Topic: Daily use of bitcoin? - page 27. (Read 42463 times)
Actually there are millions of transactions being done daily and hence its quite simple to guess that 90% of bitcoiners are using them to trade daily while some guys are storing btc for high price, which also is cool idea.
I'm sure technology will find it's way and bitcoin will be used to buy day to day stuff one day. Not sure how tho... we will need to wait and see
Technology might be innovated, but people mindset cannot be shifted so quickly. Many ares in different countries are not aware of Bitcoin till now, and some though knowing does not care about it. So even if technology arrives, the daily usage might not be high. I wish this changes but don't know how much time it would might take.
I'm sure technology will find it's way and bitcoin will be used to buy day to day stuff one day. Not sure how tho... we will need to wait and see
Technology might be innovated, but people mindset cannot be shifted so quickly. Many ares in different countries are not aware of Bitcoin till now, and some though knowing does not care about it. So even if technology arrives, the daily usage might not be high. I wish this changes but don't know how much time it would might take.
In today's situation many people do not know about using bitcoin. We buy things from small shops and platforms the shop keeper does not know about bitcoin. Therefore it is very difficult to use bitcoin in our daily use. But the day will come, every one use bitcoin for buying and selling.
I think that can be solved by asking the shopkeeper if Bitcoin is accepted, and if he asks what Bitcoin is then explain it. That takes a lot of time but can have results over time. The more people there'll be asking for Bitcoin, the more people will accept it as a payment and use it.
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?
Paying for things in the real world where time is of essence with bitcoin does not seems like the best idea right now, I think for those kind of transactions is better to use Litecoin simply because it is faster to get a confirmation than with bitcoin. 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?
Why would you even want to use bitcoins in routine daily shops? you just need to use bitcoin wherever and whenever it's convenient for you not to replace it with fiat.
I agree with you, because using bitcoin in our daily lives does not worth to be spend in the first place. We all know that the bitcoins price is always fluctuating, lower to higher, and higher to lower, in short, PUMP and DUMP, so let's say that you bought something for about 0.001 bitcoin and it is $.50 if it is going to be converted in fiat, then, after a day, 0.001 bitcoin just became $1, so, it doubled its last price, and you have just lost half of it, which could be your profit if you didn't spend your bitcoin
What if the price goes down instead of going up?
You obviously forget that the price may not only double but may also get halved. Apart from that, your approach is erroneous in essence. If you buy something for about 0.001 bitcoin and then Bitcoin price goes up twice, you don't lose anything since you still have what you have bought. Indeed, if the price doubles you can buy the same thing for half the price (let's assume that its price remains the same in dollar terms), but you don't buy things just for the sake of buying. Most people buy things which they actually need as well as when they need them, and if the price goes up or down soon afterwards is irrelevant to them
In today's situation many people do not know about using bitcoin. We buy things from small shops and platforms the shop keeper does not know about bitcoin. Therefore it is very difficult to use bitcoin in our daily use. But the day will come, every one use bitcoin for buying and selling.
Why would you even want to use bitcoins in routine daily shops? you just need to use bitcoin wherever and whenever it's convenient for you not to replace it with fiat.
I agree with you, because using bitcoin in our daily lives does not worth to be spend in the first place. We all know that the bitcoins price is always fluctuating, lower to higher, and higher to lower, in short, PUMP and DUMP, so let's say that you bought something for about 0.001 bitcoin and it is $.50 if it is going to be converted in fiat, then, after a day, 0.001 bitcoin just became $1, so, it doubled its last price, and you have just lost half of it, which could be your profit if you didn't spend your bitcoin.
So, that is why it is not that necessary to use bitcoin in our daily basis, just when we really need to spend it, then that is the right time for us to spend it.
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?
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?
Good question.
Right now, I am waiting for a couple more confirmations so I can pay to watch Magic Money: The Bitcoin Revolution with BTC.
Processing time is something of great discussion and perceptions will need to improve. I believe this should happen through design. For example, going from command prompt to window/mouse.
Technically, Starbucks payment processing does not begin until they "batch" the system at close. Then, when the bank opens, the money is added to their account the next day.
That is not easy until there is a clear law created by the government stating that the use of bitcoin is not illegal and supported by them. We need the exchanges here to cooperate with the government and since bitcoin is not money but just a payment processor, I guess it would only attract those who are frequently doing online transaction and those who love the technology and invest on it
In case of Bitcoin this is an impossible combination
Really, if Bitcoin is a payment system but Bitcoin itself is not money, then payments in what money does it process? For example, PayPal is a payment processor, and it processes dollar payments (maybe, payments in other currencies too, I'm not sure). Therefore, if you think that Bitcoin is a payment processor, you should necessarily consider Bitcoin as money as well since the only payments that this payment system can process are Bitcoin payments and money is what people use as a means of payment
You can't use Bitcoin like PayPal
PayPal uses dollars as a value carrier. Using the Bitcoin payment system, you can pay only with bitcoins, i.e. you can't transfer dollars or any other fiat currency through it directly. If you meant to say that the Bitcoin payment system is used for making payments like PayPal does (in general), then that's what any payment system is made for, i.e. making payments, as simple as it gets. Regarding what Bitcoin was specifically conceived for, I'm inclined to think that it was conceived exactly for that end, i.e. for being used as a medium of exchange. In other words, as a currency
Hello friends,
I think that the daily use of bit coin is increasing day by day because of its simplicity and high value. Its use is increasing because one can earn it easily and can spend it easily.....
This is all my thought and may not be true..😀😀
I think that the daily use of bit coin is increasing day by day because of its simplicity and high value. Its use is increasing because one can earn it easily and can spend it easily.....
This is all my thought and may not be true..😀😀
Well, I guess that inhibits I use bitcoin every day is not the place to use it, but, the number of bitcoin I have. Well, with the income I mmiliki this time, I have to save bitcoin I get, and will probably use it every month. so, it is very difficult to use bitcoin in small amounts every day.
I'm sure technology will find it's way and bitcoin will be used to buy day to day stuff one day. Not sure how tho... we will need to wait and see
Why would you even want to use bitcoins in routine daily shops? you just need to use bitcoin wherever and whenever it's convenient for you not to replace it with fiat.
but in most area people do not have the facility to use bitcoin as fiat in local shop. because in most area the shopkeepers do not have any idea about bitcoin therefore they are not accepting bitcoin for shopping but in future we can expect that we will become able to use bitcoin for shopping in our local shops without converting it in fiat currency. 
I heard that Starbucks already started to accept bitcoin as payment. I don't imagine how it work exactly, because of I have no place here that would accept bitcoin. But I think such transactions in place that work with bitcoin all operations provided as fast as with a card.
I think that you're thinking of foldapp which used to offer a discount when you used them to purchase starbucks. It worked by them buying discounted gift cards in bulk and then passing that savings on to Bitcoin users. I'm not sure if it is still around though, I know they had supply issues and had trouble scaling with demand.
Why would you even want to use bitcoins in routine daily shops? you just need to use bitcoin wherever and whenever it's convenient for you not to replace it with fiat.
Indeed, we can buy online things using bitcoin and it is very easy, on every real store, paying bitcoin is more complex than fiat, right?
Why would you even want to use bitcoins in routine daily shops? you just need to use bitcoin wherever and whenever it's convenient for you not to replace it with fiat.
That I totally agree. Use it whenever I want. If you want to cash it out or make it to fiat then do so. That is your own money now and nobody should block your way into using it.
Some do think it should be kept hidden until the big rise. Question is do you have to really wait if you could make a little profit out of the movements of bitcoin.
Why would you even want to use bitcoins in routine daily shops? you just need to use bitcoin wherever and whenever it's convenient for you not to replace it with fiat.
i use bitcoin daily but the problem is transaction pending confirmation
hope bitcoin make it faster for confirmation each transaction
hope bitcoin make it faster for confirmation each transaction
When it is used in real life shops like starbucks ( if times comes that they are going to accept bitcoin ) We don't have to wait for the confirmation. They too will be having a problem if they let everyone just stand in front of them waiting for the transaction to be confirmed. An automated one like those when you buy digital goods, is a good idea to use.
Actually, you don't need to wait for a confirmation if the TX fee is high enough..
With a simple check you could give out the coffee without waiting for the confirmation..
On the other side if fee is too low.. then ppl have to wait for Confirmation..
if make Bitcoin transaction easier and faster, maybe people can use it in our daily needs.
They can't make this happen. It is because the whole system is decentralized. They can't see who is spamming the system and who is not. And even if they see it, they can't ban nobody for this. When a number of people creates spam attacks on the Blockchain it gets slower and waiting times increase dramatically.
Even if there were no attacks and everything is going well, i still would prefer my MasterCard over bitcoin.
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