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Transaction fees are typically less than the equivalent of a penny. If I want to give 100 people each a nickel, how much would that cost in Bitcoin, and how m
by bdamm 12y ago
Transaction fees are typically less than the equivalent of a penny. If I want to give 100 people each a nickel, how much would that cost in Bitcoin, and how much would that cost in USD via Visa? Hint: You can't even do it over Visa, because the receiver is liable for the transaction fees, which have minimums much higher than a nickel.
- dragontamer 12y agoWhich is why the article mentions Dwolla as the micropayment structure. Answer to your question btw, is $0 if you give less than $10 to everyone. You can easily send $5 to 5000 different people in Dwolla, since it takes advantage of the ACH system already in place in the US. I think he has a very strong point about micropayments. Afterall, DOGE outcompeted BTC due to those transaction fees and carved out a niche within the alt-coins explicitly because BTC's fees are a bit high IIRC.