Topic: i think bitcoin will not be common for small transcitions - page 4. (Read 2493 times)
With high transaction fee, I think the idea of bitcoin being used in small transactions are gone now. Though it is still cheaper in moving large transaction. We are still waiting for the scaling solution to fix this issue. Though there are some comment that Bitcoin is really not meant for smaller transaction like coffee payment but until this scaling solution is implemented, we never know.
What you think ?
as prices of bitcoin raises up, the ability to do minimum fees transaction also goes up
what you think, how could it be solved?
I THINk people will use other currencies for small transitions, and bitcoin for main balance
as prices of bitcoin raises up, the ability to do minimum fees transaction also goes up
what you think, how could it be solved?
I THINk people will use other currencies for small transitions, and bitcoin for main balance
Maybe I misunderstood your point but this doesn't seem like an issue to me. You can use indefinitely small fractions of bitcoins for transactions so it doesn't seem like a problem.
But now you want to send this bitcoins to someone else... For example $3 to a friend and $2 to your son, etc...
If you'd send $3, there would be fees you have to pay to the miners too, which would mean you would pay more than $3 to send $3 to your friend. If the fees are high, these fees could be $2-$3 actually... And if you don't use these fees? Your transaction could take days up to weeks, or it might just never get confirmed... So you would pay $6 to send $3 to a friend? Not alot of people would do that...
That's why he thinks bitcoin will not be common for small transactions!
What you think ?
as prices of bitcoin raises up, the ability to do minimum fees transaction also goes up
what you think, how could it be solved?
I THINk people will use other currencies for small transitions, and bitcoin for main balance
as prices of bitcoin raises up, the ability to do minimum fees transaction also goes up
what you think, how could it be solved?
I THINk people will use other currencies for small transitions, and bitcoin for main balance
That is already the case, I think the bigger question is what will happen if the fees required go beyond what is reasonable for ordinary transactions.
There are already several solutions that have been suggested but the community can't agree on which one to adopt, bitcoin can't move forward unless an overwhelming majority agree on the changes required.
What you think ?
as prices of bitcoin raises up, the ability to do minimum fees transaction also goes up
what you think, how could it be solved?
I THINk people will use other currencies for small transitions, and bitcoin for main balance
as prices of bitcoin raises up, the ability to do minimum fees transaction also goes up
what you think, how could it be solved?
I THINk people will use other currencies for small transitions, and bitcoin for main balance
Maybe I misunderstood your point but this doesn't seem like an issue to me. You can use indefinitely small fractions of bitcoins for transactions so it doesn't seem like a problem.
What you think ?
as prices of bitcoin raises up, the ability to do minimum fees transaction also goes up
what you think, how could it be solved?
I THINk people will use other currencies for small transitions, and bitcoin for main balance
as prices of bitcoin raises up, the ability to do minimum fees transaction also goes up
what you think, how could it be solved?
I THINk people will use other currencies for small transitions, and bitcoin for main balance
Jump to: