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Author Topic: Daily use of bitcoin?  (Read 41958 times)
hajimasan
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January 19, 2017, 11:00:44 AM
 #141

It's not a daily use item for me because i have such  a low amount that can't be use multi times so I use only when I gather enough amount to spend on something. But it's my daily routine to earn money through bitcoin but not too use it as daily basis.


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January 19, 2017, 11:08:27 AM
 #142

I have never make a fast and quick Bitcoin transaction like the one you given.

Personally, I think that Bitcoin transaction is not slow at all - at least for me, when purchasing online. Bitcoin transaction usually take about ten minutes. That mean for online purchase Bitcoin is a viable payment method. However for instance purchase like the one you mentioned, it is at a disadvantage - it is very slow.

A interesting mention. When I top-up my Bitcoin to my Namecheap balance, the top-up usually happen instantly. I checked Blockchain and the transaction I send not confirmed yet - not even one. I am not sure why, maybe BitPay have some sort of algorithm to see if a transaction from a specific address 'can' be valid or not. Since I am not an expert in this field, I think I shall stop here and let someone with more experience continue.

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January 19, 2017, 11:41:02 AM
 #143

I have never make a fast and quick Bitcoin transaction like the one you given.

Personally, I think that Bitcoin transaction is not slow at all - at least for me, when purchasing online. Bitcoin transaction usually take about ten minutes. That mean for online purchase Bitcoin is a viable payment method. However for instance purchase like the one you mentioned, it is at a disadvantage - it is very slow.

A interesting mention. When I top-up my Bitcoin to my Namecheap balance, the top-up usually happen instantly. I checked Blockchain and the transaction I send not confirmed yet - not even one. I am not sure why, maybe BitPay have some sort of algorithm to see if a transaction from a specific address 'can' be valid or not. Since I am not an expert in this field, I think I shall stop here and let someone with more experience continue

I'm not an expert but I guess they are just making it more convenient for their users. Since you can't spend your balance in any way from that service if I'm not mistaken, it doesn't really matter how fast your transaction gets confirmed. If it gets confirmed in a day or two, that shouldn't be a big deal. If it gets rejected after 72 hours (or what is the transaction expire time), your balance will just get debited in the same manner as it got credited before...

Two days of waiting is not a long term while instant deposits are surely convenient for clients

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January 19, 2017, 04:26:45 PM
 #144

   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. Smiley

   This is indicator how much your country or town are more aware of bitcoin then its case with mine for example. Probably that is a good business now to start application like that coins.ph is, and who ever start that first in countries where there is not yet such service he will earn a lot of money.
   Years will pass until that come here, as I sad like always first will be capitol city and only after they make something there I can expect that to be available in my place as well. Until then I will keep my coins, and I will continue to earn more.
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January 19, 2017, 04:32:04 PM
 #145

   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. Smiley

   This is indicator how much your country or town are more aware of bitcoin then its case with mine for example. Probably that is a good business now to start application like that coins.ph is, and who ever start that first in countries where there is not yet such service he will earn a lot of money.
   Years will pass until that come here, as I sad like always first will be capitol city and only after they make something there I can expect that to be available in my place as well. Until then I will keep my coins, and I will continue to earn more.
Competition would really rise specially when people found out about bitcoin and its benefits and you cant really stop that thing.Its really normal for bitcoin to start on the capital country and when the adoption is spreading it will surely reach your place in no time but for now saving up bitcoin would be the best move.Confirmation doesnt really an issue at all since transactions are irreversible.

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January 19, 2017, 04:39:04 PM
 #146

   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. Smiley

   This is indicator how much your country or town are more aware of bitcoin then its case with mine for example. Probably that is a good business now to start application like that coins.ph is, and who ever start that first in countries where there is not yet such service he will earn a lot of money.
   Years will pass until that come here, as I sad like always first will be capitol city and only after they make something there I can expect that to be available in my place as well. Until then I will keep my coins, and I will continue to earn more.
Its a big help honestly about coins.ph here in my country i am in same place and they are added many services that you can use..
We can also use it as remitances nationally here in my country pay bills like electric bill and internet bill the other thing you can use your bitcoin to shop online everywhere like amazon but you need to use the service of vcc that you can fill your bitcoin into vcc and verified paypal that you can shop anywhere online. .

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January 19, 2017, 04:40:50 PM
 #147

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 as long as you add sufficient tx fee you should be fine. Credit card can cost $0.30 for a transfer so if you do the same with bitcoin it will be fast. Under 2 minutes or faster even. This shouldn't be a problem.

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January 19, 2017, 06:55:49 PM
 #148

Bitcoin is not suitable for daily shopping. It does not make much sense to pay high fee values to buy cheap products. But it may make sense to use bitcoin to purchase expensive items. For example, it would not be a problem to pay high fee values to buy a house or car. Also, we do not need to hurry to buy expensive items. We can expect the payment to be confirmed.
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January 19, 2017, 08:06:28 PM
 #149

It's not a daily use item for me because i have such  a low amount that can't be use multi times so I use only when I gather enough amount to spend on something. But it's my daily routine to earn money through bitcoin but not too use it as daily basis.
although i have a good amount of bitcoin in my account, that i am earning from trading alt con, but still i cannot use it for my daily use, because in my area i do not have the opportunity to use bitcoin for shopping in our local shops.

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January 19, 2017, 10:11:14 PM
 #150

For some people it may be something hard if they will be in hurry but most of the people will tolerate it just like they are doing at online transactions. They wait and they do not mind to wait because they are getting some other a lot of profits too and because of one thing they will not leave a bunch of benefits.



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January 19, 2017, 11:44:25 PM
 #151

Bitcoin is not suitable for daily shopping. It does not make much sense to pay high fee values to buy cheap products. But it may make sense to use bitcoin to purchase expensive items. For example, it would not be a problem to pay high fee values to buy a house or car. Also, we do not need to hurry to buy expensive items. We can expect the payment to be confirmed.
The bitcoin is for the sync of people around the world.
If we're thinking about our daily life and fiat already provide whatever you want. The daily use won't suitable for bitcoin, at least the bitcoin must have had a blocksize to covering all of the daily transaction.

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January 19, 2017, 11:50:55 PM
 #152

For some people it may be something hard if they will be in hurry but most of the people will tolerate it just like they are doing at online transactions. They wait and they do not mind to wait because they are getting some other a lot of profits too and because of one thing they will not leave a bunch of benefits.

I'd have to disagree humans always want things faster.

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January 20, 2017, 04:25:44 AM
 #153

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 as long as you add sufficient tx fee you should be fine. Credit card can cost $0.30 for a transfer so if you do the same with bitcoin it will be fast. Under 2 minutes or faster even. This shouldn't be a problem.

That's the only secret for it, just pay the miners fee and each of your transactions will be fine. Most of the complain of other bitcoiner because of confirmation delays or anything related to it, not knowing that they haven't paid that miners fee, so that's the consequence for not paying it. They will have hard time to get confirmed.
i think the minor fee should be defined so that confusion is over. A exchange much have a fixed amount of transaction fee so what when we transfer fund from one place to another we all add the fixed transaction fee also, to me i think there must be a check on the transaction fee of the different exchanges and it must be regularize, because some exchanges are charging more as compare to other exchanges.

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January 20, 2017, 04:33:50 AM
 #154

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 definitely think it is a problem because it springs up the question, "Why don't we use fiat because it has no fees?". And that is true. But I think that Bitcoin isn't meant for day to day transactions at the moment. Even though you can use it for that purpose, it is smarter to use fiat daily and then use your Bitcoin when you really have to, like for bigger items that you can wait a bit longer to purchase. Saying that, the fees aren't that big a deal to most people, and if you are willing to pay a bit more fees, you should only be waiting 20 minutes at max.

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Reid
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January 20, 2017, 04:35:44 AM
 #155

I have the same problem with the approval time but still I think it is the fastest for me. Though with your example in coffee shop it might get wrong anytime so it would still be better if you bring some cash. Just try the bitcoin transaction first. This things will be developed in some time for us to use it in our daily needs. There are apps now that can manage to be used when buying but still the problem would be the transaction time.

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January 20, 2017, 11:08:38 AM
 #156

The confirmations depends on the person who accepts the
Some require 5 confirmation
So places like coffee shops or cafes except 1 confirmation  but yeah it depends in my place no one excepts bitcoin they have barely heard and i won't recommend you to pay bitcoins just keep as an investment
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January 20, 2017, 12:03:21 PM
 #157

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 definitely think it is a problem because it springs up the question, "Why don't we use fiat because it has no fees?". And that is true. But I think that Bitcoin isn't meant for day to day transactions at the moment. Even though you can use it for that purpose, it is smarter to use fiat daily and then use your Bitcoin when you really have to, like for bigger items that you can wait a bit longer to purchase. Saying that, the fees aren't that big a deal to most people, and if you are willing to pay a bit more fees, you should only be waiting 20 minutes at max.
Well here in my country if we are want to shop online like amazon we can use the service like in coins.ph they are now added vcc feature that you can shop online so its not a problem right now for instant shopping.i don't think for other country if they the same legal online wallet that let people use vcc to buy online and connect to paypal verified..
Since bitcoin still not fix the instant feature we can use vcc as alternative.

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January 20, 2017, 12:13:07 PM
 #158

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?

Do you mean confirmation when you have said "approval", if yes, then I don't think that this is necessary because if you already send the bitcoin as the payment on whatever you bought on starbucks then you can leave it because that bitcoin that you have paid to them would be surely send to them but it will take some time because this transaction would be confirm first on the blockchain which is traffic sometimes due to many bitcoin transactions on going.

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January 20, 2017, 03:04:30 PM
 #159

   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. Smiley

   This is indicator how much your country or town are more aware of bitcoin then its case with mine for example. Probably that is a good business now to start application like that coins.ph is, and who ever start that first in countries where there is not yet such service he will earn a lot of money.
   Years will pass until that come here, as I sad like always first will be capitol city and only after they make something there I can expect that to be available in my place as well. Until then I will keep my coins, and I will continue to earn more.
Its a big help honestly about coins.ph here in my country i am in same place and they are added many services that you can use..
We can also use it as remitances nationally here in my country pay bills like electric bill and internet bill the other thing you can use your bitcoin to shop online everywhere like amazon but you need to use the service of vcc that you can fill your bitcoin into vcc and verified paypal that you can shop anywhere online. .

That's really great. I know a group of bitcoin users in my town and they are very excited about bitcoin and wish to bring bitcoin services such as paying the bills, exchanging it with fiat. They are also planning to bring the first bitcoin ATM in town and it will be one of the top 10 early installed bitcoin ATMs in the country. I believe that lack of awareness is not a limitation but an opprtunity to build an empire.

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January 23, 2017, 09:08:56 PM
 #160

If you are always in a hurry then paying bitcoins to starbucks is time consuming. Even 1 confirmation will take very long if the miners fee is low. But if you are not in a hurry paying starbucks using bitcoin is a good experience in your coffee hours. But for me bitcoin is not yet ready to be used in offline shops, if there are many customers there will be a delay in the payments that can cause bad experience to the store and also to the customers.

But some shops accept payments made with bitcoin. How is the process going through the payment approval process? When customer drinked coffe and wants to pay the account, minimum 10 min will he wait in the cafe all along?
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