Well, currently there is no more than a $3 dollar transaction fee and you are saying people have to pay $30 dollar fee on 10 dollar worth of transactions. You can check for yourself from the
Bitcoin Fee Graph that it was in the previous month when the fee reached to 30 dollars but after that, like after 18 May, the fee begins to reduce and now it ranges from 3 to 5 dollars if i am not wrong. And, i think it is still not that much for those who are making millions of dollars of transactions because they are still paying less than 10 dollars (max) to transfer funds from wallets to other wallets or exchanges.
This is just a simplistic and overly optimistic take.
There are a couple of issues with this take and a lot of people ignore a ton of problems:
- you can't always use just one input if you constantly deal with
BTC, at one point you will have a ton of dust that you will need to consolidate and it will cost you twice as more to use that.
- when you pay with
BTC there are cost for the seller too, he does receive the
BTC free of fees, but he MUST USE them, so he will pay also to move that money, even if it's consolidating, moving to cold storage, moving to an exchange!
But the worst thing is the take that all you have to do is wait, seriously?
That was supposed to be an economically viable alternative when you have to wait for weeks to make a transaction that is finally cheaper than a
WU transfer?
Oh, but it's good for people making millions and moving millions every day! Suddenly from hating the bank and the rich elite controlling the economy, now we cheer for a solution that is 10 times more expensive than a CC but it's doing great at moving billion for a bunch of dollars
This is copium! Pure 100% fentanyl free copium!
Bitcoin needs to scale! That's it! Simple!