How to do micro payments with bitcoin? The transactions need to be verified on the blockchain, but need to minimize the fees.
Yea micropayments are hard because you will lose so much money in fees. If this is for a business I would recommend upping your prices to cover the fees.
yes that is correct micro payments are much expensive in btc but not in other alternative coins. You can use other alt coin that have very less fees.
Both of you are correct, that is why micro transaction is not recommended usually for transferring bitcoin wallet to an exchange because of the high transaction fees. For me every time i do transaction i include multiple wallet to lessen the transaction fees.
Or if you want small amount of fees used faucet because the calculation of their transaction fee is much lesser than usual bitcoin wallet.
As to my experience, faucets or any kind, just making your input address in every of your transaction from an address that you're used to claim those faucets from ridiculously increasing thus, increasing the transaction size. Speaking about the fee calculation, whether from faucet or ordinary wallet there's no actual difference, they use the same blockchain, there's no way that the other one could have smaller fees while having the same transaction size and will get the same speed. At the current time, yes, micropayments is not as effective as it is back then. There's no other way instead of waiting for the further advancement of blockchain's technology to resolve scalability issues. However, the transaction fee has now seem to be gradually decreased mainly caused by the profitability ratio between BTC and BCC close to 1:1 while the difference between price is pretty high. Therefore, miner coming back to bitcoin and increasing the hash power.