Would u pay in bitcoin?

[nicepumper]

Would you pay with an asset? because thats what BTC is so far.

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[Rub3n]

There are a few joints here in my home town that support BTC, including some good cafe's and bars.
I had a beer with BTC once but so far I am trying to keep it personal and not spend it.

[bitkilo]

yea depnds on the item

Read the thread before posting then your might know whats for sale.

[giveBTCpls]

Again thats the problem. Most people just hold, in hopes of making more cash. Why would you pay with Bitcoin if you barely have 1 BTC in the first place? If your were getting paid with BTC instead of fiat for your job, then that's something, because BTC wouldn't be such a rare thing to own. But while BTC is mostly achiveable by exchanging it for FIAT first, people don't see the point. It's like paying with a piece of gold instead of paying with something as mundane as FIAT.

But it is a visious cycle.

If people don't intend to spend bitcoin, noone will offer it as payment solution. Now if noone offers it as payment solution, it will not grow.

It is a chicken-egg problem and I think the community is doing just fine with spending their bitcoin!

Exactly, it's the snake that eats it's tail tale. We need to solve this, somehow, break free from this loop. But truth the told, who can afford paying with Bitcoin besides early adopters or already rich FIAT guys? Other than that and you are taking unnecessary risks that can have a serious impact in your life, wheres filthy rich guys can't afford paying with anything they want.

[Hash Master]

Paying in btc is awesome if you know a little math. Sure the bitcoin is the better option when we talk about online purchases, because it still saves your privacy and some bank transaction fees. But should be taken into consideration the exchange rate at the moment. If you want to buy something that costs $100, it should be 0.18 in btc. Summarizing this with the amount of time needed for your miners to mine one 1btc to the price per unit of electricity and see if paying in btc is reasonable at the moment of the purchase, I think.

[JorgeStolfi]

Paying in btc is awesome if you know a little math. Sure the bitcoin is the better option when we talk about online purchases, because it still saves your privacy and some bank transaction fees.

Check your math again... If paying in bitcoin through a bitcoin processor like Bitpay or Coinbase (which is the only option for most stores that "accept bitcoin"), there are two bank transfers: when you send money to buy bitcoin, and when the processor sends money to the merchant.

Bitcoin may be more economical than bank transfers for international payments.  Otherwise it is just a convenient option for people who have old cheap bitcoins and have decided to cash on the profit.  It may (or may not) save some money, compared to selling the bitcoins on an exchange and sending the money to the merchant.

[Svetla998XZ]

Paying in btc is awesome if you know a little math. Sure the bitcoin is the better option when we talk about online purchases, because it still saves your privacy and some bank transaction fees.

Check your math again... If paying in bitcoin through a bitcoin processor like Bitpay or Coinbase (which is the only option for most stores that "accept bitcoin"), there are two bank transfers: when you send money to buy bitcoin, and when the processor sends money to the merchant.

Bitcoin may be more economical than bank transfers for international payments.  Otherwise it is just a convenient option for people who have old cheap bitcoins and have decided to cash on the profit.  It may (or may not) save some money, compared to selling the bitcoins on an exchange and sending the money to the merchant.

In that case paying in btc for small purchases is completely meaningless.

[Hash Master]

Paying in btc is awesome if you know a little math. Sure the bitcoin is the better option when we talk about online purchases, because it still saves your privacy and some bank transaction fees.

Check your math again... If paying in bitcoin through a bitcoin processor like Bitpay or Coinbase (which is the only option for most stores that "accept bitcoin"), there are two bank transfers: when you send money to buy bitcoin, and when the processor sends money to the merchant.

Bitcoin may be more economical than bank transfers for international payments.  Otherwise it is just a convenient option for people who have old cheap bitcoins and have decided to cash on the profit.  It may (or may not) save some money, compared to selling the bitcoins on an exchange and sending the money to the merchant.

In that case paying in btc for small purchases is completely meaningless.

Sure it's not. I agree with JorgeStolfi. But holding the coins is also not a solution, hoping that the exchange rate will increase and people will get rich. Nothing too good is one-sided.

[Mobius]

Or are you considering international purchases? 

My OP was made because i was selling a bike on gumtree for $150 i think but also said half price if paying in bitcoin just to see what interest i got from it, not one person wanted to pay in bitcoin but everybody asked "what is it"? Some researched it and came back saying it just looked to hard for them to bother with. I know its not that easy to begin with and it made me think with all the money being put in to bitcoin why is it still not easy for the average joe?

Wow. I'm actually surprised no one took you up on that offer in order to save $75.

That really speaks volumes about the state of Bitcoin usability.

"speaks volumes" really? Do you know the term samplesize?

A real use case example with multiple people expressing interest and not a single person being able to take him up on his offer says a lot.

I'm not trying to make a statistical inference here. The fact that no one was able or willing to google 'buy bitcoin', buy some, and buy the guys bike and save 50% is not an ideal situation is it?

I would love to see a similar experiment repeated on a larger scale to gather more data. But in the mean time his original point of bitcoin not being easy to use for the average Joe holds true, does it not?

I think an offer for a 50% discount would likely be some kind of a scam because the costs associated with accepting other types of payments are not going to be that big, especially with selling a bike. The amount of the discount should always be less expensive then accepting non-BTC payments as the consumer and the merchant would share the cost savings.

Nah man not a scam just an old good bike i had that i didnt use anymore and thought it would be a good experiment to see if i could sell it for bitcoin. Same bike was selling on net for around $200 so i didnt think id have any trouble selling. It sure was an eye opener that most people dont know about btc and if they do then they dont want to give up their fiat.

Regardless if you are actually trying to scam others or not, most people will see it as a scam. If you were to offer a much smaller discount then you will have a much easier time selling it and will likely be able to sell it for bitcoin. If the buyer chooses to pay in fiat then you could simply convert that fiat to BTC via LBC or an exchange.

[DhaniBoy]

sometimes when we buy any item with bitcoin, there are a lot of discount we can get, as example if we buy laptop or gadget, we can get discount until 20%. If this is continues, maybe I will always paying anything with bitcoin, hopefully this is always happen when we shop ...

[JorgeStolfi]

sometimes when we buy any item with bitcoin, there are a lot of discount we can get, as example if we buy laptop or gadget, we can get discount until 20%. If this is continues, maybe I will always paying anything with bitcoin, hopefully this is always happen when we shop ...

I would like to know who is paying for those discounts.  The merchant, because he likes bitcoins?  Bitpay, to attract new customers?

One sad fact about bitcoin is that there is practically no reliable data on the bitcoin economy.  The few numbers that we have (such as the transaction statistics from the blockchain, and the trade volume at the exchanges) are hard to interpret because they may include large fraction of "fake" traffic, and/or miss a large fraction of the real traffic.   For example, we do not know how much Bitpay and Coinbase are processing per day, and what kinds of good/services dominate.  We do not know how many bitcoin owners there are, and how the bitcoins are distributed among them.

[meadefreling]

I certainly would prefer making payments in BTC because it prevent invasion of privacy.

[Datcracktho]

Yes, if I had enough BTC to spend.

[botany]

sometimes when we buy any item with bitcoin, there are a lot of discount we can get, as example if we buy laptop or gadget, we can get discount until 20%. If this is continues, maybe I will always paying anything with bitcoin, hopefully this is always happen when we shop ...

Up to 20%? Are you sure? I didn't realize that the margins on laptops was so high. 

[JorgeStolfi]

sometimes when we buy any item with bitcoin, there are a lot of discount we can get, as example if we buy laptop or gadget, we can get discount until 20%. If this is continues, maybe I will always paying anything with bitcoin, hopefully this is always happen when we shop ...

Up to 20%? Are you sure? I didn't realize that the margins on laptops was so high. 

Someone just posted in another thread that Newegg is giving 30% discount on orders above 500$ paid in bitcoin.  Not confirmed but not denied either.

A good free-market capitalist should buy all their stock with bitcoin and then sell it on eBay with a 25% markup. 

Unless their plain (non-discounted) price already is 35% over the rest of the market, of course. 

[wasserman99]

sometimes when we buy any item with bitcoin, there are a lot of discount we can get, as example if we buy laptop or gadget, we can get discount until 20%. If this is continues, maybe I will always paying anything with bitcoin, hopefully this is always happen when we shop ...

Up to 20%? Are you sure? I didn't realize that the margins on laptops was so high. 

Someone just posted in another thread that Newegg is giving 30% discount on orders above 500$ paid in bitcoin.  Not confirmed but not denied either.

A good free-market capitalist should buy all their stock with bitcoin and then sell it on eBay with a 25% markup. 

Unless their plain (non-discounted) price already is 35% over the rest of the market, of course. 

No one that is rational would take you up on either of these offers. No one is going to sell you a cash like product (or something that can easily be converted to cash at a specific price) that is under the market value. Nor will anyone be willing to pay an above market value for this product.

The only exception to this rule is to get some level of privacy, however all transactions need to be reported in order for them to be valid so this would not apply.

[solsticez]

I'm not buying anything with bitcoins untill they will gain a stable price.

[itsAj]

sometimes when we buy any item with bitcoin, there are a lot of discount we can get, as example if we buy laptop or gadget, we can get discount until 20%. If this is continues, maybe I will always paying anything with bitcoin, hopefully this is always happen when we shop ...

I would like to know who is paying for those discounts.  The merchant, because he likes bitcoins?  Bitpay, to attract new customers?

If the discount is 20% then the merchant would be paying for it. They would offer this level of a discount to attract additional customer they would not otherwise be able to get to buy from them. They would likely be hoping to get people who would otherwise be holding bitcoin to spend some of their bitcoin at their store. Their margins would likely be large enough so these sales would not be money losers.

If the discount is closer to 4 or 5% then the credit card companies would essentially be paying for this discount. This would be reflective of the cost that it would cost merchants to accept credit cards plus the cost of chargebacks that merchants have to bear.

[BuluIdung]

I already bought some small thing with bitcoins, its not big issue to pay through bitcon.

[linxproz]

The fact that transactions are irreversible is still an advantage but also an disvantage when using btc to pay things in real life.