3 ms·

Can you actually spend Bitcoin in physical stores outside of the Bay Area? Bitcoin just seems like an investment vehicle/security rather than a currency. How ma

by ptc 9y ago

Can you actually spend Bitcoin in physical stores outside of the Bay Area? Bitcoin just seems like an investment vehicle/security rather than a currency. How many people actually use Bitcoin for buying toilet paper?

_eht 9y ago
I can speak for Seattle/WA state-- it is very common to find BTC ATM's in recreational weed shops. The main driver of this seems to be that the stores have a near impossible chance of being banked and deal in cash only. The crypto ATM's allow you to purchase with a CC and in turn pay the store for product, all while avoiding cash. To the store this is a much safer alternative. For the crypto anarchists watching the big banks/fed opening up about their feelings and fears about crypto, it seems like they are pushing a near billion dollar industry to find ways to accept payment outside of the beloved USD.
option_greek 9y ago
Same number of people watching netflix in 90's over the internet :)
balazsdavid987 9y ago
Do you remember the multi-million dollar pizza? Today, nobody wants to be the thousand dollar toilet paper guy. I believe most people buy it as an investment, with no intention to every make an actual purchase with it. What gives it value then? What will happen with the price when there are no new people who wants to buy bitcoin?
rtpg 9y ago
Bitflyer (Japan) has partnerships with bic camera (electronics store like best buy) to offer Bitcoin payments. Though I believe you cannot use it for over $1000 purchases
ersii 9y ago
There is plenty of Bitcoin debit cards, which will sell Bitcoin proportionally to the amount of USD/EUR/whatever you purchased for. One of them being TenX.com. This allows you to spend at any store which accepts cards in general. That said, there are stores which accepts plain Bitcoin. As one anecdata, the electronics chain webhallen.com in Sweden accepts pure Bitcoin-transactions.

by ptc 9y ago

_eht 9y ago

I can speak for Seattle/WA state-- it is very common to find BTC ATM's in recreational weed shops. The main driver of this seems to be that the stores have a near impossible chance of being banked and deal in cash only. The crypto ATM's allow you to purchase with a CC and in turn pay the store for product, all while avoiding cash. To the store this is a much safer alternative. For the crypto anarchists watching the big banks/fed opening up about their feelings and fears about crypto, it seems like they are pushing a near billion dollar industry to find ways to accept payment outside of the beloved USD.

option_greek 9y ago

Same number of people watching netflix in 90's over the internet :)

balazsdavid987 9y ago

Do you remember the multi-million dollar pizza? Today, nobody wants to be the thousand dollar toilet paper guy. I believe most people buy it as an investment, with no intention to every make an actual purchase with it. What gives it value then? What will happen with the price when there are no new people who wants to buy bitcoin?

rtpg 9y ago

Bitflyer (Japan) has partnerships with bic camera (electronics store like best buy) to offer Bitcoin payments. Though I believe you cannot use it for over $1000 purchases

ersii 9y ago

There is plenty of Bitcoin debit cards, which will sell Bitcoin proportionally to the amount of USD/EUR/whatever you purchased for. One of them being TenX.com. This allows you to spend at any store which accepts cards in general. That said, there are stores which accepts plain Bitcoin. As one anecdata, the electronics chain webhallen.com in Sweden accepts pure Bitcoin-transactions.