Bitcoin Forum

http://money.cnn.com/video/news/2014/11/09/24-hours-on-bitcoin.cnnmoney/?/video/news/2014/11/09/24-hours-on-bitcoin.cnnmoney

He came across a few struggles do to the fact that bitcoin isn't heavily adopted around us, yet, but still managed.

Wherever you are: would you think it is possible to "survive" one day, one week even, using nothing but bitcoin?

A lot of people have similar projects. It get's easier all the time.

http://lifeonbitcoin.com/

Well of course it should, hopefully, get easier. This would mean merchant adoption is climbing (always a good thing for any currency)

Thanks for sharing the link, I'll take a look.

I wounder how this little experiment will look like in 5 years...

Well, it's merely a proof-of-concept project as of now, if you ask me! I also believe that Bitcoin isn't exactly made to be used to buy things in daily life. I guess it will more likely work as a means of payment on the Internet, a store of wealth, and to transmit money across a large distance, and/or foreign countries.

Grocery and gasoline acceptance is the key. Basic needs then utilities. Converting to fiat via gift cards or debit cards is kind of cheating.

Not being able to use it at most shops doesnt really prove anything, what are people expecting?

Right?  Cool idea, but i wish they would have concluded that "in a few years this might look a little different".  Also there's so many industry specific benefits. For example, I play online poker all day, and there is massive benefits that anyone can take advantage of, but I don't commute to work,so that video doesn't really apply to me. I think if some of these commercials focused on the utility it's already functioning well at, gambling, online purchases, international transfer, then people would be more open. Either way, publicity.

Kinda like trying to find a gas station for your automobile in the early 1900's.  I wonder how many people were saying, "Cars are useless because there aren't any gas stations."

Forbes did a similar experiment early last year and another one early this year. The comparison between the two experiments was crazy. (in the forbes experiments the author tried to live on bitcoin for a week). The author had a much easier time living on bitcoin the second time around then the first and when she asked people if they could take bitcoin many more people knew what she was talking about 

It is not difficult to survive for "one" day as it would be very easy to not have to buy anything for one day (you can easily go a day without eating, and can stay awake for 24 hours if you have to).

I would say a much better experiment would be the one that forbes did

I think you can survive a at least a month on just one bitcoin at todays price.... presuming that survival food place is still around :D

where is the CNN Moneys much purported Quantum computer

But you still need to replace bitcoin to local fiat

nope

Great idea but i think it's still to early. Living on bitcoin has to be painful these days with such small acceptance. Most people don't even know what bitcoin is.

You're talking about Kashmir Hill, yes, I followed the articles, the change was quite amazing.

Soon we will all do the same.

I think that video was awesome.  Yes, it is true that he struggled and is sucked, but he did it!  The beginning has started.

good and free advertising for bitcoin.

Exactly.


Would you happen to have a link for this experiment? Thanks

Making every effort to live on nothing but BTC...then at the bottom of their homepage, they are selling t-shirts and digital downloads...asking for, get this...Fiat...oyy...

If you're allowed to exchange BTC for cash fiat (as seems to be the case here), no problem at all.

life on bitcoin lol they are making money on marketing creating t-shirts from cheap cloth and use a miserable dye to print that logos in a fashion of australopithecus

I think what people should strive for when they say they will live on bitcoin is to use bitcoin 100%. Not exchange to USD and spend that.

Yes, one person can survive, but 7+ billions of people all over the world can't... 21 milions of units are simply not enough  :(

I wouldn't mind doing this, but I have to liquidate to pay rent, bills, gas and groceries. And if there was a service that handled this for me then they'd just liquidate my bitcoin too. Which sortof cheapens the attempt.

Well, it would be difficult for the entire world to operate solely upon 21 million currency units, yes.

Good thing Bitcoin has 2.1 quadrillion currency units.

Looks like there are still some kinks to work out unfortunately.

awesome  - not exactly living the high life lol - but hopefully this is a step to making it easier in the future!

Not very soon...BUT sooner than most people think  8)

Depend on which country you're attempting it.Such thing would be impossible to do in my country.

Depends greatly on where you are - US, Europe, somewhere else.

Yes in some country fee for exchange BTC -> Fiat is still big.
And no local merchant accept bitcoin , so they must exchange to fiat first.
This maybe cause some people who lived in some country which bitcoin is not famous like US , Europe feel not interested use this currency.

I've seen this attempted a few times now. Cudos to them.