We can't buy something with Bitcoin quickly

[Lieldoryn]

It all depends on how much you are willing to spend per transaction. One of my wallets has an automatic exchange of the national currency and withdrawal of currency to a Bank card. It now happens instantly. Only the price in exchange for 200-300 dollars less than the real price for 1 BTC.

[stompix]

It all depends on how much you are willing to spend per transaction. One of my wallets has an automatic exchange of the national currency and withdrawal of currency to a Bank card. It now happens instantly. Only the price in exchange for 200-300 dollars less than the real price for 1 BTC.

Wait a minute , did you just said you're paying an extra 15% to withdraw your funds with the current exchange?
Why are you even doing it?
I might be able to understand if you go and deal in cash on localbitcoin or try an atm that doesn't require id but this?

[dimadimaivchenko]

they definitely need to work on that to make it comfortable for sellers and buyers

[jonosutio]

All will go through a process done first if you want to do something with bitcoin, for example by making a purchase using bitcoin.

[magneto]

It all depends on how much you are willing to spend per transaction. One of my wallets has an automatic exchange of the national currency and withdrawal of currency to a Bank card. It now happens instantly. Only the price in exchange for 200-300 dollars less than the real price for 1 BTC.

Wait a minute , did you just said you're paying an extra 15% to withdraw your funds with the current exchange?
Why are you even doing it?
I might be able to understand if you go and deal in cash on localbitcoin or try an atm that doesn't require id but this?

It's not even this. Obviously the guy is probably selling their coins a bit too cheap, but he can do whatever he wants. Plus, the discussion is more about miner's fees and transaction confirmation times, rather than exchange rate spreads on exchanges.

For exemple, I go to a coffee shop, I buy a coffee, then I pay with Bitcoin, we have to wait for a confirmation, no? or the merchant will just trust me if I show my wallet?
How can we be sure that it's not a double spent transaction or something else?

I would assume that most merchants willtrust you because they've got CCTV and all that, security measures irl are much more stringent than in the cyber world. Plus, Bitpay or other bitcoin payment processors will assess whether or not your transaction has enough fees to be confirmed in the first block. If your transaction is large obviously maybe they'll ask you to sit down and wait till confirmations arrive, and the same with low transaction fees.

Bitcoin is built for ecommerce imo so real world adaptability isn't that great atm.

[BitcoinBallerina]

I agree. Bitcoin is still in it's infancy. We have much to learn, and making transactions easy & seamless is just one aspect.

[Reid]

For exemple, I go to a coffee shop, I buy a coffee, then I pay with Bitcoin, we have to wait for a confirmation, no? or the merchant will just trust me if I show my wallet?
How can we be sure that it's not a double spent transaction or something else?

They wont need that if they really know bitcoin.
It is not like Paypal that you could take it back. Once a transaction is in process it is good to go.
If only I got that business I would offer a bitcoin payment.
And as long you paid the right price it is good to go.
I dont even need your information because nothing bad would happen.

[DoublerHunter]

they definitely need to work on that to make it comfortable for sellers and buyers

I believe that the team behind bitcoin is currently working on that solution and that is segwit which it will make the transactions faster and also it will make bitcoin much better because it will have a higher amount of block size that will make the network have a bigger space for the incoming more demand of the users which is really happening right now.

[jayc89]

I agree. Bitcoin is still in it's infancy. We have much to learn, and making transactions easy & seamless is just one aspect.

I am pretty sure that is why we have Altcoins. If Altcoins was not built then the progress for Bitcoin would’ve been faster though the price of Bitcoin would be much more expensive than it is right now. Altcoins also help with the building process for Bitcoin tech.

[YuginKadoya]

I agree. Bitcoin is still in it's infancy. We have much to learn, and making transactions easy & seamless is just one aspect.

I am pretty sure that is why we have Altcoins. If Altcoins was not built then the progress for Bitcoin would’ve been faster though the price of Bitcoin would be much more expensive than it is right now. Altcoins also help with the building process for Bitcoin tech.

Well I only wish the Segwit Proposal would be great for us all and bitcoin transaction would be just minimal and we can have an easier transaction even if the price split I think there would be many users that will be please to see that in the future.

And speaking with Altcoins I think they are in relation it is like a symbiosis kind of thing that if Altcoins would not exist there would never be a competitor that push bitcoin price to go up and not the other way around and many people are using it to trade and have much more profit than bitcoin alone!

[flower1024]

they definitely need to work on that to make it comfortable for sellers and buyers

I believe that the team behind bitcoin is currently working on that solution and that is segwit which it will make the transactions faster and also it will make bitcoin much better because it will have a higher amount of block size that will make the network have a bigger space for the incoming more demand of the users which is really happening right now.

Yes once this segwit happen after that I think we can use bitcoin to buy our daily needs because we are hoping after this segwit the transaction speed will become fast and I think the transaction fee also reduce. Once this transaction issue solved then slowly, people start to accept bitcoin in their business. Let's wait for just 1 month to see new improvement in bitcoin.

[andrei56]

You can use bitcoin to buy a wide variety of items directly for bitcoin, and everything indirectly through exchanges and buying Gift Cards and reward accounts from Gyft, Hence can actually buy everything from Walmart to Amazon indirectly.

The problematic being discussed in the thread is not about the range of goods you can get with bitcoin, which is very wide, it is the speed at which you can do so, while buying something in amazon does not require extreme speed, something as simple as buying a coffee with bitcoin is very slow.

[stompix]

It all depends on how much you are willing to spend per transaction. One of my wallets has an automatic exchange of the national currency and withdrawal of currency to a Bank card. It now happens instantly. Only the price in exchange for 200-300 dollars less than the real price for 1 BTC.

Wait a minute , did you just said you're paying an extra 15% to withdraw your funds with the current exchange?
Why are you even doing it?
I might be able to understand if you go and deal in cash on localbitcoin or try an atm that doesn't require id but this?

It's not even this. Obviously the guy is probably selling their coins a bit too cheap, but he can do whatever he wants. Plus, the discussion is more about miner's fees and transaction confirmation times, rather than exchange rate spreads on exchanges.

For exemple, I go to a coffee shop, I buy a coffee, then I pay with Bitcoin, we have to wait for a confirmation, no? or the merchant will just trust me if I show my wallet?
How can we be sure that it's not a double spent transaction or something else?

I would assume that most merchants willtrust you because they've got CCTV and all that, security measures irl are much more stringent than in the cyber world. Plus, Bitpay or other bitcoin payment processors will assess whether or not your transaction has enough fees to be confirmed in the first block. If your transaction is large obviously maybe they'll ask you to sit down and wait till confirmations arrive, and the same with low transaction fees.

Bitcoin is built for ecommerce imo so real world adaptability isn't that great atm.

Yeah the discussion was about buying things and he choose the way of instantly converting coins to fiat to buy things.
At a 15% "discount" rate in order to avoid the confirmation times.
Which in my opinion is plain stupid.

And what will merchants trust in you?
Just because they have a video of you entering in he store which might or might not identify you?
They will go through the hassle of filing a complain to the police wait for them to identify you (if ever) and the go to the entire costly process of getting the money through legal ways?
If they do manage that.

Nobody will give you the goods with 0 confirmations.
At least nobody with a brain at work in their heads.

At 9 am there was a 30 minutes gap between blocks.
Do you imagine all the people that enter in a shop in half an hour lining on the wall waiting for the confirmation to be able to leave with their groceries?
Who the hell is going to do that?

[novemberwoah]

I think merchants will not trust if we just show our wallets. Actually I do not know how it works, as far as I know this only applies in online purchases like we want to buy clothes or airline tickets with bitcoin. Maybe if we buy directly we have to send bitcoin first and order will be delivered, maybe like that. And it takes time for bitcoins to actually get transferred. I do not know what happens if the transaction has a problem, it will take longer.

[foxbat]

For exemple, I go to a coffee shop, I buy a coffee, then I pay with Bitcoin, we have to wait for a confirmation, no? or the merchant will just trust me if I show my wallet?
How can we be sure that it's not a double spent transaction or something else?

We should think about how we use bitcoin before talking about its speed. When it comes to big deals and in far-flung places in the world, bitcoins play an extremely important role that cash can not be replaced: speed, convenience and transparency. For transactions in life, bitcoin can not meet its speed, when at close range, cash takes more advantage.

[jovs]

For exemple, I go to a coffee shop, I buy a coffee, then I pay with Bitcoin, we have to wait for a confirmation, no? or the merchant will just trust me if I show my wallet?
How can we be sure that it's not a double spent transaction or something else?

That is the problem that bitcoin have been facing at the moment, high transaction fees, slow confirmations on the blockchain unless the user selects a high priority fees, but I doubt there would be anyone who are willing to fork out additional money just for purchasing one coffee. Maybe it would be a good idea to stop using bitcoin for small transaction at the moment, until the confirmation about the segwit or fork on 1st august.

Yes there is some cases of problem that Bitcoin faced at this moment. But the transactions , conformation and transaction fees is just a little things to solved. It just need development on bitcoin system so it may adopt on the market. So in transaction more people and more business will be open on accepting bitcoin on their transactions. For me confirmation is just there for authorization for security and investment.

[lecongnhan123]

For exemple, I go to a coffee shop, I buy a coffee, then I pay with Bitcoin, we have to wait for a confirmation, no? or the merchant will just trust me if I show my wallet?
How can we be sure that it's not a double spent transaction or something else?

They wont need that if they really know bitcoin.
It is not like Paypal that you could take it back. Once a transaction is in process it is good to go.
If only I got that business I would offer a bitcoin payment.
And as long you paid the right price it is good to go.
I dont even need your information because nothing bad would happen.

Hm? glerand, you said as if there were not any "Double spend" happened. If real shops do accept Bitcoin without any confirmation, some people will use that to do bad things. I think there should be some rules about Bitcoin fees, some minimum fees should be asked to make sure the payments will arrive.

[FasTroy]

I think merchants will not trust if we just show our wallets. Actually I do not know how it works, as far as I know this only applies in online purchases like we want to buy clothes or airline tickets with bitcoin. Maybe if we buy directly we have to send bitcoin first and order will be delivered, maybe like that. And it takes time for bitcoins to actually get transferred. I do not know what happens if the transaction has a problem, it will take longer.

I think there is no problem to buy with bitcoin, Maybe it's not quick like the OP said. because all depend of fees puted in the transactions, Maybe some market they didn't want to accepted bitcoin because some buyer can set low fees which transactions can be too late, so the solution is that markets should fixed some fees for buyers.

[stompix]

I think merchants will not trust if we just show our wallets. Actually I do not know how it works, as far as I know this only applies in online purchases like we want to buy clothes or airline tickets with bitcoin. Maybe if we buy directly we have to send bitcoin first and order will be delivered, maybe like that. And it takes time for bitcoins to actually get transferred. I do not know what happens if the transaction has a problem, it will take longer.

I think there is no problem to buy with bitcoin, Maybe it's not quick like the OP said. because all depend of fees puted in the transactions, Maybe some market they didn't want to accepted bitcoin because some buyer can set low fees which transactions can be too late, so the solution is that markets should fixed some fees for buyers.

So we should just trample all that stands for a free market and have some imposed tx.
Imposed by who? The sellers? The association of sellers of kangaroo meat? The paprika union?

No one will accept 0 confirmation tx. No matter what the fee.

I think merchants will not trust if we just show our wallets. Actually I do not know how it works, as far as I know this only applies in online purchases like we want to buy clothes or airline tickets with bitcoin. Maybe if we buy directly we have to send bitcoin first and order will be delivered, maybe like that. And it takes time for bitcoins to actually get transferred. I do not know what happens if the transaction has a problem, it will take longer.

It works the same be it online and in real person at mc donalds.
Your order will be cleared only after the 1 or maybe 3rd confirmation block.

Speed is essential in these days and asking people to wait 30 minutes to buy something is not an option.
Drop the block time to 2 mins and we will solve a lot of issues.

[speem28]

For exemple, I go to a coffee shop, I buy a coffee, then I pay with Bitcoin, we have to wait for a confirmation, no? or the merchant will just trust me if I show my wallet?
How can we be sure that it's not a double spent transaction or something else?

Yes, as of now we cannot really use Bitcoin as a practical way of mode of payment. This is due to the transaction confirmation waiting time that can take hours and even days, as well as the increasing transaction fees. With these issues, Bitcoin is not classified as an efficient mode of payment. However, in the near future, we will see some major improvements in the Bitcoin technology. We will see almost instant transactions with lower fees. It is only a matter of time 'til we see that scenario.