I can't use bitcoin buying a coffee now. - page 3.

Wapinter

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Quote from: kvlolo on April 11, 2017, 09:17:17 AM

I used to buy a coffee from time to time with bitcoin.
But I can't use bitcoin buying a coffee now, because the fee is so high, if I keep 0.0001 fee like before, it would take days for the transaction to get confirmed, I've got a transaction which took 11 days to get the 1st confirmation last month.
It's not cost-effective any more to buy (I mean both online and buying face to face) thing via bitcoin. And this is why I quit buy coffee with bitcoin.

If I were you,I wouldn't waste my btc on buying a cup of tea.Who knows this cup of coffee will cost me thousands of dollar in future like the 10,000 btc.
Use bitcoin for bigger transaction or better hold it.

BitHodler

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Quote from: Windpower on April 13, 2017, 05:03:45 AM

You are just lucky to have a store that accepts Bitcoin near you. If you really love Bitcoin, you wouldn't mind spending an extra 50 cents for fees to buy your daily coffee. Also, you could always use a Bitcoin debit card as most don't charge fees other than the fee you have to pay to send Bitcoin to a deposit address. However, you shouldn't keep your funds in their websites for long as they charge monthly fees of like 1 or 2 dollars, which is just a waste.

I am a Bitcoin freak aka fan, and I am not that much excited about spending my coins. I just spend that what is convenient, which at this point still is fiat. No point into using something else.

Another thing, if you make use of a Bitcoin related debit card, you are just spending fiat. The service that provides you with that card just converts your coins to fiat according to the latest exchange rate.

Tyrantt

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pyes, fees and confirmations are the biggest problems for small payments, thats why ive asked if there can be implemented like a market blockchain software that will store all transactions and fees in a separate blockchain and later on sync in with the main one. that would eliminate the confirmation time for the fast purchases and payments.

Windpower

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You are just lucky to have a store that accepts Bitcoin near you. If you really love Bitcoin, you wouldn't mind spending an extra 50 cents for fees to buy your daily coffee. Also, you could always use a Bitcoin debit card as most don't charge fees other than the fee you have to pay to send Bitcoin to a deposit address. However, you shouldn't keep your funds in their websites for long as they charge monthly fees of like 1 or 2 dollars, which is just a waste.

aoluain

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Over on this thread about whether Bitcoin should get segwit if Litecoin gets it https://bitcointalksearch.org/topic/if-ltc-succesfully-implements-segwit-will-and-should-btc-follow-1867541
there are a few who recon bitcoin will not get the activation as the quote from that thread below reads.

Bitcoin Confirmation times and Fees are definitely killing small transactions or sure
Will vendors ever accept other coins as mentioned above Doge, Litecoin etc?

Quote from: iamnotback on April 13, 2017, 03:16:22 AM

Lightning Networks off chain transactions are analogous to garbage collection (GC) in programming, in the sense that there will be huge unpredictable spikes in transaction settlement load on the main chain, which will cause the main chain to be unresponsive to other needs during such "hiccups", similar to how your computer pauses if you have too many browser tabs open too long, while the GC mark-and-sweep algorithm attempts to free up memory.

For this reason (and others), LN and SegWit will never get activated on Bitcoin. Bitcoin was designed by the global elite for settlement between $billionaires. They want it to be as reliable as possible. So there is absolutely no way the elite are going to allow anyone to fork Bitcoin. Fugetaboutit.

Litecoin is being prepared to be the scaling coin. Bitcoin will remain the power broker settlement coin.

And nobody can change this outcome. A year from now, all dumbasses will once again realize I am always correct.

Quote from: iamnotback on April 13, 2017, 03:04:32 AM

Quote from: Dorky on April 13, 2017, 02:54:26 AM

Quote from: iamnotback on April 12, 2017, 03:00:50 PM

Remember Bitcoin is made by the elite for the elite.

Just an opinion... I believe bitcoin was made by the elite for the digital tracking of the sheeps.

I believe the money of the shadow elites is gold, and they are hoarding over 90% of it in subterranean safes.

The elites are most proficient in persuading us in exchanging fake wealth for real wealth.

It started with paper claim/paper money for gold.

Soon it will be digital money for gold.

You won't be able to transact in BTC on chain. I explained that to you before.

There will be digital currencies and they will be regulated like 666, and you won't be able to transact on chain in Bitcoin which won't be regulated.

Satoshi designed it this way and even @dinofelis admits he did, but somehow @dinofelis can't see that such a design forces the masses off chain into the totalitarianism of 666 regulated currencies.

stompix

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Quote from: erickkyut on April 13, 2017, 03:56:37 AM

Oh c'mon dude! Just because of the transaction fees you cannot buy coffee? Even there is an increase in the transaction fees they are still low and will only cost you a few penny. Why blame the transaction fees? It is there to help the wallet provider to survive.

It has already been discussed , the fees can go up to 40-50 cents for a transactions.

This might not be much for a Starbucks coffee at 4$, but it is still a damn 10-12% fee.
If your bank would be charging this for every transactions i doubt you would keep that card in one piece.

And if we go to other countries where a coffee is 1-2$ the fee is close to 50%.
Really|?
Tell me you're ok with paying this extra.
And the vendor is happy to sell it knowing he will also have to pay a few cents in transactions to get all this dust.

Quote from: olushakes on April 13, 2017, 04:22:07 AM

Bro, the issue is not affecting only you but equally quite a number of people around here and the way around it is just to gather as much as you will be needing then convert to Fiat at once by that you save the Transaction fees of intermittent withdrawal then you can buy as many cups of coffee your money can afford and when you exhaust that, you start the cycle all over again.

so the solution is to use fiat not bitcoin ?

olushakes

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Quote from: kvlolo on April 11, 2017, 09:17:17 AM

I used to buy a coffee from time to time with bitcoin.
But I can't use bitcoin buying a coffee now, because the fee is so high, if I keep 0.0001 fee like before, it would take days for the transaction to get confirmed, I've got a transaction which took 11 days to get the 1st confirmation last month.
It's not cost-effective any more to buy (I mean both online and buying face to face) thing via bitcoin. And this is why I quit buy coffee with bitcoin.

Bro, the issue is not affecting only you but equally quite a number of people around here and the way around it is just to gather as much as you will be needing then convert to Fiat at once by that you save the Transaction fees of intermittent withdrawal then you can buy as many cups of coffee your money can afford and when you exhaust that, you start the cycle all over again.

Creepings

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Quote from: erickkyut on April 13, 2017, 03:56:37 AM

Oh c'mon dude! Just because of the transaction fees you cannot buy coffee? Even there is an increase in the transaction fees they are still low and will only cost you a few penny. Why blame the transaction fees? It is there to help the wallet provider to survive.

That is the problem here, the transaction fees. I am buying myself a coffee and I will pay for it using bitcoins, but the fees needs to be a considerable one so it will be confirmed quickly. The scenario is, you will be paying a coffee but your fee is greater than the payment for the coffee, isn't that ridiculous? Better to pay fiat than bitcoin if the price of the item is reall low.

erickkyut

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Oh c'mon dude! Just because of the transaction fees you cannot buy coffee? Even there is an increase in the transaction fees they are still low and will only cost you a few penny. Why blame the transaction fees? It is there to help the wallet provider to survive.

carlfebz2

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Quote from: kvlolo on April 11, 2017, 09:17:17 AM

I used to buy a coffee from time to time with bitcoin.
But I can't use bitcoin buying a coffee now, because the fee is so high, if I keep 0.0001 fee like before, it would take days for the transaction to get confirmed, I've got a transaction which took 11 days to get the 1st confirmation last month.
It's not cost-effective any more to buy (I mean both online and buying face to face) thing via bitcoin. And this is why I quit buy coffee with bitcoin.

If that's the case then its not really ideal to use bitcoin on buying coffee since the fee would really add up on the cost of coffee and in fact we could able to use our local fiat on this time and pass with bitcoin.Lucky for you that you can able to buy coffee with your bitcoin and there are already shops accepts bitcoin.Better to keep first your bitcoin than actively spend it on small things.

batang_bitcoin

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Quote from: kvlolo on April 11, 2017, 09:17:17 AM

I used to buy a coffee from time to time with bitcoin.
But I can't use bitcoin buying a coffee now, because the fee is so high, if I keep 0.0001 fee like before, it would take days for the transaction to get confirmed, I've got a transaction which took 11 days to get the 1st confirmation last month.
It's not cost-effective any more to buy (I mean both online and buying face to face) thing via bitcoin. And this is why I quit buy coffee with bitcoin.

Just because of the fee you are going to stop your hobby of buying a coffee? It's very simple, forget about the confirmation and just because you consider it so high? Don't sacrifice your hobby because of the fee. Just adjust and simply pay the right fee for the confirmation and also use the transaction accelerator which is popular now.

SvenBomvolen

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Well I would also stay away from buying things for bitcoins in the case of high fees, in this case it would be more profitable just to cash out bitcoins on my card and pay some few fees to an exchanger and that's it. Why payment directly with bitcoins is so grabbing? I think to make it more popular and to attrect new bitcoin users and to help bitcoin to spread over the world fees should be minimal as possible. I understand that the companies who installed that kind of payment just wish to bring their investitions back as fast as possible and become rich, but such strategy doesn't help bitcoin and many bitcoin users will prefer to use old methods such as echangers to pay with bitcoins for their stuff.

arransiv

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Well,before the transactions were about 10 mins and the only thing you had to do is wait,now with the increased taxes it's not even profitable to buy low-priced items.I don't know how we can get around this,if you pay a smaller tax then the confirmation time will spike and you probably won't be even allowed to pay with BTC.The only solution available is if you can pay for example for 6 coffees like a subscription at once and then each day you just get your order and don't pay each time

Theb

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Because it is not meant to be used in your daily transactions much more if you are thinking that it should be used in a line system or a Queue. I have a better alternative for you why don't you just convert your Bitcoin to Fiat so that you are not having this kind of problems. Problems that are not suppose to be posted in the first place. We always have a simple solution for that we should use it.

Janation

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This is the readon why there are a lot of solutions that the known economists formulated but did not worked out, one of them is BitcoinUnlimited. Everytime I read these kind of articles about bitcoin having a long time of confirming, I am always thinking about how will Japan use these digital currency effeciently if the transaction of bitcoin is really slow. Then I guess there will be 3 lines in every store in Japan, one for the line who will buy, the exit line, and the waiting for the confirmation line.

DoublerHunter

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Quote from: mylabs01 on April 12, 2017, 10:55:53 PM

Quote from: kvlolo on April 11, 2017, 09:17:17 AM

I used to buy a coffee from time to time with bitcoin.
But I can't use bitcoin buying a coffee now, because the fee is so high, if I keep 0.0001 fee like before, it would take days for the transaction to get confirmed, I've got a transaction which took 11 days to get the 1st confirmation last month.
It's not cost-effective any more to buy (I mean both online and buying face to face) thing via bitcoin. And this is why I quit buy coffee with bitcoin.

this is the common problem bitcoiners is facing now, it needs time before the confirmation. my advise is maybe you can add more and make your fee a little bit higher compared to what you have used to. this is the best and easy solution we can do.

Yes, add more fees for your transaction to be able to have a faster confirmation because most of the days now the confirmation takes longer because of the growth of the volume of the bitcoin users and the network can't manage to handle that without the help of the miners. If you pay more fees then you will be on the top priority of the miners and you will be able to transfer your bitcoin successfully in a short period of time.

mylabs01

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Quote from: kvlolo on April 11, 2017, 09:17:17 AM

I used to buy a coffee from time to time with bitcoin.
But I can't use bitcoin buying a coffee now, because the fee is so high, if I keep 0.0001 fee like before, it would take days for the transaction to get confirmed, I've got a transaction which took 11 days to get the 1st confirmation last month.
It's not cost-effective any more to buy (I mean both online and buying face to face) thing via bitcoin. And this is why I quit buy coffee with bitcoin.

this is the common problem bitcoiners is facing now, it needs time before the confirmation. my advise is maybe you can add more and make your fee a little bit higher compared to what you have used to. this is the best and easy solution we can do.

MWesterweele

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Quote from: kvlolo on April 11, 2017, 09:17:17 AM

I used to buy a coffee from time to time with bitcoin.
But I can't use bitcoin buying a coffee now, because the fee is so high, if I keep 0.0001 fee like before, it would take days for the transaction to get confirmed, I've got a transaction which took 11 days to get the 1st confirmation last month.
It's not cost-effective any more to buy (I mean both online and buying face to face) thing via bitcoin. And this is why I quit buy coffee with bitcoin.

Thats the part of bitcoin needed to be change and improve. We mine bitcoins to provide our needs so therefore we should get our earnings as fast as it can. Transaction fee getting bigger as fast as the growing value of bitcoin.

Sniper44

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Quote from: magneto on April 12, 2017, 07:20:08 PM

Quote from: kvlolo on April 11, 2017, 09:17:17 AM

I used to buy a coffee from time to time with bitcoin.
But I can't use bitcoin buying a coffee now, because the fee is so high, if I keep 0.0001 fee like before, it would take days for the transaction to get confirmed, I've got a transaction which took 11 days to get the 1st confirmation last month.
It's not cost-effective any more to buy (I mean both online and buying face to face) thing via bitcoin. And this is why I quit buy coffee with bitcoin.

That is so true.

However this presents an opportunity for all the altcoins to make a better solution than bitcoin with the micropayments.

I think bitcoin is originally designed for overseas payments more than face to face payments. For face to face payments, you've still got fiat currency, but you cannot send fiat overseas without incurring a heck of a fee.

Hopefully the fees will come down in due time, right now the fee is so high, combined with the high price of bitcoin, making it unacceptable.

that is true but current available altcoins are not capable of doing that because for everything that they have different than bitcoin there are 10 more downsides to it.

for example an altcoin that has a faster confirmation time (aka faster blocks generation) has lots more orphan blocks. in other words if you use bitcoin, 1 confirmation is a 99% sure thing and 3 is the suggested one for 100% sure thing for large amounts.
with that altcoin these numbers are 60 confirmation to be sure of no double spend,...

GreenBits

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Quote from: NoiseBoy on April 12, 2017, 08:09:38 PM

It'll be interesting to see what happens in Japan now that so many retail outlets there are going to begin accepting bitcoin. I wouldn't be surprised if Japanese bitcoiners start leaning very heavily in support of Core/SegWit

I can certainly wait for the congestion this is going to.cause, since we can't make up our minds over this whole scaling fiasco. I feel it's coming to a head, given the recent developments in the mining scene, but I still feel we won't have resolved the scaling thing by the time this comes into full effect, and it might make the decision for us. Also, would love to see some competition with asic design as the Japanese market gets more into mining. The Japanese make elegant devices.

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