Post
Topic
Board Bitcoin Discussion
Re: Bitcoin as a mode of payment
by
qwertyup23
on 11/04/2018, 07:00:49 UTC
Just wondering, who is accumulating Bitcoin via using it as a method of being paid, so instead of being paid in dollars or any other amount you ask client to pay you via Bitcoin especially merchants and freelancers. I think it is cool to be paid via Bitcoin because it appreciates so its like you can earn twice if you sell high.

This depends on the wallet provided you have in your country and also subject to the existing laws. Fortunately, the Philippines has a cryptocurrency wallet used by most Filipinos and there are options where you can convert your coins to various options, such as for online games, monthly utility bills, transportation fees, or through bank deposits!
The problem with bitcoin used as a payment is its slow transaction fees in the blockchain. There are also mining fees where you are obligated to buy and it may get out-of-hand when prices of bitcoins suddenly skyrocket (which what happened last year).

Bitcoin payments are not currently common, but I believe Bitcoin will accept and support more and more people in the next few years.

It will be accepted but be open to the possibility that it may also decrease depending on the prohibitions imposed world-wide. If on an international scale they prohibit the utilization of such, expect services to be eliminated slowly.