Ninjastic
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
AlexGR
on 30/01/2016, 05:39:36 UTC
Quote from: Richy_T on January 30, 2016, 05:12:47 AM
Quote from: AlexGR on January 30, 2016, 01:58:37 AM
Quote from: satoshi on August 04, 2010, 04:25:36 PM
Bitcoin is practical for smaller transactions than are practical with existing payment methods.  Small enough to include what you might call the top of the micropayment range.  But it doesn't claim to be practical for arbitrarily small micropayments.

Rearranged your bolds for you. Now, what do you consider the top of the micropayment range and what would be a reasonable fee for that? I frequently use Paypal to buy stuff for $1 and I would consider that well into the "payment" range.

It's problematic for stuff of 1$, unless it goes much different for large merchants who have special deals.

The fees are pretty high:



So if I want to buy an mp3 from an artist, and the artist charges me 0.99$ for it, paypal will take ~0.40$ of it. Paypal becomes the artist's 60-40% partner. So this option is clearly not viable. If you go through bitcoin, the artist can keep like 98-95% of the money.