Do you use Bitcoin as a currency or just as an investment?

[Lucius]

It's no secret that Bitcoin is increasingly moving away from the idea of ​​a cryptocurrency in the direction of an investment asset, especially since companies offering spot ETFs started trading with it. It seems to me that there is a similar attitude among small investors, so I am interested in whether the members of this forum use Bitcoin only as an investment in the sense of "buy cheap, sell high", or there are also those who from time to time pay for some digital services with BTC or buy physical things.

I will say that I use BTC as a currency whenever I have the opportunity to do so, and that over the years I have bought a lot of physical things such as televisions, mobile phones, computers and the like and paid for them with BTC - but I also regularly pay for some digital things with BTC.

[Mia Chloe]

Nice thread Lucius. I actually voted for the very first option ( I have done it many times, and I still do it.) well I kinda use bitcoin for both investment in the form of Hodling and also spending too i spend with bitcoin more often than i actually do with other stable  crypto currencies like USDT as well as other altcoins. However some cases I can't spend directly I'll have to swap to fiat.

The idea of spending bitcoin is easier in some countries and regions is easier than in some others because of certain rules and regulations that may be put up by the government against crypto currencies. Sometimes when fees are high spending too can be difficult since lightning payments aren't common over here.

[rdluffy]

Nice one Lucius!

I'm a hodler of BTC, it's hard to me to sell my BTC, but I do some transactions from time to time like a currency
For example, I do some raffles and pay in BTC, I use BTC to send money to a bet company, sometimes I buy a gift card to use to order some food or to use in Uber

But in my country is almost impossible to find anything to buy with BTC

[_act_]

The main reason I have bitcoin is because I use it as an investment. I do not want to use it as a currency but there are sometimes that I see it as a means of payment and also when I want to send money to someone, I make use of it as a currency at that time. But my focus is still as investment.

[Gurujebs]

I will say that I use BTC as a currency whenever I have the opportunity to do so, and that over the years I have bought a lot of physical things such as televisions, mobile phones, computers and the like and paid for them with BTC - but I also regularly pay for some digital things with BTC.

I have had the opportunity to pay a service in Bitcoin but I didn't because cheaters are much in the business of crypto due to rates conversion. When you try to buy something from them and decide to pay in Bitcoin, they will accept but will give you low conversion rate so they can take more Bitcoin from you which is see as dishonesty and scam tricks by people.

I still prefer Bitcoin as investment, if I'm in desire need of fiat currency I will sell the one I need incase I don't have cash with me and buy what I need in local currency, it will save me the noise of convincing someone to accept Bitcoin especially when it's not a legal tender here in my country.

[JISAN]

The main reason I have bitcoin is because I use it as an investment. I do not want to use it as a currency but there are sometimes that I see it as a means of payment and also when I want to send money to someone, I make use of it as a currency at that time. But my focus is still as investment.

Same goes for me.  I don't use bitcoin as a currency because bitcoin is still illegal in my country so I can't buy any goods with bitcoin.  Only invest here for the purpose of profit.  Because we know the history of Bitcoin, we can invest in it with confidence that the long-term investment will definitely have a higher profit potential than other physical and digital assets.  Because Bitcoin is the only digital currency that pumps double or more than its previous ATH every halving.  so investing during the dip in Bitcoin can make a very good profit. that's why I always like to invest in Bitcoin

[Zed0X]

I never bought something with bitcoin directly or via P2P. I had to sell for fiat first or use a platform that automatically converts it and then pay the vendors. That is probably the usual route for us here because, despite the increased popularity, there is still limited number of stores that accepts BTC as mode of payment.

[Aanuoluwatofunmi]

Bitcoin to me have been used over time for both, i use it as a currency and am still investing on it because of the way it has always appeared being a profitable currency.

Many would have also developed this kind of same mentality over the use of bitcoin, but they may not really picture it from the same idea or approach some of us are using it, but on a basic level and terms, bitcoin is best used for these two major purposes.

[Azharul]

Yes, I am also agree to your comment. I am also use bitcoin price by currency. Because i am also buy my some essential things to bitcoin price. Because bitcoin price can give us this opportunity to sell in cryptocurrency market. But if we follow in cryptocurrency market we can see that, bitcoin is also a best profitable crypto for our investment. Many bitcoin users could invest bitcoin for more profitable. So i think that in this reason bitcoin will also be best investment sites for users. So overall we believe that bitcoin will be a currency and also our investment source in cryptocurrency world.

[TomPluz]

Right now, I am keeping tight my so small hoard of Bitcoin more like an investment and I would never use it to buy anything online or offline as I can really feel that soon there can be a big push for its price. So I become like an speculative monster as of this time of the year. Now, in the past, I used Bitcoin to buy something or to enroll into a program online...back on those time when the price was just in $500 and later at $3000...just imagine if I just kept by BTC back then and never let go of them I could have now claimed to be a little bit RICH and could have used the money to invest in real estate and can have my own farm too (in my country, not in yours where real estate can already be astronomically beyond the rich of the poor guy like me). Certainly, I will never use my hard-earned BTC just to drink a cup of coffee or to buy some groceries somewhere...doing so can be a big sacrilege to Bitcoin (just my feeling, anyway).


 

[luckyledger]

Bitcoin to me have been used over time for both, i use it as a currency and am still investing on it because of the way it has always appeared being a profitable currency.

Many would have also developed this kind of same mentality over the use of bitcoin, but they may not really picture it from the same idea or approach some of us are using it, but on a basic level and terms, bitcoin is best used for these two major purposes.

It may be used for both, indeed, me myself, I always used it as an investment, however, many times out there I would be offered BTC as a pay for a service.

[Lucius]

In some countries there is really no way to pay something with BTC, in others you can actually pay almost anything you want, although of course not directly but through payment processors that act as intermediaries. Considering the volatility, I think it's not such a bad option, because instead of having to convert BTC to fiat yourself and then make purchases with it, the payment processor does it for you.

For those who do not have the possibility to pay with BTC in their country, there are online stores that accept such payment, the only question is how much it pays for someone considering the postage, customs and taxes.

Who knows, maybe somewhere near you there is a store that accepts BTC - these are some links that might be useful to you.

BTCMap
SpendaBit
BitcoinWide

+1 karmas sent

[rdluffy]

...
BTCMap
SpendaBit
BitcoinWide

+1 karmas sent

I didn't know about these 3 sites 
I thought it was pretty cool, especially https://btcmap.org/
I managed to find 3 professionals who accept BTC in my city hehehe

As I said in the previous post, what helps me a lot are gift cards that you can easily buy with BTC and use in the services in your city, which usually have (Uber, delivery apps, Mc Donalds etc)

[UNIVERSE]

In my country, it is illegal to use Bitcoin as a currency. We only can use Bitcoin as investment. So, it is impossible to use Bitcoin as a currency in real life here. Bitcoin is illegal to pay for services or goods. Here, the only legal currency is Rupiah, it is our currency. We are even unable to use dollars for paying anything. There should be a change in our laws to enable using Bitcoin as a currency. It looks like to not happen in the near future.

[Darker45]

In my country, it is illegal to use Bitcoin as a currency. We only can use Bitcoin as investment. So, it is impossible to use Bitcoin as a currency in real life here. Bitcoin is illegal to pay for services or goods. Here, the only legal currency is Rupiah, it is our currency. We are even unable to use dollars for paying anything. There should be a change in our laws to enable using Bitcoin as a currency. It looks like to not happen in the near future.

That is why the many countries already impose strict regulations on this currency which in fact decreases its use as a currency but the potential of this technology is really massive, which may be useful for the society. As of now, the only valid usage of Bitcoin is in the investment field, and for foreign exchange too, the rules are still rather stringent. This must be so for such a financial innovation to be experienced as a problem, particularly for those who wish to observe it grow in ordinary existence. Despite the fact, that it may seem that the regulation changes are quite remote, there is always the prospect that over time the realization of its benefits for increasing the number of people will gradually grow. Alone, we can only hope for the day when this is develop into a feed that people will notice and provide space in an attempt to improve the economy of society.