5 ms·
The average Bitcoin transaction fee right now is $15, up almost 3000% from a year ago. I can’t really imagine any database that cost you $15 a transaction and t
by ed25519FUUU 6y ago
The average Bitcoin transaction fee right now is $15, up almost 3000% from a year ago. I can’t really imagine any database that cost you $15 a transaction and took 10 minutes to commit/confirm.
Bitcoin is, was, and will probably forever be about low transaction wealth storage.
- allie1 6y agoMore a - still somewhat anonymous crime method of payment, cheap/easy way to move money across borders, an easy way to fund things that should not be funded. Ref: https://www.coindesk.com/north-korea-stole-2-billion-in-crypto-and-fiat-to-fund-weapons-programs https://www.coindesk.com/north-korea-stole-2-billion-in-cryp... Ref: https://www.coindesk.com/bitcoin-is-aiding-the-ransomware-industry https://www.coindesk.com/bitcoin-is-aiding-the-ransomware-in... Would love to see what good it has done so far.
- allie1 6y agoSo downvotes and no comments? Nice
- epinephrinios 6y ago$2B only? That's peanuts. Look at your beloved fiat currency: https://violationtracker.goodjobsfirst.org/industry/financial%20services https://violationtracker.goodjobsfirst.org/industry/financia... And of course, this is not a full account of all the dirty fiat transactions. At least with Bitcoin, those transactions would be public forever.
- allie1 6y agoHow about a time relative comparison? Fiat has been around for how long? In what quantity? How much of that has been crime % wise? Same question about crypto.
- Tenoke 6y agoYou wouldn't need the massive amount of compute going into bitcoin for this hypothetical database. Something a few orders of magnitude cheaper on a separate blockchain or on top of a blockchain can be viable for that use case even if bitcoin specifically isn't.