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In 2014 he said that Bitcoin was the future of Micropayments. In 2028 he will be saying that some other buzzword is the future.
by gitfan86 5y ago
In 2014 he said that Bitcoin was the future of Micropayments. In 2028 he will be saying that some other buzzword is the future.
- tome 5y ago> In 2014 he said that Bitcoin was the future of Micropayments I found a reference for anyone interested: https://dealbook.nytimes.com/2014/01/21/why-bitcoin-matters/ https://dealbook.nytimes.com/2014/01/21/why-bitcoin-matters/ A third fascinating use case for Bitcoin is micropayments, or ultrasmall payments. Micropayments have never been feasible, despite 20 years of attempts, because it is not cost effective to run small payments (think $1 and below, down to pennies or fractions of a penny) through the existing credit/debit and banking systems. The fee structure of those systems makes that nonviable. All of a sudden, with Bitcoin, that’s trivially easy. Bitcoins have the nifty property of infinite divisibility: currently down to eight decimal places after the dot, but more in the future. So you can specify an arbitrarily small amount of money, like a thousandth of a penny, and send it to anyone in the world for free or near-free.
- rideontime 5y agoGuy didn't know about the transaction fees and wait times, I guess?