2 ms·

Ok, then send me a $0.001 micro transaction. Same deal.

• ceejayoz 6y ago
  How are you going to convert $0.001 to Euros? Why is receiving $0.001 a matter of urgency that can't wait until tomorrow?
  • koonsolo 6y ago
    Funny how this conversation started how crypto is slow and expensive, and now turned into slow and expensive is OK :P. In a crypto world, you don't need to convert to Euros. Are we in a crypto world yet? No. Will we live in crypto world in the future? Maybe, when it's faster and cheaper ;).
    • ceejayoz 6y ago
      It's a bit of both. For the common transactions people make, crypto is both slow and expensive. I can Zelle someone instantly, for free. In the EU, Australia, etc., bank-to-bank transfers are similarly instant. I don't know that Bitcoin etc. ever get to totally free in this fashion, and it's probably 99.9% of most people's money transfer usage. For the uncommon transactions - like the $50k international transfer you mention - slow tends to be OK, and it's likely gonna have some expense either way. Short version: In contrived scenarios, Bitcoin may come out on top, but that's not likely to convince many people.
      • yazaddaruvala 6y ago
        How many "common transactions" do people use "money" for? All "common transactions" use credit (even when you use a debit card). The banks approve transactions quickly, but reconcile those transactions slowly. It'll be the same for any crypto that takes off but needs to reconcile slowly.
  • pwm 6y ago
    > Why is receiving $0.001 a matter of urgency that can't wait until tomorrow? I'm not making a value judgement whether this is utopian or dystopian but imagine streaming money. Instead of paying for the use of something in advance and in coarse-grained chunks (driving through a tunnel, running on a treadmill in a gym, watching netflix, parking somewhere, etc...) you'd instead stream money throughout usage. On-demand with continuous settlement for the duration.