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Author Topic: Daily use of bitcoin?  (Read 41835 times)
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April 14, 2017, 11:13:04 PM
 #701

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?


And in comes lightning network to the rescue...

What Lightning Network are you pertaining about ?  Huh

Well, yeah we can't admit that the confirmation in Bitcoin takes too long. But, once we send transactions, all we need is the TX ID. As long as TxID appears. Means that the transactions are in the Blockchain already so I think it can be used in our daily lives. In fact I watched a news in the TV that there is a cafe I think that accepts Bitcoin as a payment. And he is not having trouble using it so for me its okay to use Bitcoin as mode of payment in the commodities that we should pay in our daily living.

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April 15, 2017, 08:19:19 AM
 #702

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 may not make sense for short purchases. But I think it would be more suitable for long term shopping.
For example, we can make payments for a product that we receive as installment with bitcoin. In fact, we can use bitcoin in the payment of products like coffee. When we enter an appropriate fee value, our transactions are confirmed within 10 minutes.
With the bitcoin transaction getting slower I see the idea of using bitcoin on daily basis is kind of hard, because think of it going to buy coffee like you said and you send the shop keeper the bits and then what you sit like for 20 minutes 30 or 40, bitcoin is still not in that kind of state I think and it seems that the best option for us is just to earn bitcoin and then just exchanges it to fiat when the prices are high and buy stuff with it.

It may not be convenient to pay with bitcoin in places like Starbucks. In such places, payment must be made very quickly and payment must be approved.
But it is possible to pay for evening meal with bitcoin. At the same time we can pay to order the food.
When I enter the appropriate fee values, my transactions are approved within 15-20 minutes.
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April 15, 2017, 08:37:10 AM
 #703


it is time for thinking about bitcoin payment transactions that must be changed if the name can confirm that the transaction must be discarded, because I think for this kind of business will not be able to implement this system, the least amount of time for a long confirmation. it is less effective at

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April 15, 2017, 11:35:40 AM
 #704


it is time for thinking about bitcoin payment transactions that must be changed if the name can confirm that the transaction must be discarded, because I think for this kind of business will not be able to implement this system, the least amount of time for a long confirmation. it is less effective at

Once you made a payment with bitcoin and when it appears to the blockchain then it is already considered as a confirmed payment. The confirmation for bitcoin is not a problem when doing transactions and doing payments for business because you can all find it on blockchain where all the transactions are stored in the cloud network.

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April 15, 2017, 12:16:21 PM
 #705

My everyday of using bitcoin is based in my investment. I use  to  do my trade with bitcoin everyday.
More over i am into other transaction with bitcoin everyday..sometimes i do my soccer betting with bitcoin.
So i am making use of bitcoin everyday.

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April 15, 2017, 01:14:45 PM
 #706

It would be very convenient to have the opportunity every day in any place to be counted by the bitcoins. In our country there is no such opportunity, only through the Internet it is possible to make purchases.
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April 15, 2017, 05:35:01 PM
 #707

It would be very convenient to have the opportunity every day in any place to be counted by the bitcoins. In our country there is no such opportunity, only through the Internet it is possible to make purchases.
The same happens in my country there are no stores that accept payments in bitcoin and even in stores where you could expect to find more modern and informed people like in stores that sell hardware for computers we are unable to pay with bitcoin and people have not even heard about bitcoin at all.

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April 15, 2017, 06:45:14 PM
 #708

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?


And in comes lightning network to the rescue...

What Lightning Network are you pertaining about ?  Huh

Well, yeah we can't admit that the confirmation in Bitcoin takes too long. But, once we send transactions, all we need is the TX ID. As long as TxID appears. Means that the transactions are in the Blockchain already so I think it can be used in our daily lives. In fact I watched a news in the TV that there is a cafe I think that accepts Bitcoin as a payment. And he is not having trouble using it so for me its okay to use Bitcoin as mode of payment in the commodities that we should pay in our daily living

Obviously, this is nowhere near the case

Just seeing the transaction on the network is not enough. It can be rejected due to various reasons (the most common one is low or no fees), it can be cancelled or overridden by another transaction with higher fees (so-called double-spend). In this manner, you need at least one confirmation to make sure that reversing this transaction will be prohibitively expensive for whoever might be interested in that. But confirming transaction takes time, and even if it takes a few minutes, this is still too much for most practical purposes involving daily expenses

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April 15, 2017, 07:41:03 PM
 #709

It would be very convenient to have the opportunity every day in any place to be counted by the bitcoins. In our country there is no such opportunity, only through the Internet it is possible to make purchases.
The same happens in my country there are no stores that accept payments in bitcoin and even in stores where you could expect to find more modern and informed people like in stores that sell hardware for computers we are unable to pay with bitcoin and people have not even heard about bitcoin at all.

If you are not able to shop with bitcoin in your country, you can do something.
You can shop with your bitcoin at your friends workplace. You can offer people to make payments with bitcoin.
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April 15, 2017, 08:12:19 PM
 #710

It would be very convenient to have the opportunity every day in any place to be counted by the bitcoins. In our country there is no such opportunity, only through the Internet it is possible to make purchases.
The same happens in my country there are no stores that accept payments in bitcoin and even in stores where you could expect to find more modern and informed people like in stores that sell hardware for computers we are unable to pay with bitcoin and people have not even heard about bitcoin at all.

If you are not able to shop with bitcoin in your country, you can do something.
You can shop with your bitcoin at your friends workplace. You can offer people to make payments with bitcoin.
Good idea but do you think your friends will accept bitcoin?
I think many alternative that you can use bitcoin you can use bitcoin online payments buying services or digital goods online can be use bitcoin as payment look at few site out there like namecheap they are accepting bitcoin as payment and steam they are accepting bitcoin as payment..
Look other country like brazil and paris they have also store are accepting bitcoin as payment locally but i think it will happen too in other country..

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April 15, 2017, 08:36:18 PM
 #711

It would be very convenient to have the opportunity every day in any place to be counted by the bitcoins. In our country there is no such opportunity, only through the Internet it is possible to make purchases.
The same happens in my country there are no stores that accept payments in bitcoin and even in stores where you could expect to find more modern and informed people like in stores that sell hardware for computers we are unable to pay with bitcoin and people have not even heard about bitcoin at all.

If you are not able to shop with bitcoin in your country, you can do something.
You can shop with your bitcoin at your friends workplace. You can offer people to make payments with bitcoin.

How can you actually do that?
You move to your friends country to do bitcoin shopping?

How can you offer people to make payments in bitcoin when you're not selling anything?
Really , what is with those suggestions?



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April 15, 2017, 08:43:28 PM
 #712

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?
Definitely,its becoming a great issue nowadays which would make new companies to drop bitcoin adoption.It has to be solved and the other issue of high transaction fees too has to be solved as bitcoin users will not find it economical to buy small goods with bitcoin otherwise.
In both that cases you have to accept one of them like if you want faster transaction then you will need to pay a little high fees so the transaction will complete in a few minutes and if you will pay a lower fees for transaction then it will take some longer time to confirm.

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April 15, 2017, 08:51:51 PM
 #713

Approval will affect our transactions if the person that we are dealing with needs that amount very bad.

But I don't think that will affect the daily usage of bitcoin because for me, it's already a normal thing and besides there is a tool that we can use for accelerating our transaction.

Though it's a common problem but once you see the transaction was already recorded and you can trace it on the network, I guess that would be fine.

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April 15, 2017, 10:28:13 PM
 #714

Mostly i use bitcoin when i need money to withdraw i send to my digital wallet called webmoney and after that transfer to my bank. On my country right now, not too much services accepting bitcoin even if they are they take 30-40% more then a normal price. Still we don't find a way to confirm transactions faster, that's the biggest problem why we can't use it everwhere
yes in my are we also do not have the facility to use bitcoin directly for shopping, but we can easily convert our bitcoin into our local fiat currency and then can use it for fulfilling our needs.
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April 15, 2017, 10:49:56 PM
 #715

Mostly i use bitcoin when i need money to withdraw i send to my digital wallet called webmoney and after that transfer to my bank. On my country right now, not too much services accepting bitcoin even if they are they take 30-40% more then a normal price. Still we don't find a way to confirm transactions faster, that's the biggest problem why we can't use it everwhere
yes in my are we also do not have the facility to use bitcoin directly for shopping, but we can easily convert our bitcoin into our local fiat currency and then can use it for fulfilling our needs.

In the Philippines,  there are no Bitcoin ATMs to withdraw bitcoin unlike other country. But the good thing is, bitcoin are now acknowledged by the banks and now they are accepting bitcoin which is really great. Though there are still few stores that accept them, maybe because of the volatility of bitcoin or they just don't know it yet.Good thing there are wallet that we can convert our bitcoins easily and withdraw it on money pick ups or on bank.



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April 16, 2017, 06:09:33 AM
 #716

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?

Patience is a virtue my friend , we should be gratefull sometimes that we are earning bitcoins for free or we can earn it with our freetime without any difficulty. We should learn to be patient buddy.

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iqlimasyadiqa
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April 16, 2017, 06:35:56 AM
 #717

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?

Patience is a virtue my friend , we should be gratefull sometimes that we are earning bitcoins for free or we can earn it with our freetime without any difficulty. We should learn to be patient buddy.
very difficult to get bitcoin. should we be grateful when getting a chance to get a free bitcoin. and with it we can use bitcoin to meet day-to-day life.

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......Play......
Astvile
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April 16, 2017, 06:38:04 AM
 #718

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 have sent the bitcoins through the merchant or shops wallet then you can get your order as fast as you pay for it.Bitcoin transaction are not irevisable,you cannot refund any of your transactions so no need for the shop to wait for confirmations on block if you have sent the bitcoins

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DoublerHunter
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April 16, 2017, 06:51:21 AM
 #719

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 have sent the bitcoins through the merchant or shops wallet then you can get your order as fast as you pay for it.Bitcoin transaction are not irevisable,you cannot refund any of your transactions so no need for the shop to wait for confirmations on block if you have sent the bitcoins
I agree with you. That is why bitcoin is perfect for business because bitcoin cannot do chargeback like the paypal which can scam people who uses it. As soon as you do transaction with a store and they see the bitcoin in blockchain then you can tell to them that you already do a full payment because it will just take at least 30 minutes to get fully confirmation in the blockchain.

Michel de Montaigne
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April 16, 2017, 07:41:31 AM
 #720

I can order food from home with bitcoin. I can order pizzas, coffee, hamburgers, etc from home.
It may not be practical to pay with bitcoin directly in Starbucks. Or it may not be practical to pay for fast food products with bitcoin.
But we can order these products online.
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