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Except that bitcoin transaction cost is what, $10 or $15 now? There's no way "unbanked" people will benefit from that, at all.
by darkstar999 9y ago
Except that bitcoin transaction cost is what, $10 or $15 now? There's no way "unbanked" people will benefit from that, at all.
- montecarl 9y agoYes. For right now, the demand for transactions is greatly outstripping the fixed supply of transactions that the network can provide. Nobody has convincingly solved the problem (IOTA, I'm looking at you...). Altcoins don't have this problem yet either because they are not as widely used and those that can do more transactions per second have blockchains that would be growing very quickly in size if the blocks were close to full. None of the current globally distributed trustless ledgers cannot support a huge number of transactions per second. We will need new technologies, possibly on top of bitcoin, or through new technology.
- Tepix 9y agoHe wrote crypto, not bitcoin.
- KasianFranks 9y agoGood point.
- matt4077 9y agoYet the economists they're mocking were asked about bitcoin.
- Rmilb 9y agoThere have been low transaction fees in the past and they can return. Currently that is not the case.