Is Bitcoin an alternative way to do transactions or it is only good for investing?
Recently i started working with bitcoin and altcoins and i would say that i have been amazed with the progress of cryptocurrencies. I also decided to accept bitcoins in our Business in Greece which is a Data Recovery Firm. I also added our company in the Bitcoin Merchants Map.
Even though i am impressed by the progress of Bitcoins i found 2 things that seem to make Bitcoin transactions instead of standard currency, very difficult.
One is the volatility of the price of Bitcoins. So if i want to charge my clients 290$ for a service i will accept about 0.1 bitcoin with current pricing. But even though if someone has bitcoins, i find it hard to believe that he will decide to pay with bitcoins instead of standard currency, since Bitcoin price is rising all the time! So after a while, due to the unstable value of bitcoin, my client will regret it if i am paid 0.1 BTC for my service, since probably the price would be double. I don't know about you, but i would prefer to keep my bitcoins instead of using them in daily transactions.
The second is the delay in transactions. I had a transfer that took almost 10 minutes to complete. Imagine if my client is ready to pay for my services and he has done the transaction from his wallet to my wallet. This creates some delays that are troublesome for daily interactions with currency. Or probably i can tell my secretary to go to blockchain and wait for at least 6 verifications?
I would like to see your opinion about that.