I can't use bitcoin buying a coffee now. - page 4.

hello_good_sir

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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.

Bitcoin was definitely not designed in the first place to pay for f2f transactions.

I think that what most people would agree with me is that bitcoin was originally designed as a payment network over the internet allowing people access to banking without a bank account, and people are also able to send money overseas without incurring any charges.

But I think if bitcoin is able to accomodate for f2f transactions as well, that would be awesome.

And right now, the transaction fees are way too high even for me who usually doesn't give a damn. It's basically a dollar on average now, compared to a few cents that you had to pay a few years back.

And when a coffee is only costing you like $3 or $4 max and you have to pay $1 extra on top just to use bitcoin? No tahnks.

NoiseBoy

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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

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And here is another good thread â€“ talking about a real problem that we should take care of because it scares people away from bitcoin â€“ killed by signature spammers. Sigh...

magneto

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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.

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.

LuanX3

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Quote from: BrewMaster on April 12, 2017, 11:19:20 AM

Quote from: stompix on April 12, 2017, 10:51:49 AM

Pure curiosity

How much is the "normal" or "recommended" fee that would help your transaction be confirmed in the next blocks compared to the price of a coffee?
I don't know how accurate this is but it lists a fee of 62.1 cents for the next block.

according to my wallet and also the 21.co website right now because the mempool is full again the suggested fee is 180 satoshi/byte which means a normal user pays about 40K satoshi for a normal transaction which is equal to 48.8 cents.

and this suggested fee is if you want a fast confirmation within the next block.

Quote from: Slark on April 12, 2017, 11:18:00 AM

Quote from: BrewMaster on April 12, 2017, 10:42:44 AM

but people spending bitcoin on them on a daily basis is the bluff of OP.
yeah you may even buy a cup of coffee with bitcoin using your mobile wallet but that will be once or twice tops.

that is why i asked him to give us some photo 24 hours ago in the first page of this topic and so far that comment was ignored.

Op might bluff or you can also call it a figurative expression - and we gotta admit it is pretty accurate.
We will have trouble buying anything with BTC with current high fees and long confirmations, there is no denying that.

there is no denying the increased amount of fees and the over-crowded mempool.

but i just made a deposit into my exchange account, it cost me 0.0004BTC fee and it went smoothly and fast.

I also renewed my VPN subscription recently and again paid a small fee like the other tx and it also went smoothly within 10 minutes with that fee.

Basically, that is really the problem with bitcoins right now that it is actually hindering the progress of it being adopted in the real world and in real world applications such as buying coffee. Since, bitcoin transactions require confirmations then that means that we need to really wait for such before merchants will give the product to the customer.

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Quote from: stompix on April 12, 2017, 10:51:49 AM

Pure curiosity

How much is the "normal" or "recommended" fee that would help your transaction be confirmed in the next blocks compared to the price of a coffee?
I don't know how accurate this is but it lists a fee of 62.1 cents for the next block.

according to my wallet and also the 21.co website right now because the mempool is full again the suggested fee is 180 satoshi/byte which means a normal user pays about 40K satoshi for a normal transaction which is equal to 48.8 cents.

and this suggested fee is if you want a fast confirmation within the next block.

Quote from: Slark on April 12, 2017, 11:18:00 AM

Quote from: BrewMaster on April 12, 2017, 10:42:44 AM

but people spending bitcoin on them on a daily basis is the bluff of OP.
yeah you may even buy a cup of coffee with bitcoin using your mobile wallet but that will be once or twice tops.

that is why i asked him to give us some photo 24 hours ago in the first page of this topic and so far that comment was ignored.

Op might bluff or you can also call it a figurative expression - and we gotta admit it is pretty accurate.
We will have trouble buying anything with BTC with current high fees and long confirmations, there is no denying that.

there is no denying the increased amount of fees and the over-crowded mempool.

but i just made a deposit into my exchange account, it cost me 0.0004BTC fee and it went smoothly and fast.

I also renewed my VPN subscription recently and again paid a small fee like the other tx and it also went smoothly within 10 minutes with that fee.

Slark

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Quote from: BrewMaster on April 12, 2017, 10:42:44 AM

but people spending bitcoin on them on a daily basis is the bluff of OP.
yeah you may even buy a cup of coffee with bitcoin using your mobile wallet but that will be once or twice tops.

that is why i asked him to give us some photo 24 hours ago in the first page of this topic and so far that comment was ignored.

Op might bluff or you can also call it a figurative expression - and we gotta admit it is pretty accurate.
We will have trouble buying anything with BTC with current high fees and long confirmations, there is no denying that.

Quote from: daringdiscovered on April 12, 2017, 11:00:56 AM

I have also no idea why would somebody wants to use his bitcoin on to something that could be bought by fiat in the first place,

Then there is no reason to use bitcoin at all - for anything - as everything you can buy with fiat/credit card.
So why we have BTC in the first place, just to hoard it forever?

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Quote from: LeGaulois on April 12, 2017, 07:57:25 AM

Quote from: The Sceptical Chymist on April 11, 2017, 11:32:26 AM

Quote from: alyssa85 on April 11, 2017, 09:35:17 AM

You can always use other coins like Doge for that kind of stuff. You can use bitwala to pay for stuff in doge, dash, litecoin etc. See

https://www.bitwala.io/card/

https://www.bitwala.io/bitwala-sepa-transfers-with-ether-litecoin-dash/

Good idea for OP. However, why anyone would want to spend their precious crypto on something as consumable as coffee is beyond me. But good luck in doing so if that's your desire.

Because Bitcoin, or any other cryptos, is/are a currency and shall be used as it. It's not a collectible item like stamps. In this case the same could be say with fiat why anyone want to spend their precious money on something as consumable

I have also no idea why would somebody wants to use his bitcoin on to something that could be bought by fiat in the first place, is this a way to impress people and say, "Hey, I have bitcoins folks, who want some?" something like this. It is a waste of profits, really, because instead that we could have a large profit in the long run, we are jut throwing it away for some coffee or whatsoever that we wanted to buy that can be bought by fiat, I mean, yeah, it is worth it, if, we are going to buy the stuffs that we need that can only be bought by bitcoin.

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Pure curiosity

How much is the "normal" or "recommended" fee that would help your transaction be confirmed in the next blocks compared to the price of a coffee?
I don't know how accurate this is but it lists a fee of 62.1 cents for the next block.

The usual cup of coffee ranges from 1.4 to 2.5 usd dollars in my home town.
So it's about a close to 50% and low as 25% for a purchase.

Kind of ..... really shitty.

Quote from: CODE200 on April 12, 2017, 10:26:50 AM

Are you bluffing ? I think no coffee shop would accept bitcoin as payment could you send us the name of the coffee shop who accept bitcoin as payment or try it to take a photo of it. Because when i start to ask the cashier in starbucks at my place if they are accepting bitcoin as payment she didn't know what is bitcoin is.

There are a lot of them.
I know two in my city and hell, I live in eastern europe.

BrewMaster

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Quote from: CODE200 on April 12, 2017, 10:26:50 AM

Are you bluffing ? I think no coffee shop would accept bitcoin as payment could you send us the name of the coffee shop who accept bitcoin as payment or try it to take a photo of it. Because when i start to ask the cashier in starbucks at my place if they are accepting bitcoin as payment she didn't know what is bitcoin is.

actually starbucks is accepting bitcoin, google it and you will find it. and there is also a lot of other smaller businesses like this who are accepting bitcoin too. google foodtruck accepting bitcoin and you will find that too.

but people spending bitcoin on them on a daily basis is the bluff of OP.
yeah you may even buy a cup of coffee with bitcoin using your mobile wallet but that will be once or twice tops.

that is why i asked him to give us some photo 24 hours ago in the first page of this topic and so far that comment was ignored.

CODE200

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Are you bluffing ? I think no coffee shop would accept bitcoin as payment could you send us the name of the coffee shop who accept bitcoin as payment or try it to take a photo of it. Because when i start to ask the cashier in starbucks at my place if they are accepting bitcoin as payment she didn't know what is bitcoin is.

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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.

Coffee with Bitcoin thats so nice. Why don't you deposit a lumpsum amount in the coffee shop and continue to enjoy cofee. Or pay at the month for the coffee if the owner trusts you very well. Paying such kind of fees for coffee is not such a good idea. You may ask them for a prepaid card and have it refilled. Otherwise it shall burn a huge hole in your pocket if you continue to pay such fees.

mmo4me.2016

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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.

I thinks, at the moment, buy a a coffee with BTC may be expensive because the fee is so high

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Quote from: CROYA86 on April 11, 2017, 10:13:38 AM

I guess if your problem on the confirmation should be those stores do not need to use the confirmation because it will need the long time, to my knowledge every transaction it will not be returned to the sender but will only take a long time only, so in a business like this should have a payment using bitcoin no need to use 2 confirmation again

The transaction through bitcoin may be differ depending on the country where you lived or where you take your transaction. Because the capability of local businesses to accept bitcoin depends on the value, price and modernization through countries. We all know that crypto-currency is powered by internet meaning to say through web o acceptance of bitcoin on buying , paying or converting much be affected by the recent quality of the country. But for my thoughts, in the near future I know bitcoin will improve as the technology improved making bitcoin as a primary currency that can be used in any transaction.

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Quote from: The Sceptical Chymist on April 11, 2017, 11:32:26 AM

Quote from: alyssa85 on April 11, 2017, 09:35:17 AM

You can always use other coins like Doge for that kind of stuff. You can use bitwala to pay for stuff in doge, dash, litecoin etc. See

https://www.bitwala.io/card/

https://www.bitwala.io/bitwala-sepa-transfers-with-ether-litecoin-dash/

Good idea for OP. However, why anyone would want to spend their precious crypto on something as consumable as coffee is beyond me. But good luck in doing so if that's your desire.

Because Bitcoin, or any other cryptos, is/are a currency and shall be used as it. It's not a collectible item like stamps. In this case the same could be say with fiat why anyone want to spend their precious money on something as consumable

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Quote from: harizen on April 11, 2017, 09:48:28 AM

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.

The transactions fees we are using today will be worth hundred of dollars in the future

.

Isn't that just more of a reason that people don't want to spend Bitcoin?

When it's as deflationary as it is now, everyone just wants to hoard it and not spend it. That basically just makes it a stable asset/investment and not a currency.

By the time that Bitcoin stabilises, it won't be used for spending either because the lowered block reward will result in transaction fees rising to cover mining costs. I don't think people need to spend Bitcoin for coffee though - it was always going to be impractical.

bitcoinisbest

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OP - That is right even I am facing same issue with the fees with so high. So even if I have to transfer some small btc to anyone , I cannot do it since the fees has gone up sky high considering the world is starting to adopt the fees has to go down and not vice versa.

DoublerHunter

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It is not true that you can't use bitcoin to buy a coffee now because I am sure that there is a lot of stores that accepts bitcoin as their payment option and also the coffee shops in different places. In fact, in our place near in the mall there is a small coffee shop and a restaurant that accept bitcoin and that is very good for me because if i don't have money when i'm starving then i just go to that place and buy some food and eat it and pay them with bitcoins.

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i seriously doubt if OP or anybody else in the whole world have been buying Coffee with bitcoin at least not regularly. maybe once or twice but nobody has ever done it on regular basis. when people invest in bitcoin and get sick on a small drop and get thrilled to the moon when it goes up, they are not going to spend their precious coins on things like coffee regularly.

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Quote from: LuanX3 on April 11, 2017, 10:47:06 PM

Quote from: Vaskiy on April 11, 2017, 09:00:24 PM

For a long time Starbucks was found accepting bitcoin for their service. But several news came regarding the same that those are very expensive and cannot be affordable for common people. I suggest there are lots to be done with bitcoin other than buying goods and foods. Try to focus on such activities and profit out of it.

Interesting that starbucks, if they really did, offer their coffee for bitcoins. I just can't really imagine yet how things would go if there are services that already accepts bitcoins as payment in the real world. Especially, when bitcoins is not instantaneous. The merchant has to wait for confimations before he gives his service.

I also heard the news but said a lot of users bitcoin still doubt because the length of transaction confirmation. actually I have not been interested in using bitcoin for something fast like drinks or food because I think there are still weaknesses in that.

Topic: I can't use bitcoin buying a coffee now. - page 4. (Read 4809 times)