Bitcoin Forum
October 18, 2017, 12:35:52 AM *
News: Latest stable version of Bitcoin Core: 0.15.0.1  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Pages: « 1 [2]  All
  Print  
Author Topic: Bitcoin was always meant to be used to purchase a cup of coffee or a can of soft  (Read 620 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic.
Nathan047
Sr. Member
****
Offline Offline

Activity: 294


Enjin Coin - Smart Cryptocurrency for Gaming


View Profile
February 27, 2017, 06:26:16 PM
 #21

The biggest issue is currently the expensive and slow transactions. As @7788bitcoin pointed out, transactions are to long to wait for a small item (and unconfirmed transactions are not guaranteed), not to mention the fact that the fees for a somewhat fast transaction (like 10 minutes to an hour) could exceed the price of a small item being bought. Currently it's possible to fund a debit card with bitcoin or merchants could switch to an altcoin that supports faster transactions, but I feel this is an issue that needs to be dealt with before bitcoin can go mainstream.

Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1508286952
Hero Member
*
Offline Offline

Posts: 1508286952

View Profile Personal Message (Offline)

Ignore
1508286952
Reply with quote  #2

1508286952
Report to moderator
calkob
Hero Member
*****
Offline Offline

Activity: 686


View Profile
February 27, 2017, 06:32:31 PM
 #22

Afternoon, All.

Just a friendly reminder:

Bitcoin was always meant to be used to purchase a cup of coffee or a can of soft drink or a candy bar:

Quote
It might make sense just to get some in case it catches on.  If
enough people think the same way, that becomes a self fulfilling
prophecy.  Once it gets bootstrapped, there are so many
applications if you could effortlessly pay a few cents to a
website as easily as dropping coins in a vending machine.

metzdowd.com source:  http://www.metzdowd.com/pipermail/cryptography/2009-January/015014.html

Cheers,
Phil

I think you are right in what you are saying regards everyday transactions,  but i also think that we have to base or decision in the reality of the world around us.  currently it costs around £0.35  for me to make a transaction, would i want to buy a can of Pepsi from a vending machine that was adding a fee like that.  The clear answer is NO. 

Yes it would be great if it were so but it just isnt.  however if i had £20,000 in Gold and i had to pay £0.35 to send it across the world or even move it within my own boarder then i would be delighted.  its about perspective.
vnvizow
Sr. Member
****
Offline Offline

Activity: 266



View Profile
February 28, 2017, 03:33:14 AM
 #23

Afternoon, All.

Just a friendly reminder:

Bitcoin was always meant to be used to purchase a cup of coffee or a can of soft drink or a candy bar:

Quote
It might make sense just to get some in case it catches on.  If
enough people think the same way, that becomes a self fulfilling
prophecy.  Once it gets bootstrapped, there are so many
applications if you could effortlessly pay a few cents to a
website as easily as dropping coins in a vending machine.

metzdowd.com source:  http://www.metzdowd.com/pipermail/cryptography/2009-January/015014.html

Cheers,
Phil

If the transaction fees stay high and the core team still won't do anything about it, this'll soon be fiction again (exaggeration but still...)

Yes, but remember there are always alts that can do the small transaction stuff. It is possible that Bitcoin is MySpace and it will take an alt like Steem or Ether to become Facebook.

Considering the price of 1 btc to be $1193 as I'm writing this it's unlikely for an alt to overtake bitcoin as of now. It's too big to fail right now unless the core team messed up tremendously
Kakmakr
Legendary
*
Offline Offline

Activity: 1078

★ ChipMixer | Bitcoin mixing service ★


View Profile
February 28, 2017, 06:08:09 AM
 #24

Afternoon, All.

Just a friendly reminder:

Bitcoin was always meant to be used to purchase a cup of coffee or a can of soft drink or a candy bar:

Quote
It might make sense just to get some in case it catches on.  If
enough people think the same way, that becomes a self fulfilling
prophecy.  Once it gets bootstrapped, there are so many
applications if you could effortlessly pay a few cents to a
website as easily as dropping coins in a vending machine.

metzdowd.com source:  http://www.metzdowd.com/pipermail/cryptography/2009-January/015014.html

Cheers,
Phil

If the transaction fees stay high and the core team still won't do anything about it, this'll soon be fiction again (exaggeration but still...)

Yes, but remember there are always alts that can do the small transaction stuff. It is possible that Bitcoin is MySpace and it will take an alt like Steem or Ether to become Facebook.

Considering the price of 1 btc to be $1193 as I'm writing this it's unlikely for an alt to overtake bitcoin as of now. It's too big to fail right now unless the core team messed up tremendously

Do not get to complacent about this. Bitcoin can be replaced by anything else, if it gets the backing of governments. We have banks and financial institutions working hard on developing "Blockchain" based technologies to replace Bitcoin and we know they already have the governments backing.

This smug attitude from people that Bitcoin cannot be "Trumped" will be their downfall in the future.

Bellator
Sr. Member
****
Offline Offline

Activity: 420


Enjin Coin - Smart Cryptocurrency for Gaming.


View Profile
February 28, 2017, 07:39:07 AM
 #25

Afternoon, All.

Just a friendly reminder:

Bitcoin was always meant to be used to purchase a cup of coffee or a can of soft drink or a candy bar:

Quote
It might make sense just to get some in case it catches on.  If
enough people think the same way, that becomes a self fulfilling
prophecy.  Once it gets bootstrapped, there are so many
applications if you could effortlessly pay a few cents to a
website as easily as dropping coins in a vending machine.

metzdowd.com source:  http://www.metzdowd.com/pipermail/cryptography/2009-January/015014.html

Cheers,
Phil

Bitcoin is not for Buying coffee, can of softdrink or a candy. This is not only the use of bitcoin. Bitcoin has many feature, it is not only for buying coffee, or something. This Bitcoin have many use like earning, transacting anonymously, Using this coin to transact to any countries and many more. If you use bitcoin as buying coffee, why you need to use bitcoin? You can use your fiat money to buy it easily.

Pages: « 1 [2]  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!