Quote from: Ayebabara on Today at 06:23:58 AM

I don't have bitcoin yet but planning to acquire it. I have been in the forum for sometimes now though I am not regular, but studying whenever I visit the forum. And noticed one thing about bitcoin. Bitcoin is a digital money for trading, payment of goods and others. But what I noticed is that, bitcoin cannot be used to buy and pay some instant services and goods. Examples, you want to buy banana on the way while driving from a hawker, will you use bitcoin to pay the bananas? Because the way I am looking at it, it is possible but the delay in transfer is the concern here. Bitcoin transfer is not like the bank transfer in which we received instant allert within 2-3 minutes time. I know some people will say set the transaction fee high then you can pay whatever you are buying with instant alert. I don't think someone will pay something with BTC and the transaction fee is very high and double the amount you want to pay for the goods.

So I want to know in such situation, what will you do? I am asking this question because bitcoin is a digital currency for exchange of goods and services. I know that there are some services you pay ahead but what of the ones you are buying instant? You just came to the place and you want to buy from the hawker and zoom off, and you are to pay with bitcoin because there is no physical cash in your wallet/pocket/hands. And because of the delay in payment I was thinking that not everything we see can be purchased with bitcoin, is it true?

Bitcoin is digital money, so you can buy digital bananas with it. Wink

For bitcoin transactions within 2-3 minutes you will not overpay x2 the cost of your bananas. The problem with bitcoin is not that no one will pay in bitcoin for goods, but that at the moment there are few sellers of goods (like your bananas) and services willing to accept btc as payment.

I have doubts at all that there will ever come a time when you can buy a cup of coffee with the help of bitcoin. I’ll voice an already hackneyed phrase, it’s like buying a cup of coffee for a bar of gold. Bitcoin has already become disproportionately big that it is unlikely to be used for purchases of small goods. Moreover, btc has been transformed into an investment tool from digital money. This is neither good nor bad, but it just happened and you need to accept it, and not be indignant.