Quote from: limopc on October 04, 2017, 12:32:51 AM

The goal is to have Bitcoin and crypto as a currency, where everybody has access to, easily cheaply transfer and transact,... etc.

The current situation and problems in my opinion:

2- transaction cost, sending a crypto from someone to another, it is relatively high, so not still convenient to buy a bottle of water or a pizza and it costs the same amount to pay the seller. This simply means the buyer would pay double the price. So, still not convenient as a currency compared to FIAT.

I wonder if this can be sorted out as follows:
All wallets should have a feature like Ok, this public address is sending to this public address 0.05 USD, let me send with it a private key for this transaction for this amount in particular. Sending through whatever communication, Bluetooth, WiFi, nfc, Sms, whatever. No need for blockchain and mining fees.

Maybe (and here I expect some miners to try to shoot me), maybe we can use wallets already running on thousands of individual mobile phones to do the job of verification. Everybody in the individual users wins. Almost instant, no transaction cost, so it will be convenient to buy a bottle of water with bitcoins.

The receivers wallet may take the senders public address and check it on the blockchain, if it really exists, if it really has the amount transferred. If true, it makes one entry with one single confirmation.

Hopefully I did not offend anybody, especially miners. Miners should think, what profit would be if the world is actually transacting in crypto.

I know many will see the above as nonsense, a few might see an idea, some might agree some might not.

But constructive discussion will always give the fruits.

the transaction fee is a sort of service fee from the miners and the witness signer of the the ledger from the blockchain in order to secure your transaction free from hacks and tampering. adding security features of bitcoin takes a lot of cost. If you want sort it out like verification is thru phone or any devices nearby that are bitcoin users are the one who verifies your transaction without the need of miners signatures on the blockchain, that's is what we called off-chain verification. Lightning Network trying to proposed this kind of solution to reduce transaction fees and speed up transaction capacity per second,the only problem is it needs another centralized network or server that need to broadcast or sending the data back to the mining pool and acknowledges the miner that those transactions were verified from the mobile devices but it does violates the bitcoin protocol of decentralization, an off-chain verification is possible but it can be a different entity not related to bitcoin mining.