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Who here uses Bitcoin for regular transactions (not trading)? by ancap47

View this thread on: hive.blogpeakd.comecency.com
· @ancap47 · (edited)
$1.79
Who here uses Bitcoin for regular transactions (not trading)?
<html>
<p>https://news.bitpanda.com/wp-content/uploads/2017/07/the-rise-and-rise-of-bitcoin-54b8c08957db0.jpg</p>
<p>To me, the fees are just too high now. Why pay $5 to send BTC when I can use Bitcoin Cash and pay less than a penny?</p>
<p><br></p>
<p>Just curious what the thoughts are of people holding BTC.</p>
</html>
👍  , , , , , , , , , , , , , , , ,
👎  ,
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@afukichi ·
I am the same opinion, too.
I think the current situation of BTC is quite expensive.
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@andersrh ·
$0.23
I use Bitcoin to transact to people I know. Because we know each other I set a low fee because it doesn't need to be included in the next block.
👍  ,
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@tobixen ·
Still there is a significant risk it won't be confirmed at all, if the fee is too low.  Transactions usually time out after three days.
👍  
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@andersrh ·
$0.41
I have had one which was waiting for 4 days. It confirmed 2 days ago.
👍  , , , , , , , , , , , ,
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@andersrh ·
https://blockchain.info/tx/3891bdc8d4d049c7cf08ee3f66a036e9190aea574a3e6819d9b9ee2ad8516d65
👍  
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@atli ·
https://steemitimages.com/0x0/https://steemitimages.com/DQmVrdc6b7nQ3JzGbFrj2LZ9j8JEBffQDQ9i2prjNh19cnK/1499958597970.jpg
  koçum kimseye kırmızı bayrak gösterme ananı pazarlarım burada kimse seni elimden alamaz
👍  
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@daudimitch ·
Could I buy some BCH off of you, are you on PAL chat or anywhere of chatting
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@ancap47 ·
How did you want to pay?
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@daudimitch ·
what's most convenient for you?
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@davebrewer ·
$1.27
No one uses BTC to make regular day to day purchases.  Your Visa card is much more functional than BTC for those daily purchases.

People either buy BTC with fiat and hold long term, as a hedge against fiat risk.

Or they buy BTC with fiat, so they can flip that over into alt coin market and slowly piss away their money with day trading

But maybe I'm too negative on day trading, LOL
👍  , ,
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vote details (3)
@tobixen ·
$0.15
I hate the narrative "visa is just perfect for daily purchases".  It is far from perfect, and Bitcoin used to work much better than visa.
👍  , ,
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vote details (3)
@vimukthi ·
We already have Dash and then there is TenX, Monaco etc. No need to use Visa or that garbage BTC. Dash solved all the problems. That's why it's my #1 long term HODL currency.
👍  ,
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vote details (2)
@whitesj40 ·
Actually I agree with Dave. I like Bitcoin but we should not kid ourselves it is not yet ready for day to day use to pay for things. I can give a simple example. I am currently on long term assignment in India where they recently pulled a lot of the circulating currency effectively forcing people to cashless payments. People pay with various mobile phone apps which usually take a few minutes to clear. The problem is the lines at the grocery store check outs stretch for miles. The customer cannot leave until the transaction clears. Each one takes a few minutes and everyone waits. Imagine waiting 10 minutes for each one. Cash is by far the faster option at the moment.  It will change. It must change. But dont kid yourselves that it is better yet. The one huge caveat to that is sending money overseas there is simply no comparison there . Cyrpto wins and wins vs the long winded and costly badgering by the banks on every personal detail about the transaction.
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@urbansteemers ·
Wrd. But thise is facts!
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@drewkin ·
Meaningless post. Clearly just trying to promote bitcoin cash. Do you have anything meaningful to post?
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@jlcrypto ·
100% with you my friend
Bitcoin technology is far far from many altcoins 
And the fees in Bitcoin blockchain is ridiculous. It doesn't do better than centralised lobbies
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@spiftheninja ·
If you manage your own privkeys and don't worry about the amount of blocks before your coins are confirmed, you can send for very cheap rates.. especially in the middle of the night. 

Odd, but you just have to watch the fees. You can see the current fee stack and mempool load by checking [this website](https://bitcoinfees.21.co/#fees)

It all depends how many inputs you are consuming which therefore is in direct control of your transfer size in KB which is what determines your fee.

So if you use coin control features, and select only 1 input for your send.. then set a manual fee of 0.0001124 BTC/KB (which are currently confirming no problem), your send will be less than .00002 for ANY amount of coins sent.

Keep in mind, the ONLY thing that matter is the amount of inputs you are consuming. More inputs = larger size in block = higher fee
👍  
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vote details (1)
@spiftheninja · (edited)
EDIT: The fee I calculated there is $0.08. 8 cents. I think most people can afford 8 cents to send any amount of money. 

With that being said, I send BTC a lot with very little fees. You just need to know what you're doing.
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@steemitboard ·
Congratulations @ancap47! You received a personal award!

<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@ancap47/birthday2.png</td><td>Happy Birthday! - You are on the Steem blockchain for 2 years!</td></tr></table>

<sub>_[Click here to view your Board](https://steemitboard.com/@ancap47)_</sub>


> Support [SteemitBoard's project](https://steemit.com/@steemitboard)! **[Vote for its witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1)** and **get one more award**!
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@steemitboard ·
Congratulations @ancap47! You received a personal award!

<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@ancap47/birthday3.png</td><td>Happy Birthday! - You are on the Steem blockchain for 3 years!</td></tr></table>

<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@ancap47) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=ancap47)_</sub>


###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!
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@tobixen · (edited)
$0.84
I was using Bitcoins (through mycelium, and some extent Core) to pay my son for doing house-work, sending and receiving money from my friends, spent some on charity, donating to mediawiki, I was buying stuff online, etc.  Not anymore - and so far I haven't started promoting any alt-coin to replace bitcoin.  Nowadays I'm only "trading" with bitcoins.  (My strategy is to be a market maker in the domestic market and take a bit of commission on both sides - it has worked out great compared to holding fiat, but terrible compared to hodling bitcoins, and sometimes I've also been borrowing bitcoins and going in minus due to that).

I'm really quite worried, I believe the value of bitcoin is based on its promise as a viable means of payment.  Once it cannot be used as payment, the only value left is speculation.  An asset having no value except people buying it speculating that the value will grow even further ... well, I'm a bit concerned Bitcoin is heading for a role as"digital tulips".

As compared with alt-coins, Bitcoin gets it's value from the network effect, the brand name and arguably the strong security offered by miners.  Bitcoin Cash doesn't have that.  Most supporters of Bitcoin Cash hopes that Bitcoin Cash will overtake the role of Bitcoin.  I think that if Bitcoin will experience a tulip-style market crash, it will be terrible news for all crypto, money will leave the cryptos in general.
👍  ,
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vote details (2)
@ancap47 ·
yep, and Peter Schiff will be gloating that he was right.
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@atli ·
https://steemitimages.com/0x0/https://steemitimages.com/DQmVrdc6b7nQ3JzGbFrj2LZ9j8JEBffQDQ9i2prjNh19cnK/1499958597970.jpg
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@urbansteemers ·
@ancap47 Awesome info as i am new. I have coinbase how do i het my bitcoin cash out to use that?
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@whitesj40 ·
$0.03
I use Bitcoin every time i move Fiat money to the Alts.
👍  
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vote details (1)
@ancap47 ·
that's trading. So not for regular purchases?
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