3 ms·
Because a 30 minute transfer time, or $1 fee means you can’t do small and fast transactions (which are the vast majority of transactions for a traditional curre
by Closi 6y ago
Because a 30 minute transfer time, or $1 fee means you can’t do small and fast transactions (which are the vast majority of transactions for a traditional currency).
This means Bitcoin is simply not a good currency for most transactions.
- alwillis 6y agoFirst, it usually doesn't make sense to buy coffee with bitcoin. Why would I do that if I had the choice to use depreciating fiat instead? As a currency, the dollar is great for quick, low-cost transactions. But it's no longer a good store of value. Besides, I can use my Cash App debit card or app and get cash back in bitcoin, which is rapidly appreciating in value [1]. As I already mentioned, lightning network provides fast (less than a few seconds) and cheap (fractions of pennies) off-chain bitcoin transactions—http://lightning.network/ http://lightning.network/. [1] https://cash.app/help/us/en-us/30982-bitcoin-boost https://cash.app/help/us/en-us/30982-bitcoin-boost