Exactly! Fee´s are still too damned high. I hope the adoption of Segwit will change that. There are currently so much better cryptocurrencies out there, but I understand why they picked Bitcoin.
RE: Bitcoinization, what is it and is it happening already?
You are viewing a single comment's thread from:
Bitcoinization, what is it and is it happening already?
Hi Geronimo, how much fees are you paying to transfer bitcoin? When I transferred some bitcoins before the last fork my fee was several dollars. When I transferred some a two weeks ago, the fee was just $0.04. The second fee is probably low enough for BTC to be used in day to day transactions, like buying coffee - at least in the richer countries.
I am not sure how or why the fee fluctuates like this.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I agree, with segwit wallets I'm paying fees of just $0.06 cents. This can be improved further but I doubt it's a barrier to entry for Venezuela. Here are some cost of living estimates: https://www.numbeo.com/cost-of-living/country_result.jsp?country=Venezuela
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Wow, some things are very cheap. Beer $0.72, meal $3.00, gasoline $0.01. It's hard to believe the gasoline price.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
they import gasoline?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Pdvsa imports 70% of the gas consumed by the domestic market
The country's refineries process 420,000, of 1.3 million barrels a day of its installed capacity.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
here we are so bad that even gasoline is scarce due to lack of production. they are making long queues to get the fuel.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Segwit WILL eventually help reducing fees, but it's going to take time. Users need to xfer funds to the legacy "1" bitcoin addresses to the segwit "3" format addresses. It would be helpful if the exchanges and payment processors (I'm looking at you Shapeshift) sped up their adoption. Last I checked, segwit txns were now around 5% of the blocks.
Fees are important, but the main positive of Segwit is that it paves the way to 2nd layer protocols like Lightning, etc.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit