of make them feel at home to use bitcoin directly without having to convert it for normal transactions.

[peter0425]

We can't deny the fact that Bitcoin is a great companion when it comes to trade involving a lot of a variety of commodities, as the case maybe, but rarely physical.

Have you ever purchased a physical commodity using Bitcoin? What's your experience?

If someone has ever purchased a physical commodity using bitcoin, most likely it was still ordered online and still has to be delivered before the person is able to use or enjoy said physical commodity that was bought using bitcoin.

[Abiky]

We can't deny the fact that Bitcoin is a great companion when it comes to trade involving a lot of a variety of commodities, as the case maybe, but rarely physical.

Have you ever purchased a physical commodity using Bitcoin? What's your experience?

To be honest with you, there aren't many physical merchants/retailers accepting Bitcoin as payment method. At least, where I live. Last time, I went to a Subway and paid with BTC (through the Lightning Network). I have to admit the experience was great, especially when the payment went through instantly and almost free (little fees). If merchant adoption for BTC was higher, things would've been better. More people would get to know about Bitcoin out of curiosity.

Apart from that physical "commodity" (not sure if you can call food as such), all of my other purchases with BTC have been mostly online (digital items such as virtual VISA cards and gift cards). Hopefully, as Bitcoin continues to rise in price, more businesses would accept it as payment method. I mean, that was Satoshi's idea from the start. Right? To use Bitcoin as an alternative to Fiat. But with mainstream media and institutions labeling Bitcoin as the "next Digital Gold", I wouldn't expect things to change anytime soon. At least, it's better something than nothing.

[Sticky Bomb]

We can't deny the fact that Bitcoin is a great companion when it comes to trade involving a lot of a variety of commodities, as the case maybe, but rarely physical.

Have you ever purchased a physical commodity using Bitcoin? What's your experience?

About physical commodity, I have sold mine for payment in bitcoin, I had a lot of fiat at my disposal and when I upgraded to a new set of beddings and furniture, I sold the older ones_{which was not bad yet} to a trader colleague and requested my pay in bitcoin which he accepted and we transacted. I have never purchased a physical commodity in bitcoin, Although have had a couple of online transactions with it, physical commodity comes on a very rare occasion. I've not been opportune to experience that but I hope to someday, although I don't see that happening soon based on my location and the currency preference here.

[AprilioMP]

Have never done a transaction using Bitcoin because in my country Bitcoin is not a legal currency but as a commodity asset.

All this time Bitcoin has provided a lot of convenience. Therefore, I have no problem if it is not in physical form because Bitcoin is an electronic cash system and from the Bitcoin white book it makes me understand that Bitcoin is not the currency that I expect physically.

All I can say is, I've recieved payments for jobs in USDT and also bought a very few things with the USDT, but I have never had any physical transactions with BTC. What i notice is, people over this side of the world are more interested in using USDT than the Bitcoin itself maybe because it is more stable than the Bitcoin and people are more acquainted to it for the single reason that it looks like the physical dollar itself in terms of the value.

Apart from the USDT similar to the dollar itself, but I think because the people there can use Bitcoin or use USDT in transactions like the Fiat currency without prohibitions. That's good in my opinion.
If I can't use bitcoin and coins are stable in transactions because regulations do not allow. Even Bitcoin entered as a commodity asset and for me personally it was good because it could still make it an investment asset rather than prohibited at all not allowed.

[Mate2237]

I don't have an issue with it. I have always maintained that Bitcoin wasn't created by Satoshi for buying a piece of bread from the bakery next door. Bitcoin is for e-commerce. It's an electronic cash. It's a response to the fact that payments online have to pass through financial institutions. The internet doesn't have direct payments.

If I can't buy a cup of coffee with my Bitcoin, that's perfectly all right. There's cash for it. Cash remains the best form of money. Bitcoin is designed as the version of cash for internet commerce.

I agree with you this is what most persons even on this forum has not come to the realization that Bitcoin was not originally created to buy or sell in your every day market as the OP is trying do Bitcoin was designed to serve as a store of value in the digital space that and not nothing more



The OP may not be fully aware that there is actually a variety of things that you can actually do with Bitcoin as there are business today that has incorporated crypto as a means of payment you can pay bills, pay rents even book flight tickets with Bitcoin so Bitcoin can has also been made physical thanks to it innovative nature