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Author Topic: Daily use of bitcoin?  (Read 42050 times)
laredo7mm
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February 19, 2017, 08:15:01 AM
 #401

I am using bitcoins daily bust that is only for online purposes for say trading or gambling apart from that I don't find any place where I can use bitcoin especially for buying physical stuffs so if I have to use my bitcoins then I need to convert it to my local currency first and then spend.
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grandy
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February 19, 2017, 08:56:29 AM
 #402

I am using bitcoins daily bust that is only for online purposes for say trading or gambling apart from that I don't find any place where I can use bitcoin especially for buying physical stuffs so if I have to use my bitcoins then I need to convert it to my local currency first and then spend.
yes most of the people are using bitcoin for online purposes actually the use of bitcoin not yet so common in offline shops that is why people are only using it for online purpose. but in some area where the number of bitcoin users are more are using bitcoin even in their local shops, but i think if the users of bitcoin will increase in other areas then they will also become able to use bitcoin in their local shops.



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Catswold
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February 19, 2017, 09:21:52 AM
 #403

I am using bitcoins daily bust that is only for online purposes for say trading or gambling apart from that I don't find any place where I can use bitcoin especially for buying physical stuffs so if I have to use my bitcoins then I need to convert it to my local currency first and then spend.
yes most of the people are using bitcoin for online purposes actually the use of bitcoin not yet so common in offline shops that is why people are only using it for online purpose. but in some area where the number of bitcoin users are more are using bitcoin even in their local shops, but i think if the users of bitcoin will increase in other areas then they will also become able to use bitcoin in their local shops.

Using bitcoins at local shops will depend on the popularity of bitcoin in that particular area if people are tech savvy and are aware about bitcoins then there will be many physical shops that will be willing to accept bitcoins as a payment method so it will totally depend on the demand of bitcoins.

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February 19, 2017, 10:44:17 AM
 #404

I mostly use bitcoins to buy online digital goods (mostly games). Other uses would include exchanging bitcoin for Paypal currency which I find extremely helpful where the cryptocurrency isn't accepted.
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February 19, 2017, 10:50:48 AM
 #405

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.

Yes, and that million of transactions is being a problem. Though not all of them I think is for the purpose of trading, I think 60 to 70 is trading, the others are deposits and withdrawal in a casino and wallets.
Others are payment and earnings. There are lots of transactions being done, but mostly the transactions that I made is all about payment from the signature campaign and withdrawal in a faucet.
After that I exchange it to real money and use it for financial problems here in our house. Lots of debts to be paid.


 
 
 
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YuginKadoya
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February 19, 2017, 11:03:54 AM
 #406

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.

Yes, and that million of transactions is being a problem. Though not all of them I think is for the purpose of trading, I think 60 to 70 is trading, the others are deposits and withdrawal in a casino and wallets.
Others are payment and earnings. There are lots of transactions being done, but mostly the transactions that I made is all about payment from the signature campaign and withdrawal in a faucet.
After that I exchange it to real money and use it for financial problems here in our house. Lots of debts to be paid.

Probably not all could really understand how trading works it would take so much time in understanding how it works and In my case I spend 3 months in learning and accepting it as a possible thing for me to earn bitcoin and  I think that now that I have learn it I understand now why many people are thinking bitcoin as an investment and trading is the main reason for it.


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meelvanchris
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February 19, 2017, 11:56:30 AM
 #407

I am using bitcoin for mobile top up and skype recharge as those are the only places where I can spend my bitcoins directly as I don't see any scope in using them at offline stores as bitcoin is not yet developed in my country so rest of them I am saving for future benefits.

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February 19, 2017, 12:09:21 PM
 #408

I am using bitcoin for mobile top up and skype recharge as those are the only places where I can spend my bitcoins directly as I don't see any scope in using them at offline stores as bitcoin is not yet developed in my country so rest of them I am saving for future benefits.
That is the best, saving bitcoin for future benefits. Here in our country bitcoin is not also fully recognized and i think there is no offline store that accepts bitcoin here but i'm also just waiting and at the same time, saving bitcoin so if the bitcoin will be fully recognize and adopted here in our country then it will be a great benefit for us.

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February 19, 2017, 12:17:37 PM
 #409

I am using bitcoins daily bust that is only for online purposes for say trading or gambling apart from that I don't find any place where I can use bitcoin especially for buying physical stuffs so if I have to use my bitcoins then I need to convert it to my local currency first and then spend.
to conduct online or buy goods online of course I will try to use bitcoin as currency. but to buy goods on offline. of course I would choose to convert bitcoin to fiat to buy
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February 19, 2017, 12:19:33 PM
 #410

Altcoin trading, deposit via bitcoin, most exchange accept btc but not fiat so btc has its own value in the crypto industry Smiley





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bitbob82
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February 19, 2017, 02:02:44 PM
 #411

I am using bitcoins daily bust that is only for online purposes for say trading or gambling apart from that I don't find any place where I can use bitcoin especially for buying physical stuffs so if I have to use my bitcoins then I need to convert it to my local currency first and then spend.
yes most of the people are using bitcoin for online purposes actually the use of bitcoin not yet so common in offline shops that is why people are only using it for online purpose. but in some area where the number of bitcoin users are more are using bitcoin even in their local shops, but i think if the users of bitcoin will increase in other areas then they will also become able to use bitcoin in their local shops.

Using bitcoins at local shops will depend on the popularity of bitcoin in that particular area if people are tech savvy and are aware about bitcoins then there will be many physical shops that will be willing to accept bitcoins as a payment method so it will totally depend on the demand of bitcoins.
for example in Brazil there are so many shops who are accepting bitcoin for shopping while in my area there is not a single shop who is accepting bitcoin and may be the reason is that bitcoin users are not so many here in my areas. while in our capital there i know only one shop who are accepting bitcoin for shopping.
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February 19, 2017, 02:24:01 PM
 #412

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

Bitcoin price is volatile indeed, but Bitcoin itself is considered only as a commodity and only in a few countries (such as the US). Apart from these and on the basis of its nature, Bitcoin is basically a financial asset (like bonds, currencies, or derivatives), not a commodity. And between financial assets its volatility is in fact nothing out of the ordinary. Some stocks (not even speaking of derivatives like futures or options) may have comparable volatility if not higher

Regarding real commodities, crude oil is as volatile as hell

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February 19, 2017, 02:37:40 PM
 #413

Altcoin trading, deposit via bitcoin, most exchange accept btc but not fiat so btc has its own value in the crypto industry Smiley

depositing bitcoin in an altcoins exchange is not called bitcoin usage, that is investing the investment. and people do it to increase their bitcoin amount by joining the pump and dumps in altcoin market.

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February 19, 2017, 02:54:02 PM
 #414

Fiat currency is a lot easier than bitcoin for trading in person, because the shop would have to change their address every time to verify who it was, plus the transactions take a long time to actually verify - the transaction I'm doing right now is a similar size to what you would pay in these shops and it's taken over 15 minutes.
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February 19, 2017, 03:11:58 PM
 #415

Daily use of bitcoin is impassible in present synario. We can use bitcoin for online purchases, difficult to use local shopes . For our daily use we buy things from local shopes not from online so using bitcoin for our daily use is immpasible untill every knows and use bitcoin.

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February 19, 2017, 03:15:07 PM
 #416

I am using bitcoins daily bust that is only for online purposes for say trading or gambling apart from that I don't find any place where I can use bitcoin especially for buying physical stuffs so if I have to use my bitcoins then I need to convert it to my local currency first and then spend.
yes most of the people are using bitcoin for online purposes actually the use of bitcoin not yet so common in offline shops that is why people are only using it for online purpose. but in some area where the number of bitcoin users are more are using bitcoin even in their local shops, but i think if the users of bitcoin will increase in other areas then they will also become able to use bitcoin in their local shops.

Using bitcoins at local shops will depend on the popularity of bitcoin in that particular area if people are tech savvy and are aware about bitcoins then there will be many physical shops that will be willing to accept bitcoins as a payment method so it will totally depend on the demand of bitcoins.
for example in Brazil there are so many shops who are accepting bitcoin for shopping while in my area there is not a single shop who is accepting bitcoin and may be the reason is that bitcoin users are not so many here in my areas. while in our capital there i know only one shop who are accepting bitcoin for shopping.

If only one shop is accepting bitcoin as a mode of payment then it won't help as we need more places to spend our bitcoins and I don't see it happening at a moment as majority of population is unaware about bitcoin and it will take long time for bitcoin to reach them.

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February 21, 2017, 10:09:31 PM
 #417

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.
This is the right approach we cannot try to use a hammer for a task that requires a saw, bitcoin is great as an online payment tool but in the physical world then it is way harder to match what we can do so effortlessly with cash or a debit card.



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February 22, 2017, 12:27:25 AM
 #418

In my country, the bitcoin is not used too much in the exchange of real life products. It's rare, you know, at the moment, I only know one coffee store accepts bitcoin to be paid. In some countries, you must changes it to that country's currency for using.
I think it's good enough to use bitcoin in online - shops. But I hope oneday, when all the people know about bitcoin, we can use it in real life, that's good signal for our life.

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February 22, 2017, 01:06:54 AM
 #419

I use bitcoin for some shopping online, pay the electricity token, pulse and so on. the thing that makes me happy is bitcoin transactions with more rapid and inexpensive cost.
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February 22, 2017, 01:15:24 AM
 #420

A reward system could be a good way to enhance usage in local shops. If for every bitcoin transaction, one is rewarded with rebates or points or perks, that could potentially attract more users because not only could they benefit from cashless transactions but also they could collect rewards just for doing so. Many online shops are already doing that but it might be a while for these physical shops to start adopting such a strategy.
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