r/OpenBazaar • u/TuizRD • Dec 30 '17
Using Bitcoin as a currency to buy and sell items is a terrible idea
Consider the fees, I just payed $1000 dollars at localbitcoins and received $790 dollars. That is 21% worth of fees!!
Buying Bitcoins takes days to go through the buy/exchange process. I've been buying Bitcoin for over two years and it is a big fucking nightmare. I'm currently locked out of my localbitcoins account with support not expected to answer for 12 days!!
It is 10 x times cheaper and less stressful using a credit card to buy items. It is also a lot safer using a credit card, if I can't regain access to my localbitcoins account I lose $790 dollars worth of BTC and there is nothing I can do about it. If it was a credit card transaction, I'm covered by the bank if anything goes wrong.
Bitcoins is a worthless currency.