Topic: Comparison of buying a cup of coffee with crypto - page 3. (Read 392 times)
Bitcoin and altcoins can't do anything that your normal payment system does. Why would a rational consumer send money to buy crypto that needs network block confirmation to verify it and in the process takes time, before you purchase a $2.00 coffee? With these comparison , Bitcoins will cost higher than other altcoins for the same quantity of coffee .
It's not a fair comparison if you take one payment system when it's performing fine, and then pick the worst time of another payment system and compare the two. Both should be compared when both are operating at their "normal" rates.
Plus, it's up to the sender to include what ever fees they want. Fees aren't absolutely mandatory.
Plus, it's up to the sender to include what ever fees they want. Fees aren't absolutely mandatory.
This is for experimental purposes and do not prefer using one over the other.
But it does show bitcoin to cost the most and take the longest amount of time to complete a transaction.
These statistics were tallied durin the month of February this year when the blockchain was overly congested and transaction fees were at its all time high.
Do not know what the numbers of the other two they compared them too are at now after lightening network has been implemented. Causing transaction costs to be 2000x less for bitcoin.
Bitcoin has limit on block size and it is most used network a side from ethereum which has a lot of transactions due to smart contracts etc. But all in all SegWit and Lightning network doesn't mean a thing if they are activated as long as majority don't care to use them. As you have many altcoins that are faster with less network activity fees are way cheaper, yet you have even crypto such as IOTA, NANAO that offer free less transactions.
This is for experimental purposes and do not prefer using one over the other.
But it does show bitcoin to cost the most and take the longest amount of time to complete a transaction.
These statistics were tallied durin the month of February this year when the blockchain was overly congested and transaction fees were at its all time high.
Do not know what the numbers of the other two they compared them too are at now after lightening network has been implemented. Causing transaction costs to be 2000x less for bitcoin.
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