We can't buy something with Bitcoin quickly - page 8.

skorupi17

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Quote from: glerand on June 21, 2017, 12:21:10 PM

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?

That will vary depending on the merchant. If they will let you go even the transaction is not yet confirmed then you can, if not then you cannot. If they want to wait for the confirmation, you might end up adding transaction fees so that the transaction will be confirmed quickly and that is the worst. This transaction confirmation waiting time needs to be compromised as soon as possible in order for Bitcoin to be used as an effective currency.

I doubt double spent tx will occur there. Almost all wallet (if not all) displays a notification or something that confirms your tx so having a double payment is not possible otherwise the user is at fault.

stompix

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Quote from: the rise on June 22, 2017, 11:14:13 AM

Quote from: Gintama214 on June 22, 2017, 10:51:05 AM

Quote from: glerand on June 21, 2017, 12:21:10 PM

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 think you don't need to wait for confirmation because when you send a bitcoin to a wallet in a minute you can see that the transaction is pending, that alone will verify that the bitcoin is sending and just waiting for confirmation. I think when businesses will do that if bitcoin will be mainstream in our generation, but I also think by that time when shops will accept bitcoin as a payment programmers will find a way to make bitcoin transactions faster like banks when you use your card and tap your card or like the apple pay or google pay were you just pay and as long as you can see that the transaction is pending your good to go. Wink

The advantage of delayed bitcoin transactions is that transactions can't be canceled when they are sent, this has become a warranty between two parties. I keep paying attention to the development of bitcoin paper, but there has been no serious progress. I hope bitcoin can make coins/physical paper as perfect as possible because only this can make things faster.

There will be no further development.
http://www.bitnotes.org/

This is as far as we can go.
Because bitcoin design we can't and we won't have paper bills or coins.
The moment you have control over a bill you have control over those coins for as long as they stay in the address you have the privkey.
Just handing over the bill won't cancel your access to the funds located behind that privkey.

Unless we go and exchange bills and then print another set right at the moment of the transactions there will be no safe way to exchange them. And that would be pretty stupid.

Kawasanz

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I think it is very difficult if you just pay for coffee with bitcoin why?
Because the bitcoin system when you transact will require confirmation and it takes about 5-10 minutes, while your coffee price is not more than 10 dollars,
I think for now the transaction using bitcoin to the shop or restaurant there is a minimum price of about 50 dollars.

Siren

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Quote from: Kotone on June 24, 2017, 11:36:51 AM

Quote from: MetalGear on June 24, 2017, 09:49:57 AM

Now we cant buy something quickly using bitcoin.Because bitcoin now is not yet globally accepted and globally used .But I think time will come that bitcoin will be known and will be use bt many and it will become one of the money currency in the world.

We should be thankful enough that we would have the knowledge on how to earn bitcoin. We all know how does it works so we should not get too impatient because we cant buy our wants instantly. It is our part to wait for the transactions. It doesnt matter as long as we can use it to buy our goods.

Agreed. we should be thankful that we have found bitcoin and earn from it. However, I still try to be very optimistic and see that bitcoin will be mass adopted and as a result a lot of online merchant will accept bitcoin as mode of payment. But sadly, its not today because of the high transaction fee's that is being incurred when using bitcoin.

carlisle1

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Quote from: glerand on June 21, 2017, 12:29:47 PM

Quote from: spazzdla on June 21, 2017, 12:22:35 PM

Depends on the merchant, the guy in my city(a baker) is fine with an unconfirmed tx. For sure there will be people that double spend as people are serious piles of shit, but that is just like the losers that dine and dash, steal from vending machines, etc. Business just eat the costs of human bile.

You can double spent a transaction with a phone wallet?
But if you show your wallet, and the merchant verify that you send the transaction without any problem, and he find it in his wallet (without confirmations, but if you set a high fee, it will confirm soon).

Why do you have to show your wallet just to prove that you have sent the exact amount of coin when it can be seen on transaction history even if it is not yet confirmed ? Actually it is not a problem and you don't have to wait for it to be confirmed as long as you have made it, it will be sent only to the right recipient . And since there are already an options for the speed of transactions it might help to make the process much faster .

dmamigo

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Quote from: nightxglow on June 24, 2017, 11:52:37 AM

Ah, that's right. I never think about something like this before since there's no place for me to use my bitcoin in my country.
But maybe they will believe it if you show the transaction proof? If not it'll be a real disaster though. Imagine you buy a cup of coffee and need to wait for one or two hours to get it lol. Kinda funny for me.
It's really inconvinient. You should just change your btc into real money and use your real money instead to buy coffee.

Unless its becoming popular enough, its not possible to see Bitcoin getting accepted even in the big retailers/shops.
I can recharge using Bitcoin in my country and even transact for goods or services but on personal mutual understanding.

Using BTC online is no doubt helped me a lot as I don't have Credit Card and so it helps me to transact with no issues.

nightxglow

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Ah, that's right. I never think about something like this before since there's no place for me to use my bitcoin in my country.
But maybe they will believe it if you show the transaction proof? If not it'll be a real disaster though. Imagine you buy a cup of coffee and need to wait for one or two hours to get it lol. Kinda funny for me.
It's really inconvinient. You should just change your btc into real money and use your real money instead to buy coffee.

Kotone

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Quote from: MetalGear on June 24, 2017, 09:49:57 AM

Now we cant buy something quickly using bitcoin.Because bitcoin now is not yet globally accepted and globally used .But I think time will come that bitcoin will be known and will be use bt many and it will become one of the money currency in the world.

We should be thankful enough that we would have the knowledge on how to earn bitcoin. We all know how does it works so we should not get too impatient because we cant buy our wants instantly. It is our part to wait for the transactions. It doesnt matter as long as we can use it to buy our goods.

MetalGear

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Quote from: glerand on June 21, 2017, 12:21:10 PM

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?

Now we cant buy something quickly using bitcoin.Because bitcoin now is not yet globally accepted and globally used .But I think time will come that bitcoin will be known and will be use bt many and it will become one of the money currency in the world.

BeGoods

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Quote from: sumit513 on June 22, 2017, 02:13:07 AM

At this stage, one who spends bitcoin for things is a fool. Coming to the point, no one will wait for the confirmed transaction.

I think that's not a stupid thing, although at this time the confirmation time is quite long but it does not matter if you are shopping outside other countries? Is it you ever shop on ebay or amazon. Delivery time can be up to 2 weeks to get to my country. So just waiting a few minutes or a few hours to confirm is not a problem

Caelanpelley

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Quote from: glerand on June 21, 2017, 12:21:10 PM

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?

sure, because bitcoin has been popular and widely used. So when you use them will take time or may be refused.Bitcoin is only used to perform the transaction for less cost. I don't think anyone will use bitcoin. ...To buy cafe.

bouren

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Quote from: glerand on June 21, 2017, 12:21:10 PM

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?

Easiest way is using web wallets. They don't credit your account until BTC is confirmed and debited account as soon as you made transaction. Thus no possibility of double spend.
In this way, shopkeeper can easily trust you for amount even without single confirmation.
By the way, when you decided to spend $3 in fees to pay for coffer worth $1 Cheesy

audaciousbeing

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Quote from: glerand on June 21, 2017, 12:21:10 PM

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 dont see any issue in that so far the merchant is knowledgeable about bitcoin all that is needed is to ensure just one confirmation and there wont be any issue arising. But the cause for concern is actually the cost of transferring, that we all know its on the high side in the sense that for wanting to buy say a 2$ coffee and I need to pay say $1 transaction fee in order to attain the one confirmation needed is too expensive for me.

the rise

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Quote from: Gintama214 on June 22, 2017, 10:51:05 AM

Quote from: glerand on June 21, 2017, 12:21:10 PM

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 think you don't need to wait for confirmation because when you send a bitcoin to a wallet in a minute you can see that the transaction is pending, that alone will verify that the bitcoin is sending and just waiting for confirmation. I think when businesses will do that if bitcoin will be mainstream in our generation, but I also think by that time when shops will accept bitcoin as a payment programmers will find a way to make bitcoin transactions faster like banks when you use your card and tap your card or like the apple pay or google pay were you just pay and as long as you can see that the transaction is pending your good to go. Wink

The advantage of delayed bitcoin transactions is that transactions can't be canceled when they are sent, this has become a warranty between two parties. I keep paying attention to the development of bitcoin paper, but there has been no serious progress. I hope bitcoin can make coins/physical paper as perfect as possible because only this can make things faster.

mihohil

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if it's not secret, where are you from? it's interesting for me, because in my country I can't buy coffee for btc.

Gintama214

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Quote from: glerand on June 21, 2017, 12:21:10 PM

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 think you don't need to wait for confirmation because when you send a bitcoin to a wallet in a minute you can see that the transaction is pending, that alone will verify that the bitcoin is sending and just waiting for confirmation. I think when businesses will do that if bitcoin will be mainstream in our generation, but I also think by that time when shops will accept bitcoin as a payment programmers will find a way to make bitcoin transactions faster like banks when you use your card and tap your card or like the apple pay or google pay were you just pay and as long as you can see that the transaction is pending your good to go. Wink

avikz

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Quote from: glerand on June 21, 2017, 12:21:10 PM

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?

You are correct, the current network fees and confirmation time is actually hindering the goal of bitcoin to become an internet currency. People prefer other coins like ETH for the swift turn-around-time.

However, bitcoin still remains as an excellent investment currency due to the steady increase in its price. Those who are investing in bitcoin since last one year, they are already sitting on crazy profit and I am sure they are investing more in to it. So it is the best time to take bitcoin as an investment asset and not as a transaction currency.

Pamadar

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Quote from: zedsacs on June 22, 2017, 08:51:16 AM

You know what bro, it really depend on the merchant. Let say he/she wants the payment be fully confirmed first before you can get the product but I think it would be hassle for them and also for us. A single confirmation is okay because we really cant cancel a transaction after sent it.

thats right it can't undone wants the transaction was already been sent, but the big problem is the current fee is really hurting both buyers and sellers unlike before that we can easily transact without hesitation but now before buying small stuff you will think twice because of the said fees,.

haroldtee

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Gone are the days when you can purchase micro stuffs with your coin, easy peasy, but now with the huge TX fees, it is almost impossible unless you have a lot to spare. I miss those days though and hopefully it comes back. Anyway, from what OP said, it isn't like we can't buy something with Bitcoin quickly, we definitely can with a high fee but if you think your transaction won't take forever with a very low TX fee these days because you can't imagine yourself paying a transaction fee more than the value of the item you are purchasing itself, ... IMPOSSIBLE!

zedsacs

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You know what bro, it really depend on the merchant. Let say he/she wants the payment be fully confirmed first before you can get the product but I think it would be hassle for them and also for us. A single confirmation is okay because we really cant cancel a transaction after sent it.

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