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If the Bitcoin community gets lightning network off the ground (it's very close), it solves the problem of micropayments. This is a problem many people likely
by aeternus 8y ago
If the Bitcoin community gets lightning network off the ground (it's very close), it solves the problem of micropayments. This is a problem many people likely have that they are not aware of. Ability to pay a fraction of a cent for each article you read online could eliminate the need for both annoying paywalls & ads.
Traditional payment systems are actually quite expensive, you just don't see it since the merchant pays. Typically 2.5% + $.10 for most credit cards. That cost is still baked into prices & goods.
Safer is definitely true though, it's just too hard for the average person to properly secure cryptocurrencies.
- phobosdeimos 8y agoWell I wasn't talking about CC, those are daylight robbery. €0,056 flat transaction fee is the target that I challenge crypto to beat. Thats what my employer pays to banks.
- brandonsometig 8y agoYou can make 1 Satoshi payments on the Lightning network already at a cost of $0.00007.
- davidgerard 8y ago> it solves the problem of micropayments. Well, no - the problem of micropayments is that users consistently hate them. Users only put up with micropayments when there's literally no other option. Vendors keep bringing up the idea of micropayments entirely on the basis of "it would be cool for us if they worked." This is not enough - because the problem is social, not technical.