Not even sure why I’m bothering replying to this bot, but guess misinformation should not be left alone
It’s not instant it takes a long time until enough confirmations have been done. It’s not even clear how many confirmations are enough.
It’s only instant if you use the lightning network. Lightning network is literally a traditional bank transaction mechanism on top of bitcoin. If you are arguing for using lightning transactions, what is the point of bitcoin in the first place?
fees are huge and will only increase in the future.
You lock up BTC in a lightning channel, you can then send that BTC to anybody via lightning,
You can not send the BTC to just about anybody. Only to people with whom you have a channel open. If you want to send to anybody you need to hop through other channels using middlemen. That sounds very similar to the function of a bank.
The last time I had to send 30 Euro to someone, I had to pay 5 Euro for gas fees. It used to be even worse. Your statements are bullshit, we all know what the usual use cases are (other than speculation)
5 Euros seems like a pretty standard fee for a Bitcoin transfer, which is insanely cheap for large transfers. Your 30 Euro transaction is more suitable for the lightning network, which handles off-chain transactions for much lower fees. The person you were responding to was specifically talking about the lightning network.
it would be nice if the price of bitcoin was stable enough that when I sent $100 to somebody it wouldn’t be a gamble whether what they actually received was double or half that
I don’t care about amount of BTC, I care about amount of dollars. It may also surprise you to learn that I don’t care about countries where the currency is so unstable that a currency that can double in value in the space of a few months has it beat.
If bitcoin is going to become usable as a currency, even in niche circles, it has two problems to solve: energy use (three quarters of a megawatt hour per transaction, according to Forbes!) and conversion stability. I don’t want keeping money in my wallet to be a high risk investment.
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Not even sure why I’m bothering replying to this bot, but guess misinformation should not be left alone
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I apologize, it looked like copy pasta.
You can not send the BTC to just about anybody. Only to people with whom you have a channel open. If you want to send to anybody you need to hop through other channels using middlemen. That sounds very similar to the function of a bank.
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The last time I had to send 30 Euro to someone, I had to pay 5 Euro for gas fees. It used to be even worse. Your statements are bullshit, we all know what the usual use cases are (other than speculation)
5 Euros seems like a pretty standard fee for a Bitcoin transfer, which is insanely cheap for large transfers. Your 30 Euro transaction is more suitable for the lightning network, which handles off-chain transactions for much lower fees. The person you were responding to was specifically talking about the lightning network.
Bitcoin has collapsed like three times in the last like 7 years dawg.
Sure, I suppose, if you count things like “destroying the environment” and “lining Nvidia’s pockets” as “use cases”.
Hey, you forgot being the world’s slowest payment processor
and one of the world’s most scammer-friendly and least-anonymous
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it would be nice if the price of bitcoin was stable enough that when I sent $100 to somebody it wouldn’t be a gamble whether what they actually received was double or half that
deleted by creator
I don’t care about amount of BTC, I care about amount of dollars. It may also surprise you to learn that I don’t care about countries where the currency is so unstable that a currency that can double in value in the space of a few months has it beat.
If bitcoin is going to become usable as a currency, even in niche circles, it has two problems to solve: energy use (three quarters of a megawatt hour per transaction, according to Forbes!) and conversion stability. I don’t want keeping money in my wallet to be a high risk investment.