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Author Topic: A day with Bitcoin  (Read 475 times)
DreamStage
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April 03, 2019, 07:47:39 PM
 #41

You should just not keep your money in virtual places.

I mean you should split them into several different locations such as online wallet, Trezor or even your bank.
Considering we are talking about some money to be used for real life situations such as yours.

By having both money in your bank, with you and at some online wallet you will be able to use every 3 payment types which will make your life easier.

You have to understand (as you are aware) not all local shops have bitcoin transactions for their payments.

Nothing to see here
adzino
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April 03, 2019, 08:00:09 PM
 #42

Man, your activities actually show that you did not spend a single day using bitcoin only  Embarrassed. Unfortunately, all you did was spend fiat currency. Not to offend you or anything, but that was plain stupid to keep on exchanging small amount of bitcoin for fiat. You could have done it all together and spend yourself from trouble. The story would have been a whole different thing if it was like you spent bitcoin to pay for things directly but faced some problems. But all you did was exchange bitcoin for fiat and then spend everything normally.

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Ucy
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April 03, 2019, 08:40:48 PM
 #43

Exchanging Bitcoin for fiat in that way sounds unique. It is a good example of peer-to-peer transactions. The direct p2p transaction is probably why it is faster than LocalBitcoin. I used to think  LocalBitcoin and similar p2p exchanges were the fastest for peer-to-peer transactions.
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April 03, 2019, 09:08:45 PM
 #44

Bitcoin isn't legal in some countries but even if in some countries, it's legal, one still have to face hassle if they want to use bitcoin in every step of real life. Most of the shops don't accept it.

it is true that bitcoin is not legal in some countries, but you said that there are countries where bitcoin is legal and even is legal many merchants do not accept bitcoin as a means of payments. It is necessary to understand certain things here, first the parliament of these countries must create laws that say that bitcoin is legal and that can be used as means of payments and what will be the forms of tax payments, consumer protection, control of money laundering, as traders will set prices so as not to be prejudiced because of volatility, among other things, this is a long process that should have already begun in many countries. In countries such as mine for example, it still lacks much knowledge to be absorbed by the population before some merchant dreams of accepting bitcoin as a means of payment. My country's parliament is constituted of people who do not seem to be proactive in technology, so I have serious doubts if in 5 years it will be possible to legalize bitcoin in my country




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April 03, 2019, 10:04:15 PM
 #45

Bitcoin isn't legal in some countries but even if in some countries, it's legal, one still have to face hassle if they want to use bitcoin in every step of real life. Most of the shops don't accept it.
In my local, it's not illegal but no one accepts bitcoin as currency or payment method. However, last week, I was in vacation and decided to use bitcoin for a whole 1 day. As bitcoin isn't allowed here, I choose one local guy(he owns a local exchange) who exchange bitcoin for my native currency. I decided not to use any fiat directly from my pocket. What I did, whenever I was in need of fiat, I had to contact with that local guy and sent him BTC for fiat. I could have done it at once but I choose to exchange only if I need. I could have used localbitcoin but it requires more time.

10 PM
I need approx $30 for transportation cost and I talked with the guy over phone and exchanged 0.02 BTC for fiat. I bought ticket and spent some fiat for foods. I had a few bucks left in my pocket. I reached at destination at 04:00 am and I had to have rent a room but I didn't have enough fiat. I called that guy at 4 am, he didn't picked the phone since he was sleeping. So, I had to spend some times at waiting room, at some point I slept for a while  Grin
I had a few bucks left from yesterday, spent these on breakfast. Again, I called that guy and this time, he picked up the phone. We had talked for some minutes, he was asking me to exchange all the amount I need to but I decided not to exchange these at once. So, I exchanged 0.05 BTC this time and rented a room. I spent couple of hours there. Later, went out for having some fun. After completing my lunch, I came back to room and had a rest for some times. In afternoon, I had visited some places, had some food.Then I came back to my room and had rest for couple of hours before going to dinner. I had left some fiat from the previous exchange. I used these for dinner and left almost nothing. I decided to exchange the rest 0.03 BTC because I had to have breakfast at morning. I slept till 8 am. Later, I got freshed and took my breakfast before getting back to my home.

Conclusion
You probably have easily read the whole story but only I know how much pain it was when I had to wait almost 5 hours without a single fiat money. I had done this only out of my curiosity. We are still far away from using bitcoin as our daily currency.

P.S- I had fiat option to pay since I had my card with me. I took it to avoid any unexpected issue.

You did not use BTC directly
Because you were bought by Fiat in the end
But it is an exciting experience and you try to spread the idea
Suggestion .. Next time ask every shop you enter Why do not you accept BTC ?

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April 04, 2019, 12:43:31 AM
 #46

Exchanging Bitcoin for fiat in that way sounds unique. It is a good example of peer-to-peer transactions. The direct p2p transaction is probably why it is faster than LocalBitcoin. I used to think  LocalBitcoin and similar p2p exchanges were the fastest for peer-to-peer transactions.
Localbitcoin is a hassle for me because it requires NID. Moreover, you can't exchange BTC instantly. At least, you can't sell instantly although you can purchase instantly. I'm locking the thread.

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