Topic: We can't buy something with Bitcoin quickly - page 5. (Read 6066 times)
This is the problem that we cant buy something with bitcoin. Even here in my country no shops nor coffee shops that offer bitcoin as payment. Maybe because bitcoin still has a problem that didnt resolved yet like too long to confirm the transaction.
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?
How can we be sure that it's not a double spent transaction or something else?
Your exemple is right, my friend!
Bitcoin right now is not actually a practical instrument to buy some daily small stuff like a cup of coffee. It is not worth it. For those kinds of transactions you better use your fiat currency. With fiat, you don't even have to ask for the chit. You just have to leave a bill right under your saucer and leave without a word. With bitcoin, it takes more confirmation time and high fee.
Exactly, using bitcoin for micro transactions and especially in the offline market, it is getting more and more difficult and costly. I am not sure if we can do this or not but I would like to have some service which will instantly transfer the bitcoins from my account to the account of some other person without such high fees. Reducing cost for micro transaction would boost the overall growth of bitcoin in terms of user base and price.
Yes that could be one of the main reason why bitcoin in some ways is not instantly to be use. If we dont have an internet access we cannot withdraw bitcoin. Well, I was not talking about internet access but the offline transaction is in the reference with the transactions made for the offline purchases (through the merchants in the markets). Even the offline transactions will need internet access for transferring funds from one wallet to the another.
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?
Definitely,it has become very hard to buy anything nowadays with bitcoins quickly.The reason is very slow transaction.If you are ready to pay more fee for such small products to speed up confirmation,then it would be uneconomical.In future,bitcoin would be mostly used as a store value instead of a currency.How can we be sure that it's not a double spent transaction or something else?
When you are revolting against all the masters controlling every body like puppets right now every where on the planet, you never care for petty routines, people have mistaken Bitcoin with a smart phone application, they usually making things much easier to do but Bitcoin is not an application, it's not an ordinary digital currency, you need to learn what decentralized truly means and what potentials it has, regardless we are not normally go shopping then pay with gold coins or gold bars, if Bitcoin is not digital gold then what is it?
.. If we dont have an internet access we cannot withdraw bitcoin.
that is no reason!
most places in the world already have some sort of internet access, even in the third world countries, the internet access is growing. there are actually some third world countries with more people online than any other country!
in other words you need to look at the majority and how their internet access is not the minority in the depth of Africa.
Well in some instances just who the trail where you paid it then i guess its ok but with the current high transaction fee, it is good enough as buying a 2 coffee with just one transactions. So i guess for now btc as a direct payment in small businesses is just not advisable. Maybe in the future if the fee would go down and as you said it will just be via swipe then its ok to start a btc as payment.
.. If we dont have an internet access we cannot withdraw bitcoin.
that is no reason!
most places in the world already have some sort of internet access, even in the third world countries, the internet access is growing. there are actually some third world countries with more people online than any other country!
in other words you need to look at the majority and how their internet access is not the minority in the depth of Africa.
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?
Definitely,it has become very hard to buy anything nowadays with bitcoins quickly.The reason is very slow transaction.If you are ready to pay more fee for such small products to speed up confirmation,then it would be uneconomical.In future,bitcoin would be mostly used as a store value instead of a currency. How can we be sure that it's not a double spent transaction or something else?
.. If we dont have an internet access we cannot withdraw bitcoin.
that is no reason!
most places in the world already have some sort of internet access, even in the third world countries, the internet access is growing. there are actually some third world countries with more people online than any other country!
in other words you need to look at the majority and how their internet access is not the minority in the depth of Africa.
Exactly, using bitcoin for micro transactions and especially in the offline market, it is getting more and more difficult and costly. I am not sure if we can do this or not but I would like to have some service which will instantly transfer the bitcoins from my account to the account of some other person without such high fees. Reducing cost for micro transaction would boost the overall growth of bitcoin in terms of user base and price.
Yes that could be one of the main reason why bitcoin in some ways is not instantly to be use. If we dont have an internet access we cannot withdraw bitcoin. 
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 already thought about this thing and i guess when they use bitcoin it will takes hours before it will going to confirm but i see some youtube videos where they buy in store using bitcoin and they just scan the qr code and then just a split second already receive the bitcoin so i guess its depend in what is your wallet. How can we be sure that it's not a double spent transaction or something else?
Exactly, using bitcoin for micro transactions and especially in the offline market, it is getting more and more difficult and costly. I am not sure if we can do this or not but I would like to have some service which will instantly transfer the bitcoins from my account to the account of some other person without such high fees. Reducing cost for micro transaction would boost the overall growth of bitcoin in terms of user base and price.
It is not a smart idea to use bitcoin to buy things that are very low in price because you are like paying the item twice because of the fees that are high too or the same of the price of the coffee (for example) bitcoin is not like fiat currency and they have uniqueness and they designed differently so we don't need to expect to buy something with bitcoin in a quick and money wise kind of way.
Exactly, using bitcoin for micro transactions and especially in the offline market, it is getting more and more difficult and costly. I am not sure if we can do this or not but I would like to have some service which will instantly transfer the bitcoins from my account to the account of some other person without such high fees. Reducing cost for micro transaction would boost the overall growth of bitcoin in terms of user base and price.
I agree with your concern on real time usage of bitcoin we can make sure by paying high transaction fees even it will take time. I recommend convert into fiat currency in exchanges and use it .
With till now maturity of bitcoin this problem is fact but when it become common such wallets will introduce which will clearly shows that is there is bitcoin in the wallet or not which will save time even it will be more easy because every person who will accept bitcoin will have automatic software for his business which is other very good feature of bitcoin. 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?
By way of transactions using bitcoin is not as easy as we open the wallet and take the money and then pay it but the transaction using bitcoin we must connect first with the internet it takes time not so fast than we spend money from the pocket itself. How can we be sure that it's not a double spent transaction or something else?
Yes, We can't if we are buying through 3rd party sites but if you are having a deal with a person then you'll be able to do the trades faster because the item you are buying can be given to you once the other end saw your transaction even if its unconfirmed. I've dealt with many people before and that is how we do our trades once i saw the transaction in the blockchain then i can give them the goods or alt coins that they are buying.
You don't have to transact in person for this method to work. If you do it online and show an unconfirmed transaction in the blockchain, they can release the fiat payment or send you a product.In case of an online store packing the product and entering all shipment details take time. Also companies have scheduled shipments usually once a day, so there's plenty of time for the payment to come through. THey can proceed like it were confirmed and by the time everything is packed and taken by the driver they can have a confirmation.
Looks like a problem if I'm not drinking my coffee inside the coffee shop. Lolz! Don't know exactly what to do with such a situation. May be you can choose to pay him in advance if you are a regular customer at the same coffee shop everyday. Waiting for the confirmation will always be there if you are paying less fees which can take upto few hours to confirm. On the other if you pay high fees then also you will have to wait for 10 min to 30 min for sure which also not a good option to go easily with bitcoin payments. But, there is one more good option to surpass your worries which is bitcoin debit card. There are lots of services now available for us to use like contactless bitcoin cards. One on the my signature right now is TenX which works on the principle of instant blockchain made spendable. That means you can use your bitcoin instantly without any further delays or confirmations. May be it is not available in all parts of the world but it will get fully developed for sure.
Well I think it depends on the seller,
If the seller would agree to give it to you with just 1 confirmation in the process.
If the seller would agree to give it to you with just 1 confirmation in the process.
Basically you can't buy anything with Bitcoin nowadays. Hoping things will get better after 1st August or maybe even before that date. It's better to hold and use old money to buy stuff in the meantime...
In this time,bitcoin is not convenient to use for daily expense
It's like gold,you are not spend gold to buy some trivial need
Maybe in the future,after the problem of long transaction and high fees has been solved,we can use it for daily matters
Definitely.bitcoin is no more economical to buy small products due to higher transaction fee.So,bitcoin should be considered just as a commodity like gold and not as a currency.Also we could wait for Segwit 2x to get activated and see whether transaction fee decreases. It's like gold,you are not spend gold to buy some trivial need
Maybe in the future,after the problem of long transaction and high fees has been solved,we can use it for daily matters
Jump to: