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And it is only free as long as mining new blocks covers the costs of running the network, after that you will have to pay fees.
by danbruc 12y ago
And it is only free as long as mining new blocks covers the costs of running the network, after that you will have to pay fees.
- awt 12y agoAgreed. Bitcoin is not competitive for small transactions. Given the average transaction confirmation time of 7 minutes (which will never go down) it clearly was not meant to be.
- aianus 12y agoOnce the major mining pools receive the transaction, it's very unlikely to be double-spent. If you try to purchase something online from a merchant accepting Bitcoin via Coinbase or Bitpay, you'll notice the transaction completes almost instantaneously.