The problem with paying using bitcoin

[helloeverybody]

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.

[alyssa85]

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.

[KenR]

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!

[road to morocco]

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.

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?

[Anon_7716]

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.

[bob123]

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

[Lauda]

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.

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.

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

This doesn't make sense.

[gentlemand]

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.

[vinaha]

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!

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?

[Amph]

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!

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

[Amph]

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?
[/quote]

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

[ATguy]

Maybe at some point open bazaar could implement its own exchange but id still imagine prices will be over spot.

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.

[Wendigo]

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.

[vinaha]

I think there's no way OpenBazaar's system/seller support bitcoin price on spot unless they use 3rd party or become centralized.
If you want such feature, you better sell your bitcoin and spend your fiat at Amazon or Ebay.

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!

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?

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.

[NUFCrichard]

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

[DimensionZ]

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.

[BitcoinSupremo]

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 ?

[yenxz]

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.

ive noticed when using it. Bitcoin costs too much to buy in order to use

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.

[Jasad]

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.

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.

[NUFCrichard]

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.

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.