Best types of crypto "real-world" transactions?

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Quote from: genuin on September 18, 2018, 11:58:14 PM

Quote from: jimjcub on September 17, 2018, 10:59:24 AM

I'm researching to see what types of "real-world" crypto transactions you would find most useful?
Venmo/Cash App type - Peer2Peer
Daily life spending (grocery stores, coffee, etc)
Paying bills
Etc...

I'm asking your thoughts on this

In countries that have considered legal BTC, they definitely feel the use of BTC in their lives. But in countries that consider BTC to be illegal they can only prove trade activities that they cannot do directly. But we must realize that someday BTC will have an impact on the world.

In general, the “real-world” of cryto belongs to some places that accept digital currency legally and plus those who don’t get wrong information about crypto and be keen on it. Our whole world trends to live in a world of modern as well as convenience, and evidently digital currency is a great choice for current life, but in fact, there’s a few countries, which accept the exist of crypto and almost all governments impose a ban on crypto. At current, no crypto is the best type for real-world transaction, but I believe and extremely hope that crypto has a big talk around the world.

davinchi

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Quote from: jimjcub on September 17, 2018, 10:59:24 AM

I'm researching to see what types of "real-world" crypto transactions you would find most useful?
Venmo/Cash App type - Peer2Peer
Daily life spending (grocery stores, coffee, etc)
Paying bills
Etc...

I'm asking your thoughts on this

Crypto is digital and it doesn’t work like you think it does. It can only be used online and not offline like you would do when using fiat. Fiat is different and can be used both online and offline. Offline is cash while online is using a bank app to send and receive money and also pay your bills.

I can remember that Xapo tried to do something like that back then when I joined new on crypto and they put an option for users around the world to pay bills and buy airtime for their phone.

But I did that and it never worked, I didn’t receive any airtime at all. I also reported to them and they didn’t solve the issue… whatever, it was just a little amount.

Kevin77

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Quote from: Strufmbae on September 17, 2018, 09:34:37 PM

Of course peer to peer transaction via scanning QR code is the most easy to request payment and send payment too, but the acceptance of connection of crypto wallets to any big merchants will be a great help to crypto users. Paying bills through crypto is not good in my opinion because most of the time companies such as electric company requests for an official receipt. Also water bills, internet bills.

Peer to peer transactions in which transactions can still be done without the need of having to log in to your wallet anytime and probably with the evolution of crypto debit cards or there about, that would make a lot of sense. Hopefully we will get to see technologies popping up in the long run in which people can easily make payments very quickly even in a peer to peer way and I am really looking forward to it with the hope that we are really getting close.

There is really no such crypto which is the best for real world transactions yet. It is not like there are not so many coins available yet for real life transactions, but the truth remains that they are not being used at the moment in real life until we start seeing merchants accepting them as a means of payment and people tending to use it and adopt its usage as a currency which is something we all know is hard to find in the space at the moment.

In a case where day to day transactions starts popping up in which I can buy groceries, but different items with crypto, then I would prefer bitcoin any day.

tbterryboy

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Quote from: jimjcub on September 17, 2018, 10:59:24 AM

I'm researching to see what types of "real-world" crypto transactions you would find most useful?
Venmo/Cash App type - Peer2Peer
Daily life spending (grocery stores, coffee, etc)
Paying bills
Etc...

I'm asking your thoughts on this

I’m not getting this, what do you mean by crypto real world transaction, is there anything as such? Real world transactions are like fiat.. That means a physical form transaction with cash.

But if you talk of online or digital form of transaction, then it has to do mobile transactions (mobile banking, PayPal, skrill,) and crypto transactions (Bitcoin, Ethereum etc.). So there is nothing like a crypto real world transaction, crypto is just crypto and nothing else.

figmentofmyass

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Quote from: bob123 on September 19, 2018, 12:49:27 PM

Quote from: BitHodler on September 18, 2018, 06:57:37 PM

Conducting payments based on fiat in my case means instant transactions, zero transaction fees, and various degrees of buyers protection.

Zero fees ? There is not a single bank which does not take hefty fees when paying with credit cards.
It is just that the buyer mostly never sees the fees. But the merchant's income is reduced by a not-that-small percentage.

Various degrees of 'buyers protection' also means that there is no sellers protection. This is a two-edged sword. It all depends on the point of view.

that highlights why bitcoin isn't super attractive to consumers. you give up any consumer protections, and you also give up incentives from credit card companies.

i'm aware that consumers pay the merchant fees in the form of higher prices, but that cost is already socialized among consumers because other people use credit cards. if i stop using credit cards, i'll still pay those higher prices. there's no added incentive for me use cash or bitcoin in that sense.

the most rational thing for me to do is use credit cards for the cash back rewards. and if i need to charge back against a bad merchant, i have that option. my opinion may change for transactions where i need privacy, but i don't care about that for the vast majority of day-to-day transactions.

bob123

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Quote from: BitHodler on September 18, 2018, 06:57:37 PM

Conducting payments based on fiat in my case means instant transactions, zero transaction fees, and various degrees of buyers protection.

Zero fees ? There is not a single bank which does not take hefty fees when paying with credit cards.
It is just that the buyer mostly never sees the fees. But the merchant's income is reduced by a not-that-small percentage.

Various degrees of 'buyers protection' also means that there is no sellers protection. This is a two-edged sword. It all depends on the point of view.

I'd rather be the one who sends my money to the seller. I don't want my bank to handle my payments to the merchants bank. For me, giving up the control over my money and paying a fee for doing so, is kind of retarded.
And i can't imagine that i am the only one thinking this way.

audaciousbeing

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Quote from: jimjcub on September 17, 2018, 10:59:24 AM

I'm researching to see what types of "real-world" crypto transactions you would find most useful?
Venmo/Cash App type - Peer2Peer
Daily life spending (grocery stores, coffee, etc)
Paying bills
Etc...

I'm asking your thoughts on this

What other real-world transactions that you want that is not there. For one, you can convert to any fiat you want then buy whatever you want.

Away from that, a visit to peer to peer sites like Paxful would show enough example of real world transactions. You can buy gift cards, AliPay payments, PayPal, Amazon cards, iTunes vouchers, phone vouchers, book hotels, flights etc you could even buy a car and get it shipped to you. Virtually every real life transactions bitcoin can be applied you might either go direct, or have to go through an intermediary which is also present if you buying from abroad with your own local currency.

pinkflower

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Quote from: 1Referee on September 18, 2018, 05:48:03 AM

Quote from: pinkflower on September 17, 2018, 11:31:26 PM

Add transactions through radio or a independent wireless mesh network that doesnt need an internet provider. I think those kinds of transactions would be the most important because they cant be censored by anyone in power.

In the end there is a party that broadcasts the transaction to the network through the internet, so it's not entirely bullet proof. I have yet to come across something that's truly censorship resistant. That however doesn't mean these semi offline networks aren't useful. I have seen a demonstration where its usefulness peaks in areas hit by natural disasters and whatnot.

What I am looking forward to is the day that a wide range of compatible hardware wallets will allow you to swap preloaded private keys in a direct peer to peer manner. Benefit here is that no one externally will notice that coins have been put to work because nothing happens on-chain, while in reality the coins may have had hundreds of different holders already. I don't think we're that far away from seeing this become reality.

Its useful when the entire world is hit by the big one. The greatest financial collapse of all financial collapse, World War III or an alien invasion lol. We will need low energy, portable miners and nodes thats connected on a radio or wifi mesh network.

Its going to be the most important transactions in our lives thats done by blockchain.

genuin

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Quote from: jimjcub on September 17, 2018, 10:59:24 AM

I'm researching to see what types of "real-world" crypto transactions you would find most useful?
Venmo/Cash App type - Peer2Peer
Daily life spending (grocery stores, coffee, etc)
Paying bills
Etc...

I'm asking your thoughts on this

In countries that have considered legal BTC, they definitely feel the use of BTC in their lives. But in countries that consider BTC to be illegal they can only prove trade activities that they cannot do directly. But we must realize that someday BTC will have an impact on the world.

BitHodler

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International payments is where Bitcoin really separates itself from the crowd.

If we look at every day aspects such as local payments and paying all kinds of bills, I don't see much use for Bitcoin to be honest. Fiat infrastructure here has never been as solid and convenient as it is right now.

Conducting payments based on fiat in my case means instant transactions, zero transaction fees, and various degrees of buyers protection. Bitcoin can't match any of this and for that reason doesn't stimulate me to use it.

Bitcoin's volatility makes things even worse. I like Bitcoin in more than one way, but we have to remain realistic and not hype it up where it doesn't outperform fiat. Bitcoin is and will remain the underdog.

figmentofmyass

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Quote from: jimjcub on September 17, 2018, 10:59:24 AM

I'm researching to see what types of "real-world" crypto transactions you would find most useful?
Venmo/Cash App type - Peer2Peer
Daily life spending (grocery stores, coffee, etc)
Paying bills
Etc...

I'm asking your thoughts on this

all of the above. i'm a bitcoiner, and i love to use it. if i could get friends to use it like venmo, that'd be great. i feel like those third party apps log too much information about us. unfortunately my friends are all hoarders or skeptics.

paying bills would be great too. i'm self-employed and the majority of my income is from day trading, denominated in BTC. it would cut out the middleman (exchanges, banks) and i could just pay directly. rent too.

HeRetiK

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Quote from: jimjcub on September 17, 2018, 10:59:24 AM

I'm researching to see what types of "real-world" crypto transactions you would find most useful?
Venmo/Cash App type - Peer2Peer
Daily life spending (grocery stores, coffee, etc)
Paying bills
Etc...

I'm asking your thoughts on this

Anything that I'm currently using my credit card for, ie. online shopping, booking hotels and flights.

Being a freelancer, I'd also prefer receiving bitcoins from my international clients and partners (in my case: outside the Eurozone) rather than bothering with the likes of PayPal. Alas adoption is not quite there yet.

I don't care much about using Bitcoin for daily life spending and paying utility bills though.

1Referee

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Quote from: pinkflower on September 17, 2018, 11:31:26 PM

Add transactions through radio or a independent wireless mesh network that doesnt need an internet provider. I think those kinds of transactions would be the most important because they cant be censored by anyone in power.

In the end there is a party that broadcasts the transaction to the network through the internet, so it's not entirely bullet proof. I have yet to come across something that's truly censorship resistant. That however doesn't mean these semi offline networks aren't useful. I have seen a demonstration where its usefulness peaks in areas hit by natural disasters and whatnot.

What I am looking forward to is the day that a wide range of compatible hardware wallets will allow you to swap preloaded private keys in a direct peer to peer manner. Benefit here is that no one externally will notice that coins have been put to work because nothing happens on-chain, while in reality the coins may have had hundreds of different holders already. I don't think we're that far away from seeing this become reality.

batang_bitcoin

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Paying bills.

I've used to pay bitcoin monthly for paying my bills and its very convenient. But the exchanger probably is converting those mbtc's that I pay in cash first before remitting it to the biller. Anyway that's cool and there's really an use for it in real world and I wouldn't find the most useful because every use that we adopt is the most that we need.

pinkflower

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Quote from: jimjcub on September 17, 2018, 10:59:24 AM

I'm researching to see what types of "real-world" crypto transactions you would find most useful?
Venmo/Cash App type - Peer2Peer
Daily life spending (grocery stores, coffee, etc)
Paying bills
Etc...

I'm asking your thoughts on this

Add transactions through radio or a independent wireless mesh network that doesnt need an internet provider. I think those kinds of transactions would be the most important because they cant be censored by anyone in power.

Maybe this transaction sent over radio in the Burst blockchain was argued to be illegal, but the significance of this project will be off the scale.

Strufmbae

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Of course peer to peer transaction via scanning QR code is the most easy to request payment and send payment too, but the acceptance of connection of crypto wallets to any big merchants will be a great help to crypto users. Paying bills through crypto is not good in my opinion because most of the time companies such as electric company requests for an official receipt. Also water bills, internet bills.

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Quote from: jimjcub on September 17, 2018, 10:59:24 AM

I'm researching to see what types of "real-world" crypto transactions you would find most useful?
Venmo/Cash App type - Peer2Peer
Daily life spending (grocery stores, coffee, etc)
Paying bills
Etc...

I'm asking your thoughts on this

Real world transaction means we need the acceptance from big payment company like paypal or payoneer and skrill too. This is really adoption and good change for the crypto marketplace also if this is been done.
Later in near future however we will find this thing and it will be happen for sure.

jimjcub

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I'm researching to see what types of "real-world" crypto transactions you would find most useful?
Venmo/Cash App type - Peer2Peer
Daily life spending (grocery stores, coffee, etc)
Paying bills
Etc...

I'm asking your thoughts on this

Topic: Best types of crypto "real-world" transactions? (Read 233 times)