Visa May Add Cryptocurrencies to Its Payments Network, Says CEO

Re:Visa May Add Cryptocurrencies to Its Payments Network, Sa... by whimsicalism on Sunday January 31, 2021 @06:25PM (#25983683)

Ethereum definitely doesn't cost that much and take that long as of late.

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Re:Visa May Add Cryptocurrencies to Its Payments Network, Sa... by rglullis on Sunday January 31, 2021 @06:49PM (#25983868)

The point still stands. Any ERC20 transfer is going to cost a substantial amount of ETH if you want to confirm quickly and even after mined should only be considered confirmed after 10 blocks at least. It is not practical for payments.

Layer-2 does alleviate some of the issues though, and all those talking about Lightning Network should look into Raiden.

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Re:Visa May Add Cryptocurrencies to Its Payments Network, Sa... by colecut on Sunday January 31, 2021 @06:45PM (#25983841)

I paid multiple $30 ethereum gas fees yesterday. I've seen them over $60

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Re:Visa May Add Cryptocurrencies to Its Payments Network, Sa... by brianobush on Sunday January 31, 2021 @11:22PM (#25985504)

This will be addressed by EIP 1559 in the next year or so.

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