Post
Topic
Board Bitcoin Discussion
Re: can Bitcoin provide food for our table
by
uneng
on 31/08/2023, 21:06:58 UTC
I suppose that basic needs are out of BTC system at the moment, since food is bought with small sums of money, and BTC system still lacks the possibility to be used for small payments (transaction fees, lack of adoption for retail use, lack of business projects working directly with BTC). As for getting some profit, I think you are right, long-term hodling is likely to bring some money. I think that the best strategy with crypto is long-term investment.
Food is sold by local sellers and markets who usually don't deal with Bitcoin and technology. OP is going to have a hard time finding someone willing to sell food to him for Bitcoin currency. That is actually one of the least sectors of the market to adopt BTC, it seems. If food wasn't perishable, then it would have a higher probability we could acquire it for BTC easily on the internet, as the market is wider and there are more options.

Bitcoin can provide food for our table, but we still have to exchange it into fiat first to execute the purchase.