Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
mymenace
on 16/11/2017, 20:44:20 UTC
The real question is, the minimum fee we can pay is 1 sat, there is nothing less than 1 sat, right?

No one answered this question. The minimum fee that is less than 1 sat is zero.

That doesn't help much unless the scaling issue has been fixed at that point where zero fees ends up confirming withing a day or two and people only pay fees for faster transactions.

The current minimum relay fee is 0.0001 for any transaction.

Zero cost is the lowest transaction fee for bitcoin, there is a choice of transactions fees for bitcoin determining on how you want your transaction processed.



remember bitcoin works, maybe slow, may take a long time but it works and is the most transparent currency there is, it is up to us to apply the right software to get the right outcome

you want faster transactions - build on top of the blockchain something that can do that

many developers are doing this now

time will tell if this new software can turn, a trial currency that bitcoin is, into being adopted as a viable financial service




For example:
http://www.rsk.co/

RSK is the first open-source smart contract platform with a 2-way peg to Bitcoin that also rewards the Bitcoin miners via merge-mining, allowing them to actively participate in the Smart Contract revolution. RSK goal is to add value and functionality to the Bitcoin ecosystem by enabling smart-contracts, near instant payments and higher-scalability.