Xester
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April 13, 2017, 01:40:54 PM |
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I used to buy a coffee from time to time with bitcoin. But I can't use bitcoin buying a coffee now, because the fee is so high, if I keep 0.0001 fee like before, it would take days for the transaction to get confirmed, I've got a transaction which took 11 days to get the 1st confirmation last month. It's not cost-effective any more to buy (I mean both online and buying face to face) thing via bitcoin. And this is why I quit buy coffee with bitcoin.
Well that is true given the current miner fees today it is likely that we will stick to fiat currency in buying anything such as coffee from local shops and merchants due to a very high fees which will make your purchase more costly. This is one of the problem that the community is facing right now and we hope that when a code is accepted in mining the fees should also go down.
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Antonio G.
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April 13, 2017, 02:58:01 PM |
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I used to buy a coffee from time to time with bitcoin. But I can't use bitcoin buying a coffee now, because the fee is so high, if I keep 0.0001 fee like before, it would take days for the transaction to get confirmed, I've got a transaction which took 11 days to get the 1st confirmation last month. It's not cost-effective any more to buy (I mean both online and buying face to face) thing via bitcoin. And this is why I quit buy coffee with bitcoin.
Well that is true given the current miner fees today it is likely that we will stick to fiat currency in buying anything such as coffee from local shops and merchants due to a very high fees which will make your purchase more costly. This is one of the problem that the community is facing right now and we hope that when a code is accepted in mining the fees should also go down. Yeah, Bitcoins become useless for small payments if you don't want to pay a lot for the transaction. And looks like transaction fee will grow in the future.. ![Embarrassed](https://bitcointalk.org/Smileys/default/embarrassed.gif)
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btcbug
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April 13, 2017, 03:07:48 PM |
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The point is that other coins like doge or litecoin is much less popular than bitcoin. The coffee shop does not accept doge and litecoin.
And when the coffee shop sees that nobody is paying in BTC anymore, they'll figure out that it's not practical. Additionally when speaking to their customers about it and hearing their desires to pay with crypto currencies, they'll investigate other solutions. LTC with LN perhaps? ETH? DASH? Consequently those coins proving to be filling the demand will gain in value. See how that works?
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thejaytiesto
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April 13, 2017, 03:46:50 PM |
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The point is that other coins like doge or litecoin is much less popular than bitcoin. The coffee shop does not accept doge and litecoin.
And when the coffee shop sees that nobody is paying in BTC anymore, they'll figure out that it's not practical. Additionally when speaking to their customers about it and hearing their desires to pay with crypto currencies, they'll investigate other solutions. LTC with LN perhaps? ETH? DASH? Consequently those coins proving to be filling the demand will gain in value. See how that works? Is yet to be seen if LTC can activate segwit. I guess it's a good idea to hold some just in case, but you never know what's inside the mind of a chinese mining whale. We may see it in LTC eventually. We have people like Wang claiming segwit "is a disaster" yet he supports it in LTC. You can't make this shit up.
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PokerFace3
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April 14, 2017, 04:11:37 PM |
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I used to buy a coffee from time to time with bitcoin. But I can't use bitcoin buying a coffee now, because the fee is so high, if I keep 0.0001 fee like before, it would take days for the transaction to get confirmed, I've got a transaction which took 11 days to get the 1st confirmation last month. It's not cost-effective any more to buy (I mean both online and buying face to face) thing via bitcoin. And this is why I quit buy coffee with bitcoin.
Well maybe you need to raise the fee. That’s the point of the fee. The higher it is the less long it takes to complete the transaction and get the confirmations. But, buying coffee with Bitcoin isn’t really practical anyway. Unless you make a living with Bitcoin just buy your beverage with your local fiat currency. People are always romanticizing about buying everything in bitcoin but it is actually more convenient for you to just use your government backed currency.
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robelneo
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Payment Gateway Allows Recurring Payments
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April 14, 2017, 04:22:48 PM |
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as someone who has never seen a real shop accept bitcoin can you take a photo in the coffee shop that is accepting bitcoin and share it with us?
I like coffee and my dream is to buy coffee using my bitcoin,but it will take years here to realize that,yeah posting that coffee shop photo is a big boost to all of us here I think you are located in the us or in the uk I read that you can buy coffee in Japan using Bitcoin.
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aTriz
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April 14, 2017, 04:44:42 PM |
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Oh c'mon dude! Just because of the transaction fees you cannot buy coffee? Even there is an increase in the transaction fees they are still low and will only cost you a few penny. Why blame the transaction fees? It is there to help the wallet provider to survive.
In my opinion, they blame the fees because of a very simple reason- they sent transactions usually, with small amounts of bitcoins in them, so it is very harmful. When you own 1 bitcoin, and you make 0.02 or even 0.01 transactions, this 30-50k satoshi fee doesnt hurts you like that, an experienced bitcoin user knows many way to decrease the fee, or to regain the money spend on it somehow, without big effort. I cannot grasp why would anyone think that the bitcoin has been made to pay for the coffee? Blockchain is a great technology and bitcoin is also revolutionary, and paying for coffee with it seems like a stupid idea for me, you better pay with BTC for some electronical devices, or anything more expensive than 5$ lol.
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posternat
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April 15, 2017, 04:21:24 AM |
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You quit to buy coffee only, but i quit everything to buying with bitcoin. Because when bitcoin was under $500, than sometime i use it for shopping but now bitcoin has a heavy price. So i am prefer to save than use the bitcoin.
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bluefirecorp
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April 15, 2017, 06:28:46 AM |
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Oh c'mon dude! Just because of the transaction fees you cannot buy coffee? Even there is an increase in the transaction fees they are still low and will only cost you a few penny. Why blame the transaction fees? It is there to help the wallet provider to survive.
In my opinion, they blame the fees because of a very simple reason- they sent transactions usually, with small amounts of bitcoins in them, so it is very harmful. When you own 1 bitcoin, and you make 0.02 or even 0.01 transactions, this 30-50k satoshi fee doesnt hurts you like that, an experienced bitcoin user knows many way to decrease the fee, or to regain the money spend on it somehow, without big effort. I cannot grasp why would anyone think that the bitcoin has been made to pay for the coffee? Blockchain is a great technology and bitcoin is also revolutionary, and paying for coffee with it seems like a stupid idea for me, you better pay with BTC for some electronical devices, or anything more expensive than 5$ lol. Since its release the bitcoin has been aiming to become a revolutionary way of payment a way to replace spending money on the internet with having more sense of security and to avoid banking fees or credit cards usage. But that idea kept fading away as bitcoin kept to grow constantly and people started realizing the fact that utilizing bitcoin as a profitable investment due to its price constantly growing is better than getting it and then spending it like regular money, so they started treating it like gold, and that what makes it hard to people spending it and business owners accepting as a payment method.
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mmo_online_1981
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April 15, 2017, 07:09:46 AM |
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At the present time, buying BTC coffee seems to be too expensive because the transaction fee is too large I thinks so`1
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taxmanmt5
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April 17, 2017, 06:32:40 AM |
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I used to buy a coffee from time to time with bitcoin. But I can't use bitcoin buying a coffee now, because the fee is so high, if I keep 0.0001 fee like before, it would take days for the transaction to get confirmed, I've got a transaction which took 11 days to get the 1st confirmation last month. It's not cost-effective any more to buy (I mean both online and buying face to face) thing via bitcoin. And this is why I quit buy coffee with bitcoin.
Well that is true given the current miner fees today it is likely that we will stick to fiat currency in buying anything such as coffee from local shops and merchants due to a very high fees which will make your purchase more costly. This is one of the problem that the community is facing right now and we hope that when a code is accepted in mining the fees should also go down. Yeah, Bitcoins become useless for small payments if you don't want to pay a lot for the transaction. And looks like transaction fee will grow in the future.. ![Embarrassed](https://bitcointalk.org/Smileys/default/embarrassed.gif) That would be so sad if that case will going to happen, things will be really different as the timr goes by, we do not know how things work in the future if the transaction fee wi going to affect the consumption of bitcoin.
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Mr.grin
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April 17, 2017, 06:39:45 AM |
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Well, in my country, you can buy a lot of coffee with bitcoin right now. Even you can build your own coffee shop. Here, bitcoin is so valuable, and has a high value when converted into fiat form. But, most people are not yet aware to immediately look for bitcoin, because it lacks interest with it.
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Hazir
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April 17, 2017, 06:54:03 AM |
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At this point it is clear that we will never be able to purchase a coffee with on-chain transaction. Whenever we like it or not a second layer network will be developed in the future to prevent overload of the network. Bitcoin will be used and cornerstone for larger system - but until this happen the idea of buying your coffee with BTC is dead.
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posternat
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April 17, 2017, 08:17:39 AM |
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At the present time, buying BTC coffee seems to be too expensive because the transaction fee is too large I thinks so`1
Yes, it is because of the rise of its value, it is like buying expensive coffee then. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) To OP, I guess you better convert your bitcoin into fiat and make some transaction using your fiat money so the it will not be that expensive in your part.
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nightxglow
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April 17, 2017, 08:39:44 AM |
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I don't use bitcoin as a digital currency anymore because as you said, the fees is getting too high, sometimes more than paypal if the transcation amount is not much. And did you have to wait for confirmation until they give you the coffee? or did they accept zero confirmation?
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DoublerHunter
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April 17, 2017, 08:50:24 AM |
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I don't use bitcoin as a digital currency anymore because as you said, the fees is getting too high, sometimes more than paypal if the transcation amount is not much. And did you have to wait for confirmation until they give you the coffee? or did they accept zero confirmation?
The coffee shop here near from my house accepts bitcoin as a payment also in buying a coffee and they did accept bitcoin even it doesn't have a confirmation yet as long as they see that they are already receiving the bitcoin then they already confirmed it and you can enjoy your coffee without worrying about the confirmation.
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sportis
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April 18, 2017, 02:20:32 PM |
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Bitcoin is created as p2p payment system but anyone knows that is not appropriate for microtransactions. Unfortunately as time passes network fees will be raised because the block reward will be decreased after any halving. So people have get to use different payment mediums for anything they want to buy. Cash or a credit card would be a better way to buy a cup of coffee than bitcoins. Therefore there is none to wonder how to buy from coffee shop with his paypal account.
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webtricks
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April 18, 2017, 02:39:56 PM |
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Considering the problem of raising fees, I guess time has come when an Altcoin pops up and takes a position of Junior. In my opinion Dogecoin is best alternative. People should start using Dogecoins for micro-payment while macro-payments could still be in hands of Bitcoin. It is the most effective mean at present and can save fees by 2000% !!
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Kotone
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April 18, 2017, 02:44:25 PM |
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I think they don't want to accept bitcoin anymore this means starbucks will no longer accept bitcoin as payment method hope that all starbucks on all over the country will implement this one for us to easy to pay with bitcoins.
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soros017
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April 18, 2017, 02:47:48 PM |
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You must be one of the few people who does this. Where I live, for example, there are not many possibilities for doing this. If you are having such problems, I suggest you use your credit card, until things get right on Bitcoin side. Or you can opt for a Bitcoin debit card, but the fees will make things more difficult.
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