4 ms·

A problem to solve? It is not uncommon for companies to loose over 2% of revenue in banking fees and other enforced banking inefficiencies for transactions that

A problem to solve? It is not uncommon for companies to loose over 2% of revenue in banking fees and other enforced banking inefficiencies for transactions that could be handled much more cheaply and efficently with crypto solutions

simiones 3y ago
Yes, because both BTC and ETH are well known for how cheap transactions are.
- nwienert 3y ago
  Typically less than half a percent, often lower.
  - simiones 3y ago
    As far as I see, average ETH gas prices have been between ~20 and ~170 USD in the last few months. So, by my understanding (happy to be corrected) for a 1k USD transaction, that's between 2% and 17%. It does get pretty good if you're transacting huge sums. It's abysmal for day-to-day payments.
    - medo-bear 3y ago
      do you have any experience sending eth?
usrbinbash 3y ago
> not uncommon for companies to loose over 2% of revenue in banking fees and other enforced banking inefficiencies Do you have a source for that number? And even forgetting that "crypto" comes with both delays and transaction fees, it is also known to be able to lose most of it's value basically overnight. So unless companies want to wake up bankrupt, they'd have to constantly change real money into tokens and back again for their transactions. I wonder how efficient that would be.
- medo-bear 3y ago
  not more than my experience, which you can trust or not. if it means anything to you my experience relates to banks in the EU. i also deal alot in multiple currencies crypto delays are minutes to hours. banking delays are a matter of days. just this week i needed to do a significant transfer with my bank. because i did the transfer after 16:30 (in branch!) i needed to wait until 06:00 for the transfer to happen because it was outside transfer hours. if some crypto coin functioned like this it would be laughed at

4 ms·

A problem to solve? It is not uncommon for companies to loose over 2% of revenue in banking fees and other enforced banking inefficiencies for transactions that

by medo-bear 3y ago

simiones 3y ago
Yes, because both BTC and ETH are well known for how cheap transactions are.
- nwienert 3y ago
  Typically less than half a percent, often lower.
  - simiones 3y ago
    As far as I see, average ETH gas prices have been between ~20 and ~170 USD in the last few months. So, by my understanding (happy to be corrected) for a 1k USD transaction, that's between 2% and 17%. It does get pretty good if you're transacting huge sums. It's abysmal for day-to-day payments.
    - medo-bear 3y ago
      do you have any experience sending eth?
usrbinbash 3y ago
> not uncommon for companies to loose over 2% of revenue in banking fees and other enforced banking inefficiencies Do you have a source for that number? And even forgetting that "crypto" comes with both delays and transaction fees, it is also known to be able to lose most of it's value basically overnight. So unless companies want to wake up bankrupt, they'd have to constantly change real money into tokens and back again for their transactions. I wonder how efficient that would be.
- medo-bear 3y ago
  not more than my experience, which you can trust or not. if it means anything to you my experience relates to banks in the EU. i also deal alot in multiple currencies crypto delays are minutes to hours. banking delays are a matter of days. just this week i needed to do a significant transfer with my bank. because i did the transfer after 16:30 (in branch!) i needed to wait until 06:00 for the transfer to happen because it was outside transfer hours. if some crypto coin functioned like this it would be laughed at