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There's still counterparty risk: I could start paying the wifi hotspot but there is no guarantee that it will let me use what I've paid for. At any point, the n
by joosters 9y ago
There's still counterparty risk: I could start paying the wifi hotspot but there is no guarantee that it will let me use what I've paid for. At any point, the next microtransaction could fail because the counterparty decides to steal my cash.
- tlrobinson 9y agoMy point is if you can make the microtransactions arbitrarily small you can make the counterparty risk negligible. If I’m sending 1 cent micropayments continuously as long as the services are being delivered (e.x. 1 cent per 1 MB WiFi, 0.1 kWh electricity, or 0.5 oz gasoline, etc) then the most that can be stolen is 1 cent, so why would they bother?