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Rob D

Bitcoin now accpeted on CSB

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Time to step into the future. The future is unlikely to be Bitcoin same as when cars came out no one is now driving a Karl Benz! But it's the first one and the one most people have heard of it.

 

When cars first started appearing no doubt people didn't trust them, most said they will not last, they were slow and unreliabel ... now look at the roads and the choice we have!

 

I believe this will happen with currency - at the moment it may seem faddy, a scam (and some are!), and you don't really understand it. But in the end similar to the internet - there was a time before the internet and there is now a time with the internet.

 

Crypto currency will not just change but revolutionsie how we live and pay for things in the next 5 years possibly and within the next 10 years certainly.

 

Anyways you can now pay with bitcoin on CSB.

 

:)

 

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It will be interesting to see if its used much on your site. I cant see virtual currency taking off though tbh, all it does it add another layer to purchasing something and people like things easy, why turn money into another currency to get something when you can just put your card or paypal details in and job done?

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Virtual currency does the opposite though Dan - instead of adding another layer to purchasing it removes all layers.

 

Paypal and the like seem slick and easy to use because the interface between you and paypal has been made easy. Behind taking payments the system is complicated and as a seller using paypal to accept card payments you get to see the massive top heavy infrastructure behind it all.

 

With Alt coins I can pay you wherever you are in the world with no intermediary and the transfer is instant. Direct from me to you.

 

Initially it will seem clumsier because you will want to turn that bitcoin into £ to use elsewhere. Also the technique at the moment is still clumsy but these are the very early days.

 

In the end you will just keep the bitcoin as bitcoin and use it elsewhere. Or whatever currency that is your preference.

 

It will be accepted worldwide. Going abroad? No need to change your currency. Need to pay someone in Mozambique? Easy as paying someone down the road.

 

 

 

 

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just tried a trial run of how id use bitcoin on your site as need files anyway and i'm well confused! Got as far as the link to go but the coins, then a bitcoin website where you buy the coins off people at varying rates(?) to download them to a virtual wallet I guess? 

I don't think its for me! 

Also just occured, wont it make it harder to put business transactions through the books? if I buy £100 of coins from my business account I could spend that anywhere with no evidence, where at the mo i use quickbooks which scans my bank account so can prove where money went to

Edited by dan494

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Haha I wondered who that was!

 

Yep at the moment unless you are sort of 'in' to Bitcoin it won't be worth your while going through the process.

Really it's more for people who struggle to have a bank account - folk in say for example Africa and other far flung places really struggle to get the money over to us. They have to use very expensive services and it is a pain for us to then go and collect it and bank it.

 

So you're right at this stage it's not for you - but I reckon around 3 years time it will be more common place and you'll find that maybe even in your Lloyds account you will have a place to keep crypto currency.

 

I love the ethos behind it all - a big two fingered salute to the banks after the rip offs they did in 2008 - they will never be able to control this and it takes away power from banks and government and puts it back in the hands of you and me.

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It's hard to track that's why it's top currency for the dark web, it's been there currency for ages.

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Yep - not just hard to track - pretty much impossible...

 

But like a knife you can use it for cutting vegetables or mugging old ladies - clearly the second is wrong but is it the knife's fault?

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Great ! See I already forgot about it and was waiting for a paycheck when I could have pad for my last order directly with BTC from my ledger :D

Edit: would have saved 25€ the bank put onto the currency exchange....paypal would have put at least 60€ I am guessing....

Edited by Mat K
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7 minutes ago, Mat K said:

Great ! See I already forgot about it and was waiting for a paycheck when I could have pad for my last order directly with BTC from my ledger :D

Edit: would have saved 25€ the bank put onto the currency exchange....paypal would have put at least 60€ I am guessing....

 

Actually Mat I may have been ahead of the game with this as no one paid using Bitcoin! So I took the option off.

 

What is needed is some more user friendly plug and play style applications that use cryptos as a base but deal in things like £ and $. All the promises made by some of the companies with their ICOs and tokens now need to start coming good.

 

And I have to confess I don't understand how Bitcoin fees work... ie how they are calculated.

 

But if I get time today I'll look further into this.

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2 hours ago, Rob D said:

 

Actually Mat I may have been ahead of the game with this as no one paid using Bitcoin! So I took the option off.

 

What is needed is some more user friendly plug and play style applications that use cryptos as a base but deal in things like £ and $. All the promises made by some of the companies with their ICOs and tokens now need to start coming good.

 

And I have to confess I don't understand how Bitcoin fees work... ie how they are calculated.

 

But if I get time today I'll look further into this.

Yeah could be because I don't remember seeing the option there hehe. Fees can be complicated but if you are just making a transaction yourself just look at these charts, that tell you the current mempool size and you can base the fee amount of that so they go through in the next block and you won't overpay:
 

https://jochen-hoenicke.de/queue/#1,24h

 

but the current mempool is empty (nothing compared to the congested mempool and super high fees [for BTC atleast, still cheap when compared to regular banking and payment world] we had couple months ago) so only 50 sat/B should be enough to get your tx into the next 1st block.

 

Look into these guys they are a good payment service if you know how to set it up:

https://twitter.com/BtcpayServer

https://cryptocoingrowth.com/2017/12/27/btcpay-is-a-better-and-cheaper-bitpay-says-core-developer-nicolas-dorier/

 

 

or these (dunno if they support GBP) Trezor and Alza use them apparently so it should be very good: https://bitcoinpay.com/en/

 

 

 

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