How much is that again?

[grifferz]

Bitcoin is not practical in real world situations. No way around it..

When will you be removing the bitcoin address from your forum signature then?

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[franky1]

Bitcoin is not practical in real world situations. No way around it..

try telling that to atleast 50,000 real world stores currently selling their products and food successfully with bitcoin.

let alone the big internet business's such as tigerdirect, overstock.com, etc

[Joshuar]

Bitcoin is not practical in real world situations. No way around it..

try telling that to atleast 50,000 real world stores currently selling their products and food successfully with bitcoin.

let alone the big internet business's such as tigerdirect, overstock.com, etc

Smh, since Bitcoin's price can fluctuate say, 30% in one day as it previously had prior to Mt.Gox's fall..that would make it highly impractical. That's why most businesses don't accept bitcoin, because a guy can come in, buy a $800 laptop for 1 bitcoin if it's worth $800 that day, and the next day Bitcoin could drop to $600. It's not reliable, and very unsteady. Do economics..better yet..call in, email, w/e, but ask other big businesses why they don't use Bitcoin.. It's unstableness is one of many reasons.. Be real guys.

[grifferz]

a guy can come in, buy a $800 laptop for 1 bitcoin if it's worth $800 that day, and the next day Bitcoin could drop to $600.

…by which time the code that updates the bitcoin price based on exchange rates has already adjusted the bitcoin cost to BTC1.33333333, meanwhile the store already exchanged the previous day's BTC1 for $800 within a few seconds of the transaction taking place.

Please, do the bare minimum of research on how existing bitcoin shopping carts work before making a fool of yourself online.

[zx81]

This thread is like "herp derp imagine this world wide intarweb catches on but people want to buy something securely, how can average man with a typewriter understand how to factor large primes and shit. ECOMMERCE IS AND SHOULD BE DOOMED"

I only read threads like this.

[Joshuar]

a guy can come in, buy a $800 laptop for 1 bitcoin if it's worth $800 that day, and the next day Bitcoin could drop to $600.

…by which time the code that updates the bitcoin price based on exchange rates has already adjusted the bitcoin cost to BTC1.33333333, meanwhile the store already exchanged the previous day's BTC1 for $800 within a few seconds of the transaction taking place.

Please, do the bare minimum of research on how existing bitcoin shopping carts work before making a fool of yourself online.

I loled, looks like you need to do more research...most "stores" that accept bitcoin are online, and how do you know that they sell the bitcoins seconds are transactions taking place? Are are you just pulling sentences out of your ass. Provide sources, I've googled it and didn't find one answer on what stores do with the Bitcoin after selling a product for Bitcoin. Maybe some hoard it, you need to learn how to give information correctly.

[grifferz]

I loled, looks like you need to do more research...most "stores" that accept bitcoin are online

So what?

Strange usage of scare quotes, also.

how do you know that they sell the bitcoins seconds are transactions taking place?

Because there are several implementations already in existence that work this way, and it is the most sensible way to do it.

Here's a description of one that is used in at least 5 pubs in the UK:

http://www.wired.co.uk/news/archive/2013-06/17/london-bitcoin-pub

Customers pay by scanning a QR code on a till, not by visiting a website (though I am unclear why you have a prejudice against online stores). This implementation checks fiat price every hour and adjusts bitcoin prices accordingly.

Perhaps the world's most popular bitcoin payment gateway, bitpay, obviously in its web shopping cart converts online sales immediately from bitcoin to fiat, but they also have a point of sale app for bricks and mortar stores:

https://bitpay.com/bitcoin-for-retail

and that works exactly the same, immediately converting the payment to fiat.

Are are you just pulling sentences out of your ass. Provide sources, I've googled it and didn't find one answer on what stores do with the Bitcoin after selling a product for Bitcoin. Maybe some hoard it, you need to learn how to give information correctly.

The number of bricks and mortar operations accepting bitcoin is still tiny because of the obvious issue of customers needing to already know about it and visit in person with a mobile device that has a bitcoin wallet on it.

But it is obvious how it would work, and multiple implementations already exist, so I don't think you've looked very hard.

Your tone is almost as if you don't think bricks and mortar stores have Internet access to process payments, which makes me wonder how you think today's credit card purchases work.

[CryptoFuture]

When I buy a beer at the pub they ask for 1/9120931^th of a million dollars.

[vnvizow]

yep, in the near future I'm pretty sure people will use the terms mbtc, ubtc, and satoshi's for measurement instead of whole bitcoins

[cococoin]

yep, in the near future I'm pretty sure people will use the terms mbtc, ubtc, and satoshi's for measurement instead of whole bitcoins

Said very reasonable, support.

[lnternet]

Yesterday I bought a donut, and the cashier wanted one half 0.0000000124 Tera$ from me. I was like I only have a 0.00000000001 Peta$ bill, can you change. So she game me $3.80 in change and life was good once we had settled on a useful unit.

[Bonio]

We went through something similar in Europe with the Euro. Each country had to adapt to life with a new currency, trying to work out what stuff is worth etc.

The thing is if a shop has an item and its .09 Bitcoin that is what it costs, if you want to buy it you will have to spend that much btcoin. If the shop next door has the same item for .08 then you might go next door. The good thing is you dont have to work the change out

[apsvinet]

From my experience you get used to all the decimals. I had troubles at first
and had to google, count the zero's and shit, but your brain adapts after a while.

[principalg1]

Then don't come in europe, here you will have to use euro or pounds, good luck discovering how much you are going to spend  Cheesy

Nothing stop the shop from showing also the euro/dollar/pound price using the current price of bitcoin

[Taras]

Time to use your brain guys, you can just use millibitcoins or microbitcoins. The bitcoin-qt client already let you choose that.

That would like be 74.52 microbitcoin 

Now let us assume that you just gave that information to John or Jane Doe who understand dollars.

They still don't know how much MONEY they are going to spend.

My $.02.

See this is ten years in the future.
For all we know, it's overtaken the dollar and John/Jane Doe don't even have any usd.

[which2say]

A bit do not understand, I am a novice.

Similarly novice, said the unit seems to be Bitcoin, of course I could be wrong.

[apsvinet]

Time to use your brain guys, you can just use millibitcoins or microbitcoins. The bitcoin-qt client already let you choose that.

That would like be 74.52 microbitcoin 

Now let us assume that you just gave that information to John or Jane Doe who understand dollars.

They still don't know how much MONEY they are going to spend.

My $.02.

We've already seen currency changes in different countries. People have a hard time adapting at first but time goes by and suddenly it's just done without thinking about it. Exactly the same happened to me when I first was introduced to bitcoins. All the zero's and decimals were crazy, but now it's alright.