Daily use of bitcoin?

[onnz423]

Atleast here on finland there is few restaurants, bars and coffee places where you can pay with bitcoin. Also few food stores, but i would not recommend them since the workers did not really know how to use bitcoin, and they had to call their boss etc. So it was fairly frustrating to wait at the cashier.

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[BitcoinPanther]

But does zero confirmation system can overcome double spending?
You'll say it's not worth to do it for a cup of coffee, but what if I order coffee for all the office?
20-30 cups of coffee for 1-2$ of fee is almost for free.

Once you actually succeed to double spend a merchant that doesn't need a confirmation, do tell us the story.

It can't be achieved with a certain degree of difficulty. You need to 1st convince the merchant to accept your 0 conf payment, convince a miner to help you mine a replacement transaction. The first is easy, making a replacement transaction without the participation of a miner with a significant amount of hashrate is hard.

Great idea for the coffee part. But merchants will require you to wait for a confirmation. Oh come on, how much time do they need to make 20-30 cups of coffee in the first place?

Necessity is the mother of invention

You would only need to give the bartender a fiat collateral for the amount of coffee you are going to buy (you can leave your gold wristwatch or iPhone), then pay with bitcoins. And while your whole office sits at a coffee break and enjoys your smartness and wisdom, your transaction gets successfully confirmed. Later you return and take back the fiat (or whatever you left). If the transaction doesn't get confirmed eventually, congrats, you have just paid with fiat for the coffee (all the better for your bitcoins). As simple as it gets

But groceries and supermarket is different story, so a different kind of approach is needed on this issue, even waiting for the confirmation will make it more difficult to the customer.  15 minutes is too long to wait after scanning all the goods you made.  Unless bitcoin confirmation takes 1 to 2 minutes, it is not wise to pay with bitcoin directly in this cases.

[nelson4lov]

It is just as other modes or ways of payment.
Bitcoin transactions are fast when it comes to paying/using it in Starbucks etc.
It takes exactly the same time as credit / debit cards take.
So it wouldnt matter.

Probably the payment gateway which Starbucks and etc were using are enabling some sort of zero confirmation, therefore, you don't need to wait for some confirmation and your transaction just considered done after you're sending the exact amount to the address they were mentioned. Otherwise, it's not so fast if those merchants were requiring few confirmations

Is there something like a zero transaction confirmation? If there was, It'll be more better. You see, That's one of the downsides of bitcoin. Waiting at a store for extra 20-  30 minutes (sometimes, It's less) because You used bitcoin as a payment method

[onnz423]

But does zero confirmation system can overcome double spending?
You'll say it's not worth to do it for a cup of coffee, but what if I order coffee for all the office?
20-30 cups of coffee for 1-2$ of fee is almost for free.

Once you actually succeed to double spend a merchant that doesn't need a confirmation, do tell us the story.

It can't be achieved with a certain degree of difficulty. You need to 1st convince the merchant to accept your 0 conf payment, convince a miner to help you mine a replacement transaction. The first is easy, making a replacement transaction without the participation of a miner with a significant amount of hashrate is hard.

Great idea for the coffee part. But merchants will require you to wait for a confirmation. Oh come on, how much time do they need to make 20-30 cups of coffee in the first place?

Necessity is the mother of invention

You would only need to give the bartender a fiat collateral for the amount of coffee you are going to buy (you can leave your gold wristwatch or iPhone), then pay with bitcoins. And while your whole office sits at a coffee break and enjoys your smartness and wisdom, your transaction gets successfully confirmed. Later you return and take back the fiat (or whatever you left). If the transaction doesn't get confirmed eventually, congrats, you have just paid with fiat for the coffee (all the better for your bitcoins). As simple as it gets

But groceries and supermarket is different story, so a different kind of approach is needed on this issue, even waiting for the confirmation will make it more difficult to the customer.  15 minutes is too long to wait after scanning all the goods you made.  Unless bitcoin confirmation takes 1 to 2 minutes, it is not wise to pay with bitcoin directly in this cases.

As long as the customer pays the recommended fee, they should accep the tx even with 0 confirmations if you ask me. Since it takes 72 hours for the tx to get rejected, and if you send it with recommended fee there is a really slight chance that it wouls not get confirmed within that time frame.

[delliaerd]

In my point of view, this is a problem which the developer of bitcoin should fix. When we want to use bitcoin for daily needs, the Confirmation of the transaction sometimes arrive late Even up to more than ten minutes. So i hope it will fix and we can get faster confirmation.

[richardsNY]

In my point of view, this is a problem which the developer of bitcoin should fix. When we want to use bitcoin for daily needs, the Confirmation of the transaction sometimes arrive late Even up to more than ten minutes. So i hope it will fix and we can get faster confirmation.

Fixing happens when something is broken, and exactly that isn't the case. Confirmation times are indeed not suited for using Bitcoin to buy groceries for example, but the high fees also make it less interesting for people. But that's something that is related to the pools and not the developers themselves. In the coming years we'll see the fees increase even further as it will be a more important source of income for pools due to block halvings.

[d@nte]

Atleast here on finland there is few restaurants, bars and coffee places where you can pay with bitcoin. Also few food stores, but i would not recommend them since the workers did not really know how to use bitcoin, and they had to call their boss etc. So it was fairly frustrating to wait at the cashier.

It must be a very good thing, because in most countries there are no physical places to spend Bitcoin. In fact, I think even in third world countries there are people taking initiatives and adopting the currency in physical stores, but the number of options should be rather limited, as such individuals certainly offer services in a few locations.

[Zeatorius]

Atleast here on finland there is few restaurants, bars and coffee places where you can pay with bitcoin. Also few food stores, but i would not recommend them since the workers did not really know how to use bitcoin, and they had to call their boss etc. So it was fairly frustrating to wait at the cashier.

I'd of found the experience enjoyable purely for the chance to use bitcoin in real life 

[Doms]

In my point of view, this is a problem which the developer of bitcoin should fix. When we want to use bitcoin for daily needs, the Confirmation of the transaction sometimes arrive late Even up to more than ten minutes. So i hope it will fix and we can get faster confirmation.

Fixing happens when something is broken, and exactly that isn't the case. Confirmation times are indeed not suited for using Bitcoin to buy groceries for example, but the high fees also make it less interesting for people. But that's something that is related to the pools and not the developers themselves. In the coming years we'll see the fees increase even further as it will be a more important source of income for pools due to block halvings.

If that is the case, mass adoption might not become a reality. Unless the transaction fees come with added benefits, that is just not going to sit well with ordinary people and to those who are just making small transactions here and there. I can think of bonus points or some other perks that is merchant-based to attract people to use bitcoin as payment.

[sportis]

It is just as other modes or ways of payment.
Bitcoin transactions are fast when it comes to paying/using it in Starbucks etc.
It takes exactly the same time as credit / debit cards take.
So it wouldnt matter.

Probably the payment gateway which Starbucks and etc were using are enabling some sort of zero confirmation, therefore, you don't need to wait for some confirmation and your transaction just considered done after you're sending the exact amount to the address they were mentioned. Otherwise, it's not so fast if those merchants were requiring few confirmations

Is there something like a zero transaction confirmation? If there was, It'll be more better. You see, That's one of the downsides of bitcoin. Waiting at a store for extra 20-  30 minutes (sometimes, It's less) because You used bitcoin as a payment method

No there is not zero network confirmation. Although bitcoin is a payment system and is internet money if we want to use it for micro-payment transactions is pain in the ass. That is, nobody will wait for network confirmation. On the other side, even there is a debate, if is secure or isn't bitcoin, people are developing lightning networks (LN). With LN tiny payments with reasonable fees and almost instantly confirmations will be a reality. Recently developers of lightning networks announced the alpha release https://news.bitcoin.com/lightning-network-alpha-release/

[danherbias07]

Hi friends,

As far as I know, bitcoin payments take a little time to approve. Will these approval times make it difficult to use bitcoin in our daily lives?
For example, I would get a coffee from Starbucks. Do I have to wait for approval to pay for what I have done for hours?

You may want to try some website wallets that do have an application too for android or IOS. I am using one but it is for withdrawal only I havent tried paying through it. But I tell you it is way faster than I thought. I just wait for 3 minutes I think then my account number and password will come which will be input on an ATM machine.

[WorldClassic]

Using bitcoin in daily life doesn't suits up .

[Rizky Aditya]

Hi friends,

As far as I know, bitcoin payments take a little time to approve. Will these approval times make it difficult to use bitcoin in our daily lives?
For example, I would get a coffee from Starbucks. Do I have to wait for approval to pay for what I have done for hours?

If you really want to spend your Bitcoin in your daily life, then it is probably smart to get a Bitcoin debit card. You can use it just like a normal debit card and you can use it at places that don't accept Bitcoin.

I heard that Starbucks already started to accept bitcoin as payment. I don't imagine how it work exactly, because of I have no place here that would accept bitcoin. But I think such transactions in place that work with bitcoin all operations provided as fast as with a card.

Really? I never heard that they started doing that. What country is that in?

[boybugs18]

In my point of view, this is a problem which the developer of bitcoin should fix. When we want to use bitcoin for daily needs, the Confirmation of the transaction sometimes arrive late Even up to more than ten minutes. So i hope it will fix and we can get faster confirmation.

I think making the fee higher will make the transaction more fast I'm not sure though cause when I used bitcoin for any transaction It will be automatically approved even if the confirmation still ongoing

Hi friends,

As far as I know, bitcoin payments take a little time to approve. Will these approval times make it difficult to use bitcoin in our daily lives?
For example, I would get a coffee from Starbucks. Do I have to wait for approval to pay for what I have done for hours?

I think if you send the payment in the right address maybe they will just approve the payment you made as long as they receive the confirmation that they are receiving bitcoin to their address so it might be possible to use it for daily life.

[20kevin20]

Using bitcoin in daily life doesn't suits up .

It actually does. If Bitcoin was a real currency we could use anywhere, I think it'd be in our advantage. Sometimes we want to buy things through methods which Governments cannot look after, and Bitcoin is good here. Maybe I want to buy a phone but I don't want anyone to know except me and the seller.. what's the problem? I just want to do it anonymously. Bitcoin is a limited currency, so therefore the price can always go even above Gold.

[ASHLIUSZ]

It hasn't got acceptance similar to our local currency, so its not possible to use bitcoin in our daily life. As bitcoin volatility is decreased which easily gets the attention of users for more adoption.

[EcoNorm]

My daily use of bitcoin is for online shopping of stuff i use in my daily life.
I can buy easily through bitcoin and it provides a safe way for me to transfer money and i think people will get on to that and the usage is only gonna increase.

[chickenado]

Hi friends,

As far as I know, bitcoin payments take a little time to approve. Will these approval times make it difficult to use bitcoin in our daily lives?
For example, I would get a coffee from Starbucks. Do I have to wait for approval to pay for what I have done for hours?

Its easy. Pay high fees so that your payment will approve. I think if this will happen that we use this bitcoin daily, blockchain will improve their system so that the bitcoin will send faster. Like us when upgrading our cellphones, if we need a faster phone for gaming we need to buy a gaming phone, but if we don't need, we didn't upgrade it  

[Dudeperfect]

   How many members from here have opportunity to use bitcoins in daily life? Less then 50 %, less? I`m not one of them, for now using bitcoins in daily is privilege just for some people who live in big cities or in advanced countries. Bitcoin will not come in my town any time soon, first in capitol city (and far as I know except 2 atms there isnt anything else) and after few years maybe in my town. Only good thing about it that I will have time to collect some amount before it comes.

Exactly, there is not even a single merchant in my town who accepts bitcoin at this moment so I have to convert my bitcoins in fiat in order to spend it. I don’t usually spend bitcoins daily but I usually pay my mobile, internet, DTH bills with bitcoin (fortunately I can do that with the services online). I am sure this picture will change in near future and we would be able spend bitcoins directly.

Here in our country we can use bitcoin to buy stuff, Load, Hotel rent and game credits. We have application called coins.ph where you can use and store your bitcoin. In thus application we can use our bitcoin daily for our needs. And we can cash out bitcoin into cash anytime because of that application.

Instead of being jealous of you, I am optimistic that such things will happen all over the world and we would be able to use bitcoins directly irrespective of country or local currency. There is similar company which is trying to allow users to directly pay their local electricity bills and landline bills etc.

[deisik]

But does zero confirmation system can overcome double spending?
You'll say it's not worth to do it for a cup of coffee, but what if I order coffee for all the office?
20-30 cups of coffee for 1-2$ of fee is almost for free.

Once you actually succeed to double spend a merchant that doesn't need a confirmation, do tell us the story.

It can't be achieved with a certain degree of difficulty. You need to 1st convince the merchant to accept your 0 conf payment, convince a miner to help you mine a replacement transaction. The first is easy, making a replacement transaction without the participation of a miner with a significant amount of hashrate is hard.

Great idea for the coffee part. But merchants will require you to wait for a confirmation. Oh come on, how much time do they need to make 20-30 cups of coffee in the first place?

Necessity is the mother of invention

You would only need to give the bartender a fiat collateral for the amount of coffee you are going to buy (you can leave your gold wristwatch or iPhone), then pay with bitcoins. And while your whole office sits at a coffee break and enjoys your smartness and wisdom, your transaction gets successfully confirmed. Later you return and take back the fiat (or whatever you left). If the transaction doesn't get confirmed eventually, congrats, you have just paid with fiat for the coffee (all the better for your bitcoins). As simple as it gets

But groceries and supermarket is different story, so a different kind of approach is needed on this issue, even waiting for the confirmation will make it more difficult to the customer.  15 minutes is too long to wait after scanning all the goods you made.  Unless bitcoin confirmation takes 1 to 2 minutes, it is not wise to pay with bitcoin directly in this cases

I'd rather say that paying with Bitcoin is not wise in any of these cases

Bitcoin is good money while fiat is bad money, so when you pay with bitcoins for trivial things you are wasting your precious coins. Buying something expensive and durable like houses, cars, yachts is a different matter though. Really, in Medieval Europe both silver and gold coins were accepted as a means of payment, but the gold coin wasn't widely circulated and was mainly used as a store of value or a means of payment for very expensive things (like castles). And this is not a mere coincidence that kings and rulers mostly accepted taxes in pure gold only