Quote from: coyhasmon on Today at 03:19:29 PM

Quote from: CTO114 on Today at 12:51:19 AM

We can't deny the fact that Bitcoin is a great companion when it comes to trade involving a lot of a variety of commodities, as the case maybe, but rarely physical.

Have you ever purchased a physical commodity using Bitcoin? What's your experience?

Of course you can, it is quite easy in many countries. Cars and real estate are the most common purchases. You can look for sellers that are already willing to accept it or you can ask them. Often they won't want it, but sometimes someone will say yes. My experience with buying a car was pretty easy, I encountered no issues.

Using Bitcoin to buying physical commodities that are not really high in prices are not more common to people that have even used it before. Most of the places, you’ll get the answer that they don’t accept crypto payment, they don’t know how to use it or not interested in anything crypto. The system is still developing and so is the mass adoption gradually. Where you can see people accepting bitcoin for payment is when buying commodities that when even their worth is converted to fiat, it will be much that even the banks will notice an huge amount has entered into a customer’s account.

Most times, limitations of banks won’t allow such transactions to go through all immediately but with your seller having a Bitcoin wallet to receive funds, buying expensive commodities like house, cars has now become easier. You don’t need to be given receipt of payment as Bitcoin to be the means of purchase but the equivalent amount of fiat to the bitcoin sent will be used. Deals like this are fast but it is not yet rampant because only high class people still does it that own Bitcoin in their portfolios. I see big businesses in my country accepting it but not mostly publicly displayed. It will be an arrangement between you two privately to use that method of payment to pay for commodities.