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Author Topic: Bitcoin impracticable payment. What is the solution?  (Read 189 times)
TheWolf666
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August 10, 2018, 08:50:21 AM
 #1

Right now if you want to buy a pizza with Bitcoin, you will have some problems, the delay it will take and the fees will make it impossible.

https://lightning.network

This seems to be a solution. What is your though about this? Is this going to be as secured and anonymous? Where are the source of this technology?
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bitbunnny
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August 10, 2018, 08:55:13 AM
 #2

Every solution has its bad and good sides, so the same it's with this one. Complete security also doesn't exist so it surely has its downfalls and I don't think that it will be anonimous, at least not completely. KYC has become a must for legitimate businesses.
To my opinion Bitcoin debit cards are so far the best solution for easy and convenient Bitcoin payment. Except that we need more cards providers.

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Amarantcoral
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August 10, 2018, 09:19:06 AM
 #3

If you want to use bitcoin to buy presents, the most obvious solution is gift cards, via Gyft or eGifter. The recipient will then be able to spend the gift card at one of a wide range of retailers.

You can pay for flights and hotels with bitcoin, through Expedia, CheapAir and Surf Air. If your ambitions are loftier, you can pay for space travel with some of your vast holdings, through Virgin Galactic.
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August 10, 2018, 09:51:09 AM
 #4

if you think it is "imracticable" to use bitcoin to buy a pizza then don't use bitcoin to buy a pizza, use it for something else and if you think it is like this for everything then leave it altogether. nobody forces you to use something you think is not practical. let the millions of others who know it is practical to use it.

the delay you are talking about is the confirmation and i have not seen any pizza shop complain about it or ask the customer to stand there until it is confirmed! they accept it and are happy and so far nothing bad has happened. it is all in your head.

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TheWolf666
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August 10, 2018, 10:33:27 AM
 #5

if you think it is "imracticable" to use bitcoin to buy a pizza then don't use bitcoin to buy a pizza, use it for something else and if you think it is like this for everything then leave it altogether. nobody forces you to use something you think is not practical. let the millions of others who know it is practical to use it.

the delay you are talking about is the confirmation and i have not seen any pizza shop complain about it or ask the customer to stand there until it is confirmed! they accept it and are happy and so far nothing bad has happened. it is all in your head.

The point was more about https://lightning.network
This thing pretend being able to process millions of transactions per seconds using the blockchain technology.
CharlieAdoring
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August 10, 2018, 10:35:38 AM
 #6

Maybe if certain people spent less time promoting shit forks forcing developers to focus time on countermeasures they instead could of spent time on fixing actual issues and we wouldn't be here right now.
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August 10, 2018, 10:41:55 AM
 #7

Bitcoin fees to high? Unusable? Hate it?
Me too!
Could not download a CD in the early 90ies?
Hated it too!
You have invested in early tech!
Some people think and work day and night so solve this issue in a way Bitcoin can survive centuries!
Have faith.
Red-Apple
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August 10, 2018, 10:47:17 AM
 #8

if you think it is "imracticable" to use bitcoin to buy a pizza then don't use bitcoin to buy a pizza, use it for something else and if you think it is like this for everything then leave it altogether. nobody forces you to use something you think is not practical. let the millions of others who know it is practical to use it.

the delay you are talking about is the confirmation and i have not seen any pizza shop complain about it or ask the customer to stand there until it is confirmed! they accept it and are happy and so far nothing bad has happened. it is all in your head.

The point was more about https://lightning.network
This thing pretend being able to process millions of transactions per seconds using the blockchain technology.

well you started by complaining about buying a pizza and having to wait for confirmation. i say when you haven't even tried to do it why are you talking about it then?
same goes with LN. when you have not even bothered to test LN yet how are you complaining about it and use the word "pretend"?

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mjglqw
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August 10, 2018, 11:13:15 AM
 #9

Right now if you want to buy a pizza with Bitcoin, you will have some problems, the delay it will take and the fees will make it impossible.
Transactions fees aren't slow and expensive for months already. You're still living in December 2017 apparently.

The point was more about https://lightning.network
This thing pretend being able to process millions of transactions per seconds using the blockchain technology.
"pretend" lol. Tell you what. Download the Eclair wallet right now and try it out.

CharlieAdoring
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August 10, 2018, 11:21:31 AM
 #10

The difference, of course, is that Bitcoin used to have low fees. It has regressed - gotten worse with time - whereas internet bandwidth didn’t.
mjglqw
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August 10, 2018, 11:24:04 AM
 #11

The difference, of course, is that Bitcoin used to have low fees. It has regressed - gotten worse with time - whereas internet bandwidth didn’t.


The difference is that bitcoin was a lot cheaper back then, so obviously the fees would be significantly cheaper back then; and the fees aren't even that bad at the moment. The fees are low enough for online purchases, just not low enough for micro transactions. Maybe actually try transacting using bitcoin?

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August 10, 2018, 11:32:02 AM
 #12

If we are buying pizza from bitcoin then transaction confirmation time is not a big problem because everyone know bitcoin transaction is not reversible and once payment send then transaction will be confirm on blockchain network but transaction fee will be a problem if some kind of changes is possible then banks and coinbase can issue bitcoin debit,credit cards and ATM's will be good options.
TheWolf666
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August 10, 2018, 03:20:38 PM
 #13

Let's reformulate the question.

What do you think about this: https://lightning.network

?
etnichalx837
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August 13, 2018, 01:52:30 AM
 #14


For small transactions, it is clear that bitcoin is not practical, because it loses fast using paper money. But for large transactions such as buying property, lambo, or investing in stocks, using bitcoin may be safer and more comfortable. The solution to overcoming bitcoin is impractical, one of which is by making bitcoin debits issued by exchanging bitcoin using an anonymous card, even though ultimately it's not 100% anonymous because identity is a must, at least fingerprints.
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August 13, 2018, 03:22:38 AM
 #15

Let's reformulate the question.

What do you think about this: https://lightning.network

?

why don't you check it out yourself?
start by reading the lightning network paper or at least skim through it since it is long. then start by searching the internet and reading on how you can run an LN node and maybe start one yourself. this is a decentralized network, in the end it doesn't matter what others think about it. what matters is if you like it or not.

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August 13, 2018, 07:14:16 AM
 #16

Right now if you want to buy a pizza with Bitcoin, you will have some problems, the delay it will take and the fees will make it impossible.
No, buying one pizza using bitcoin is possible:

 - Fees are currently cheap where you can pay 0.1 to $ 0.3 and ensure confirmation in 10 minutes.
 - The delay of 10 minutes can be ignored. If you are in the restaurant you can pay first and after you finish eating your transaction will be confirmed. Similarly, if you order it.
 
The impossible thing is to use a Bitcoin for the daily transaction or accept large stores using that currency.
Will lead to a lot of transactions and therefore more fees and so on "Lightning Network is one of the proposed solutions that are being developed."

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August 13, 2018, 02:33:11 PM
 #17

Now many big company’s accept bitcoin but it’s not easy to that’s kind of payment available with butcoin and here no need to anonymous.
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August 13, 2018, 02:39:47 PM
 #18

I am buying junk food daily without the use of the Lightning Network, so I do not understand where the problem is? The fees

are relatively low and it is very quick too. {Disclaimer : I am doing SegWit to SegWit transactions}  Grin  The Lightning Network

is Bitcoin on steroids and the next evolution in the Bitcoin experiment. The Lightning Network is also ideal for micro payments,

so this is the scaling solution for the future.  Cool

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BrewMaster
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August 13, 2018, 02:42:49 PM
 #19

- The delay of 10 minutes can be ignored. If you are in the restaurant you can pay first and after you finish eating your transaction will be confirmed. Similarly, if you order it.

this is not necessary at all. i think this way of thinking is only because bitcoin is new and different that what we are used to. but if you think about it when you go to a restaurant and pay with credit card for instance, the manager doesn't make you wait a month or so for the transaction to finalize. no, they let you go and maybe in a couple of hours or in a day the transaction was reversed and the restaurant loses money because the credit card you used was stolen one but that is the risk that a restaurant owner takes.
so why do we insist on having a different way of things for bitcoin?

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August 13, 2018, 02:48:20 PM
 #20

Right now if you want to buy a pizza with Bitcoin, you will have some problems, the delay it will take and the fees will make it impossible.

https://lightning.network

This seems to be a solution. What is your though about this? Is this going to be as secured and anonymous? Where are the source of this technology?

Yep. That's the two things I really hate about bitcoins making it near perfect would mean solving these two problems. The two problems are the expensive transfer cost and the slow transfe rate. It just goes to show that even the king has some flaws in it. But I think someone would find a solution to this.

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