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Author Topic: It's still really hard to use bitcoin as a regular currency  (Read 3996 times)
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June 20, 2017, 11:43:34 PM
 #101

Bitcoin fees have become too big now for day to day smaller transactions. I paid over ten dollars for a five hundred dollar value transaction and it took also twnety four hours plus to get through to the other side. So Bitcoin is only best used for bigger transactions in my view that is.
If you are talking about the transaction fee of bitcoin then thats a good idea to used high fees. Why? because the higher its fee the faster you can get what you buy. Bitcoin fees is one of the main problem of many users now a day and I think that is the reason why its hard for them to used it.



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June 20, 2017, 11:45:54 PM
 #102

yes bitcoinis still not fully develop as a currency today so you cant really use it as a currency today you buy in a store using a bitcoin but there are some store accepting bitcoin because it is a part of the processed so maybe in the future it will be.
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June 20, 2017, 11:57:53 PM
 #103

Because bitcoin is cannot be use today in buying things in the store so obviously you can really use it as a currency today but i guess it will be in the future because of it is a technology and it will be the future of thethe currency because of the perk it gives.
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June 21, 2017, 12:06:57 AM
 #104

Because bitcoin is cannot be use today in buying things in the store so obviously you can really use it as a currency today but i guess it will be in the future because of it is a technology and it will be the future of thethe currency because of the perk it gives.

Chances were big enough to continue to save for future usage of btc, for now it may be too hard to bought things using it. Japan were already implemented btc as payment so they might anle to development machines or application accepting btc in buyinh in stores.

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June 21, 2017, 12:10:38 AM
 #105

Because bitcoin is cannot be use today in buying things in the store so obviously you can really use it as a currency today but i guess it will be in the future because of it is a technology and it will be the future of thethe currency because of the perk it gives.

Chances were big enough to continue to save for future usage of btc, for now it may be too hard to bought things using it. Japan were already implemented btc as payment so they might anle to development machines or application accepting btc in buyinh in stores.
Thats the real deal buddy if japan make it more easy for sure many develop countries will follow and adopt the system and it will be a big impact since digital world already exist and digital currency will be the next to followed.

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June 21, 2017, 02:52:53 AM
 #106

There has to be a system that can accommodate bitcoin as mode of payment and transaction. If not, it will be really hard to implement it as a regular currency. Since bitcoin is nonvolatile. And bitcoin has to be accepted first in a country in order it to be considered as a regular currency.

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June 21, 2017, 02:56:23 AM
 #107

Bitcoin fees have become too big now for day to day smaller transactions. I paid over ten dollars for a five hundred dollar value transaction and it took also twnety four hours plus to get through to the other side. So Bitcoin is only best used for bigger transactions in my view that is.
I too remember a day when i had to pay my friend urgently.I sent bitcoin from my wallet hoping that it would be confirmed within one hour.But i forgot to change my transaction fee in the wallet manually.It took around two weeks for me to receive that bitcoins in my localbitcoins account.It was a terrible experience.
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June 21, 2017, 10:28:33 AM
 #108

I think it is not hard to use bitcoin as a regular currency. Because bitcoin is an electronic money and i know that someday it will be known and will be use by many. And bitcoin has no difference with the atm that we have today. Bitcoin is helpful and bitcoin is safe so it can be a regular money currency.

I think you haven't research enough about BTC. It has already been known world wide and it has been used by many people.

BTC has a big difference in ATMs. As you have said BTC is a cryptocurrency, and ATM is an access key to what you have saved Fiat money in you banks.
BTC has so much difference in ATM.
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June 21, 2017, 12:43:18 PM
 #109

Yes, still now it’s hard to use bitcoin as a regular currency, others prefer to use traditional currency than bitcoin. Only few people know how to use bitcoin as transaction. But with all of good feedback about bitcoin as transaction and as currency, it’s very near that it will use as a regular currency even its fees goes high and transaction is low. There are stores that already accept bitcoin and it will easy for the others to follow it and maybe it will increase their income as well.

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June 21, 2017, 01:00:36 PM
 #110

I think so.

It is because a big portion of the world of commerce is still lagging behind, meaning it is not yet digitalized. In my country, for example, many people involved in selling various products, are still into the traditional business mode which sees an actual exchange of hard money and product. While there are already transactions without involving any money at all such as through credit and debit cards, when one goes to the market, takes a cab, buy goods from stores, everything needs fiat currency.

Bitcoin, as an online money, will not exist in such a way of doing commerce. It cannot replace the role of our current fiat money, at least for now.
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June 21, 2017, 01:04:44 PM
 #111

This currency is not yet developed enough to use it as a regular currency
I think it will be possible in a few years
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June 21, 2017, 01:08:45 PM
 #112

Because bitcoin is cannot be use today in buying things in the store so obviously you can really use it as a currency today but i guess it will be in the future because of it is a technology and it will be the future of thethe currency because of the perk it gives.

Chances were big enough to continue to save for future usage of btc, for now it may be too hard to bought things using it. Japan were already implemented btc as payment so they might anle to development machines or application accepting btc in buyinh in stores.
Thats the real deal buddy if japan make it more easy for sure many develop countries will follow and adopt the system and it will be a big impact since digital world already exist and digital currency will be the next to followed.
That might be true. More Countries might adopt bitcoin and use it to make everything in a digital manner. But in reality every country thinking same as Japan is not gonna happen. Japan is something who is much focused on development and technology growth. So till the direct acceptance increases its really hard to use bitcoin as regular currency.
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June 21, 2017, 01:13:43 PM
 #113

Bitcoin fees have become too big now for day to day smaller transactions. I paid over ten dollars for a five hundred dollar value transaction and it took also twnety four hours plus to get through to the other side. So Bitcoin is only best used for bigger transactions in my view that is.
I too remember a day when i had to pay my friend urgently.I sent bitcoin from my wallet hoping that it would be confirmed within one hour.But i forgot to change my transaction fee in the wallet manually.It took around two weeks for me to receive that bitcoins in my localbitcoins account.It was a terrible experience.

If i am not wrong their is a free acceleration service done by viaBtc , you could have used their service if not if you have asked help from the community you could have done it very soon.
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June 21, 2017, 01:49:42 PM
 #114

This currency is not yet developed enough to use it as a regular currency
I think it will be possible in a few years
Agreed...
Bitcoin still needs to be developed huge, it should be earned more trust and credibility. Not only that but also Bitcoin has to become​ more available  around the whole world. When it can be reached at everywhere then more people can use it...
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June 21, 2017, 04:25:54 PM
 #115

Yes, it is very difficult to use Bitcoin as a regular currency. For one, it can not be used online. Then transactions in Bitcoin charge very high feed so it can not be used for small transactions. Then the confirmation time of those transactions is very long so quick transactions will not be possible.
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June 21, 2017, 10:02:43 PM
 #116

Bitcoin fees have become too big now for day to day smaller transactions. I paid over ten dollars for a five hundred dollar value transaction and it took also twnety four hours plus to get through to the other side. So Bitcoin is only best used for bigger transactions in my view that is.
I too remember a day when i had to pay my friend urgently.I sent bitcoin from my wallet hoping that it would be confirmed within one hour.But i forgot to change my transaction fee in the wallet manually.It took around two weeks for me to receive that bitcoins in my localbitcoins account.It was a terrible experience.
It was a bad experience and I feel bad for you but at the end it was your fault, we must always check that all the details of the transaction we want to make to be in order if we do not want for things like these to happen to us in the future especially now that the price of the transactions  has gone up dramatically.

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June 22, 2017, 12:14:56 AM
 #117

Seeing the increase in transaction costs makes it harder to accept, perhaps for larger payouts using bitcoins,
But for the needs of daily cutting or small needs better do not use bitcoin because it takes a long time and will dikeaakan transaction costs.
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June 22, 2017, 12:25:56 AM
 #118

Seeing the increase in transaction costs makes it harder to accept, perhaps for larger payouts using bitcoins,
But for the needs of daily cutting or small needs better do not use bitcoin because it takes a long time and will dikeaakan transaction costs.

I think it is fair to have an increase in transaction cost because there are also price pumps that is happening in bitcoin's price. So to avoid getting high transaction fees, try to minimize your transaction into big bitcoin amount transaction. Also, try to follow the amount of fee to be used in every of your transactions unless you want to receive it a long time.
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June 22, 2017, 07:11:49 AM
 #119

Well YES. Why ? Because as today we cannot use bitcoin to buy thing in the market especially in our market. I can't use bitcoin to buy foods in our school canteen, I cannot use bitcoin to buy dress, shoes, cap, etc in the store in our town. Maybe I can use it online, but life does not only depend online. There are times I'm in a place where internet connection does not exist and without internet I can't earn, I can't have bitcoin. Maybe in some other country bitcoin as a regular currency is possible but in a place where I live "It's still really hard to use bitcoin as a regular currency".

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June 22, 2017, 07:16:40 AM
 #120

It seems like retailer adoption of bitcoin has kind of slowed down over the past year or so. Seemed like we had so much momentum when BitPay was really pushing things like the College Football Bitcoin Ball.

To be honest I thought more retailers would be accepting bitcoin by now. I think a lot of it has to do with there not being enough tax clarity.  Adoption has definitely sky rocketed in Japan which has helped prices a ton, but I haven't heard of a new  major US retailer accepting bitcoin in a bit.

Amazon.con would be a huge one if they started accepting bitcoin.
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