The Journey of Buying with Bitcoin: From Initial Purchase to Current Demands

Have you ever questioned whether it made sense to buy something using Bitcoin? In this article, I'll share my personal experience and insights on purchasing with Bitcoin, as well as explore the current trends and future potentials in the digital currency realm.

Initial Experience and Rewards

For a considerable period, I have been earning satoshis from various sources. On a daily basis, I receive around 50 to 100 satoshis. On a monthly basis, this equates to approximately 1500 satoshis, which, as a standard member, can increase to 5000 satoshis. When diligent, an individual can amass more than 50000 satoshis from survey participation. Now, I regularly receive over 50000 satoshis through micro-wallet faucet payments.

Early Bitcoin Investment

My husband's involvement with Bitcoin began early in his career as an FX trader. He recognized the potential of Bitcoin and made substantial investments before the market exploded in 2017. At that time, there were no wallets like Trezor; he had his private address written down in a book, somewhere in his possession. A month of intense searching and eventual discovery caused quite a scene. He celebrated maniacally, metaphorically spraying champagne on me, making a mess of the living room. Although I was not amused, his excitement was genuine and his decision to invest early paid off significantly.

Current Trends and Future Prospects

Current trends in cryptocurrency usage suggest a shift towards more cost-effective routes for daily transactions. Bitcoin Cash (BCH) and Litecoin (LTC) are valued for their better transaction fees, making them more suitable for everyday use than Bitcoin (BTC) and Ether (ETH). These cryptocurrencies are trusted forks of the original Bitcoin, offering more practicality for frequent transactions.

Many believe that larger transactions should take place using more stable assets like Bitcoin or Ether, with the understanding that they are typically used as reserve assets due to high transaction fees and gas fees. However, there is a growing sentiment that stores should start accepting Bitcoin Cash due to its potential to pump a coin held by individuals and encourage wider adoption. As someone who has used Bitcoin Cash to settle personal debts, I wholeheartedly support this idea and would faithfully spend my Bitcoin Cash at any retailer willing to adopt it.

Personal Experiences and Insights

My personal experiences with purchasing items using Bitcoin have been limited. To date, I have only used Bitcoin to pay for three specific services:

An online plagiarism check tool: During my master's degree studies, I used a service to ensure my team members did not plagiarize any part of our projects. I spent around 8 worth of Bitcoin on this service. A service for hosting apps: I used a platform that hosts Android apps, offering to showcase apps in exchange for a fee. I paid 50 worth of Bitcoin to receive 100 worth of credit to host one of my apps. A Bitcoin casino: Unfortunately, my gambling experience was rather disappointing. I spent 100 worth of Bitcoin, which I later regretted, as I don't typically engage in online gambling.

It is worth noting that in the past decade, the viability of using Bitcoin for everyday purchases has expanded, but the market is still largely dominated by digital asset investment rather than conventional retail transactions. As technology and acceptance grow, expect to see more opportunities for everyday use.

Conclusion

The challenges and opportunities associated with purchasing with Bitcoin demonstrate the evolving nature of this digital currency. While it remains a valuable investment tool, its integration into daily transactions is a promising trend. As more retailers and service providers accept Bitcoin, the barrier to entry will become lower, making it easier for consumers to spend their digital assets. Let's look forward to the future of cryptocurrency and its integration into our daily lives.