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Author Topic: Daily use of bitcoin?  (Read 42053 times)
Altas
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April 10, 2017, 03:56:35 PM
 #641

 I don"t thing using bitcoin for our daily use is easy. Because it is not legal in many countries. We can not buy things from small shops with bitcoin. In present situation if we want to use bitcoin we have to change it to dollar or any other currency.

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traderethereum
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April 10, 2017, 04:49:36 PM
 #642

I don"t thing using bitcoin for our daily use is easy. Because it is not legal in many countries. We can not buy things from small shops with bitcoin. In present situation if we want to use bitcoin we have to change it to dollar or any other currency.

i am agree and for us that don't want to spend our bitcoin, the best thing that we can do is keep saving our bitcoin in our wallet so our bitcoin will be growth in future. but if we can see that there is a local store that accepting bitcoin, then we can trying to spend our bitcoin to buy something in that store.

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the.jack20
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April 10, 2017, 04:56:14 PM
 #643

I don"t thing using bitcoin for our daily use is easy. Because it is not legal in many countries. We can not buy things from small shops with bitcoin. In present situation if we want to use bitcoin we have to change it to dollar or any other currency.

It is very easy to shop with bitcoin when you enter the appropriate fee values. You can make payments for any small or large product with bitcoin.
You are right about legal regulations. It may be a problem to use bitcoin if there are legal sanctions in your country.
But as a payment system, bitcoin is a very good method.
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April 10, 2017, 04:59:56 PM
 #644

Yes even I heard that Starbucks is accepting bitcoins,
And your concern is right that transactions may take some time to confirm.
And it would be very cubersome for you to ,
Leave the premises of Starbucks untill your payment is done.
If at all your transaction is not confirmed on time.
I think paying via Fiat is best for the time being.

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April 10, 2017, 08:02:57 PM
 #645

I don"t thing using bitcoin for our daily use is easy. Because it is not legal in many countries. We can not buy things from small shops with bitcoin. In present situation if we want to use bitcoin we have to change it to dollar or any other currency.
i think it is very easy to use bitcoin in our daily use, although there are some hurdle but still it is not so difficult to use it specially in such area where the shops accept bitcoins.
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April 10, 2017, 08:21:51 PM
 #646

I use to buy a voucher, pay bills online, buy a phone and of course trading, bitcoin is very useful and better than all internet payment method. Very like with bitcoin because easy, safe and profitable.
Than online internet payment processors bitcoin is really far better because with bitcoin we have access to the whole of the globe while these online payment processors were only for limited countries and the remaining countries were not able to do online businesses.

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April 10, 2017, 08:33:38 PM
 #647

I use to buy a voucher, pay bills online, buy a phone and of course trading, bitcoin is very useful and better than all internet payment method. Very like with bitcoin because easy, safe and profitable.
yeah bitcoin is using for bill and we can also buy mobile phone with bitcoin and bitcoin is really using in our daily life and bitcoin is now acceptable in local shop for direct shopping.

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April 10, 2017, 11:50:49 PM
 #648

I don"t thing using bitcoin for our daily use is easy. Because it is not legal in many countries. We can not buy things from small shops with bitcoin. In present situation if we want to use bitcoin we have to change it to dollar or any other currency.
but still in some area it is use as for daily use. as we can see that in Brazil there are dozens of shops who are accepting bitcoin for shopping. they also use bitcoin for paying bill and for so many other thigs..



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April 11, 2017, 07:21:44 AM
 #649

Using bitcoin as a mode of payment in a daily basis is no doubt to be a good thing. However, to make bitcoin as perfect as fiat in paying goods and services, bitcoin needs to improve more. Bitcoin transactions must be as fast as swiping a card like credit cards. Waiting for transaction confirmation may take time (I personally do not know how long it may take) and this is impractical as a method of payment for a daily basis. Bitcoin should become more instant like fiat, especially in face to face transactions.
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April 11, 2017, 07:46:18 AM
 #650

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?
yes you will waiting it , because each transaction of bitcoin need to approve .. maybe this is person considerations to use bitcoin for daily life because people can not wait.. so now just little people use of bitcoin maybe this is a reason

I don't think he have to wait until the transaction is confirmed as once the merchant sees incoming transaction in his wallet then its done and no need to wait for 3 confirmations and even if there is delay in confirmation people are still willing in using bitcoins so that is not at all an issue for users of bitcoins

I'm sorry to tell you but this simply doesn't work

A few years ago some Bitcoin casinos allowed to gamble with coins not yet confirmed (i.e. with 0 confirmations). For example, PrimeDice was known to credit to your account coins with unconfirmed transactions. It all ended when someone sent a decent amount of bitcoins there, lost all of them, and then made a successful attempt at double spend leaving the casino with no profit. There is no reason to trust some random dude on the net, and many merchants accept payments only from Coinbase wallets to their Coinbase wallets since these off-chain transactions are close to being ping-time instant

I agree that accepting 0 confirmations and allowing to gamble with the coins is a suicide for online casinos, especially for dice sites. But I think regular merchants in small shops, especially when dealing with people they know, can accept 0 confirmations. I've even heard they are doing so already in some places.

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April 11, 2017, 08:37:14 AM
 #651

In a real time situation it is impossible to use in each and every transactions using Bitcoin. Of course you can use Bitcoins for online transactions but for offline transactions it is impossible because simply you cant trust someone with your money.
I feel it would be better if there is a company like Visa or Mastercard where users should store their Bitcoin and they take responsibility of paying the shopkeeper. Exchange sites should think about it.

N



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April 11, 2017, 09:04:24 AM
 #652

I don"t thing using bitcoin for our daily use is easy. Because it is not legal in many countries. We can not buy things from small shops with bitcoin. In present situation if we want to use bitcoin we have to change it to dollar or any other currency.

Even here, I did not yet use bitcoin directly to buy things I want to especially physical transactions,yet my process on using bitcoin is if I buy thing i want I will use bitcoin and send it to the other party but he will receive it in fiat form. Thats how I use it.  and thats how it is being used currently in most parts of the world.
I think soon things will change and we shall have the option of using bitcoin directly without converting to fiat first.


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April 11, 2017, 09:10:04 AM
 #653

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?
yes you will waiting it , because each transaction of bitcoin need to approve .. maybe this is person considerations to use bitcoin for daily life because people can not wait.. so now just little people use of bitcoin maybe this is a reason

I don't think he have to wait until the transaction is confirmed as once the merchant sees incoming transaction in his wallet then its done and no need to wait for 3 confirmations and even if there is delay in confirmation people are still willing in using bitcoins so that is not at all an issue for users of bitcoins

I'm sorry to tell you but this simply doesn't work

A few years ago some Bitcoin casinos allowed to gamble with coins not yet confirmed (i.e. with 0 confirmations). For example, PrimeDice was known to credit to your account coins with unconfirmed transactions. It all ended when someone sent a decent amount of bitcoins there, lost all of them, and then made a successful attempt at double spend leaving the casino with no profit. There is no reason to trust some random dude on the net, and many merchants accept payments only from Coinbase wallets to their Coinbase wallets since these off-chain transactions are close to being ping-time instant

I agree that accepting 0 confirmations and allowing to gamble with the coins is a suicide for online casinos, especially for dice sites. But I think regular merchants in small shops, especially when dealing with people they know, can accept 0 confirmations. I've even heard they are doing so already in some places.
Now to there are gambling websites that provide the access to gambling before confirmation. Only the settlement takes place after the amount is confirmed. Now I don't think such a double spending is not possible and get back the amount even if it's not confirmed.

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April 11, 2017, 09:19:01 AM
 #654

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?
yes you will waiting it , because each transaction of bitcoin need to approve .. maybe this is person considerations to use bitcoin for daily life because people can not wait.. so now just little people use of bitcoin maybe this is a reason

I don't think he have to wait until the transaction is confirmed as once the merchant sees incoming transaction in his wallet then its done and no need to wait for 3 confirmations and even if there is delay in confirmation people are still willing in using bitcoins so that is not at all an issue for users of bitcoins

I'm sorry to tell you but this simply doesn't work

A few years ago some Bitcoin casinos allowed to gamble with coins not yet confirmed (i.e. with 0 confirmations). For example, PrimeDice was known to credit to your account coins with unconfirmed transactions. It all ended when someone sent a decent amount of bitcoins there, lost all of them, and then made a successful attempt at double spend leaving the casino with no profit. There is no reason to trust some random dude on the net, and many merchants accept payments only from Coinbase wallets to their Coinbase wallets since these off-chain transactions are close to being ping-time instant

I agree that accepting 0 confirmations and allowing to gamble with the coins is a suicide for online casinos, especially for dice sites. But I think regular merchants in small shops, especially when dealing with people they know, can accept 0 confirmations. I've even heard they are doing so already in some places.
Now to there are gambling websites that provide the access to gambling before confirmation. Only the settlement takes place after the amount is confirmed. Now I don't think such a double spending is not possible and get back the amount even if it's not confirmed

You seem to have missed the whole point of my post

And you may want to read it again. If you still miss it, then let my try to explain it to you again. You send a decent amount to a casino (dice site) which allows to play with your coins immediately (i.e. without waiting for confirmations), then you stake all and roll. If you win then you win, but if you lose, you immediately make another transaction (say, to your own wallet) which basically shadows the previous one. You set a higher fee to it, and if it gets confirmed faster than the previous transaction, you successfully performed a double spend. This is what happened in reality back then, and after this event casinos started to require at least one confirmation for incoming transactions

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April 11, 2017, 09:23:13 AM
 #655

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?
Bitcoin can definitely be used in daily life. You can even use a Bitcoin debit card if you really want.

The time to acknowledge transactions is something that we all know, so there is always a way to overcome such things, when we use bitcoin for everyday life, for sure. There will be a device capable of processing the deals immediately, I suppose the bitcoin payment cards are a good idea. If the bitcoin is really used in the life of your country, processing time is not a concern.



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April 11, 2017, 01:21:33 PM
 #656

For now, I am slowly saving my bitcoin because I heard a lot of good news about it and I guess it will help me to gain from my investment.
As I heard in the news about japan's big adoption, it will certainly make an impact in the market and that is very huge.

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April 11, 2017, 01:58:22 PM
 #657

For now, I am slowly saving my bitcoin because I heard a lot of good news about it and I guess it will help me to gain from my investment.
As I heard in the news about japan's big adoption, it will certainly make an impact in the market and that is very huge.
You're doing right, that is the best thing to do for this situation as the good news like the acceptance of Japan for bitcoin. Saving is always a must not only in good situations and bad situations because this will help us to expand our capability to earn more money just like now, if you save a lot of bitcoins before then after a few weeks when the impact is already reflected in the market, for sure you already earn more than a thousand of dollars.

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April 11, 2017, 03:13:29 PM
 #658

I don"t thing using bitcoin for our daily use is easy. Because it is not legal in many countries. We can not buy things from small shops with bitcoin. In present situation if we want to use bitcoin we have to change it to dollar or any other currency.
Yes for now we can't usr bitcoin in our daily life but till now i haven't heard any country banning the coin. Even though china is exception but if you notice japan has adopted it so we will soon see more countries adopting it if not maybe impose a tax but not a ban



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April 12, 2017, 05:58:19 AM
 #659

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?
Bitcoin can definitely be used in daily life. You can even use a Bitcoin debit card if you really want.

The time to acknowledge transactions is something that we all know, so there is always a way to overcome such things, when we use bitcoin for everyday life, for sure. There will be a device capable of processing the deals immediately, I suppose the bitcoin payment cards are a good idea. If the bitcoin is really used in the life of your country, processing time is not a concern

Bitcoin payment cards are a crutch

Personally, I have nothing against them, though I don't use them myself and some folks may oppose them as sort of Bitcoin centralization. They are a crutch because Bitcoin payments can and should be made instant on their own without involving centralized entities like web wallets or whoever chooses to issue these cards. Other than that, spending bitcoins where you could easily spend "bad" money (i.e. fiat) is a big no-no for me. It's like paying with gold coin for buying just a box of matches

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April 12, 2017, 06:14:46 AM
 #660

I don"t thing using bitcoin for our daily use is easy. Because it is not legal in many countries. We can not buy things from small shops with bitcoin. In present situation if we want to use bitcoin we have to change it to dollar or any other currency.
Yes for now we can't usr bitcoin in our daily life but till now i haven't heard any country banning the coin. Even though china is exception but if you notice japan has adopted it so we will soon see more countries adopting it if not maybe impose a tax but not a ban
if they can't stop the trend for sure they will do some action like imposing taxes instead of banning the system, japan is a well known established country if they already have integrated their system more well established country will follow especially those who's dealing with them.

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