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A comment on My professional opinion as a blockchain researcher: I don’t see the point (yet). Parent comment

Re:My professional opinion as a blockchain researcher: I don... by JumpCrisscross on Monday February 12, 2018 @11:01AM (#16359477)
> Once you account for all the costs relative to them in a given year and divide that number with the number of transactions in that same year, I doubt, given the margins of a given transaction, that a bank can break even on 1 cents transactions

This is a strange argument. Visa's costs, per transaction, are demonstrably lower than Bitcoin's. Specific banks and systems may be more or less efficient. But fundamentally, the trustlessness that is a blockchain's selling point comes at the cost--by definition in proof of work systems--of efficiency.

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Re:My professional opinion as a blockchain researcher: I don... by player2121 on Monday February 12, 2018 @11:18AM (#16359608)
intermediaries fees are often more than operational expenses. In some industries, the fees might be significantly high especially when competition is low.

With blockchains it's mostly about operational expenses. Now, bitcoin transaction fee might be currently high but it is a problem of this blockchain implementation and not with blockchain per se.

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