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The problem with sending micro payments in Bitcoin is not that you can't divide it into smaller coins, but the fact that unless you pay a transaction fee, your
by snitko 13y ago
The problem with sending micro payments in Bitcoin is not that you can't divide it into smaller coins, but the fact that unless you pay a transaction fee, your transaction may not be included in a block (e.g. confirmed) for a rather long time. Obviously, if the sum of the transaction approaches the amount of fee, it becomes expensive.
Coinbase solves this by having its own DB of transactions and not performing real Bitcoin transactions between its users.
- TylerE 13y agoOf course, at the same time, losing everything worthwhile about bitcoin (and I say that as a skeptic), and basically being a less-trustworthy paypal.
- snitko 13y agoI'm not quite sure what do you mean by saying "losing everything". It's not like anyone ties you to Coinbase. Have your own Desktop wallet for large sums and transactions, use Coinbase to handle small ones.