Have you ever shopped using Bitcoin?

lawrencegordon

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I have not yet shopped with Bitcoin, although I am thinking of doing it in the future.

Personally I think Bitcoin is a cool payment system, but they need to offer better security.

Did it accept as a standard payment method?
 

onlinestorehelp

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The hard part about Bitcoin, is it is not a stable value. It is more like a commodity with its value that fluctuates so if you arent careful, you can be over paying for something versus normal credit card.
 

OrusX

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I make purchases with bitcoins , but already used in some of my online stores and had bad results. No one bought by bitcoins
 

tvtaddy

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I haven't used the bitcoin as in my place they are not so popular.
 

Broccoli

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Bitcoin, in my opinion, was simple to use. But with all the different wallets, and the fluctuation of value in a Bitcoin, the process of buying and selling can be so much more complicating than simply using a PayPal.
 

ulterios

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I've never used Bitcoin myself. One reason for that is that it isn't accepted as a form of payment at most of the places that I make purchases from online.

There's also the fact that it's value fluctuates over time. It's more stable lately though.

I think if it was accepted by more places I buy from then i'll probably try it out, just to get some experience with it.
 

EpicGlobalWeb

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I have not yet shopped with Bitcoin, although I am thinking of doing it in the future.

Personally I think Bitcoin is a cool payment system, but they need to offer better security.

Did it accept as a standard payment method?
Bitcoin is one of the most secure systems out there. There is no fraud protection which is what you're referring to.

I have a client who only accepts Bitcoin on his e-commerce store. It may be an alternative to the US Dollar soon which is destined to collapse at this point because there is too much money supply. Bitcoin doesn't have the same inflation concerns and is decentralized.

It also taxes as capital gains instead of income tax which can save you money with the IRS. And not for nothing but it is unlikely the IRS has time and resources enough to audit Bitcoins.
 

DavidFeldman

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DavidFeldman
I don't really think the US dollar is going to collapse any time soon actually. :)

I have never used Bitcoin, nor do I plan to. If either could be expected to collapse anytime soon, I would bet on Bitcoin collapsing, not the US dollar. :)
 

EpicGlobalWeb

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The US dollar collapse is 100% mathematically inevitable. The only questions are when, and by inflation or regulatory austerity measures causing deflation. Please do a search for "US Debt Clock" and view the live numbers for yourself. We owe more money than our entire output of goods and services. Government pays for that with inflated, printed cash.

Most fiat currencies do not last more than 10 years. We've been officially fiat for about 40 years. The problem BitCoin solves is that it is non-fiat currencies with controlled inflation and limited supply. It should be a favorite among e-commerce users and vendors.
 

rohan941

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I have not yet shopped with Bitcoin, although I am thinking of doing it in the future.

Personally I think Bitcoin is a cool payment system, but they need to offer better security.

Did it accept as a standard payment method?
You're right, bitcoin is pretty cool, now I've never used it before but I've hear of alot of success from other bitcoin users. I believe later on in the future bitcoin will get more popular, there are other big business who are now using bitcoin as payment option for instace fiverr. But I'm still doing research on this becuase it can be a bit confussing especially if your a newbie.
 

EpicGlobalWeb

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You mainly need to download a wallet from bitcoin. You get a cryptographic address. Then it downloads the blockchain (every transaction ever done). It will give you a .bit or .bat file that is your wallet address. Print it as a physical back up and on a usb stick. You can buy or mine bitcoins. You need a dedicated ASIC unit to mine effectively. Mining on your main computer will barely earn you 20 cents a day. Probably less. A row of 10 - 15 ASICs will decrypt at a fast enough gigahash rate to live off of. But only right now because bitcoin prices are highly volatile.
 

hostingspecialists

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I accept it but don't really have anywhere to spend it. None of my suppliers or companies I deal with accept it. It's just accumulating.
 

EpicGlobalWeb

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You don't need to worry about that because it can be converted to cash or gold fairly quickly. I believe Midas resources accepts Bitcoin in exchange for gold and silver bullion, at which point you can get cash for it at any pawn shop for 90-95%.

And if you're willing to sell your Bitcoins to me, I'll gladly take them off your hands for a fair price.
 

onegoodman25

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I never used Bitcoin and I am not planning to ever use it or accept it, bitcoin has a lot of major issues that it fail to address. I believe there is a need for an online standard payment, but it is not going to be bitcoin. Over the last few years we never know what makes it really rise or fail, it is more of a stock in the stock market, and we all know when the stock go down, so does people savings :)
 

vishwa

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I never used Bitcoin as my payment option because it is still very risky and volatile payment option. Remember the incident of liberty reserve.
 

Developer

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I must admit, I have never been too fond of Bit Coin, BUT, that is mainly because
it is out of the realm of normality and I am a very old-fashion kind of guy.

However, as a new found friend recently informed me, if the economy keeps
going the way it is, (which with the current presidential candidates, I do not
see it getting much better any time soon), then stuff like Bit Coin may very
well be something we should all be looking into (perhaps not necessarily Bit
Coin itself) but some kind of alternative none the less...
 

tcoder

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I never used bitcoin, I just don't understand why people place value in a currency that's backed by nothing.
 
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CyberHour

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tcoder actually it is :) There is huge investment in bitcoins .
Is like saying that gold is backed by something :)
 

tcoder

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tcoder
Gold is physical, it's an element, can be used for different things. Bitcoin is digital - One EMP and you'll have nothing to spend, no power, no access. Just don't see the correlation. I totally understand it has value, but to me, it will never be something I would invest in.
 

CyberHour

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Well, depend on how you value your privacy and freedom :) . Our customers want to stay anonymous which is their right (that doesn't mean doing illegal things of course).
 

dewspedjdxm

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I implemented Bitcoin on my forum website and sometimes bitcoin payments are made.

And you don't pay taxes on Bitcoin payments.
 

EpicGlobalWeb

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Err... I probably shouldn't openly agree with you but you're right lol! You can probably get away without paying taxes when you take it as a form of payment because there's practically no way to trace payments efficiently. It's popular on the black market for this reason.

The reason for this is because congress (in the United States) voted on whether or not they view Bitcoin as a currency. They legally declared it an asset. That means that when you sell your Bitcoins for cash later, and you made a profit (bitcoin price at time of sale - bitcoin price at time of acquisition) then you pay 20% in taxes for capitol gains.

The way around this of course is to continue using it as a medium of trade. In other words, buy and sell with Bitcoin and never convert it to cash.

Fortunately it's accepted in enough places now where you can use it for everything except rent and utilities.
 

shilpa

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Yes, I have done international shopping using bitcoins. Some of the sellers have this payment option. Many don't so it may not be that flexible. Also you need to convert them to relevant currency if you wanted to spend bitcoins on those platforms that don't offer bitcoin payment as an option. For domestic use however I only use them after converting into the local currency first. That's more appropriate and offers a great deal of flexibility.
 

msg17

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No, to be honest, I have not yet tried to make purchases with using bitcoin. But I look forward to the opportunity of doing so in the future. I strongly believe that bitcoin provides a very good kind of service though. Good luck with shopping on bitcoin.
 
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