JPage



Offline



Activity: 400

Merit: 101









Full MemberActivity: 400Merit: 101 Micro Payments Dead? August 08, 2015, 07:00:17 PM #1 One of the very big hopes for Bitcoin was the notion of enabling 'micropayments'. Today, one can't practically pay 50 cents with Visa because there is a 30 cent swipe fee and a percent fee on top.



However, now with the stalwarts of 1MB blocksize limits, it looks like we are going to have to start setting our miners fees to (remarkably enough): 30 cents.



Does this spell an end to micropayments?

AgentofCoin



Offline



Activity: 1092

Merit: 1001









LegendaryActivity: 1092Merit: 1001 Re: Micro Payments Dead? August 08, 2015, 08:02:22 PM #2 Quote from: JPage on August 08, 2015, 07:00:17 PM One of the very big hopes for Bitcoin was the notion of enabling 'micropayments'. Today, one can't practically pay 50 cents with Visa because there is a 30 cent swipe fee and a percent fee on top.



However, now with the stalwarts of 1MB blocksize limits, it looks like we are going to have to start setting our miners fees to (remarkably enough): 30 cents.



Does this spell an end to micropayments?



Only time will tell.

I believe micro-payments are what will really push Bitcoin/bitcoin to mass adoption one day.

Any amount, around the world, any time, without trusted parties. That is special.

But as I have said, only time will tell. Only time will tell.I believe micro-payments are what will really push Bitcoin/bitcoin to mass adoption one day.Any amount, around the world, any time, without trusted parties. That is special.But as I have said, only time will tell. I support a decentralized & unregulatable ledger first, with safe scaling over time.

Request a signed message if you are associating with anyone claiming to be me.

JPage



Offline



Activity: 400

Merit: 101









Full MemberActivity: 400Merit: 101 Re: Micro Payments Dead? August 08, 2015, 08:24:40 PM #3 Quote from: AgentofCoin on August 08, 2015, 08:02:22 PM Quote from: JPage on August 08, 2015, 07:00:17 PM One of the very big hopes for Bitcoin was the notion of enabling 'micropayments'. Today, one can't practically pay 50 cents with Visa because there is a 30 cent swipe fee and a percent fee on top.



However, now with the stalwarts of 1MB blocksize limits, it looks like we are going to have to start setting our miners fees to (remarkably enough): 30 cents.



Does this spell an end to micropayments?



Only time will tell.

I believe micro-payments are what will really push Bitcoin/bitcoin to mass adoption one day.

Any amount, around the world, any time, without trusted parties. That is special.

But as I have said, only time will tell.

Only time will tell.I believe micro-payments are what will really push Bitcoin/bitcoin to mass adoption one day.Any amount, around the world, any time, without trusted parties. That is special.But as I have said, only time will tell.

Machine-to-machine payments are hugely important concept. This will be totally suppressed if we get stuck with the same high transaction fees that Visa has. Side chains tend to be unreliable and proprietary letting a 'middle man' tax traffic on that medium. I think we should be careful to preserve the notion of micropayments and let blocksize go to 20MB to avoid log jams and corresponding high miner fees. Machine-to-machine payments are hugely important concept. This will be totally suppressed if we get stuck with the same high transaction fees that Visa has. Side chains tend to be unreliable and proprietary letting a 'middle man' tax traffic on that medium. I think we should be careful to preserve the notion of micropayments and let blocksize go to 20MB to avoid log jams and corresponding high miner fees.

Meuh6879



Offline



Activity: 1512

Merit: 1010









LegendaryActivity: 1512Merit: 1010 Re: Micro Payments Dead? August 08, 2015, 08:33:00 PM #5

http://bitcoinexchangerate.org/fees







but, that, it's to use the next block ...

and micro-payment don't say that it's for the next block ...







that is the key. miner fees : 0,4 mBTCbut, that, it's to use the next block ...and micro-payment don't say that it's for the next block ...that is the key.

PolarPoint



Offline



Activity: 672

Merit: 500







Hero MemberActivity: 672Merit: 500 Re: Micro Payments Dead? August 08, 2015, 09:28:59 PM #9 I think we are better off leaving micro payments to shared wallets like xapo. It is costly and inefficient to send on chain micro payments. We could have side chains to handle micro payments but that is too distant. I think micro payment is not crucial to mass adoption. I am prepared to forego that for less spam on the blockchain.

jeannemadrigal2



Offline



Activity: 322

Merit: 250









Sr. MemberActivity: 322Merit: 250 Re: Micro Payments Dead? August 08, 2015, 09:34:35 PM #10 Quote from: AgentofCoin on August 08, 2015, 08:02:22 PM Quote from: JPage on August 08, 2015, 07:00:17 PM One of the very big hopes for Bitcoin was the notion of enabling 'micropayments'. Today, one can't practically pay 50 cents with Visa because there is a 30 cent swipe fee and a percent fee on top.



However, now with the stalwarts of 1MB blocksize limits, it looks like we are going to have to start setting our miners fees to (remarkably enough): 30 cents.



Does this spell an end to micropayments?



Only time will tell.

I believe micro-payments are what will really push Bitcoin/bitcoin to mass adoption one day.

Any amount, around the world, any time, without trusted parties. That is special.

But as I have said, only time will tell.

Only time will tell.I believe micro-payments are what will really push Bitcoin/bitcoin to mass adoption one day.Any amount, around the world, any time, without trusted parties. That is special.But as I have said, only time will tell.

This is why it needs to be addressed. Why allow a problematic weakness when it can be easily solved? IMO micro payments are an important part of the bitcoin ecosystem. We need them for wider adoption. And having the fee the same as visa is just depressing. We are supposed to be better than those guys right? This is why it needs to be addressed. Why allow a problematic weakness when it can be easily solved? IMO micro payments are an important part of the bitcoin ecosystem. We need them for wider adoption. And having the fee the same as visa is just depressing. We are supposed to be better than those guys right?

|Bitcoin|



Offline



Activity: 320

Merit: 250







Sr. MemberActivity: 320Merit: 250 Re: Micro Payments Dead? August 09, 2015, 02:31:07 AM #11 Micropayment is not going to be death as long as bitcoin have people like you and me

Even if it fail we have many altcoin for micropayment like the very popular dogecoin and litecoin.

harrymmmm



Offline



Activity: 580

Merit: 500







Hero MemberActivity: 580Merit: 500 Re: Micro Payments Dead? August 09, 2015, 02:41:02 AM #12 Don't you guys read anything?

Micropayments are already happening in streamium, and things like Lightning network are on the way.

Payment channels are all the rage!

Sourgummies



Offline



Activity: 728

Merit: 500





Never ending parties are what Im into.







Hero MemberActivity: 728Merit: 500Never ending parties are what Im into. Re: Micro Payments Dead? August 09, 2015, 05:36:17 AM #14 Also need ed for new business ideas. Lot of these app games have their own markets, which could really work well with micro payments.

Dire



Offline



Activity: 112

Merit: 10



Crypto-Games.net: DICE and SLOT







MemberActivity: 112Merit: 10Crypto-Games.net: DICE and SLOT Re: Micro Payments Dead? August 09, 2015, 05:47:16 AM #15 Micro payments is so important. There are just so many avenues that open up when micro payments are enabled, they'll be a lot of growth there. A whole lot of things related to tint smart contracts that will be automatically set (for the user) that'll enable them to do many new things.



It would be a shame if Bitcoin doesn't optimize for that. It needs to, one way or another, because if it doesn't, that's a big chunk of actual/potential value taken out of your BTC, and something else (alt coin/other) will definitely capitalize on that.

14Activity



Offline



Activity: 23

Merit: 0







NewbieActivity: 23Merit: 0 Re: Micro Payments Dead? August 09, 2015, 05:55:23 AM #16 I do not think the bitcoin developers will want to stop micro paying. I think they are coming up with a better idea. Bitcoin developers is very smart.

Soros Shorts

Legendary



Offline



Activity: 1616

Merit: 1003









DonatorLegendaryActivity: 1616Merit: 1003 Re: Micro Payments Dead? August 09, 2015, 06:52:58 AM #17 I believe that micro transactions are very important to Bitcoin adoption. However, having a global flat ledger where everyone needs to see every stinking 50 cent transaction is a stupid design. Right now if my bitcoind crashes it takes 2 days to re-index the blocks on disk before the node is fully online again - so increasing block size beyond 1MB should really be done as a last resort. We need a better architecture than simply crying out to increase the block limit every time there are too many unconfirmed transactions. I mean, should we increase taxes every time the government can't balance their budget?