| > did you notice that there wasn't a middleman taking a cut when you sent the money? I mean, do you have any fucking idea how much money businesses pay to the credit card companies This guy noticed https://www.wsj.com/articles/why-you-wont-be-buying-a-coffee... "High fees make it impractical to use bitcoin as a day-to-day currency. Paying a $5 fee to send $10,000 bitcoin isn’t a big deal, but it’s hard to justify buying a cup of coffee with bitcoin if the transaction costs more than the coffee." Realistically, though, from the consumer standpoint Bitcoin is an electronic payments network analogous to credit cards that 1) Takes longer time to confirm (great news when you're standing in a checkout line). 2) Does not have a third party to resolve conflicts and disputes between the consumer and unscrupulous merchant or a straight out scammer. 3) Does not have a rollback mechanism in case of an unauthorized or fraudulent transaction. 4) Does not offer consumer-side rewards - cashback, airline miles, points - for usage. Where do I sign up? |
That's what the new Lighting network is for ( https://lightning.network/ )