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Because payments are a for-profit industry. If we had some kind of digital money that could be transferred without any fees (because, say, the infrastructure wa
by egypturnash 6y ago
Because payments are a for-profit industry. If we had some kind of digital money that could be transferred without any fees (because, say, the infrastructure was operated by the government, under the assumption that a medium of exchange that doesn’t take a few percent off every transaction is a Public Good we should have) then it would be much easier to see if micropayments are actually a thing that anyone is willing to do.
- wppick 6y agoNothing is stopping the payment provider from taking a percentage. I pay 0.5 cents for an article and service provider takes 0.1 cents. Still $4 RPM for the news site after a 20% fee!
- kube-system 6y agoThe US already has a government-facilitated money transfer system that was specifically created to make small electronic money transfers accessible for more people. https://en.wikipedia.org/wiki/ACH_Network https://en.wikipedia.org/wiki/ACH_Network
- beefman 6y agoNano is a cryptocurrency that is completely feeless. It's the only feeless payment system I know of. (This is not an endorsement, though the handful of transactions I've done with it over the past couple years worked as advertised.)
- strombofulous 6y agoHow are miners incentivized to maintain the network?
- rkho 6y agoI was curious and looked into this myself. According to Coinbase[1]: > users provide the computational power required to verify their own transactions, allowing transactions to be processed without fees [1] https://www.coinbase.com/price/nano https://www.coinbase.com/price/nano
- FalconSensei 6y agoSo, if someone is on their phone and wants to read an article (thus paying 1 cent for it), they need to either open the mining app on their phones, or turn on their computers?