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The real problem is that you consider Bitcoin as an absolute solution for every transaction. I don't know for you, but when I want to transfer cash in my bank
by dwild 13y ago
The real problem is that you consider Bitcoin as an absolute solution for every transaction.
I don't know for you, but when I want to transfer cash in my bank to someone in another country, it take way more than 60 minutes (6 blocks). If I want to do it faster, I use a private service that will do it faster. The same will apply with Bitcoin.
- ashray 13y agoI don't really consider bitcoin to be the absolute solution. But it's certainly flexible enough to be a great solution. With increasing transaction volumes the bitcoin network is lately having some issues confirming transactions with low or no fees. Furthermore, with the appreciation of bitcoin/usd value the minimum transaction fee (hardcoded at 0.0001 BTC) is getting too high. (Rising from 0.05 to 0.08 cents) The thing is, bitcoin is still very much a WIP project, a beta if you will. It still needs more bright people working on it to improve it.