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Author Topic: Daily use of bitcoin?  (Read 42050 times)
hollandvan
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February 18, 2017, 10:07:45 AM
 #381

Why would you even want to use bitcoins in routine daily shops? you just need to use bitcoin wherever and whenever it's convenient for you not to replace it with fiat.

Indeed, we can buy online things using bitcoin and it is very easy, on every real store, paying bitcoin is more complex than fiat, right?

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February 18, 2017, 10:31:57 AM
 #382

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.

I think that you're thinking of foldapp which used to offer a discount when you used them to purchase starbucks. It worked by them buying discounted gift cards in bulk and then passing that savings on to Bitcoin users. I'm not sure if it is still around though, I know they had supply issues and had trouble scaling with demand.

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February 18, 2017, 03:29:15 PM
 #383

Why would you even want to use bitcoins in routine daily shops? you just need to use bitcoin wherever and whenever it's convenient for you not to replace it with fiat.
but in most area people do not have the facility to use bitcoin as fiat in local shop. because in most area the shopkeepers do not have any idea about bitcoin therefore they are not accepting bitcoin for shopping but in future we can expect that we will become able to use  bitcoin for shopping in our local shops without converting it in fiat currency.
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February 18, 2017, 03:56:29 PM
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I'm sure technology will find it's way and bitcoin will be used to buy day to day stuff one day. Not sure how tho... we will need to wait and see
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February 18, 2017, 03:57:34 PM
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Well, I guess that inhibits I use bitcoin every day is not the place to use it, but, the number of bitcoin I have. Well, with the income I mmiliki this time, I have to save bitcoin I get, and will probably use it every month. so, it is very difficult to use bitcoin in small amounts every day.

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February 18, 2017, 04:12:39 PM
 #386

Hello friends,
 
I think that the daily use of bit coin is increasing day by day because of its simplicity and high value. Its use is increasing because one can earn it easily and can spend it easily.....
This is all my thought and may not be true..😀😀

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February 18, 2017, 04:23:57 PM
 #387

That is not easy until there is a clear law created by the government stating that the use of bitcoin is not illegal and supported by them. We need the exchanges here to cooperate with the government and since bitcoin is not money but just a payment processor, I guess it would only attract those who are frequently doing online transaction and those who love the technology and invest on it

In case of Bitcoin this is an impossible combination

Really, if Bitcoin is a payment system but Bitcoin itself is not money, then payments in what money does it process? For example, PayPal is a payment processor, and it processes dollar payments (maybe, payments in other currencies too, I'm not sure). Therefore, if you think that Bitcoin is a payment processor, you should necessarily consider Bitcoin as money as well since the only payments that this payment system can process are Bitcoin payments and money is what people use as a means of payment
Well we could use bitcoin as payment process like PayPal, but bitcoin was not created for that it was not meant for this, more of investment than it is a just a payment method or process or whatever you want to call it, but I think now it is considered as a bridge between virtual and real money and a way to make money using more safe and easy methods

You can't use Bitcoin like PayPal

PayPal uses dollars as a value carrier. Using the Bitcoin payment system, you can pay only with bitcoins, i.e. you can't transfer dollars or any other fiat currency through it directly. If you meant to say that the Bitcoin payment system is used for making payments like PayPal does (in general), then that's what any payment system is made for, i.e. making payments, as simple as it gets. Regarding what Bitcoin was specifically conceived for, I'm inclined to think that it was conceived exactly for that end, i.e. for being used as a medium of exchange. In other words, as a currency

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February 18, 2017, 04:25:27 PM
 #388

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?

Good question.  

Right now, I am waiting for a couple more confirmations so I can pay to watch Magic Money: The Bitcoin Revolution with BTC.

Processing time is something of great discussion and perceptions will need to improve.  I believe this should happen through design.  For example, going from command prompt to window/mouse.

Technically, Starbucks payment processing does not begin until they "batch" the system at close.  Then, when the bank opens, the money is added to their account the next day.  

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February 18, 2017, 04:39:59 PM
 #389

Why would you even want to use bitcoins in routine daily shops? you just need to use bitcoin wherever and whenever it's convenient for you not to replace it with fiat.

I agree with you, because using bitcoin in our daily lives does not worth to be spend in the first place. We all know that the bitcoins price is always fluctuating, lower to higher, and higher to lower, in short, PUMP and DUMP, so let's say that you bought something for about 0.001 bitcoin and it is $.50 if it is going to be converted in fiat, then, after a day, 0.001 bitcoin just became $1, so, it doubled its last price, and you have just lost half of it, which could be your profit if you didn't spend your bitcoin.

So, that is why it is not that necessary to use bitcoin in our daily basis, just when we really need to spend it, then that is the right time for us to spend it.

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February 18, 2017, 04:48:18 PM
 #390

In today's situation many people do not know about using bitcoin. We buy things from small shops and platforms the shop keeper does not know about bitcoin. Therefore it is very difficult to use bitcoin in our daily use. But the day will come, every one use bitcoin for buying and selling.   

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February 18, 2017, 05:32:21 PM
 #391

Why would you even want to use bitcoins in routine daily shops? you just need to use bitcoin wherever and whenever it's convenient for you not to replace it with fiat.
but in most area people do not have the facility to use bitcoin as fiat in local shop. because in most area the shopkeepers do not have any idea about bitcoin therefore they are not accepting bitcoin for shopping but in future we can expect that we will become able to use  bitcoin for shopping in our local shops without converting it in fiat currency.
You got the point bitcoin still not so well known currency.. but in brazil there are many stores are accepting bitcoin as payment and i heard also in paris there are 20 stores right now are accepting bitcoin as payment unlike before.. and i feel that bitcoin will be use in daily life someday if more country will accept bitcoin as payment locally gradually more people will use bitcoin..

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February 18, 2017, 06:04:33 PM
 #392

Why would you even want to use bitcoins in routine daily shops? you just need to use bitcoin wherever and whenever it's convenient for you not to replace it with fiat.

I agree with you, because using bitcoin in our daily lives does not worth to be spend in the first place. We all know that the bitcoins price is always fluctuating, lower to higher, and higher to lower, in short, PUMP and DUMP, so let's say that you bought something for about 0.001 bitcoin and it is $.50 if it is going to be converted in fiat, then, after a day, 0.001 bitcoin just became $1, so, it doubled its last price, and you have just lost half of it, which could be your profit if you didn't spend your bitcoin

What if the price goes down instead of going up?

You obviously forget that the price may not only double but may also get halved. Apart from that, your approach is erroneous in essence. If you buy something for about 0.001 bitcoin and then Bitcoin price goes up twice, you don't lose anything since you still have what you have bought. Indeed, if the price doubles you can buy the same thing for half the price (let's assume that its price remains the same in dollar terms), but you don't buy things just for the sake of buying. Most people buy things which they actually need as well as when they need them, and if the price goes up or down soon afterwards is irrelevant to them

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February 18, 2017, 06:28:48 PM
 #393

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?
Paying for things in the real world where time is of essence with bitcoin does not seems like the best idea right now, I think for those kind of transactions is better to use Litecoin simply because it is faster to get a confirmation than with bitcoin.



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February 18, 2017, 06:46:01 PM
 #394

In today's situation many people do not know about using bitcoin. We buy things from small shops and platforms the shop keeper does not know about bitcoin. Therefore it is very difficult to use bitcoin in our daily use. But the day will come, every one use bitcoin for buying and selling.   

I think that can be solved by asking the shopkeeper if Bitcoin is accepted, and if he asks what Bitcoin is then explain it. That takes a lot of time but can have results over time. The more people there'll be asking for Bitcoin, the more people will accept it as a payment and use it.
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February 18, 2017, 07:09:49 PM
 #395

I'm sure technology will find it's way and bitcoin will be used to buy day to day stuff one day. Not sure how tho... we will need to wait and see

Technology might be innovated, but people mindset cannot be shifted so quickly. Many ares in different countries are not aware of Bitcoin till now, and some though knowing does not care about it. So even if technology arrives, the daily usage might not be high. I wish this changes but don't know how much time it would might take.

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February 18, 2017, 07:30:10 PM
 #396

I'm sure technology will find it's way and bitcoin will be used to buy day to day stuff one day. Not sure how tho... we will need to wait and see

Technology might be innovated, but people mindset cannot be shifted so quickly. Many ares in different countries are not aware of Bitcoin till now, and some though knowing does not care about it. So even if technology arrives, the daily usage might not be high. I wish this changes but don't know how much time it would might take.
The fact is almost all people as of today is satisfied what payment options they have now. They seeing Bitcoin as one of those less preferred options in which they think others are nore convenient and fast. What Bitcoin needs to prove is that it can compete with other payment systems.

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February 18, 2017, 08:00:58 PM
 #397

Actually there are millions of transactions being done daily and hence its quite simple to guess that 90% of bitcoiners are using them to trade daily while some guys are storing btc for high price, which also is cool idea.

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February 18, 2017, 08:19:44 PM
 #398

Why would you even want to use bitcoins in routine daily shops? you just need to use bitcoin wherever and whenever it's convenient for you not to replace it with fiat.

I agree with you, because using bitcoin in our daily lives does not worth to be spend in the first place. We all know that the bitcoins price is always fluctuating, lower to higher, and higher to lower, in short, PUMP and DUMP, so let's say that you bought something for about 0.001 bitcoin and it is $.50 if it is going to be converted in fiat, then, after a day, 0.001 bitcoin just became $1, so, it doubled its last price, and you have just lost half of it, which could be your profit if you didn't spend your bitcoin

What if the price goes down instead of going up?

You obviously forget that the price may not only double but may also get halved. Apart from that, your approach is erroneous in essence. If you buy something for about 0.001 bitcoin and then Bitcoin price goes up twice, you don't lose anything since you still have what you have bought. Indeed, if the price doubles you can buy the same thing for half the price (let's assume that its price remains the same in dollar terms), but you don't buy things just for the sake of buying. Most people buy things which they actually need as well as when they need them, and if the price goes up or down soon afterwards is irrelevant to them
I agree. People is especially sensible with bitcoin in this matter, but in real economy all prices are continuously moving up or down according to the basic laws of economy (inflation-devaluation, supply-demand, etc), and this is more evident in the price of commodities (remember, bitcoin is also considered as a commodity!!!) although it is true that in the case of bitcoin its price is usually a bit more volatile.

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February 18, 2017, 08:21:03 PM
 #399

That day will surely come in future
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February 19, 2017, 08:05:21 AM
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Actually there are millions of transactions being done daily and hence its quite simple to guess that 90% of bitcoiners are using them to trade daily while some guys are storing btc for high price, which also is cool idea.

The users of bitcoin will definitely use bitcoin for trading on daily basis and that's how they are generating profits from it but the fact is bitcoin is not used in real life at a moment as there are not many shops that accepts bitcoins as a mode of payment so using bitcoin in real life is still very limited.

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