It all depends on how much you are willing to spend per transaction. One of my wallets has an automatic exchange of the national currency and withdrawal of currency to a Bank card. It now happens instantly. Only the price in exchange for 200-300 dollars less than the real price for 1 BTC.
Wait a minute , did you just said you're paying an extra 15% to withdraw your funds with the current exchange?
Why are you even doing it?
I might be able to understand if you go and deal in cash on localbitcoin or try an atm that doesn't require id but this?
It's not even this. Obviously the guy is probably selling their coins a bit too cheap, but he can do whatever he wants. Plus, the discussion is more about miner's fees and transaction confirmation times, rather than exchange rate spreads on exchanges.
For exemple, I go to a coffee shop, I buy a coffee, then I pay with Bitcoin, we have to wait for a confirmation, no? or the merchant will just trust me if I show my wallet?
How can we be sure that it's not a double spent transaction or something else?
I would assume that most merchants willtrust you because they've got CCTV and all that, security measures irl are much more stringent than in the cyber world. Plus, Bitpay or other bitcoin payment processors will assess whether or not your transaction has enough fees to be confirmed in the first block. If your transaction is large obviously maybe they'll ask you to sit down and wait till confirmations arrive, and the same with low transaction fees.
Bitcoin is built for ecommerce imo so real world adaptability isn't that great atm.
Yeah the discussion was about buying things and he choose the way of instantly converting coins to fiat to buy things.
At a 15% "discount" rate in order to avoid the confirmation times.
Which in my opinion is plain stupid.
And what will merchants trust in you?
Just because they have a video of you entering in he store which might or might not identify you?
They will go through the hassle of filing a complain to the police wait for them to identify you (if ever) and the go to the entire costly process of getting the money through legal ways?
If they do manage that.
Nobody will give you the goods with 0 confirmations.
At least nobody with a brain at work in their heads.
At 9 am there was a 30 minutes gap between blocks.
Do you imagine all the people that enter in a shop in half an hour lining on the wall waiting for the confirmation to be able to leave with their groceries?
Who the hell is going to do that?
