Daily use of bitcoin? - page 39. | Bitcointalksearch.org

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Quote from: Herbet Fry on January 19, 2017, 12:40:50 PM

Quote from: Michel de Montaigne on January 16, 2017, 05:56:32 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 as long as you add sufficient tx fee you should be fine. Credit card can cost $0.30 for a transfer so if you do the same with bitcoin it will be fast. Under 2 minutes or faster even. This shouldn't be a problem.

That's the only secret for it, just pay the miners fee and each of your transactions will be fine. Most of the complain of other bitcoiner because of confirmation delays or anything related to it, not knowing that they haven't paid that miners fee, so that's the consequence for not paying it. They will have hard time to get confirmed.

i think the minor fee should be defined so that confusion is over. A exchange much have a fixed amount of transaction fee so what when we transfer fund from one place to another we all add the fixed transaction fee also, to me i think there must be a check on the transaction fee of the different exchanges and it must be regularize, because some exchanges are charging more as compare to other exchanges.

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Quote from: FLoving on January 19, 2017, 06:11:14 PM

For some people it may be something hard if they will be in hurry but most of the people will tolerate it just like they are doing at online transactions. They wait and they do not mind to wait because they are getting some other a lot of profits too and because of one thing they will not leave a bunch of benefits.

I'd have to disagree humans always want things faster.

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Quote from: the.jack20 on January 19, 2017, 02:55:49 PM

Bitcoin is not suitable for daily shopping. It does not make much sense to pay high fee values to buy cheap products. But it may make sense to use bitcoin to purchase expensive items. For example, it would not be a problem to pay high fee values to buy a house or car. Also, we do not need to hurry to buy expensive items. We can expect the payment to be confirmed.

The bitcoin is for the sync of people around the world.
If we're thinking about our daily life and fiat already provide whatever you want. The daily use won't suitable for bitcoin, at least the bitcoin must have had a blocksize to covering all of the daily transaction.

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For some people it may be something hard if they will be in hurry but most of the people will tolerate it just like they are doing at online transactions. They wait and they do not mind to wait because they are getting some other a lot of profits too and because of one thing they will not leave a bunch of benefits.

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Quote from: hajimasan on January 19, 2017, 07:00:44 AM

It's not a daily use item for me because i have such a low amount that can't be use multi times so I use only when I gather enough amount to spend on something. But it's my daily routine to earn money through bitcoin but not too use it as daily basis.

although i have a good amount of bitcoin in my account, that i am earning from trading alt con, but still i cannot use it for my daily use, because in my area i do not have the opportunity to use bitcoin for shopping in our local shops.

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Bitcoin is not suitable for daily shopping. It does not make much sense to pay high fee values to buy cheap products. But it may make sense to use bitcoin to purchase expensive items. For example, it would not be a problem to pay high fee values to buy a house or car. Also, we do not need to hurry to buy expensive items. We can expect the payment to be confirmed.

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Quote from: Michel de Montaigne on January 16, 2017, 05:56:32 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 as long as you add sufficient tx fee you should be fine. Credit card can cost $0.30 for a transfer so if you do the same with bitcoin it will be fast. Under 2 minutes or faster even. This shouldn't be a problem.

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Quote from: SvenBomvolen on January 19, 2017, 12:26:45 PM

Quote from: emezh10 on January 17, 2017, 01:17:59 AM

Quote from: Dudeperfect on January 17, 2017, 12:59:09 AM

Quote from: SvenBomvolen on January 16, 2017, 11:23:47 PM

How many members from here have opportunity to use bitcoins in daily life? Less then 50 %, less? I`m not one of them, for now using bitcoins in daily is privilege just for some people who live in big cities or in advanced countries. Bitcoin will not come in my town any time soon, first in capitol city (and far as I know except 2 atms there isnt anything else) and after few years maybe in my town. Only good thing about it that I will have time to collect some amount before it comes.

Exactly, there is not even a single merchant in my town who accepts bitcoin at this moment so I have to convert my bitcoins in fiat in order to spend it. I don’t usually spend bitcoins daily but I usually pay my mobile, internet, DTH bills with bitcoin (fortunately I can do that with the services online). I am sure this picture will change in near future and we would be able spend bitcoins directly.

Here in our country we can use bitcoin to buy stuff, Load, Hotel rent and game credits. We have application called coins.ph where you can use and store your bitcoin. In thus application we can use our bitcoin daily for our needs. And we can cash out bitcoin into cash anytime because of that application.

This is indicator how much your country or town are more aware of bitcoin then its case with mine for example. Probably that is a good business now to start application like that coins.ph is, and who ever start that first in countries where there is not yet such service he will earn a lot of money.
Years will pass until that come here, as I sad like always first will be capitol city and only after they make something there I can expect that to be available in my place as well. Until then I will keep my coins, and I will continue to earn more.

Its a big help honestly about coins.ph here in my country i am in same place and they are added many services that you can use..
We can also use it as remitances nationally here in my country pay bills like electric bill and internet bill the other thing you can use your bitcoin to shop online everywhere like amazon but you need to use the service of vcc that you can fill your bitcoin into vcc and verified paypal that you can shop anywhere online. .

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Quote from: SvenBomvolen on January 19, 2017, 12:26:45 PM

Quote from: emezh10 on January 17, 2017, 01:17:59 AM

Quote from: Dudeperfect on January 17, 2017, 12:59:09 AM

Quote from: SvenBomvolen on January 16, 2017, 11:23:47 PM

How many members from here have opportunity to use bitcoins in daily life? Less then 50 %, less? I`m not one of them, for now using bitcoins in daily is privilege just for some people who live in big cities or in advanced countries. Bitcoin will not come in my town any time soon, first in capitol city (and far as I know except 2 atms there isnt anything else) and after few years maybe in my town. Only good thing about it that I will have time to collect some amount before it comes.

Exactly, there is not even a single merchant in my town who accepts bitcoin at this moment so I have to convert my bitcoins in fiat in order to spend it. I don’t usually spend bitcoins daily but I usually pay my mobile, internet, DTH bills with bitcoin (fortunately I can do that with the services online). I am sure this picture will change in near future and we would be able spend bitcoins directly.

Here in our country we can use bitcoin to buy stuff, Load, Hotel rent and game credits. We have application called coins.ph where you can use and store your bitcoin. In thus application we can use our bitcoin daily for our needs. And we can cash out bitcoin into cash anytime because of that application.

This is indicator how much your country or town are more aware of bitcoin then its case with mine for example. Probably that is a good business now to start application like that coins.ph is, and who ever start that first in countries where there is not yet such service he will earn a lot of money.
Years will pass until that come here, as I sad like always first will be capitol city and only after they make something there I can expect that to be available in my place as well. Until then I will keep my coins, and I will continue to earn more.

Competition would really rise specially when people found out about bitcoin and its benefits and you cant really stop that thing.Its really normal for bitcoin to start on the capital country and when the adoption is spreading it will surely reach your place in no time but for now saving up bitcoin would be the best move.Confirmation doesnt really an issue at all since transactions are irreversible.

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Quote from: emezh10 on January 17, 2017, 01:17:59 AM

Quote from: Dudeperfect on January 17, 2017, 12:59:09 AM

Quote from: SvenBomvolen on January 16, 2017, 11:23:47 PM

How many members from here have opportunity to use bitcoins in daily life? Less then 50 %, less? I`m not one of them, for now using bitcoins in daily is privilege just for some people who live in big cities or in advanced countries. Bitcoin will not come in my town any time soon, first in capitol city (and far as I know except 2 atms there isnt anything else) and after few years maybe in my town. Only good thing about it that I will have time to collect some amount before it comes.

Exactly, there is not even a single merchant in my town who accepts bitcoin at this moment so I have to convert my bitcoins in fiat in order to spend it. I don’t usually spend bitcoins daily but I usually pay my mobile, internet, DTH bills with bitcoin (fortunately I can do that with the services online). I am sure this picture will change in near future and we would be able spend bitcoins directly.

Here in our country we can use bitcoin to buy stuff, Load, Hotel rent and game credits. We have application called coins.ph where you can use and store your bitcoin. In thus application we can use our bitcoin daily for our needs. And we can cash out bitcoin into cash anytime because of that application.

This is indicator how much your country or town are more aware of bitcoin then its case with mine for example. Probably that is a good business now to start application like that coins.ph is, and who ever start that first in countries where there is not yet such service he will earn a lot of money.
Years will pass until that come here, as I sad like always first will be capitol city and only after they make something there I can expect that to be available in my place as well. Until then I will keep my coins, and I will continue to earn more.

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Quote from: jacktheking on January 19, 2017, 07:08:27 AM

I have never make a fast and quick Bitcoin transaction like the one you given.

Personally, I think that Bitcoin transaction is not slow at all - at least for me, when purchasing online. Bitcoin transaction usually take about ten minutes. That mean for online purchase Bitcoin is a viable payment method. However for instance purchase like the one you mentioned, it is at a disadvantage - it is very slow.

A interesting mention. When I top-up my Bitcoin to my Namecheap balance, the top-up usually happen instantly. I checked Blockchain and the transaction I send not confirmed yet - not even one. I am not sure why, maybe BitPay have some sort of algorithm to see if a transaction from a specific address 'can' be valid or not. Since I am not an expert in this field, I think I shall stop here and let someone with more experience continue

I'm not an expert but I guess they are just making it more convenient for their users. Since you can't spend your balance in any way from that service if I'm not mistaken, it doesn't really matter how fast your transaction gets confirmed. If it gets confirmed in a day or two, that shouldn't be a big deal. If it gets rejected after 72 hours (or what is the transaction expire time), your balance will just get debited in the same manner as it got credited before...

Two days of waiting is not a long term while instant deposits are surely convenient for clients

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I have never make a fast and quick Bitcoin transaction like the one you given.

Personally, I think that Bitcoin transaction is not slow at all - at least for me, when purchasing online. Bitcoin transaction usually take about ten minutes. That mean for online purchase Bitcoin is a viable payment method. However for instance purchase like the one you mentioned, it is at a disadvantage - it is very slow.

A interesting mention. When I top-up my Bitcoin to my Namecheap balance, the top-up usually happen instantly. I checked Blockchain and the transaction I send not confirmed yet - not even one. I am not sure why, maybe BitPay have some sort of algorithm to see if a transaction from a specific address 'can' be valid or not. Since I am not an expert in this field, I think I shall stop here and let someone with more experience continue.

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It's not a daily use item for me because i have such a low amount that can't be use multi times so I use only when I gather enough amount to spend on something. But it's my daily routine to earn money through bitcoin but not too use it as daily basis.

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Quote from: n0ne on January 16, 2017, 06:18:45 AM

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. Other than this once after sending the receiver end gets the transacted amount under the unconfirmed transaction list. This itself helps the receiver a hope of receiving the payment.

I don't have many problems with the confirmation time. If it were something faster, the experience would indeed be more satisfying, but I think safety should come first. I also think we need to find solutions to avoid delays and, if possible, make transactions faster without compromising security, and keeping the aspects that make transactions continuing to occur in a decentralized way.

There are possibilities to make things better, such as lightning network, but there needs to be a consensus in the community to make this possible.

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Quote from: izanagi narukami on January 18, 2017, 01:12:26 PM

If you compare bitcoin with fiat, bitcoin almost need time to get confirm!
As we know when we paid with fiat or debit card, the process is instant once you paid the coffee , you got your coffee

So bitcoin only may advantage when it being use for transfer globally and/or massive amount

You are right that payment to the local shops are more faster than bitcoin but if someone will have patience and will pay with bitcoin then he will take more benefits as the shop will give the discount which it will save from banking system and the person will also not need to pay the bank fees and taxes etc.

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Quote from: Qunenin on January 19, 2017, 04:54:28 AM

Quote from: dontryjustdoit on January 18, 2017, 12:24:02 PM

The whole issue of confirmations has to be given attention if bitcoin is ever going to work like normal money. There are just no 2 ways about it.

Confirmations is not a big issue. Transactions can be confirm on single confirmation and no need to wait for 6 confirmations. also if you have live system, you can check the hash which is instantly generated and conclude the transactions. Perhaps we can get much easier and faster way in future.
One thing for sure, Bitcoin will be the next Global currency of the world.

Confirmations could be a problem at the moment except Stores use some kind of single confirmation method, I have seen single transaction confirmations being implemented by gambling sites so I don't see a reason why stores accepting Bitcoin as payment method won't implement it. Either way, When the Lightening Network (LN) is introduced, I'm sure confirmation will be an issue of the past.

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Quote from: dontryjustdoit on January 18, 2017, 12:24:02 PM

The whole issue of confirmations has to be given attention if bitcoin is ever going to work like normal money. There are just no 2 ways about it.

Confirmations is not a big issue. Transactions can be confirm on single confirmation and no need to wait for 6 confirmations. also if you have live system, you can check the hash which is instantly generated and conclude the transactions. Perhaps we can get much easier and faster way in future.
One thing for sure, Bitcoin will be the next Global currency of the world.

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Quote from: izanagi narukami on January 18, 2017, 01:12:26 PM

If you compare bitcoin with fiat, bitcoin almost need time to get confirm!
As we know when we paid with fiat or debit card, the process is instant once you paid the coffee , you got your coffee

So bitcoin only may advantage when it being use for transfer globally and/or massive amount

actually bitcoin is in its early stage and therefore it need some improvement that we can expect in future. most of the time people are complaining about the transaction period, but most of the time it happen in seconds while sometime when there is more traffic then it take some extra time. we cn hope that very soon this problem will be solved on priority basis.

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Quote from: mikehersh2 on January 18, 2017, 11:12:37 PM

Not all online purchases take approval time. For example, I purchase Steam games on my PC using bitcoin and have no approval time.

Nope, in online stores, that's not a problem, they don't wait for the confirmation when you bought something in their shop...

Quote from: mikehersh2 on January 18, 2017, 11:12:37 PM

But in in real life purchases, yes I could see how that is an issue.

Nope, that's not going to be a problem if what they will implement is the same as what was done in online shops, it's going to be fast, but if they are into waiting confirmation, then that's going to be a problem, both the merchant and the buyer will waste time waiting for the confirmation...

Quote from: mikehersh2 on January 18, 2017, 11:12:37 PM

Over time, once bitcoin is more mainstream, I could see the delay going away.

Actually, what I think when bitcoin becomes mainstream and being used by many, there will be a lot of delays in confirmation since the network will be loaded with transactions... I do believe that the best solution to that is to use the bot that is used in online shops for faster transactions...

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Not all online purchases take approval time. For example, I purchase Steam games on my PC using bitcoin and have no approval time. But in in real life purchases, yes I could see how that is an issue. Over time, once bitcoin is more mainstream, I could see the delay going away.

Topic: Daily use of bitcoin? - page 39. (Read 42432 times)