Daily use of bitcoin? - page 23. | Bitcointalksearch.org

shine1123

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Quote from: Michel de Montaigne on January 16, 2017, 04:56:32 AM

Hi friends,

As far as I know, bitcoin payments take a little time to approve. Will these approval times make it difficult to use bitcoin in our daily lives?
For example, I would get a coffee from Starbucks. Do I have to wait for approval to pay for what I have done for hours?

Well, you are right about that. You need to wait until the confirmation to get your things, but i'm sure someday bitcoin can make it more faster about the transaction. Actually it's the biggest issue though for using bitcoin as the payment in real life.

Tyrantt

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Need some spare btc for a new PC

Could maybe a pre-blockchain part be implemented? Like a system that accepts payments, transactions, in seconds and when then later on it syncs with the blockchain and confirmations? Like a storage of transactions where all are stored before sent out.

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Quote from: klf on February 25, 2017, 08:35:43 PM

Quote from: Pab on February 25, 2017, 02:10:58 PM

Here i have only one restaurant accepting btc,nobody use btc to pay even restaurant owners and menagment dont know how to use it,still best option is exchange and pay with fiat,i think it will not change soon

Bitcoin confirmation is the main issue as of now. Sometimes they literally take few hours. Some of the businesses ask to use particular wallets for faster confirmation. Last time Fiverr was asking to use coinbase wallet for faster confirmation but not they stopped accepting bitcoins to buy gigs. As you said, the best option is to convert it into fiat first then use it for daily use.

Converting to fiat and using is the best way to use it for daily needs. Particularly now most of the bitcoin wallets has got the same confirmation time. Most of the transactions have been taking a minimum of one day to get confirmed. Fiverr is the one that needs a faster confirmation for the gigs and continued freelance earning.

klf

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Quote from: Pab on February 25, 2017, 02:10:58 PM

Here i have only one restaurant accepting btc,nobody use btc to pay even restaurant owners and menagment dont know how to use it,still best option is exchange and pay with fiat,i think it will not change soon

Bitcoin confirmation is the main issue as of now. Sometimes they literally take few hours. Some of the businesses ask to use particular wallets for faster confirmation. Last time Fiverr was asking to use coinbase wallet for faster confirmation but not they stopped accepting bitcoins to buy gigs. As you said, the best option is to convert it into fiat first then use it for daily use.

BeGoods

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Quote from: phr0stbyt3 on February 24, 2017, 12:11:31 PM

At the time I'm posting this using bitcoins for daily use can be a really big disaster as confirmation from past few days it taking more than 2 hours and also in my country there aren't any stores which accept bitcoin so I'll just save it in my wallet for now.

Lol yeah that was the problem this time where use fee that's going to require a very long time to confirm? so I do not every day use bitcoin transactions. maybe a couple of weeks to top up mobile phones

richardsNY

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Quote from: Creepings on February 25, 2017, 03:35:05 PM

Quote from: Mbah Tyo on February 25, 2017, 12:21:13 PM

seems in payments by bitccoin, need not be left waiting for approval used to be that having the store will have the easiest way so that everyone can enjoy how easy it is to use bitcoin in their daily lives

there is no need to wait when we are are paying using bitcoins. All you need to do is scan a QR code and just send it, it is easy, it is been using by many people and is been an efficient way for them paying things. There are even waffle stands that accept bitcoin.

Most merchants use a service such as BitPay to handle everything. In cases of amounts up to $20-$30 BitPay will accept it instantly if there is a proper fee included. It prioritizes all incoming transactions based on their satoshi/byte ratio. If a low fee is included, and thus the chances of a double spend attack are realistic, it will force you to wait for at least one confirmation.

Quote from: zidanw on February 25, 2017, 06:53:18 PM

Quote from: Michel de Montaigne on January 16, 2017, 04:56:32 AM

Hi friends,

As far as I know, bitcoin payments take a little time to approve. Will these approval times make it difficult to use bitcoin in our daily lives?
For example, I would get a coffee from Starbucks. Do I have to wait for approval to pay for what I have done for hours?

I don't know how to payment but if they use instant deposit on sites like gambling you don't have to wait for confirmation of the transaction but for the convenience it should wait for confirmation

You can't compare gambling with buying something from a physical store. Depending on the site of course, you can play instantly on gambling sites when you make a deposit, but they will require you to have at least one confirmation at the time you plan to cash out. No confirmations, no cashout. It's that simple.

zidanw

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Quote from: Michel de Montaigne on January 16, 2017, 04:56:32 AM

Hi friends,

As far as I know, bitcoin payments take a little time to approve. Will these approval times make it difficult to use bitcoin in our daily lives?
For example, I would get a coffee from Starbucks. Do I have to wait for approval to pay for what I have done for hours?

I don't know how to payment but if they use instant deposit on sites like gambling you don't have to wait for confirmation of the transaction but for the convenience it should wait for confirmation

Creepings

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Quote from: Mbah Tyo on February 25, 2017, 12:21:13 PM

seems in payments by bitccoin, need not be left waiting for approval used to be that having the store will have the easiest way so that everyone can enjoy how easy it is to use bitcoin in their daily lives

there is no need to wait when we are are paying using bitcoins. All you need to do is scan a QR code and just send it, it is easy, it is been using by many people and is been an efficient way for them paying things. There are even waffle stands that accept bitcoin.

JasonXG

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They will probably use 0 confirmation transactions. It will ebentually go through I dont see the problem here. You can't do I le spend or cancel it. Bitcoin is permanent. Many places accept 0 confirmation deposits including ga!bling sites. These people that claim you can reverse or double spend and cancel it and somehow rip the casino off by not letting it go through if you lose is a load of crap. There is no proof of such ludacris rubbish stories.

Pab

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Here i have only one restaurant accepting btc,nobody use btc to pay even restaurant owners and menagment dont know how to use it,still best option is exchange and pay with fiat,i think it will not change soon

bitbob82

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Quote from: MoneyIsDebt on February 24, 2017, 01:39:04 PM

Quote from: phr0stbyt3 on February 24, 2017, 12:11:31 PM

At the time I'm posting this using s for daily use can be a really big disaster as confirmation from past few days it taking more than 2 hours and also in my country there aren't any stores which accept so I'll just save it in my wallet for now.

i think not in only your country all developing countries in the world don't have relevant stores to accept bitcoin or any online store or brand is accepting it. so the main use of bitcoin for us is to use it for investment purpose or to earn it from different source. so, in order to use it as a daily purpose it is hard to use.

in fact bitcoin is still very new. and i think it still require a good time to become more stable and popular that all the stores start using bitcoin and it can only possibility when majority of people will start using bitcoin and the storekeepers become motivated to start accepting bitcoin in their stores.

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Quote from: phr0stbyt3 on February 24, 2017, 12:11:31 PM

At the time I'm posting this using bitcoins for daily use can be a really big disaster as confirmation from past few days it taking more than 2 hours and also in my country there aren't any stores which accept bitcoin so I'll just save it in my wallet for now.

well if you include a decent fee to your transaction then you would surely have no trouble with that no matter how long other transactions take or how full the blocks are, of course it would be more expensive but you can still use it daily easily, though the real problem is that there is still no facilities to use bitcoin on all the time, in my opinion it will be possible only like a few years from now on. Also i would not want to use my bitcoins just right now because the price might be growing up a lot thus I don't want to lose an opportunity to make some good profit.

GreenBits

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I have a Shift card, courtesy of Coinbase. I essentially use coinbase as a zero fee free checking account. I had a Wells Fargo account nt for a great deal of time, but ultimately found that the "hidden" fees are such that it's actually cheaper to use local check cashing businesses in my area rather than a corporate bank. Credit unions are pretty good, but quite honestly, if you are banking in America, you'd be better off with a bitcoin wallet and card combination. You will save mucho dinero. Try it for a month. I haven't spent an electronic USD in about 3 or 4 years. Well, on consumer products, my portfolio unfortunately requires the almighty dollar.

Gaaara

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Quote from: Michel de Montaigne on January 16, 2017, 04:56:32 AM

Hi friends,

As far as I know, bitcoin payments take a little time to approve. Will these approval times make it difficult to use bitcoin in our daily lives?
For example, I would get a coffee from Starbucks. Do I have to wait for approval to pay for what I have done for hours?

I think it will be complicated to use it for daily transaction directly because you know like as they say the confirmation takes time. What my friend and I does is exchanging bitcoins for our standard currency, so still we are using bitcoins for our daily life.

Mbah Tyo

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1st of May

seems in payments by bitccoin, need not be left waiting for approval used to be that having the store will have the easiest way so that everyone can enjoy how easy it is to use bitcoin in their daily lives

South Park

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Quote from: Ewinsane on February 24, 2017, 02:30:13 PM

Quote from: PeRo on February 23, 2017, 01:58:02 PM

I do not know why everyone thinks that Bitcoint transactions are very slow, I am using Bitcoin every few days and I do not wait much for the transaction to get confirmed. You just need to put a 'big' fee and it will be done in less than half an hour. And big isn't really big - you're just buying a coffee.

i thing many people want to spread negative news about bitcoin because they saying that bitcoin bitcoin transaction is slow i also see that many people discussing that bitcoin transaction is slow but i do not believe it because bitcoin transaction is faster for me and i also do not wait for the transaction to get confirmed .

Be careful transactions are instant but getting a confirmation can take a while if you accept a transaction as valid without a confirmation you are risking the other party in the transaction doubles spend his coins and if at that moment you already sent a product or something it is very unlikely you are going to get your payment.

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Quote from: diegz on January 18, 2017, 09:56:35 PM

Quote from: bitloud on January 18, 2017, 09:52:31 PM

I don't think there is a need to wait for the confirmation, if a fee recommended or little above is paid you'll get faster confirmations. Hopefully in the future this kind of things can be reduce, if the transaction speed being increase i am sure many store will start to adapt bitcoin and more user will be happy to used bitcoin.

Confirmation in transaction is not a problem anymore, just take a look at how we bought digital goods. As soon as we send the amount to the address provided by the site, it immediately mark our transaction paid after a few seconds. If that's what the stores in real life will use, then transaction confirmation won't be a problem.

But if we will use the traditional confirmation waiting, then that will really slow down the transactions in the stores or if you want it fast then you pay high transaction fee.

Yes , transactions confirmation is not actually a problem anymore especially when you use an application appropriate for your transaction. Here in my country we have an application called coin.ph , in this you can use the most out of bitcoin. You can paybills , buyload or even convert to money on other transaction you have. It's a wallet too at the same time so you could actually save lot of bitcoin while using it at the same time.

Ewinsane

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Quote from: PeRo on February 23, 2017, 01:58:02 PM

I do not know why everyone thinks that Bitcoint transactions are very slow, I am using Bitcoin every few days and I do not wait much for the transaction to get confirmed. You just need to put a 'big' fee and it will be done in less than half an hour. And big isn't really big - you're just buying a coffee.

i thing many people want to spread negative news about bitcoin because they saying that bitcoin bitcoin transaction is slow i also see that many people discussing that bitcoin transaction is slow but i do not believe it because bitcoin transaction is faster for me and i also do not wait for the transaction to get confirmed .

MoneyIsDebt

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Quote from: phr0stbyt3 on February 24, 2017, 12:11:31 PM

At the time I'm posting this using s for daily use can be a really big disaster as confirmation from past few days it taking more than 2 hours and also in my country there aren't any stores which accept so I'll just save it in my wallet for now.

i think not in only your country all developing countries in the world don't have relevant stores to accept bitcoin or any online store or brand is accepting it. so the main use of bitcoin for us is to use it for investment purpose or to earn it from different source. so, in order to use it as a daily purpose it is hard to use.

avikz

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Truly it will create a problem to use bitcoin in our daily lives. As per the current status, it takes around 30 minutes for a bitcoin transaction to get confirmed from the network. So it won't work on a fast paced environment. Prefer cash for that.

However, if you want to become rich in future, don't use bitcoin to purchase anything in your daily life. Instead save your bitcoins in a safe wallet for few years and try to accumulate more if possible. Then only you will come to know the actual power of bitcoin. It has a huge upside potential and can fetch you a much higher return than any conventional investment. SO invest in bitcoin instead of spending it.

Topic: Daily use of bitcoin? - page 23. (Read 42450 times)