What's your opinion on using Bitcoin to get an IPhone?

[Ambatman]

The topic it's quite generic I know just curious after having a conversation that circled around this area.

Supposed there's a marketplace where devices are sold (let's use this first)
And they accept Bitcoin and Fiat.
What's your thought on someone that chooses to use their Bitcoin to buy an iPhone?

Lol I used an iPhone because it's one of the most compared when it comes to Bitcoin and what people tend to buy.
And I wanted to see perspective when luxury spending is on the line.

[blockman]

Let's say that I can afford to buy it but that's going to cost a lot on my holdings. As much as I would like to have one, this is what I remember for this type of purchase.



I think that I'll wait for a couple of years until I'll be able to afford that. On this type of economy, I'll have to save and put the needs first. But if you can afford it and that's going to make you happy, that's one of the reasons why we invest and that's to afford things and become happy with that purchase and by owning one of the latest releases.

[BitMaxz]

I don't see any problem using Bitcoin as your payment mode to buy an iPhone. We do have some shops locally here that also accept crypto as payment.

Are you going to buy an iPhone in the goods section? I don't see any problem with that; the only problem is BTC price isn't stable, and you still need an escrow to avoid scam and if you can't trust the seller.

Selling and buying devices here in our forum is pretty common, and we mainly use Bitcoin as the payment mode.

[PrivacyG]

If you want it, get it.  Purchasing an iPhone using Bitcoin is not about Bitcoin but about whether you actually want or need it.  My opinion is that Apple is using any thing possible to increase their profits by even 0.5 percent, even if that means their customers will be less happy, because their customers are too loyal to give up on them and will continue to pay or even get in pretty big debt to get their most recent release.

You can use Bitcoin to get Monero, a laptop to sync the Bitcoin Blockchain faster, an iPhone or even a prostitute.  A decision can be more or less rational.  In my opinion.  Limiting your self to 'never selling Bitcoin at all' means you will never actually get to live and enjoy the advantages of this economy.  What is the plan, die before your Bitcoin is sold?  Then why hold Bitcoin, to some body who thinks that way I would say spend the money instead and enjoy life, it is short any way.

[Ambatman]

I'd also add that there is network fees and that buying with bitcoin will cost you by 5-15% more always

Not really true
Yes there's a network fee especially through on chain
But it's not a fixed percentage
It's based on transaction size data and congestion level
$5000 can go for $5 and $1000 might even go for $20.

Let's say that I can afford to buy it but that's going to cost a lot on my holdings. As much as I would like to have one, this is what I remember for this type of purchase.

And this was why I used an IPhone as an example.
Imo if we too fixated about the future benefit what about the now
Or about using Bitcoin as a medium of exchange even if it might have it's own issues.

[Egii Nna]

The topic it's quite generic I know just curious after having a conversation that circled around this area.

Supposed there's a marketplace where devices are sold (let's use this first)
And they accept Bitcoin and Fiat.
What's your thought on someone that chooses to use their Bitcoin to buy an iPhone?

Lol I used an iPhone because it's one of the most compared when it comes to Bitcoin and what people tend to buy.
And I wanted to see perspective when luxury spending is on the line.

This will depend on who the person is, if he hold a big stash of bitcoins then using a fraction of it to buy an IPhone is not bad since he can well afford it, but for someone that doesn’t have that much then it will be an unwise decision to use part of his holdings to buy a liability especially when he does not really need it since he might have a good working phone already but it is his money and he can choose to do anything with it.

Also is this not going to put in the the risks of a wrench attack? Because the seller will know you have some bitcoins and he will assume it is plenty and the phone has to be delivered to you meaning he can do anything with that information if he is a bad person.

[_act_]

I can use bitcoin to buy a phone. I mean an expensive phone, but I can add up to my bitcoin holding at anytime.

Anything that will also make me get an expensive phone, know that I want to use the phone to make money as I use phone and laptop for some businesses, but the phone is not an iPhone.

I can use bitcoin to buy an iPhone, but that does not mean I use all my bitcoin to get the iPhone. Also I can later use the money that I made from the work I use the phone to do to buy some bitcoin and buy some other things.

[coinlary]

It's their  money actually, whether they  spend it in fiat or they  directly spend their  Bitcoin for the purchase, it makes no difference  so far they  need to spend their Bitcoin to get it .

Left to me, I can get it directly with Bitcoin without  going through the stress of changing it to fiat, it only make a difference when there's  an alternative in fiat which ca be used in place of the Bitcoin.

The only thing that needs to be checked and noted is if such transaction won't compromise your privacy, exposing you to risk if you have a good amount of Satoshis.

[Moreno233]

If there is a shop that accepts Bitcoin, then it will be a pleasure to buy iPhone using Bitcoin as that demonstrate one of the use case of Bitcoin. I don't condemn people who spend their Bitcoin because Bitcoin was created to serve the same purpose that fiat does, hence people should be able to use it as payment for goods and services because that is what strengthen the Bitcoin network. Like I said, if I want to buy iPhone and there is a shop that accept Bitcoin, I will be happy and proud to pay with Bitcoin.

[Royal Cap]

Why does everyone talk about holding Bitcoin, but its main purpose was to transact as a digital currency. If someone buys their favorite IPhone with 5-10% of their previously saved Bitcoin, then I don't see any problem. At the end of the day, what is the point of saving wealth if it is not actually useful for fulfilling any of your needs or hobbies. Although buying an iPhone with Bitcoin at this price is beyond my means now, because my BTC portfolio is not much strong now.

[Nwada001]

I don’t see anything bad with that approach. If an online store for gadgets actually exists where we can easily buy things using Bitcoin, then it’s a yes for me. I have used a local phone dealer shop that accepts crypto. I used USDT to pay for the gadget I purchased, which was nice; it saved me the hassle of trying to convert from fiat to local currency, and for the online store, it will save us the international charges deducted from our card to process such payment.

But where such transactions will look the other way in the next 5-10 years from now is if someone is going back to his transaction history to check how much that unit, which was paid for that gadget, is worth; they might regret their action, while in reality it’s the same thing with converting bitcoin to any currency before a purchase.

[tabas]

In my opinion.  Limiting your self to 'never selling Bitcoin at all' means you will never actually get to live and enjoy the advantages of this economy.  What is the plan, die before your Bitcoin is sold?  Then why hold Bitcoin, to some body who thinks that way I would say spend the money instead and enjoy life, it is short any way.

This sets the reality but I think that depends on the amount that we hold. If we can spare an amount to buy this model and it's not too heavy, I'll do it. I am sure that we even spent on the lower price of Bitcoin in the past and more from the holdings that we own. We will never know if we're still here tomorrow and I agree that if he wants to get it, then there's no need to think twice but take it. The transfer fees won't really matter at all when they're just a couple of cents to a couple of bucks. And if that's me, I'll buy it but I will give a disclosure to the shop not to show my face if they want me to put in their social page as proof of purchase done through Bitcoin.

[Mia Chloe]

The topic it's quite generic I know just curious after having a conversation that circled around this area.
What's your thought on someone that chooses to use their Bitcoin to buy an iPhone?
Lol I used an iPhone because it's one of the most compared when it comes to Bitcoin and what people tend to buy.
And I wanted to see perspective when luxury spending is on the line.

First of I'd like to commend the Apple ecosystem for their solid strength in marketing strategy. Anyway that aside buying an iPhone is not wrong it all depends on your financial conditions as an individual because sometimes having enough to buy someone doesn't really mean you can afford it.

If you have some bitcoins and wish to sell at this point fine you can go ahead it ain't a bad thing besides it's still eventually gonna be spent at some point in time regardless.

[Dogedegen]

Depends on the situation, but also the first question is if the purchase can be made without providing an identity. If an identity needs to be given, then I am not going to use Bitcoin because that is hurting my privacy instead of helping me. If an identity does not need to be provided, then I would consider Bitcoin but it would still depend. When it comes to larger purchases that are done in person we must remember that we are revealing that we are Bitcoin holders to the other person, and this could have consequences if we are unlucky.

I prefer to stick to lightning and small transactions, so I would pay in some restaurant if they accept Lightning and I love that experience. Sometimes if we are lucky when we travel somewhere we can find places that accept it. But for larger purchases I try to stay away because there is not a big benefit there for me. If you are asking more if Bitcoin gains could be used to buy an iPhone then that is a different thing. Do you have need for such an expensive phone, like a true need as a heavy user? If you don't it is best not to waste money like that or at least try to get the cheap entry model.

Let's say that I can afford to buy it but that's going to cost a lot on my holdings. As much as I would like to have one, this is what I remember for this type of purchase.

I think that I'll wait for a couple of years until I'll be able to afford that. On this type of economy, I'll have to save and put the needs first. But if you can afford it and that's going to make you happy, that's one of the reasons why we invest and that's to afford things and become happy with that purchase and by owning one of the latest releases.

The image does not apply if you replace the Bitcoin that you spend, it is a bit overused because many people just spent without replacing.

[Obari]

The topic it's quite generic I know just curious after having a conversation that circled around this area.

Supposed there's a marketplace where devices are sold (let's use this first)
And they accept Bitcoin and Fiat.
What's your thought on someone that chooses to use their Bitcoin to buy an iPhone?

Lol I used an iPhone because it's one of the most compared when it comes to Bitcoin and what people tend to buy.
And I wanted to see perspective when luxury spending is on the line.

As long as he already made up his mind to buy the iPhone, the mode of payment shouldn't be of interest again because wether he pays with fiat or bitcoin, money is been spent.
Bitcoin is met to be a digital currency which is met to be spent but the volatile nature have given room for people to rather hold it so it can increase in value but whatever the case might be, I think it is normal for one to make payment for a purchased product with bitcoin over fiat and don't also forget that, some people also hold the discretional funds in BTC so when you see such people spend BTC, that does not mean that, they're spending their savings.

[Powerjumboo]

The topic it's quite generic I know just curious after having a conversation that circled around this area.

Supposed there's a marketplace where devices are sold (let's use this first)
And they accept Bitcoin and Fiat.
What's your thought on someone that chooses to use their Bitcoin to buy an iPhone?

Lol I used an iPhone because it's one of the most compared when it comes to Bitcoin and what people tend to buy.
And I wanted to see perspective when luxury spending is on the line.

I will never worry about what others are doing. I will always worry about what I am doing. Now someone else can sell everything and buy an iPhone, but I will never sell anything of mine and buy an iPhone because right now I have no need for an iPhone. I can fulfill my needs with my ordinary mobile. Especially if right now I am asked to sell some amount of Bitcoin to buy an iPhone, I will never accept it because selling Bitcoin to buy an iPhone is the same as creating a means of crying for the future because the Bitcoin with which I buy an iPhone now, maybe ten years later, with that amount of Bitcoin, maybe a bungalow house can be built, but this is exactly what has started happening. So before taking any decision, one should think, no decision should be taken with emotions because emotions do not remain the same forever.

[SatoPrincess]

I’m not one of those zealots who believe hodling bitcoin forever is the only right thing to do as a bitcoiner. Asides its volatility, bitcoin is also a currency, and should I find a business that willingly to accept bitcoin as a payment method and I can afford it, there is nothing wrong in trading your bitcoins.

[EL MOHA]

I will never worry about what others are doing. I will always worry about what I am doing. Now someone else can sell everything and buy an iPhone, but I will never sell anything of mine and buy an iPhone because right now I have no need for an iPhone. I can fulfill my needs with my ordinary mobile. Especially if right now I am asked to sell some amount of Bitcoin to buy an iPhone, I will never accept it because selling Bitcoin to buy an iPhone is the same as creating a means of crying for the future because the Bitcoin with which I buy an iPhone now, maybe ten years later, with that amount of Bitcoin, maybe a bungalow house can be built, but this is exactly what has started happening. So before taking any decision, one should think, no decision should be taken with emotions because emotions do not remain the same forever.

At first read the question wasn’t clear to me, I thought the OP only asked about using bitcoin as payment option only to buy bitcoin and my answer straight away was that it should be the best thing to do because this can be much easier than using fiat which goes through remittance and we know the problems sometimes associated with using it.

But on a second read most especially the last paragraph, I think OP means using my already invested bitcoin which I am holding for buying an iPhone and with this I say I have my plans mapped out, my bitcoin holdings aren’t for any of this. But if I have extra fiat which I had earlier plan to use to buy bitcoin i will gladly do that by buying bitcoin with that fiat currency and then proceed to buy the IPhone.

[Alphakilo]

The topic it's quite generic I know just curious after having a conversation that circled around this area.

Supposed there's a marketplace where devices are sold (let's use this first)
And they accept Bitcoin and Fiat.
What's your thought on someone that chooses to use their Bitcoin to buy an iPhone?

Lol I used an iPhone because it's one of the most compared when it comes to Bitcoin and what people tend to buy.
And I wanted to see perspective when luxury spending is on the line.

Point blank: I would only spend some of my Bitcoin investment to buy the iPhone if majority of my funds are held in Bitcoin and that means I have been accumulating for a few years now. I would still get to convert my Bitcoin to my local currency if I have to make the purchase because I think it would be cheaper in my local currency. I don't see Bitcoin as a disposable cash because it gains value overtime as compared to my local currency that losses value overtime.

So, if I have been consistently accumulating Bitcoin over the years that in this season where we currently experience a bit increase in the price of Bitcoin, it means am quite safe and can afford to spend my Bitcoin on getting that iPhone. It doesn't stop me from being consistent in my accumulation plan, nor does it for sure empty my Bitcoin portfolio, that's supposing I have accumulated enough over the years and there is still some more to go before I liquidate my Bitcoin investment for another goal I intend to achieve by diversification or reinvestment or taking profit. Otherwise it ain't worth it.

[Botnake]

I don't see anything wrong with that. As long as you are using your bitcoin for something worth valuable and useful on your part, then stick with that plan. Bitcoin is not just intended to buy and hold, you should also make use of it as a payment option at some point of your life to reward yourself, or let's say to buy something which is in your bucket list. Just make sure that you are dealing with a reliable person, so you can protect your wallet and your bitcoin from future scams.

An Iphone may be quite expensive especially if you avail the latest unit, but I think that's one of the reasons why you enter bitcoin investment, to make yourself afford on something luxury for you, to make those expensive things for you in the past become affordable for you at the present.