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It's all good and well that bitcoin is cheaper than credit cards for billion dollar transactions, but that is not really important for all of us non-billionaire
by WJW 4y ago
It's all good and well that bitcoin is cheaper than credit cards for billion dollar transactions, but that is not really important for all of us non-billionaires. For smaller amounts, the fixed cost of a bitcoin transaction can make it a significant amount of the total. L2 networks would be nice, but "work is being done" for years now so let's wait to see if they ever get that working properly before touting possible future innovations as a current benefit.
I don't imagine anyone ever uses credit cards for billion dollar transfers anyway, normal banking is good enough for that. I just checked and the business account that I use for contracting has EUR 0.10 flat fee costs per transfer to anywhere in the SEPA region.
- hajhatten 4y ago> but that is not really important for all of us non-billionaires. For smaller amounts, the fixed cost of a bitcoin transaction can make it a significant amount of the total. L2 networks would be nice, but "work is being done" for years now so let's wait to see if they ever get that working You gotta get up to speed with these things then. A lot has been happening the past year. Lightning in it self is used all over the world by small vendors in developing and western countries. And it's a mix of using a service provider for using this (usually in the west) to self custodian where they cannot motivate the cost. It was one of the big things needed before El Salvador's legal tender roll out. I can give you more examples if you want. https://twitter.com/HODLneverSODL/status/1518134911244320769?t=KA-FQC09Ji3B4WWRotJIgw&s=19 https://twitter.com/HODLneverSODL/status/1518134911244320769... https://twitter.com/CoinCornerMolly/status/1532314399762948096?t=n9j7mkzby5Nv9SPRESgiug&s=19 https://twitter.com/CoinCornerMolly/status/15323143997629480...