How Can You Actually Spend Your Bitcoins, Explained

I have some Bitcoins and altcoins. Can I spend them anywhere I want?
Nope, sorry.

Unfortunately, Bitcoin is still pretty far away from becoming a universally accepted currency. Alternative cryptocurrencies seem to be even farther away from that point.

It has been a crucial problem for Bitcoin since its very beginning. What good is digital money if you can’t really spend it whenever you want? And the efforts of the community to improve the situation are one of the principal driving forces behind the growing adoption of Bitcoin and other cryptocurrencies.

Has it always been difficult?
Actually, it used to be even more difficult.

In the earliest days of Bitcoin, when it was barely more than a hobby for a small number of enthusiasts, almost the only way to spend it was through an online forum.

The famous 10,000 BTC pizza deal is a great example - it even has an unofficial holiday named after it. In early 2010, two users agreed upon a deal on the Bitcointalk.org forum in which one would send the other 10,000 Bitcoins, and the other would have two pizzas delivered to him in return.

This is believed to be one of the earliest purchases made with Bitcoins. Obviously, it’s not a way of purchasing that can be reliably replicated by an audience of a large scale.