The Best Way to Get Started
I’ve wanted to write something about some of the places that you can spend your Bitcoins. As you know BTC only has value if people decide to give it value, and then the value is determined in part by how easy or difficult BTC are to liquidate or acquire. If there is no demand for BTC then the price will drop, if there is a huge demand and low supply the price will increase.
BTC as a value transfer mechanism will only take it so far. There is some level of anonymity, but even that can be reversed if care is not taken and the researcher has the power to subpoena. So in order to increase the demand, people have to feel comfortable that they could live in the BTC world. Hold their wealth in BTC and either buy directly with BTC or convert on the spot back to a currency.
There are more and more places that you can pay directly in BTC. The site https://www.spendbitcoins.com/places/ lists a number of places to spend your BTC directly. The Bitcoin Wiki also lists many places that you can spend your BTC: https://en.bitcoin.it/wiki/Trade.
I’ll list couple here:
If you want to convert BTC to gold or silver there are number sites that can do this. The one I hear the most about (I have never made a trade with them yet) is Coinabul: http://coinabul.com. You can find more sites here: https://en.bitcoin.it/wiki/Trade#Precious_.26_Base_Metals.2FCoins
If you are in sport shooting, target shooting or just want to stock up, another site you will want to check out is BitMunitions: http://bitmunitions.com. The prices are competitive. When I went to the site I expected to see a big mark up, but there wasn’t. This site is certainly one I have bookmarked.
There are rental agent taking rent payments in BTC in Las Vegas, NV, Nashville, TN and New York City, NY.
A bar in NY City accepts BTC for payment : http://www.marketwatch.com/story/what-can-you-buy-with-bitcoins-2013-04-06
The next step is to be able to spend BTC in Wal-Mart on demand, on Amazon, while out for dinner like Apple Bees, Fridays or Red Lobster. Well now you can sort of. Gyft is a company that sells gift cards for many different retail stores. They now accept Bitcoins at face value for gift cards. Soon from your mobile phone you can load your card, buy it, and then use it http://uptweet.com/story/Gyft-and-BitPay-Open-50-000-Retail-Locations-to-Bitcoins_1253. This about the closest thing we have the present time to spending them on demand. I know it will change how I spend BTC.