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I just paid using Bitcoin Cash (BCH), low fees and simple to integrate ;)

by petefromnorth 4y ago

anonporridge 4y ago
Cool story. Doesn't scale. Layer up.
- fidelramos 4y ago
  Bitcoin Cash does currently scale up to Paypal's daily number of transactions while keeping transaction fees below $0.01. [0] Scalability tests are underway [1] to detect bottlenecks for increasing the block size further, which should take it closer to Visa's transaction capacity. The scalability roadmap aims for eventually supporting 50 daily transactions for each human in the planet, again keeping fees low, which is key for Bitcoin to be used as cash. Check out [2] if you want to read about the technical feasibility of this (even with today's hardware, it will be even easier in the future). I understand the skepticism about the ability to scale Bitcoin after the Bitcoin Core team has been pushing for years for keeping block sizes low, but please let's consider facts rationally and maintain a civil discussion. [0] https://news.bitcoin.com/bitcoin-cash-stress-test-goes-beyond-24-hours-setting-new-records/ https://news.bitcoin.com/bitcoin-cash-stress-test-goes-beyon... [1] https://bitcoincashresearch.org/t/assessing-the-scaling-performance-of-several-categories-of-bch-network-software/754 https://bitcoincashresearch.org/t/assessing-the-scaling-perf... [2] https://blog.vermorel.com/journal/2017/12/17/terabyte-blocks-for-bitcoin-cash.html https://blog.vermorel.com/journal/2017/12/17/terabyte-blocks...
  - nottorp 4y ago
    > Bitcoin Cash does currently scale up to Paypal's daily number of transactions while keeping transaction fees below $0.01. On this here website there was a talk a couple months ago that led me to believe that paying $150 worth of bitcoin costs ... $150 if you want it done at credit card speed. Have things changed?
    - fidelramos 4y ago
      Without any other information I must suppose you are talking about Bitcoin (BTC), which has limited scalability and therefore high transaction fees when there is high demand. Bitcoin Cash BCH has low fees, below $0.01 as I mentioned. You can see a graph of historic average transaction fees at https://bitinfocharts.com/comparison/transactionfees-btc-bch.html#3y https://bitinfocharts.com/comparison/transactionfees-btc-bch...
    - andirk 4y ago
      Credit cards take days to complete the transaction. Much like BTC, there are near-instant checks to make sure the desired transaction _will eventually and most likely_ be valid.
      - gasull 4y ago
        But that's not the user experience.
gasull 4y ago
The UX of BCH beats BTC and ETH by very far.

I just paid using Bitcoin Cash (BCH), low fees and simple to integrate ;)

anonporridge 4y ago

Cool story. Doesn't scale. Layer up.

fidelramos 4y ago
Bitcoin Cash does currently scale up to Paypal's daily number of transactions while keeping transaction fees below $0.01. [0] Scalability tests are underway [1] to detect bottlenecks for increasing the block size further, which should take it closer to Visa's transaction capacity. The scalability roadmap aims for eventually supporting 50 daily transactions for each human in the planet, again keeping fees low, which is key for Bitcoin to be used as cash. Check out [2] if you want to read about the technical feasibility of this (even with today's hardware, it will be even easier in the future). I understand the skepticism about the ability to scale Bitcoin after the Bitcoin Core team has been pushing for years for keeping block sizes low, but please let's consider facts rationally and maintain a civil discussion. [0] https://news.bitcoin.com/bitcoin-cash-stress-test-goes-beyond-24-hours-setting-new-records/ https://news.bitcoin.com/bitcoin-cash-stress-test-goes-beyon... [1] https://bitcoincashresearch.org/t/assessing-the-scaling-performance-of-several-categories-of-bch-network-software/754 https://bitcoincashresearch.org/t/assessing-the-scaling-perf... [2] https://blog.vermorel.com/journal/2017/12/17/terabyte-blocks-for-bitcoin-cash.html https://blog.vermorel.com/journal/2017/12/17/terabyte-blocks...
- nottorp 4y ago
  > Bitcoin Cash does currently scale up to Paypal's daily number of transactions while keeping transaction fees below $0.01. On this here website there was a talk a couple months ago that led me to believe that paying $150 worth of bitcoin costs ... $150 if you want it done at credit card speed. Have things changed?
  - fidelramos 4y ago
    Without any other information I must suppose you are talking about Bitcoin (BTC), which has limited scalability and therefore high transaction fees when there is high demand. Bitcoin Cash BCH has low fees, below $0.01 as I mentioned. You can see a graph of historic average transaction fees at https://bitinfocharts.com/comparison/transactionfees-btc-bch.html#3y https://bitinfocharts.com/comparison/transactionfees-btc-bch...
  - andirk 4y ago
    Credit cards take days to complete the transaction. Much like BTC, there are near-instant checks to make sure the desired transaction _will eventually and most likely_ be valid.
    - gasull 4y ago
      But that's not the user experience.

gasull 4y ago

The UX of BCH beats BTC and ETH by very far.