31–40 of 71 posts
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And that is why gold is a horrible day-to-day currency.
One benefit of gold is that you can make more of it every day by placing your coins in a bag and shaking. The energy you put into the bag causes more gold to be produced in the form of dust within the bag. Helps work against inflation! https://en.wikipedia.org/wiki/Methods_of_coin_debasement
This is good to see for Coinbase users. > A common piece of feedback from customers is transaction fees for sending Bitcoin on Coinbase are too high. For example, around $2.50 for a 1:1 send last week or so. This is on top of the cut they take for purchases. Clients that implemented SegWit were able to charge much lower transaction fees (~$0.15 for confirmation in 20 minutes -- less for longer waits) for the same kin…
Sadly still nowhere close to the free transaction up to €15'000 within of 10 seconds that’s being rolled out across the European banks right now. Bitcoin was supposed to be an improvement upon existing payment methods, so far, it’s not quite there yet.
Layer one will never scale to superior global currency. It's an immutable, append only database. DCS is a trade-off.
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What is this method of transaction? Credit cards?
SEPA Instant Credit Transfer. The Eurozone has had for many years a free transfer system between bank accounts, nowadays thanks to recent upgrades it's not only free, but also instant. And banks now have to provide an open API to all functionality as well, so that it's very easy to build technology on top to allow people to just quickly transfer money to someone, or pay online with it. But technically, it's just inte…
Eurozone banking is far ahead of the US in this regard :-(. Wires still cost $20-25 per here and ACH takes days.
This is good to see for Coinbase users. > A common piece of feedback from customers is transaction fees for sending Bitcoin on Coinbase are too high. For example, around $2.50 for a 1:1 send last week or so. This is on top of the cut they take for purchases. Clients that implemented SegWit were able to charge much lower transaction fees (~$0.15 for confirmation in 20 minutes -- less for longer waits) for the same kin…
Sadly still nowhere close to the free transaction up to €15'000 within of 10 seconds that’s being rolled out across the European banks right now. Bitcoin was supposed to be an improvement upon existing payment methods, so far, it’s not quite there yet.
Your proposed "better" transaction method is worse in many ways that are important to people on the Internet, namely tracking, non-psuedonoymous, not the physical representation of the money, and many other related issues.
It isn't all about speed and cost for people who transact in cryptocurrency.
I'm glad to see the adoption of such changes. The 'hodl' crowd have changed their talking points to 'Bitcoin is an asset, not a currency' but as far as I'm concerned, if that's how it ends up--if you can't pragmatically buy a $2 cup of coffee with BTC--it would really puncture the immense promise of decentralized financial tech.
You can't buy a cup of coffee with a slice of a gold bar either!
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Segwit is simply a new transaction format where the txid can be calculated before signing. It has nothing to do with centralization.
segwit will indirectly lead to centralization... when lightning network gets fully implemented
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> With what I've read about SegWit, it's a practical solution to improve transaction throughput by moving transactions off blockchain SegWit has nothing to do with this — maybe you are thinking of Lightning Network?
Possibly. I guess I need to study it a bit more in depth, usual grad-level crypto & distributed algorithms aren't sufficient.
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SEPA Instant Credit Transfer. The Eurozone has had for many years a free transfer system between bank accounts, nowadays thanks to recent upgrades it's not only free, but also instant. And banks now have to provide an open API to all functionality as well, so that it's very easy to build technology on top to allow people to just quickly transfer money to someone, or pay online with it. But technically, it's just inte…
> But technically, it's just international wire transfers, for free, instantly, with an open API. Like most banks already provided. Eurozone banking is far ahead of the US in this regard :-(. Wires still cost $20-25 per here and ACH takes days.
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> But technically, it's just international wire transfers, for free, instantly, with an open API. Like most banks already provided. Eurozone banking is far ahead of the US in this regard :-(. Wires still cost $20-25 per here and ACH takes days.
ACH will be same day next month.