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    Author Topic: No one ever sells, nor buys anything in BitCoin.. Think this is wrong, read on!  (Read 1075 times)

    • Distinctin
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    January 16, 2020, 12:45:34 PM
     #41
    If Bitcoin will be accepted in our place I suppose to use it but unfortunately, it won't that is why most of our countrymen who have been in here for crypto will convert it into fiat money for us to make use of it. May the other countries will do the same.

    We are still developing the crypto market, and yet to consider that it needs more time for it will finally be accepted and considered as currency. I may say, we are still far from that.

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  • crwth
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    January 16, 2020, 12:48:25 PM
     #42
    Are you just explaining how you could buy Stuff and not think about the current price that it has? I think we all have to understand that the value of bitcoin is what ”we” give it. It's just like fiat, it's paper but with the amount, because we intend to give its value.

    I think this is one of the advantages of Bitcoin, where the price would fluctuate, and you would take that into an advantage to profit from. It's all in the strategy.

    If you are accepting/selling Bitcoin, then you are Buying and using Bitcoin. Don't put too much thought on it.
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  • Polar91
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    January 16, 2020, 12:59:06 PM
     #43
    Quote from: kro55 on January 16, 2020, 12:41:43 PM
    That’s really interesting fact. The main reason for this is bitcoin price volatility. Bitcoin is still valued in US dollar and its own value is yet to come. Things like house rent in bitcoin can be materialized if we have a stable bitcoin who has value independent of US dollar.

    This could probably happen for a longer time, for now, bitcoin is evidently supported by fiat where people keeps finding a standard to check the currency market price of bitcoin. And since dollar is the most preferred, it will be seen to abide bitcoin whenever people wants to view its condition. Though, if we could really make bitcoin the number one currency in the world, people will start to see the value of it by buying things strictly through bitcoin and without considering its conversion to dollar.

    But IMHO, I want bitcoin to stay the same, because I could take advantage of it to gain profits out of the market.

  • Amel
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    January 16, 2020, 01:31:39 PM
    Last edit: January 16, 2020, 01:55:29 PM by Amel
     #44
    Alright, this is like if you buy something abroad, it is not possible for you to pay in a currency in your country, if you can, you will need a third party to convert it later. We take the example, for example buying item A in the US for $10 then the price is only as a reference, it could be that the price will be more expensive or cheaper, it depends on the ups and downs of the value of your country's currency against the dollar. It's the same with bitcoin and dollars, dollars are just a reference, unless you spend it on someone who is a bitcoin fan too, maybe it won't be converted.

  • bangjoe
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    January 16, 2020, 01:47:22 PM
     #45
    fluctuations and regulations are still a strong reason for now, I'm not too worried about that because the movement of bitcoin is also logically only suitable as an asset. If taken from the point of view of the product seller, or apartment tenants are also still very risky, it is very different if they end up using crypto that is really stable as a solution.

  • HardFacts (OP)
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    January 16, 2020, 02:02:59 PM
     #46
    Quote from: meanwords on January 16, 2020, 02:12:13 AM
    I do use Bitcoin to pay my bills and other expenses using a third wallet app or buy something from an online store, what the fuck are you saying?  Huh


    Sure, I would be willing to pay in Bitcoin instead when the world have regulated it to the point of stability, it's not like Bitcoin will stay volatile forever.  Roll Eyes



    You are not to smart are you Huh   Lets see if you can understand some grade school level English....

    1.   You are not buying in bitcoin, you are converting your bitcoin to US Dollars and purchasing with US Dollars.

    2.   So you are NOT willing to pay your rent in bitcoin, but you are to dishonest to admit it, so you try to deceive everyone.   Saying that you will pay rent in bitcoin when some unobtainable condition is met is NOT going to fool anyone.     Hey, I will give you 1 Bitcoin when pigs fly, and you can count on it  Grin Grin Grin      Your response exposes you for the dishonest con that you are..

    WARNING:  No one should ever listen to a guy like this for financial or other advice, do so at your own risk.

    Hard Facts

  • ice098
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    January 16, 2020, 02:03:37 PM
     #47
    Quote from: Distinctin on January 16, 2020, 12:45:34 PM
    If Bitcoin will be accepted in our place I suppose to use it but unfortunately, it won't that is why most of our countrymen who have been in here for crypto will convert it into fiat money for us to make use of it. May the other countries will do the same.

    We are still developing the crypto market, and yet to consider that it needs more time for it will finally be accepted and considered as currency. I may say, we are still far from that.
    Yes I am agree to you. Cryptocurrency are still needs a lot of improvement because there things that the fiat can do but the crypto cant and there are things that the crypto can do but the fiat cannot. Like for example the volatility of the cryptocurrency. In reality this cant be approve but the government because if we use bitcoin for example in our daily needs it wont lasta and especially more peoole will get poor because of its volatility. Sometimes its price rises but more often it flactuates.

  • HardFacts (OP)
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    January 16, 2020, 02:08:09 PM
     #48
    Quote from: Amel on January 16, 2020, 01:31:39 PM
    Alright, this is like if you buy something abroad, it is not possible for you to pay in a currency in your country, if you can, you will need a third party to convert it later.

    ABSOLUTELY WRONG !!!!

    In foreign countries, rents, salaries, food etc is priced in their currency.    These things are NOT, NOT, NOT priced in bitcoin anywhere on the planet.    As hard as you try to convince yourself, it is just not true.  WISE UP.

    Hard Facts

  • topbitcoin
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    January 16, 2020, 03:05:39 PM
     #49
    For buy and sell, i think seller and buyer must know the risk if they accept bitcoin or use bitcoin. And it happen with my friends, i have 2 friend that do transaction with bitcoin, and only in 2 days bitcoin price pumped. My friend who be buyer actually regret, but nothing that they both can do.

  • julius caesar
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    January 16, 2020, 03:37:56 PM
     #50
    I think some merchants does not want to accept bitcoin as payment because they do not even know what it is. Also, maybe the government is not allowing bitcoin to be part of the transaction because they are might be afraid that bitcoin will replace their fiat money. But in fact, bitcoin will help their economy to grow even more and make the transaction of every merchants faster than before.

  • isaac_clarke22
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    January 16, 2020, 03:47:49 PM
     #51
    Yes, it is indeed like that because let's accept the fact for now that there ain't majority of establishments using Bitcoin and paying Bitcoin to replenish their supplies or merchandise. It's like we should aim for 95% adoption before every single establishments uses and accepts Bitcoin and they won't convert anymore to fiat.

  • airdnasxela
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    January 16, 2020, 04:04:18 PM
     #52
    We have different perceptions and how we're going to handle our bitcoins. Those sellers that accepts Bitcoin and immediately convert it with fiat, maybe they don't really want to invest in bitcoin. Maybe they just accept Bitcoin, because their customers want it. They have to go with the demand. While other merchants who accept Bitcoin might really are into Bitcoin. Investing in Bitcoin is already a risk, and it's more risky for businesses because they might end up losing profits so there's nothing wrong if they want it that way

  • cotton ball
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    January 16, 2020, 04:16:16 PM
     #53
    How come is happen where no one ever selling and buying bitcoin, what for so far keep holding bitcoin and why not sell after raising with higher price, maybe you made big mistake with your mind and wake up because no one want loss their money in bitcoin and keep selling although bitcoin have lower price, who want loss their money without selling bitcoin assets?

  • The Sceptical Chymist
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    January 16, 2020, 04:28:30 PM
     #54
    Quote from: gentlemand on January 15, 2020, 08:42:05 PM
    Overstock were keeping some of their income in BTC. Protonmail have kept all of the BTC they've received uncoverted.
    Yeah, I was thinking of overstock.com when I read the OP and I'd also read something recently about protonmail doing likewise.  If I'm not mistaken, Veldt Gold takes payment in bitcoin outright and doesn't use a payment processor, which they probably have to do since they buy metals for bitcoin and have to have some crypto to pay out to people.

    I don't think it matters all that much if merchants don't want to keep the bitcoin their customers pay.  Offering the option for people to pay with crypto is important to the crypto economy.  And it's not like this is breaking news here.  It's been known since the beginning that merchants don't actually receive the bitcoin that customers pay with.
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  • imstillthebest
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    January 16, 2020, 04:34:35 PM
     #55
    Quote from: cotton ball on January 16, 2020, 04:16:16 PM
    How come is happen where no one ever selling and buying bitcoin, what for so far keep holding bitcoin and why not sell after raising with higher price, maybe you made big mistake with your mind and wake up because no one want loss their money in bitcoin and keep selling although bitcoin have lower price, who want loss their money without selling bitcoin assets?

    i guess you didnt read properly what op said . if im correct the op means selling and buying items or services  not buying or selling cryptos ( btc )   . btc is not stable and being unstable adds a problem for buying and selling using a btc  . that is why he thinks that it would be better if people convert thier btc to fiat before spending it but for me , im happy using bitcoin directly as long as its accepted on the store that im shopping with  . converting my btc to usd will also depend on the value of btc  .

  • Twentyonepaylots
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    January 16, 2020, 04:57:15 PM
     #56
    Quote from: bangjoe on January 16, 2020, 01:47:22 PM
    fluctuations and regulations are still a strong reason for now, I'm not too worried about that because the movement of bitcoin is also logically only suitable as an asset. If taken from the point of view of the product seller, or apartment tenants are also still very risky, it is very different if they end up using crypto that is really stable as a solution.
    Bitcoin in itself is not fully adopted just yet and everyone is just A-OK with it. It's not like those people you have spent your bitcoins on can use it to invest on bitcoins too anyway. The market is too volatile and it is definitely something you wouldn't want your currency to do. Give it a few more years or until bitcoin's much more stable and well-adopted, that way you can guarantee that bitcoin and solely bitcoin is being used for these purchase and services you take advantage of

  • icewitch0612
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    January 16, 2020, 05:01:00 PM
     #57
    Because not enough stores and companies accept bitcoin yet. As soon as bitcoin becomes more popular, this will change.

  • HardFacts (OP)
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    January 16, 2020, 05:09:37 PM
    Last edit: January 16, 2020, 05:20:34 PM by HardFacts
     #58
    Quote from: gentlemand on January 15, 2020, 08:42:05 PM
    Not exactly an earth shattering insight.

    Overstock were keeping some of their income in BTC. Protonmail have kept all of the BTC they've received uncoverted. Plenty of other places won't have a choice. Every expense to put whatever in front of you is costed in fiat with their tiny margin on top.

    I pay for plenty of things with it too. What they do with it is up to them.

    No matter how much you want to convince yourself of something, REALITY and TRUTH are the only things that matter...   The fact that you WANT to believe something to the point of ignoring reality is pure stupidity on your part.

    1.  OVERSTOCK does NOT, NOT, NOT price anything in Bitcoin.   Weather they choose to keep some of their income invested in bitcoin has nothing to do with how they price things, and pay their bills, which is in US DOLLARS.

    2.   You may pay for some items in bitcoin, but it is PRICED in US Dollars, and the merchant is simply converting the bitcoin for you.   No merchant is PRICING, and PAYING for his stock in Bitcoin.    

    This is grade school level stuff here, merchants are simply going to the expense and doing the work to convert your Bitcoin into US DOLLARS in order to get your business.   Having to do this conversion from BitCoin to US Dollars is NOT easier, NOT cheaper, and NOT the more efficient way of transacting that bitcoin was promised to provide....  WISE UP.  

    Hard Facts

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    January 16, 2020, 05:25:12 PM
     #59
    Quote from: Ucy on January 16, 2020, 09:38:37 AM
    Bitcoin is a unique currency. It's not meant to be like fiat.
    One of the reasons it was created is to address the fiat inflation problem. Besides, if you remove the deflation feature you could aswell remove other important features when it suits you.

    I think applications built ontop Bitcoin could be used to address some of the challenges or perceived problems of Bitcoin instead of trying all the time to change Bitcoin or even trying to control it centrally.

    You could create a special marchant application to keep Bitcoin price stable for only the application users... while price continues to remain volatile on main markets. The app could be built to wrap Bitcoin around stablecoin like tether. And the normal Bitcoin symbol (with small "s"... s for stable) could be used on the price tag.    With this app, a 10,000 worth of car could be tagged at "10,000sBTC".    When a car buyer sees a Bitcoin symbol, that should be slightly different from the normal Bitcoin symbol, he/she knows it is for Stable-Bitcoin. He downloads the payment app and makes payments.
     The seller can set the app to unwrap the bitcoin back  to the normal volatile market value.

    Yes, bitcoin is the complete alternative of fiat. Also it is addressing the problems for which it was created. It was meant to deal with the financial problems of people who are not stable much. If we look at its today progress it is playing its role very well. If we talk about the challenges faced by this, then challenges are the part of every business. Creating applications is a better idea to treat the challenges.

  • HardFacts (OP)
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    January 16, 2020, 06:29:53 PM
    Last edit: March 15, 2020, 08:38:22 AM by mprep
     #60
    Quote from: huige007 on January 16, 2020, 05:25:12 PM
    Also it is addressing the problems for which it was created. It was meant to deal with the financial problems of people who are not stable much.

    ABSOLUTELY WRONG !!!

    Bitcoin is hugely unstable, the price changes many times faster than fiat currencies.   The only Fiat that is more unstable than bitcoin is a fiat that is in UTTER COLLAPSE, like Venezuela...

    Those that bought BitCoin at 20,000 or 14,000 recently are in MORE financial problems.


    How dumb can you be ?


    Quote from: sunsilk on January 15, 2020, 08:30:48 PM
    It is realized and understood by everyone here. The pricing are in dollars and converted to bitcoin for payment. Bitcoin should be used as a currency because that's the main feature of it,

    Given some of the statements, it is NOT understood by a lot of people here   Grin Grin Grin Grin

    So the promise of BitCoin as a currency is that it should be HARDER, MORE TIME CONSUMING, and MORE EXPENSIVE to use  ?   
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