Contrary to what other people, mostly those who have no personal experience with Bitcoin and cryptocurrencies, believe the myth that Bitcoin cannot be used to buy anything, there are a lot of proofs and evidences out there that
You can buy anything with Bitcoin!
I remember when I earned some Bitcoin way back 2017 when I was still joining airdrops, claiming on faucets and solving captchas, I got to buy a brand-new phone with my BTC earnings. However, because there was still no merchants that accept Bitcoin as a payment, I had to convert my BTC into fiat (PHP) through the coins.ph wallet so I can buy a phone. Nevertheless, I still consider that as my first experience to buy a tangible thing with BTC.
So what is Bitcoin?
According to the BBC Newsroom,
"Bitcoin, often described as a cryptocurrency, a virtual currency or a digital currency - is a type of money that is completely virtual. It's like an online version of cash. You can use it to buy products and services."
With this description of what Bitcoin is, the claim that "You cannot buy anything with Bitcoin!" is just a false notion, misconception, and myth only for the reason that Bitcoin is also just a different form of currency, similar to a fiat (USD, CAD, EUR, PHP, etc.), which can be used to acquire goods and services.
The History of how Bitcoin can be used to buy Anything:
In 2010, the first known commercial transaction using Bitcoin happened when a Florida man Programmer named Laszlo Hanyecz bought two pieces of Papa John's pizzas for 10,000 BTC, valued at $25 on May 22,2010. In honor of this historical event, Bitcoin and cryptocurrency users and supporters celebrate May 22 as the Pizza Day.
"That transaction essentially established the initial real-world price or value of Bitcoin at 4 bitcoins per penny," Professor Mark Grabowski says.
This is probably the most expensive pizza that was ever bought in the human history, where the BTC that was spent could've worth Millions of dollars today.
Fast forward to the year 2021, a lot of merchants and big businesses have been accepting Bitcoin as a payment for buying products and services.
Who Accepts Bitcoin as Payment?
According to the article of Yahoo Finance by Andrew Lisa, there are 10 Major Companies that Accept Bitcoin. These major companies and retailers include Microsoft, PayPal, Overstock, Whole Foods, Etsy, Starbucks, Newegg, Home Depot, Rakuten, and Twitch.
In addition, according to the 99bitcoins website, the most popular companies accepting Bitcoin payments worldwide today also include Wikipedia, AT&T, Burger King, KFC Canada, Subway, Pizza Hut, Namecheap, Norwegian Air, CheapAir, and a lot more.
Meanwhile, according to the HSB nationwide survey conducted by Zogby Analytics, it showed that 36 percent of the small and medium businesses in the United States accept Bitcoin as payment.
In this article of cointelegraph, "What can you buy with Bitcoin: A Beginner's Guide to spending your BTC", it also elaborated a long list of huge companies, major online stores, service providers, video games, Travel companies, Aggregators, Restaurants and Supermarkets, Taxis, Education, and Non-profit organizations that accept Bitcoin, and a lot of luxurious ways on where you can spend your Bitcoin.
And just recently, last September 7, 2021, El Salvador made a history by being the first country to ever make Bitcoin as a Legal Tender. This means that Salvadoran citizens can now use and accept BTC when buying and selling products and services, and can also be accepted when used to pay for debt.
With these proofs and a lot more, the statement "You cannot buy anything with Bitcoin" is just a myth created by people who don't have it.
Meanwhile, according to Investopedia,
"Bitcoin is a decentralized digital currency created in January 2009. Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms do, and unlike government-issued currencies, it is operated by a decentralized authority."
Now that the price of Bitcoin has reached its recent All-Time High of almost ~$67,000, the transaction fees has also reached its all-time high leading common users to doubt if it is still a currency that you can use to buy anything, or not.
While Bitcoin is a currency that you can use to buy anything if you can afford the transaction fee that comes with it, with this issue, a sound cryptocurrency option to use as a mode of payment would be Bitcoin Cash. This decentralized peer to peer electronic cash is fast in transaction and very cheap in transaction fee. It is also accepted as a payment by over 4,300 businesses and merchants worldwide.
How is Bitcoin Cash Better than Bitcoin?
Bitcoin is limited by transaction processing time, while Bitcoin Cash was started by bitcoin miners and developers concerned about the future of the bitcoin cryptocurrency, and its ability to scale effectively.
While Bitcoin blocks are limited to 1 MB, BCH blocks are 8 MB, which makes Bitcoin Cash able to process transactions more quickly than the Bitcoin network. This means that wait times are shorter and transaction processing fees tend to be lower. The Bitcoin Cash network can handle many more transactions per second than the Bitcoin network can.
Source: Investopedia
Cryptocurrencies should be for everyone, not just for the minority of the population. And in this sense, Bitcoin is for the rich who can afford its transaction fees, while Bitcoin Cash is for everyone, not just for the rich people. With BCH cheap transaction fees and fast transactions, money can be transferred to anyone, anywhere in the world, and it can be used to buy anything, just like a peer-to-peer electronic cash system designed by Satoshi Nakamoto.
My SmartBCH Address:
0x77C55F90014f99B4b424C4dd3240A4f105B11B14
Transaction fees increase with values, just a year ago I used to send or receive ether at least 10 times a day, transaction fees were quite low, now they are high enough to make even the rich poor! Just like with Bitcoin years ago, it's high now! I have been using only BCH for almost 1 year, transactions are both fast and cheap.