Bitcoin impracticable payment. What is the solution? - page 3.

hugeblack

legendary

Activity: 2506

Merit: 3645

Buy/Sell crypto at BestChange

Quote from: TheWolf666 on August 10, 2018, 04:50:21 AM

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."

pooya87

legendary

Activity: 3444

Merit: 10558

Quote from: TheWolf666 on August 10, 2018, 11:20:38 AM

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.

etnichalx837

newbie

Activity: 30

Merit: 0

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.

TheWolf666

full member

Activity: 615

Merit: 154

CEO of Metaisland.gg and W.O.K Corp

Let's reformulate the question.

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

?

paulwdc

newbie

Activity: 32

Merit: 0

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.

mk4

legendary

Activity: 2716

Merit: 3817

Paldo.io 🤖

Quote from: CharlieAdoring on August 10, 2018, 07:21:31 AM

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?

CharlieAdoring

newbie

Activity: 36

Merit: 0

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

mk4

legendary

Activity: 2716

Merit: 3817

Paldo.io 🤖

Quote from: TheWolf666 on August 10, 2018, 04:50:21 AM

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.

Quote from: TheWolf666 on August 10, 2018, 06:33:27 AM

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.

Red-Apple

hero member

Activity: 1470

Merit: 655

Quote from: TheWolf666 on August 10, 2018, 06:33:27 AM

Quote from: Red-Apple on August 10, 2018, 05:51:09 AM

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"?

Dopedealer

newbie

Activity: 39

Merit: 0

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.

CharlieAdoring

newbie

Activity: 36

Merit: 0

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.

TheWolf666

full member

Activity: 615

Merit: 154

CEO of Metaisland.gg and W.O.K Corp

Quote from: Red-Apple on August 10, 2018, 05:51:09 AM

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.

Red-Apple

hero member

Activity: 1470

Merit: 655

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.

Amarantcoral

newbie

Activity: 36

Merit: 0

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.

bitbunnny

legendary

Activity: 2898

Merit: 1068

WOLF.BET - Provably Fair Crypto Casino

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.

TheWolf666

full member

Activity: 615

Merit: 154

CEO of Metaisland.gg and W.O.K Corp

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?

Topic: Bitcoin impracticable payment. What is the solution? - page 3. (Read 872 times)