Real life usage of bitcoin - page 48.

DoublerHunter

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Quote from: jeffytune on June 01, 2017, 05:18:35 PM

Don't you think price blast not correlate with its real life usage since its inception?

Its hoarded for speculative purpose but how many major cities in the world have even its ATM?

I mean we all the time correlate its value with fiat currency then buy/take then what's its purpose in my day to day life?

Who will accept it in store when confirmation time is so long.

There is a wallet called blockchain wallet where they have web wallet and mobile app wallet and they also have merchant app where it is designed for the people who have business that wants to use bitcoin or accept it as another type of payment option for their shop and that wallet received bitcoin instantaneously so there is nothing to worry about the future acceptance of bitcoin in the stores.

Xester

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Quote from: mace15 on June 02, 2017, 03:48:36 AM

Quote from: pmstalk on June 01, 2017, 11:57:39 PM

Quote from: BreathOfZen on June 01, 2017, 10:20:35 PM

I've use bitcoin to buy computers, gold, silver, and various collectibleo have s on this forum. It is very useful if you know how to spend it.

Bitcoin may use in every sector where we need to make payment.we are very lucky to have btc.

Bitcoin real life usage is buying items online, trading and investing. These are my usage of bitcoin were could really helps me in my daily life and gives extra income. Also, making some payment thru online so Im very thankful that I have bitcoin which less efforts in payment.

Same thing with me. Here in my country I could use bitcoin to pay for my utilities like electricity, water bills, landlines, even school tuition fees. Plus the fact that if you knew someone who uses bitcoin and have some transactions with him or her, you could pay him bitcoins. Some trades their valuables with bitcoins and make some investments. I heard that there are places in other country where they can buy foods using bitcoins.

mace15

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Quote from: pmstalk on June 01, 2017, 11:57:39 PM

Quote from: BreathOfZen on June 01, 2017, 10:20:35 PM

I've use bitcoin to buy computers, gold, silver, and various collectibleo have s on this forum. It is very useful if you know how to spend it.

Bitcoin may use in every sector where we need to make payment.we are very lucky to have btc.

Bitcoin real life usage is buying items online, trading and investing. These are my usage of bitcoin were could really helps me in my daily life and gives extra income. Also, making some payment thru online so Im very thankful that I have bitcoin which less efforts in payment.

nuela

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All that is real when you squeeze, I feel his pleasure with bitcoin by making purchases of goods produced from him.

zend7

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I use bitcoin to buy electronics devices. I bought mining PC-s with it. I bought the first one on November 2016 and with the money won from it mining, I bought second one on March and third one a few days ago. I intend to mine in a business scale, for the moment I am putting different mining PC-s in different places and keep track of them with teamviewer. I also buy occasionally games in steam and maybe gamble a bit with it. Bitcoin has truly many real life usages but the user have to use his imagination to see all the benefits of using bitcoin in real life.

Schuyler

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Quote from: jeffytune on June 01, 2017, 05:18:35 PM

Don't you think price blast not correlate with its real life usage since its inception?

Its hoarded for speculative purpose but how many major cities in the world have even its ATM?

I mean we all the time correlate its value with fiat currency then buy/take then what's its purpose in my day to day life?

Who will accept it in store when confirmation time is so long.

Last time I checked, there are about two Bitcoin machines accessible in the central business district in my country. There was supposed to be a third one but I don’t know why it didn’t push through. As the awareness level rises, more of these machines could be set up to cater to the rising demand and more exchanges popping up. The use for local shops might not come soon but I ma hoping we are able to keep up with Japan and Korea in terms of usage and support.

Kakmakr

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This is why Bitcoin is so great! You can use it as a commodity and a store of value and you can use it as a currency. Before we had all these spam attacks and scaling issues, we used it for both. Lately people use it less as a currency, because the fees are too high and the confirmations take too long.

We are hoping that this will change after the 1 Aug 2017, when the first step is taken to solve the scaling problems.

Amph

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bitcoin is very suited for internet shopping, where you don't need 1 second confirmations, if you pay the correct fee 10 minute confirmations is very fast for any shopping done online

the only problem is the damn coffee or soem case of real life usage, but bitcoin is not good yet for micro transactions we all know this, speculation is good now for bitcoin, it help the value grow where it should be

when segwit + LN will be operative you will get to buy everything with it without much trouble, see micro transaction as a bonus

n0ne

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What's required more than a country legalizing it as a currency similar to its national currency. For OP ATM services were to make the money management effective that we can use when required and can eliminate the unnecessary needs of spending. For the same we have got lot many exchange services. So it's upto us how we make use of it. Right now the real life usage is low, but this would peak high in a short as users have started to use it directly without converting to traditional fiat.

stomachgrowls

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Quote from: darthmaul on June 01, 2017, 09:25:28 PM

Its nothing like that. It doesn't matter if bitcoin confirmations are slow or what. When you send you bitcoins you can not really revert the payment so the buyer is is assured that he will get his money. Also, you can negotiate fees and ask buyer to pay half and you will pay half that way confirmation would be faster. It is not necessary to have bitcoin as mode of payment. You can easily swap your bitcoins in the form of USD or whatever your local currency is with the help of exchangers and then pay to buyer. Why to restrict one self by just sticking to bitcoins. You can keep earning wealth as well and keep spending at the same rate and it gives you all the freedom you want.

This is true, we wont really be bother or making it as a hindrance regarding slow confirmations since transactions are irreversible and as you said buyer will really be assured that they can get the payment no matter what but there are some people which do like to recieve their money or change on a fast way too.Its not really bad to make it as a payment as long there are merchants on the place but as of now its just limited.

MingLee

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Quote from: jeffytune on June 01, 2017, 05:18:35 PM

Don't you think price blast not correlate with its real life usage since its inception?

Its hoarded for speculative purpose but how many major cities in the world have even its ATM?

I mean we all the time correlate its value with fiat currency then buy/take then what's its purpose in my day to day life?

Who will accept it in store when confirmation time is so long.

I personally do not think that the current spot value of Bitcoin is remotely close to what it would be worth if it had to actually reflect its real life usage. And I would say that pretty confidently.
I would assume the spot value due to actual use is much lower than what we see it being listed as right now, however speculation is not a bad thing and I will always welcome it whenever I see it happening, as long as the value of what I have goes up a little more. The only issue is that the BTC quantity issued for wages goes down, and I never like seeing that happening.

pmstalk

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Quote from: BreathOfZen on June 01, 2017, 10:20:35 PM

I've use bitcoin to buy computers, gold, silver, and various collectibleo have s on this forum. It is very useful if you know how to spend it.

Bitcoin may use in every sector where we need to make payment.we are very lucky to have btc.

NaXxow

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Personally, Bitcoin has a very powerful use in my daily life. Besides from earning salary in my real life job, because of Bitcoin, it gives people opportunity to earn more extra at a very convenient ways (if you know what I am talking about). Over-all, because of bitcoin, daily income has never been a problem to me.

CARrency

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Quote from: jeffytune on June 01, 2017, 11:25:23 PM

Well all usages told here has nothing to do with bitcoin as itself being used in real life but instead CONVERTED to fiat for transaction. In reality fiat value is working not bitcoin itself.

Not all of them, maybe in your place bitcoin is not accepted that is why, many countries accept bitcoin now, not only the countries, stores that accept bitcoins are also increasing. The only problem that we are facing doing these transactions is the confirmation og the transaction.

Yakamoto

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Quote from: jeffytune on June 01, 2017, 05:18:35 PM

Don't you think price blast not correlate with its real life usage since its inception?

Its hoarded for speculative purpose but how many major cities in the world have even its ATM?

I mean we all the time correlate its value with fiat currency then buy/take then what's its purpose in my day to day life?

Who will accept it in store when confirmation time is so long.

A fair amount of cities in the world have a Bitcoin ATM, they're not exactly numerous but you can find one in most cities if you want to look hard enough. While a lot of people to end up hoarding it, there are some of those people who still open up their reserves to the market so that they are able to make a bit of extra money off of the market.

Right now there is no real purpose for Bitcoin in your day-to-day and you need to encourage people to use it more.

jeffytune

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Well all usages told here has nothing to do with bitcoin as itself being used in real life but instead CONVERTED to fiat for transaction. In reality fiat value is working not bitcoin itself.

btcney

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Quote from: jeffytune on June 01, 2017, 05:18:35 PM

Don't you think price blast not correlate with its real life usage since its inception?

Its hoarded for speculative purpose but how many major cities in the world have even its ATM?

I mean we all the time correlate its value with fiat currency then buy/take then what's its purpose in my day to day life?

Who will accept it in store when confirmation time is so long.

In my opinion bitcoin was never invented to be a means of transacting in real life. Or at least not as much as a means to transact across the globe without having to pay massive fees and wait days or even weeks for the funds to clear into the recipient's account.

However you are right, it used to be at least practical to buy stuff irl with bitcoin but now it's not even practical. Taking into account that high transaction fees will be around 50% or more of your coffee purchase... It's 90% speculation and 10% real adoption.

noictib

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Quote from: jeffytune on June 01, 2017, 05:18:35 PM

Don't you think price blast not correlate with its real life usage since its inception?

Its hoarded for speculative purpose but how many major cities in the world have even its ATM?

I mean we all the time correlate its value with fiat currency then buy/take then what's its purpose in my day to day life?

Who will accept it in store when confirmation time is so long.

I am satisfied with your words of confirmation for long time . Here the single matter of the confirmation is not only here but also another factor is here that is the fee to pay during the transaction .
Do I am thinking that it may be possible that in the future our life will be fully with the virtual currency and make payment with free of charge , I don't mean to send from blockchain to blockchain , here matter is of the third party wallet where wallet to wallet transaction are free of cost( because of the transfer of the data only ) .
Here in my own big County only two people are accepting the Bitcoin one is I am and second is in the another state of my country , so it will take long time for us .

SingAlong

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The acceptance of Bitcoin in stores are on the process like in Japan where it is widely accepted and soon the rest of the world would.

Bitcoin has its real life usage indirectly. You convert it to fiat then buy your needs and also your wants. Some make their living in Bitcoin and earn it to feed their family and buy some luxury if they want to. The Bitcoin as it stands as the major and king of all cryptocurrencies experiences congestion in blockchain that slows down the transactions will soon be resolved. Also there are other coins which has less traffic and trusted which is much suitable to use in this kind of business that requires a fast confirmation of transactions. Still the other coins are there to support Bitcoin and users would tend to store the money that they have gained to Bitcoin. There are also things that people prefer to use Bitcoin as payment that is people who offers there services in terms of Bitcoin.

Soon we will experience the real life usage of Bitcoin directly.

farharhadi

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After knowing bitcoin I can buy valuable items, bitcoin is very useful if you know how to use it and many other things about bitcoin.

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