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Board Beginners & Help
Re: How could micropayments work?
by
hoewer4what
on 20/04/2013, 07:06:03 UTC



I was surprised to learn Bitcoin is not really for micro payments. The fee right now is .0005 which is 6 cents.
That would be ~ 50 cents if the price got to $1000

Are there any ideas how to 1) add another layer to bitcoin , to allow for micropayments (perhaps a 2nd network)
or 2) an altoghter different coin, that is only used for penny-sized transactions?

If 2nd network is used, then you get lower protection because computation resources for hash are split.

The fee amounts and rules changes from time to time, so if bitcoin stabilizes over 1000USD, there will be consensus for new fee rules imho