Post
Topic
Board Development & Technical Discussion
Re: How to do micro payments with bitcoin?
by
cellard
on 10/01/2018, 16:04:06 UTC
OK, you want the micro tx's to be verified on the Blockchain and that is physically impossible with Bitcoin at the moment. The

best alternative would be to use something like Xapo with off-chain tx's {instant & free} and then withdraw that with one tx

onto the Blockchain. {high fees come into play again} At least with this method, you would be doing micro payment and the

balance will be reflected on the Blockchain.  Wink

Xapo is a scam, don't use it at all, Bitfury and Coinbase and co are also not to be trusted, they are behind the BCash agenda.

If you really want to transact offchain then LN was designed for that, the problem is to fund the channel you still need an on-chain transaction, and once you use all the funds, you need to recharge it again, and typically you don't want to have big amounts out of your cold storage... fees need to go down on-chain. Segwit, MAST, Schnorr.. could make fees go down a lot, but that is a slow process, and some people are paranoid about segwit's safety.

Whatever the outcome, BCash is not the solution.