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Author Topic: Daily use of bitcoin?  (Read 41891 times)
LibreMan
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February 27, 2017, 05:21:22 AM
 #481

I am using bitcoin every day and the result of my daily use of bitcoin is profits from my way of earning bitcoin using bitcoins. Im using my bitcoins mostly on trading and gambling to earn more bitcoins as the time goes. In withdrawing my bitcoins and converting it into local currency is mostly I do it every week to have cash to spend in my daily life.

Can you meet your daily basic needs with bitcoin? Market shopping, clothing needs etc.

No, I can't meet daily basic needs with bitcoin.In my country, no one shopping center accept bitcoin as a payment processor.Even, they don't know about bitcoin.Here only young generation knows only about bitcoin. Bitcoin meets me some necessary tools that I need much time, like VPS, VPS,Domain, Hosting etc.With the purposes of bitcoin, I can easily buy them.

I think Bitcoin is more preferred for online products. It is not used too much in the exchange of real life products.
First of all, people have not even heard of bitcoin. Even among people who are interested in technology, bitcoins can be people who do not hear the name.
but still there are some are where the number of bitcoin users are more than other areas and therefore in such areas people have the facilities to use bitcoin even in their local market for shopping. i am hopeful that very soon bitcoin will be use everywhere as fiat in local shop.

This will take some time to be fully realized. Even online payment systems with bitcoin have not become fully widespread.
But an initiative project can be done about it. Investments can be made to allow companies to accept payments as bitcoins.

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February 27, 2017, 05:38:54 AM
 #482

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?
Hi Michel, I don't think bitcoin is taking that much time to get transaction sent, I mean, its nearly immediately transfer after your command. And the most problem is just about the confirmation of transaction. And yes, maybe sometime its take long to be confirmed but maybe in just about 30-45 minutes, and some store like Starbucks (in this case) if they accept using bitcoin for payment, I think they will find ways to approve that your deal should be completed in about 1-2 minutes after your sending.
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February 28, 2017, 04:11:42 PM
 #483

Could maybe a pre-blockchain part be implemented? Like a system that accepts payments, transactions, in seconds and when then later on it syncs with the blockchain and confirmations? Like a storage of transactions where all are stored before sent out.
If you really wanted to use bitcoin on a day to day activity the best possible solution is to start using a bitcoin debit card and there are some companies that provide bitcoin debit card.So the case is closed i guess.  Wink
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February 28, 2017, 04:56:44 PM
 #484

Could maybe a pre-blockchain part be implemented? Like a system that accepts payments, transactions, in seconds and when then later on it syncs with the blockchain and confirmations? Like a storage of transactions where all are stored before sent out.
If you really wanted to use bitcoin on a day to day activity the best possible solution is to start using a bitcoin debit card and there are some companies that provide bitcoin debit card.So the case is closed i guess.  Wink
Yes in that case you have free will to use daily your bitcoin if you have debit card.  Like coins.ph they issue debit card that a nice one because no need to wait an approval before you get what you want. Really good reply op.

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February 28, 2017, 05:30:27 PM
 #485

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?

In my case, I usually used bitcoin in my daily life through money transferring in the remittances nationwide here in my country. It's very useful actually. But never experience to use my bitcoin like in the fine dining coffee shop which Starbucks maybe a weeks from now I'm gonna try it.

.
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virusasog
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February 28, 2017, 05:35:10 PM
 #486

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?

In my case, I usually used bitcoin in my daily life through money transferring in the remittances nationwide here in my country. It's very useful actually. But never experience to use my bitcoin like in the fine dining coffee shop which Starbucks maybe a weeks from now I'm gonna try it.

Nope there is no any official announcement from Starbucks about accepting bitcoins. Still bitcoin doesn't reached the position like the fiat currency how we use in day today life. It's not widely accepted by the businesses and government. Then only it is possible.
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February 28, 2017, 05:57:49 PM
 #487

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?

In my case, I usually used bitcoin in my daily life through money transferring in the remittances nationwide here in my country. It's very useful actually. But never experience to use my bitcoin like in the fine dining coffee shop which Starbucks maybe a weeks from now I'm gonna try it.

Nope there is no any official announcement from Starbucks about accepting bitcoins. Still bitcoin doesn't reached the position like the fiat currency how we use in day today life. It's not widely accepted by the businesses and government. Then only it is possible.

I too have came across several news portal that Starbucks accept bitcoins. We don't know what's the truth, I too convert to Fiat for my daily needs as it's really hard to find stores that accept bitcoins. These days even bitcoin accepting shops might have given a break due to the confirmation delay.

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February 28, 2017, 06:19:41 PM
 #488

I don't think there is a need to wait for the confirmation, if a fee recommended or little above is paid you'll get faster confirmations. Hopefully in the future this kind of things can be reduce, if the transaction speed being increase i am sure many store will start to adapt bitcoin and more user will be happy to used bitcoin.

Confirmation in transaction is not a problem anymore, just take a look at how we bought digital goods. As soon as we send the amount to the address provided by the site, it immediately mark our transaction paid after a few seconds. If that's what the stores in real life will use, then transaction confirmation won't be a problem.

But if we will use the traditional confirmation waiting, then that will really slow down the transactions in the stores or if you want it fast then you pay high transaction fee.
Yes , transactions confirmation is not actually a problem anymore especially when you use an application appropriate for your transaction. Here in my country we have an application called coin.ph , in this you can use the most out of bitcoin. You can paybills , buyload or even convert to money on other transaction you have. It's a wallet too at the same time so you could actually save lot of bitcoin while using it at the same time.
The problem right now is not how to spend bitcoin, it is making people use bitcoin more and more and improving the transaction time which is becoming more and more slow, people only use bitcoin as an investment not as a way of payment, they earn bitcoin and then they change it to fiat and spend it and we need to change that idea.

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MMA
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February 28, 2017, 06:53:45 PM
 #489

I am using bitcoin every day and the result of my daily use of bitcoin is profits from my way of earning bitcoin using bitcoins. Im using my bitcoins mostly on trading and gambling to earn more bitcoins as the time goes. In withdrawing my bitcoins and converting it into local currency is mostly I do it every week to have cash to spend in my daily life.

Can you meet your daily basic needs with bitcoin? Market shopping, clothing needs etc.

No, I can't meet daily basic needs with bitcoin.In my country, no one shopping center accept bitcoin as a payment processor.Even, they don't know about bitcoin.Here only young generation knows only about bitcoin. Bitcoin meets me some necessary tools that I need much time, like VPS, VPS,Domain, Hosting etc.With the purposes of bitcoin, I can easily buy them.

I think Bitcoin is more preferred for online products. It is not used too much in the exchange of real life products.
First of all, people have not even heard of bitcoin. Even among people who are interested in technology, bitcoins can be people who do not hear the name.
but still there are some are where the number of bitcoin users are more than other areas and therefore in such areas people have the facilities to use bitcoin even in their local market for shopping. i am hopeful that very soon bitcoin will be use everywhere as fiat in local shop.

This will take some time to be fully realized. Even online payment systems with bitcoin have not become fully widespread.
But an initiative project can be done about it. Investments can be made to allow companies to accept payments as bitcoins.

i think online payment system has been improved too much. i think now all online shops accept bitcoin and there are so many other business where they also accept bitcoin as payment. so i can say that bitcoin is now spread in all over the world and is continuously increasing.

.

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February 28, 2017, 07:03:48 PM
 #490

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?

In my case, I usually used bitcoin in my daily life through money transferring in the remittances nationwide here in my country. It's very useful actually. But never experience to use my bitcoin like in the fine dining coffee shop which Starbucks maybe a weeks from now I'm gonna try it.

Nope there is no any official announcement from Starbucks about accepting bitcoins. Still bitcoin doesn't reached the position like the fiat currency how we use in day today life. It's not widely accepted by the businesses and government. Then only it is possible.

I too have came across several news portal that Starbucks accept bitcoins. We don't know what's the truth, I too convert to Fiat for my daily needs as it's really hard to find stores that accept bitcoins. These days even bitcoin accepting shops might have given a break due to the confirmation delay.

Maybe in some country, they are accepting, but I am not sure and not heard this news in anywhere. But we have one chance to pay your coffee bill through bitcoin. How means through bitcoin debit card. We can pay our bills through this card. But only in the limited country, we have this card facility. Other than this I don't have any idea how to use bitcoins directly in the real world.
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February 28, 2017, 09:37:23 PM
 #491

Could maybe a pre-blockchain part be implemented? Like a system that accepts payments, transactions, in seconds and when then later on it syncs with the blockchain and confirmations? Like a storage of transactions where all are stored before sent out.

Yep, they are mostly referred to as off-chain transactions. Lightning Network is something that could bring Bitcoin to next level. It offers instant transactions at ultra low cost since they are done off the blockchain. It will allow Bitcoin more than ever to function as the ultimate micro transacting tool. Imagine how popular that will make Bitcoin in third world countries as they depend on micro transactions. Using Bitcoin as payment solution in physical stores won't be an issue anymore. Huge benefits.
Yes, but miners don’t seem to be very eager to activate it, and I cannot really blame them they are in bitcoin to earn money and I think the lightning network will affect them  in their profits so we are in a deadlock.



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March 09, 2017, 02:03:54 PM
 #492

It can use to pay your bill and you can also use it to trading and investing to get more income.When you use bitcoin think wisely because there are lot of scammer that will take your money.

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March 10, 2017, 03:07:32 PM
 #493

I don't think there is a need to wait for the confirmation, if a fee recommended or little above is paid you'll get faster confirmations. Other than this once after sending the receiver end gets the transacted amount under the unconfirmed transaction list. This itself helps the receiver a hope of receiving the payment.

How fast is the fastest confirmation of payments? And how much to pay for quick approval?
Bitcoin blocks are generates every 10 minutes, so in theory as long as you are using proper fee your transaction should be included as confirmed in the next mined block.
But usually with standard fee your transaction might have a delay between 1-3 blocks.
Miners will usually incorporate transactions with the highest fee/byte ratio first so the higher your fee is, the faster your tx will be confirmed.

If you want to check which fee should you use, check this site: https://bitcoinfees.21.co/

I think for me, the daily use of bitcoins is somehow for my investment, daily needs and some extra jobs. Investment because even I earn many bitcoin I will use it to invest in some sites so that even if I am using it, it doesn't lose little by little. And second daily needs, every person has its own daily needs that need to sustain. So for me, I use bitcoin to sustain it so that even if my needs is many I able to support it. And sometimes I gave some to my parent's so that I can help even in little things. And last extra jobs, in my bitcoin I use it to make some extra jobs. In our place I mae a extra jobs or reloading. Using my bitcoins I reload to som people to make extra income. That's All. Goodluck Bitcoiners! Smiley

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March 15, 2017, 12:45:32 PM
 #494

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?
We had a merchant here who accepted bitcoin, if I want to buy bitcoin I'm just gonna show the reference number to the cashier and that tracking which I gave can directly transferred to my wallet in the site of the merchant. Very convenient to use and affordable too.

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March 15, 2017, 01:07:58 PM
 #495

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?
We had a merchant here who accepted bitcoin, if I want to buy bitcoin I'm just gonna show the reference number to the cashier and that tracking which I gave can directly transferred to my wallet in the site of the merchant. Very convenient to use and affordable too.
Having to see it that way makes me think it is convenient but comparing it to using Fiat money it makes it more inconvenient because of the added steps that require a tracking number. By using Fiat you only give them your money then you are good to go. Also using Bitcoin does not make anything affordable, Bitcoin has a value in the market based on Fiat currency which means you are paying the same amount for the item you are buying.

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March 15, 2017, 01:17:13 PM
 #496

It can use to pay your bill and you can also use it to trading and investing to get more income.When you use bitcoin think wisely because there are lot of scammer that will take your money.
Not only with bitcoin everywhere scammers were found much. Something important is that scammers focus much on we the newbies. Several threads indicate newbies to be safe.

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March 15, 2017, 01:39:41 PM
 #497

I think quite the show txid bitcoin delivery to the address of the seller.

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March 15, 2017, 07:01:40 PM
 #498

I don't think there is a need to wait for the confirmation, if a fee recommended or little above is paid you'll get faster confirmations. Other than this once after sending the receiver end gets the transacted amount under the unconfirmed transaction list. This itself helps the receiver a hope of receiving the payment.

How fast is the fastest confirmation of payments? And how much to pay for quick approval?
Bitcoin blocks are generates every 10 minutes, so in theory as long as you are using proper fee your transaction should be included as confirmed in the next mined block.
But usually with standard fee your transaction might have a delay between 1-3 blocks.
Miners will usually incorporate transactions with the highest fee/byte ratio first so the higher your fee is, the faster your tx will be confirmed

Just noticed this post quoted by the poster above

As they say, in theory there is no difference between theory and practice, though in practice there is. And, as I've been told by a developer of a mining program, some rogue miners deliberately choose not to include any transactions in the blocks they find (apart from their own, of course). So whatever fee you may want to use, your transaction may still not get included in the next block. Other than that, the idea of a "proper fee" seems to be a little deceiving or misleading (or not a little). If you count a proper fee the fee which is greater than all other fees of pending transactions, then I don't think that this is a proper definition of what a proper fee should be (pardon the pun)

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March 18, 2017, 09:59:26 AM
 #499

My daily used of bitcoin was always applied in my daily routine in life, the merchants we had here in my country often helped out out on money transfer nationwide via bitcoin. And also buying load into my mobile phone, then I deposited cash amount in my bank account form bitcoin through merchant who accepted bitcoin.

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March 18, 2017, 10:07:06 AM
 #500

My daily used of bitcoin was always applied in my daily routine in life, the merchants we had here in my country often helped out out on money transfer nationwide via bitcoin. And also buying load into my mobile phone, then I deposited cash amount in my bank account form bitcoin through merchant who accepted bitcoin.
Where are you from? I live in Serbia and here still there is no a place or bank that would accept bitcoin. So, for my daily use I need to cash out my coins and pay 10% fee to some guy who provide this operations here.
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