Daily use of bitcoin? - page 43. | Bitcointalksearch.org

andrei56

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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?

Bitcoin right now is not very convenient for things that require confirmation in seconds or minutes but it is great for things you can wait 20 to 30 minutes, like buying something online.

meemiinii

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yes. i heard it too.. i guess all you have to use is the ipayyou app. ahm, anyway.. i dont think you have to wait for it to be processed or wait foe total confirmation. i guess even just 1 confirmation will do.. another thing is that, for me, mybe its a bit struggle if we will use bitcpin in our daily lives. mybe just a little more innovation for faster transaction will do or enough in order for us to fully use bitcoins in our daily lives.

traderethereum

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Quote from: Gembul on January 16, 2017, 08:01:24 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 guess it was not a problem, I also had to buy credits. Though still in the 0 confirmation but was immediately sent to my number. Similarly with Starbuck I guess. But with the record we have to make the transaction with a reasonable fee. Thank you

its good for you because although there is 0 confirmation, the credits is sent to your number so you can use the credits to buy coffee. i think while there is 0 confirmation, the transaction soon will be completed and we don't need to worried for this, maybe need hours to complete but the amount is still arrive in the wallets.

cryptothinker

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Quote from: markyminer on January 16, 2017, 04:30:34 PM

Quote from: virasog on January 16, 2017, 11:42:12 AM

Quote from: bitbunnny on January 16, 2017, 09:31:28 AM

Transaction time and confirmations are one of the reasons why some merchants are still reluctant to accept Bitcoins, even if it takes only one confirmation.
But you can use Bitcoin debit card, you avoid transactions confirmation and have the full benefit of spending Bitcoins.

Yes, I agree but then, bitcoin totally one of the safest money paying method even in time vary for some delay yet, the security of users remain unlike those atms. Blockchain provide quite a good security unless someone tries to double spend.

yes no doubt about this but the conformation period some time produce problems. because some time you wait for the conformation but it takes hours, so if we want the smooth use of bitcoin on daily basis we need to solve the transaction period timing.

Yeah, that's a serious problem. There are several proposals to solve this, such as segwit, flextrans, bigger blocks... but so far there is no consensus in the community regarding the best solution. This is probably one of the problems that is bringing insecurity to the users and preventing Bitcoin from rising in value.

Gembul

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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 guess it was not a problem, I also had to buy credits. Though still in the 0 confirmation but was immediately sent to my number. Similarly with Starbuck I guess. But with the record we have to make the transaction with a reasonable fee. Thank you

puremage111

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tbh the 15min block time takes quite long for confirmation unlike eth where ghost protocol uses only few seconds.

Perhaps if theres something which made precisely for an industry, lets say Starbuck coins.
Where the blockchain platform uses have a block transaction time <5 second?

Bitcoin could always use for something else xd

gilangIDR

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Now some merchants have received many bitcoin as a payment medium finances. even in some of our country very easily find stores that accept bitcoin.

traderMax

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Even though bitcoin is not suitable for everyday use, it is very attractive for trading operations. Bitcoin prices have a very wavy structure. If we can use these price fluctuations wisely, we can make money. But we have to wait a little longer for daily use.

Zeatorius

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I'd personally like to see more interaction between large retailers and bitcoin currency so bitcoin can become more known to the public. I think eventually we'll start seeing mainstream adoption and that will boost all crypto-currencies value quite a lot.

fikihafana

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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?

Some people said you need to add more transcation fee, so confirmation more faster than usual. But i still doubt about it

vennali

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Quote from: markyminer on January 16, 2017, 04:30:34 PM

Quote from: virasog on January 16, 2017, 11:42:12 AM

Quote from: bitbunnny on January 16, 2017, 09:31:28 AM

Transaction time and confirmations are one of the reasons why some merchants are still reluctant to accept Bitcoins, even if it takes only one confirmation.
But you can use Bitcoin debit card, you avoid transactions confirmation and have the full benefit of spending Bitcoins.

Yes, I agree but then, bitcoin totally one of the safest money paying method even in time vary for some delay yet, the security of users remain unlike those atms. Blockchain provide quite a good security unless someone tries to double spend.

yes no doubt about this but the conformation period some time produce problems. because some time you wait for the conformation but it takes hours, so if we want the smooth use of bitcoin on daily basis we need to solve the transaction period timing.

I think the timing has gotten a lil better now. Sometimes in the past it used to take sometimes hours and the unconfirmed blocks used to pile up one after the other. Now it has been a lil more efficient and depending on the fees a lot more consistent timings. If some mainstream gets into BTC and makes an app which has unchangeable moderately high fees. Then I guess shopkeepers would be more interested in BTC in general. They can see that the money has been sent on the blockchain anyways.

Superways

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If you will go to the shop and will pay in front of the shop keeper then he will know that how much fees you have added and then he will give you the good without any waiting as he will know that the transaction will not cancel.

markyminer

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Quote from: virasog on January 16, 2017, 11:42:12 AM

Quote from: bitbunnny on January 16, 2017, 09:31:28 AM

Transaction time and confirmations are one of the reasons why some merchants are still reluctant to accept Bitcoins, even if it takes only one confirmation.
But you can use Bitcoin debit card, you avoid transactions confirmation and have the full benefit of spending Bitcoins.

Yes, I agree but then, bitcoin totally one of the safest money paying method even in time vary for some delay yet, the security of users remain unlike those atms. Blockchain provide quite a good security unless someone tries to double spend.

yes no doubt about this but the conformation period some time produce problems. because some time you wait for the conformation but it takes hours, so if we want the smooth use of bitcoin on daily basis we need to solve the transaction period timing.

tech_solutions

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I cannot use for daily use of bitcoins as in my country still their is no shop which accepts bitcoins and it is costly to shop online as shipping charges are high, so i convert it to fiat currency to use it

Ewinsane

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My daily use of bitcoin for online shopping which stuff we use in daily life i can buy easily through bitcoin and some bitcoin i use for trading and i get a good profit from bitcoin.

Sahyadri

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Tough BTC is not as convenient for small over the counter purchases like a coffee it is highly convenient for sending value of money overseas or shopping online, sending value of money to friends and family or to businesses.

uneng

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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?

You will have to wait the first confirmation. It can take some time to complete, depending the day, the moment you made the transaction. it's an issue when using bitcoin on our daily life, it will have a negative effect on the use of bitcoins as currency.
But the technology is always upgradeable and it will happen with blockchain, we are in the beginning of bitcoin age, in the future transactions will be more instantly and you won't have to wait.

deisik

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Quote from: TheWallStreetCrew on January 16, 2017, 01:52:10 PM

valid reason for a fork to make shorter

This is not a valid reason at all

First of all, you won't be able to get instantaneous confirmations, no matter how hard you try. Further, there is no need in such confirmations altogether. When you pay with your debit or credit card, payments are finally settled only in a few days, but you still can pay with these cards instantly without waiting for any confirmations. I guess the same can be done with Bitcoin too, for example, by using established Bitcoin payment processors (these are web wallets right now). But this all comes down to adoption. Visa and Co are known and trusted throughout the world

TheWallStreetCrew

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valid reason for a fork to make shorter

klf

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Quote from: deisik on January 16, 2017, 12:03:10 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'd rather say using Bitcoin will be very clumsy for such ends

But you should first ask yourself why you would want to pay with Bitcoin for a cup of coffee (or tea). There is already fiat (cash) for that, and it will serve this purpose better. Since Bitcoin is rightfully considered better money than fiat while bad money always drives good money out of circulations, you will be just wasting good money on trivial things. Nevertheless, if you still want to spend your precious bitcoins this way, order a Bitcoin payment card and get done with that

Yup in several countries these facilities are there you can order card and use it for your personal use. But I don't know in my country we can use this card or not. Because I never saw any person that use bitcoin card in ATM. And in my country, there are other digital wallets are arrived people are using those wallets to pay bills in shoppes, and all shoppes are accepting it. So I think no one shoppes will accept bitcoin if it takes too much time to approve the payment.

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