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I was about to make a comment asking how viable this could be in poor nations due to btc transaction fees, but apparently they are way down compared to a few mo
by voldacar 5y ago
I was about to make a comment asking how viable this could be in poor nations due to btc transaction fees, but apparently they are way down compared to a few months ago. Average fee now is about 2$ compared to 10-20$ several weeks ago. I'm glad the Nigerians are actually using btc for its intended function!
- exdsq 5y agoStill too high though! There are some layer 2 systems that sit on-top of blockchain that help reduce the fees. Hopefully one day it'll be cheap for developing countries :)
- tommek4077 5y agoYou don't need to pay transaction fees on every payment. If you and your target are using the same vendor (no private wallet), there is no fee and no delay.
- Boltgolt 5y agoSo all we need to do is have everyone use the same centralized vendor/institution and bitcoin is fast and free!! Wait a second...
- tommek4077 5y agoYeah, like everyone is using the same bank. Wait a second...
- Dylan16807 5y agoThe amount of benefit is exactly proportional to the centralization. If you argue that not too many people have the same bank, you're also arguing that not too many people get free transactions.