Quote from: The Pharmacist on August 03, 2018, 04:23:58 AM

Quote from: pooya87 on August 03, 2018, 04:17:39 AM

Quote from: BitcoinNewbie15 on August 03, 2018, 02:47:42 AM

Very informative posts, thanks to both of you.

I've spent bitcoin dozens of times, but the number of merchants I used it at is only like a handful. I think Bitpay was the payment processor for all of them, and it does baffle me that they'd throw a wrench in the works like that.

However, it doesn't surprise me at all that bitcoin commerce is dropping. I thought this from day one: Why would anyone go out of their way to buy bitcoin just so they could spend it on something they could probably buy just as easily (or more easily) with fiat? When I spent bitcoin, it was usually proceeds from a signature campaign, but I don't think most bitcoin holders get paid in bitcoin--they buy it as an investment, and to them it makes zero sense to spend it on goods & services.

Also, even though it looks bleak right now, things could change. And I'd also add that bitcoin is still very much worth owning, even if it doesn't get spent. A lot of people have made money with it, and it is still a great way to transfer money outside the view of the prying eyes of governments and banks.

Thanks for the shares. I feel quite confused about this. My personal Bitcoin spending is increasing as the months go by, but yes, I'm the first to say that merchants using 3rd parties like Bitpay aren't REALLY using Bitcoin - they don't see a single satoshi in their accounts, everything is settled with fiat by Bitpay.

I read recently that Bitpay's transaction figures are climbing though, even if other reports seem to suggest their popularity is dwindling.

My earliest Bitcoins were from faucets and signature campaigns, including my current one but my majority continues to be actual income paid in Bitcoin and other crypto (which I usually convert to Bitcoin anyway). So what you're saying makes sense. Anyone who BUYS Bitcoin isn't likely doing so to spend it... but like you said, there could still be a change of tides. Broken economies and sanctions, people getting restricted from using fiat... these will be the first to turn to Bitcoin. The world's just priming to do that.