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If you make a consumer trade with Fidelity, the trading fee is $5. For better or worse, Bitcoin has evolved into a financial-scale product, no longer something
by ISL 9y ago
If you make a consumer trade with Fidelity, the trading fee is $5.
For better or worse, Bitcoin has evolved into a financial-scale product, no longer something one would use to buy $0.50 of potatoes.
(P.S. $0.50 for 2kg of potatoes or a bottle of beer? both of those are a great deal)
- prostoalex 9y ago> Bitcoin has evolved into a financial-scale product, no longer something one would use to buy $0.50 of potatoes. Well, before "evolving" so elegantly it was pitched as a replacement to credit/debit card systems (which would charge a whole lot less for a basic $10 transaction), and prior to that as a final answer to micropayments on the Web (I am guessing charging $0.001 to read an article is off the books now). And somewhere along the evolvement it was supposed to be a payment mechanism for calling other people's APIs and various Web services. What's the next step in this evolution chain? Service for realtors where the transaction fee is 6% of the value of one's house?
- rugffgbv 9y agoI think future cryptocurrency will need to be very scalable, zero fees and instantaneous. At least capable of handling VISA traffic. Ideally something good enough for microtransactions, sending $0.001. So far I've heard about IOTA and Lightning Network. In Europe bank transfers are free. I often send $1 or $2 to roommate bank account for something from refrigerator. Also in shop I pay $2 with VISA card.