BITCOIN

Qyburn

Scottex99 said:

I’ll have a go, did one google search - https://www.nerdwallet.com/uk/business/companies-that-accept-bitcoin/

that handful of places will grow in time and ironically it’ll get harder to spend actual cash too I think. Some places already card only. Although both fiat ofc.

How many actually set their prices in Bitcoin? As opposed to a more or less fixed price in GBP but accepting payment in Bitcoin at whatever exchange rate is in force at that moment.

Scottex99

True, good point.

Some places will set it in sats and use the lightning network, coffee shops etc.

but I imagine most revert back to fiat pricing, still a method of payment though.

If I wanted to buy a car with my BTC today (I don’t), I’m sure I could find a way 

flaneurs_lobster

Scottex99 said:

If I wanted to buy a car with my BTC today (I don’t), I’m sure I could find a way 

Buy a car from a private seller? Maybe.

Buy a car from a commercial car retailer that was able to accept BTC and credit same to it's company accounts?

I'd suggest that you would struggle.

Scottex99

Yes, not denying that, it wouldn't be easy.

But in time, if there is more crypto adoption (or BTC has a huge pump in value) the there will be more every day.

My company has a client that rent supercars, they came to us because their potential clients were coming to them asking about BTC/ETH/USDT etc

If the demand is there it will happen

noitsnotme

flaneurs_lobster said:

Scottex99 said:

If I wanted to buy a car with my BTC today (I don’t), I’m sure I could find a way 

Buy a car from a private seller? Maybe.

Buy a car from a commercial car retailer that was able to accept BTC and credit same to it's company accounts?

I'd suggest that you would struggle.

There are add ons to Xero Accounting Software that allow businesses to track crypto payments in their company/business accounts.  I use Xero and would happily accept crypto but my customer base are not typical crypto users.

gravel_2

Another thing holding this kind of development back is the HODL philosophy... BTC hardcore don't actually want to use BTC as currency (right now), as that means holding less BTC. You don't want to be that guy who famously bought a pizza with 10k BTC or one of the thousands who spent millions in today's money on Silk Road.

This is also why platforms like Celsius and Nexo exist. People with large holdings would rather securitise their crypto, take tax-free cashflow in fiat and release their holdings later for the cost of interest payments (paid in fiat). Functionally BTC acts more like a fine art collection or property portfolio than currency in that market, and such market is geared only to those with significant holdings.

flaneurs_lobster

Scottex99 said:

My company has a client that rent supercars, they came to us because their potential clients were coming to them asking about BTC/ETH/USDT etc

If the demand is there it will happen

Does your company accept payment in BTC?

HHarry

Scott,

 Thanks for taking the time to reply.  It’s one of the rare positive posts that doesn’t revert to name calling stereo-types, shout ‘to the moon’, cites uncheckable facts and didn’t introduce a strawman argument.

 I don’t agree with everything (store of value) but learnt that a yield is possible.

 Have a good day!

MeteredOut

Cus said:

Boomers - i'm sorted, milked the established system, don't like the idea that someone younger knows better about investing, let's mock the whole thing/ don't actually understand it.

Millennials - the economic world has screwed us, bitcoin is the future, and will revolutionise finance, and get one over on the boomers, fiat is going to blow, and I've got no other option but to go all in on crypto.

Gen x (me) - maybe I should punt a few grand on it, but don't get too serious.

It's incredible that people born 1 day apart will have such a completely different outlook on things. Do you believe in astrology too?

Or, more likely, generalisations based on date of birth are a crock of the proverbial.

MeteredOut

gravel_2 said:

Another thing holding this kind of development back is the HODL philosophy... BTC hardcore don't actually want to use BTC as currency (right now), as that means holding less BTC. You don't want to be that guy who famously bought a pizza with 10k BTC or one of the thousands who spent millions in today's money on Silk Road.

This is also why platforms like Celsius and Nexo exist. People with large holdings would rather securitise their crypto, take tax-free cashflow in fiat and release their holdings later for the cost of interest payments (paid in fiat). Functionally BTC acts more like a fine art collection or property portfolio than currency in that market, and such market is geared only to those with significant holdings.

Saw an interesting post today where the Microstrategy guy who's into crypto was being interviewed and was advocating for crypto not as a digital currency (he said it was unfortunate it was regarded as that) but as digital property. ie. a store of wealth, but not something you typically buy something else with. Was talking about how the rich buy property.

I was was a bit disappointed the interviewer didn't question him on the return on those investments when compared to property, but it was an interesting thought. Aligns with those that compare it to investing in gold. The difference in volatility was not mentioned either.

I was just scrolling and it was a random feed the algorithm threw at me, so I didn't catch the channel but will see if I can find a link.