News for hackers. Stuff that matters.

A comment on Ask HN: What projects are 20 years ahead of their time?. Parent comment

Re:Ask HN: What projects are 20 years ahead of their time? by adrianN on Wednesday June 21, 2017 @10:43AM (#14604187)
Transactions won't be free. Somebody has to do some mining. Some googling indicates that a typical bitcoin transaction costs about two dollars today. In my experience, paying money via Paypal or credit card costs about the same.
[ Parent | on HN ]
Re:Ask HN: What projects are 20 years ahead of their time? by miguelrochefort on Wednesday June 21, 2017 @11:36AM (#14604686)
> Transactions won't be free. Somebody has to do some mining.

Proof-of-Stake (as opposed to Proof-of-Work) will change that.

> Some googling indicates that a typical bitcoin transaction costs about two dollars today.

This is because Bitcoin reached the limit of transactions that can fit in a block, which causes a bottleneck, which increases fees. This has been fixed for other cryptocurrencies, and Bitcoin will soon (August 1st) fix it.

[ Parent | on HN ]