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If etherium gets down to femtocents per transaction then that would be cool. A usable distributed ledger would be nice for many purposes. But at dollars per tra
by prepend 5y ago
If etherium gets down to femtocents per transaction then that would be cool. A usable distributed ledger would be nice for many purposes. But at dollars per transaction, there’s no real use cases.
Imagine if my sql db was free but charged me $10 for any write transaction. That would suck. When the price gets to an operational level, people will use it.
I think the price it will eventually get to is Napster/BitTorrent-level.
- vmception 5y agoCharged me $10 *and doesn’t charge me for storage I dump a ton of crap on blockchains and just set the transaction fee low until someone takes it Also check out gas tokens as a concept, you can prebuy gas when gas prices are low and subsidize your future time sensitive transactions when gas prices are high
- prepend 5y agoI’ve dumped stuff at low transaction fees and had it stay there forever. Try setting 1 cent as your transaction fee and see if anyone picks that up. This works great if you already prebought way back when, but is not suitable for any current use case I can think of. And certainly not usable by many. There’s not many situations where $10 for a few bytes is needed, even with the cool feature of free storage forever. For comparison, 1GB is 2 cents per year on AWS deep glacier. And I trust AWS to be around in a hundred years more than ethereum. Not to mention that storing 1GB costs a fortune in transaction fees.