Bitcoin Forum

Now that open bazaar seems to be running all good for me now and i can browse through the various wares there's still one problem ive noticed when using it. Bitcoin costs too much to buy in order to use, If i could buy bitcoin at spot price then it wouldnt be so bad, but as it is i have to take into account what it costs over spot price to buy bitcoin and then whether or not id be as well just buying with cash elsewhere.

Maybe at some point open bazaar could implement its own exchange but id still imagine prices will be over spot, Maybe its just me but as a holder i now feel id rather part with cash than btc.

That's the problem with lots of these services. They're not only content with increased marguin due to lack of credit card fees, they want to gouge the customer as well, in the belief that bitc fans are so enchanted with crypto that they'll pay inflated prices.

Hopefully if people hold off buying prices will come down.

Open Bazaar is the place to spend your bitcoins .Why would you want openbazaar to start their own exchange when you have 100's of already well established exchanges around ? It hardly takes 10 mins to buy bitcoins nowadays.If you're planning to use them on OB ,you can simply buy in stock and keep it unless you're insecure with the trades.You don't have to buy bitcoins just so that you can use on Openbazaar,you can buy all the stuff you get there on your regular market as well.Instead,if you are a regular bitcoin user and support decentralization,ob is the place for you!

So what you're saying is if you can buy BTC with actual money, without getting raped in the process, you'd spend that BTC on OB (presumably because shit selection, shit prices & no chargeback if you get a brick in the mail instead of the laptop you paid for)?

How about this: I write you an app that makes eBay impossible to search, doesn't display 99.99% of the listings, and eliminates the possibility of chargeback. Interested?

I think this is a matter of doubt the market for using Bitcoin as payment from one of the products offered. If it is so, then you don't have to worry about. In the meantime you can use the payment type that has been approved, and you save just Bitcoin for investment in the future.

To be honestly i dont see a problem in this. Prices will fall after a while.

How about you give us some concrete numbers (e.g. service used and total fees)? I usually disagree with this statement. Either you are being hyperbolic or you are using some bad options. The last time that I bought some via Bitcoinbon, the fees were negligible.

This doesn't make sense.

There may come a time when what's on there is enough to tempt new people in. It's ludicrously early days yet and it's probably healthier if it stays with existing believers for now.

I think you missed the point. Yes there are 100s of exchanges. And none of them trade Bitcoin at spot price.

If I am paying $35 for $30 worth of Bitcoin so I can purchase an item on Open Bazaar that I can buy on Amazon for $32, why am I doing this?

in fact it's better to use purse.io for the moment, because you use their discout and go againsta the instability of bitcoin market, toe to toe

unless you're earning bitcoin directly, you may lose something when purchasing bitcoin first

Have you ever use this service? I heard some people says it's cheaper than go to amazon, but how about shipping fees?
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yes i have and i saved a lot, 50 euro until now on all my small purchase, 30% on each of my purchase, minus those too expensive

I guess with open bazaar exchange, the situation could be simillar to localbitcoins where you pay 10% or more over spot based on your location. But adding it to open bazar is good idea for increased decentralization obviously, not about buying Bitcoins with lower fees unfortunatelly.

Unless you are sourcing cheaper Bitcoins from somewhere I would double check the prices of similar items at other online fiat retailers before jumping the gun on items sold for Bitcoins. I have found cheaper deals on Amazon than Overstock on numerous occasions. This trend of overcharging the Bitcoin users should stop it's ridiculous. We are bypassing the credit card fees yet getting inflated prices on stuff for no particular reason other than merchants' greed.

I have. I wasn't all that impressed with it, because I got scammed a couple times. I did save a fair bit on the stuff I bought though. The best I got was 30%.

But that still doesn't fix the problem of getting Bitcoin at spot price.

Are you buying Bitcoin quickly just before spending it?
There are some extra costs if you use a normal exchange, but they aren't too high really.

I used Bitcoin.de, I think I pay a few % extra, but nothing dramatic.  I know you can pay much more if you want the coins asap

Where are you guys buying your Bitcoins from? I am buying at an exchange with my debit card because the fees look lower to me than trying to buy coins from Localbitcoins where a lot of sellers put 10%-20%  markup on top of the spot price of Bitcoin.

Yes I would be interested too to see where users of this community buy bitcoin from. I mean NOT us members , as the us members have more choices than European members, so I would really love to see non us members where do they get their Bitcoin fast and cheap ?

not agreed with this,tell me what part of bitcoin that take cost too much?can you give us any sample?
i dont think paying using bitcoin have many problem,the problem it self is come from user and device,that is it.

i have no problem when paying or buying bitcoin,yes you right if buying from people on localbitcoins the price higher almost 10%,its always happen in some person to person transaction. and i also more like to buy on exchange.

I do think that a problem is that the savings made by accepting bitcoin, are generally overruled by the fact that the vendor probably uses Bitpay.
That means they lose a few percent, we lose a few percent, who comes out on top?!

If they directly accepted bitcoin into their own wallet, then they could offer us a discount of a few percent, and we would all be winners.  I won't hold my breath.

Yea I know what you're talking about, I too have noticed a lot of items priced higher than normal on sites that were built primarily around Bitcoin. You won't have this problem with well established retailers like Overstock and Newegg though.

Exchanges with the biggest volume favor larger pourchases, in general, it's not convininet for you if all you need to do it get a small amount. It'd be best to find other places to buy small amounts other than eshablished exhcanges that favor trades with big amounts. Consider localbitcoins, it'd be nice if openbazaar implemented it's own web of trust for bitcoin trades though.

Right now very small number of stores were accepting bitcoin and users also very low compared to the physical currency usage. So those traders to earn a good profit fixes high price for the purchases made through bitcoin. When users increase this problem won't be there.

there are service like this https://www.reddit.com/r/Bitcoin/comments/2kpwah/coinapult_locks_vs_bitreserve_price_comparison/, https://coinapult.com/

that go against the instable nature of bitcoin, they lock your funds with a tiny spread https://en.bitcoin.it/wiki/Coinapult

yeah I often find goods more expensive when I bought with bitcoin. I do not know they are using bitcoin lower rate or anything. but that such discrimination. if you buy and pay with paypal you only need to pay $ 10. but with bitcoin you have to pay $ 15. it often happened to me

Help me out here.... Are you saying the goods on offer there should be cheaper {spot prices} or the Bitcoins should be cheaper? ... If you saying the goods must be cheaper, I kind of agree with you. The

merchants could be saving on some banking fees, because most transfers are much more expensive in fiat systems or fees added by eBay / Amazon / etc.. To encourage people to switch to a new

platform, merchants will have to offer some discounts for Bitcoin purchases in the beginning... because they are saving on fees. {Just my suggestion to make things more attractive on OpenBazaar}

On the option for them to create a centralized exchange on a decentralized market place... No thank you... We have seen too many of these services getting targeted already..  ::)

But a only problem in the bitcoin, very less escrow system in bitcoin trusting method. So I would like to use the bitcoins to purchase the goods by bitcoins. some time scammers use to fake the people mostly. Better please aware of it.

Good idea about having a built-in exchange.

You might be able to buy bitcoin on this forum at around spot, but not consistently.   And yeah, using fiat makes more sense a vast majority of times.   I don't think bitcoin is cut out to be a currency.

Why would anyone go through the trouble to download an application to do this? What is the advantage of this vs buying something from a Bitcoin accepting online merchant?

I dont really get what you mean here, bitcoin costs to much???  if you want to buy a tshirt which costs $10 then you buy $10 of bitcoin to buy the tshirt, ???

for me to be honest i have never had any troubles paying with my bitcoins for any of the shoppings i have done ever, i have tried buying some digital good and everything went smoothly

of course there arent a lot of shops accepting it but there will be more of them in the future and it will be way easier to pay for all your stuff in bitcoins, though those are just my predictions

the number of users to be more problem and like ebay merchant or store still consider the use bitcoin payment method. because if it was applied certainly no protection to the buyer and the seller?
ebay may not be escrow right? so many traders still consider it

If i buying stuff, not much merchant accepted bitcoin.
That's my problem with bitcoin

yeah i feel that too,too much cost for any goods that selling with bitcoin payment,i am find this not only on openbazaar. i wish not much people will not do this on openbazaar.

I never have experienced any problems when paying using bitcoins but maybe that is because have not paid much with bitcoins. They need to fix this if it is true because I really want bitcoin to partner with online web shops so are able to pay with bitcoins.

I've never had problem paying with BTC except where I get scared at the time I'm manually making some payment, I'm afraid if I've entered the extra amount and I check multiple times before clicking on the send button :D

The problem with paying using bitcoin?

herein my country is not that quite known what Bitcoins is,
many of our citizens here are uneducated if we talk about bitcoins that's the main problem :D