Post
Topic
Board Bitcoin Discussion
Merits 2 from 1 user
Re: Have you ever used Bitcoin to pay for anything?
by
headingnorth
on 29/05/2025, 01:57:55 UTC
⭐ Merited by d5000 (2)
While it's a good thing that such conference admonishes bitcoiners to use bitcoin for payments, they should also note that right now a whole lot of bitcoiners are rather interested in accumulating than spending. And this is due to the store of value bitcoin has, everyone wants to make profit and they understand that spending their bitcoin wouldn't give them such profit.

As I said, this argument against using bitcoin as payment is nonsensical.
You don't have to spend any of your bitcoin savings funds. You can simply convert the cash
you normally use for daily expenses into bitcoin and use that to pay for things.
Even if you do spend from your bitcoin savings fund it's not going to kill you to buy a coffee
or a meal with bitcoin once in a while.

However, Satoshi has actually meant it for an alternative payment gateway as the fiat system continuous to fail us.

Satoshi understood future halving events will have a negative financial impact on miners ability to stay in business.
Mining is not free. Expensive equipment has to be constantly upgraded, energy costs are huge, etc.
The costs become exponentially higher with every halving. The bitcoin network won't be very strong or secure if miners
don't have the funds they need to run things optimally and stay in business. That is why he intended for the network
to be supported as a payment system where miners are supported by transaction fees.

I refuse to use Bitpay because they require a direct connection to the wallet you are using that is always running as a background process.

The Bitpay phone app/wallet is optional. When you use Bitpay in a browser
with a non-Bitpay wallet the connection is temporary and there is no background process always running.