3 ms·
Micropayments may be a great mechanism to reduce spam, if you can get people to pay at all. Bitcoin is a terrible mechanism for micropayments. Right now, to ge
by oarsinsync 7y ago
Micropayments may be a great mechanism to reduce spam, if you can get people to pay at all.
Bitcoin is a terrible mechanism for micropayments. Right now, to get a transaction completed in 10 - 30 minutes (next - 3 blocks fee), it costs $0.77. If you're happy to wait an hour, it costs $0.36. (Source: https://billfodl.com/pages/bitcoinfees https://billfodl.com/pages/bitcoinfees)
Disclaimer: I am long bitcoin.
- thinkmassive 7y agoLightning Network fixes this with nearly instant settlement and units divisible to the microsatoshi.
- BlueTemplar 7y agoHow is it coming up?
- app4soft 7y agoHere is POC of cryptocurrency donation daemon, with example usage for micro-payments for GitHub contributors.[0] [0] https://github.com/jollheef/donate https://github.com/jollheef/donate
- toomim 7y agoTrue, but payment channels can solve that. They work and are implemented in some clients and servers, but haven't become too popular yet, except in the (not working very well) lightning network.