South Africa
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June 28, 2012
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Quote: Originally posted by GiveFive on Dec 18, 2017
This thread has been discussing the investing side or aspects of Bitcoin. But how many people use it to actually pay for things??? The answer is "not many". (and you wouldn't do it either) Here's why;
Today's online Wall Street Journal has a video of a guy walking around New York City using Bitcoin to pay for things he wanted to buy. He stood in front of the store and pointed to a sign that said "Bitcoin Accepted" and there were many other signs for other cryptocurrency's the store accepted.
He bought a Domino's pizza and paid for it using Bitcoin. Due to transaction fees and the rapidly changing value of Bitcoin, he paid $76.17 for what should have been a $15 pizza. Then he went into an ice cream store to buy a $5.00 ice cream sandwich. By using Bitcoin to pay for it, it cost him $17 and change. The net result I took away from the video is nobody is using it to pay for anything. The stores all say they accept it, but they don't have many customers that actually use it.
The bottom line is Bitcoin is a CRAZE... Everybody is talking about it, but nobody knows what the hell is really going on with it. Websites like zoodoo are popping up trying to cash in on the frenzy. Soon there will be "The Bitcoin Channel" (not really, I'm just kidding, but I sure as hell would NOT be surprised if I saw it) G5
Also got a feeling even if it gets more mainstream people will want to grow their's so for buying stuff dont think allot of people will want to give their bitcoins away. The only place where it might get handy is when your low on cash and you have bitcoin invested then it may be an option. I also think the amount of sellers accepting Bitcoin is on the low side......stay with technology is good but there allot of question marks that need to be ticked before its more widely used.....like your Amazons.
Wishing everyone here a fantastic 2018 and if you decide to jump on the Bitcoin bandwagon good luck with that