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A comment on Bank of England to explore a potential Central Bank Digital Currency. Parent comment

Re:Bank of England to explore a potential Central Bank Digit... by throwaway3699 on Monday April 19, 2021 @01:11PM (#26865245)
I guess I'm more wondering what possible value such a tiny micropayment could be. There's no conceivable business that would charge in such small increments. Even an average ad impression is more than a penny.

In fact, things are heading the other way, with "micro"-transactions in mainstream games sometimes exceeding the price of the game itself.

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Re:Bank of England to explore a potential Central Bank Digit... by max_ on Monday April 19, 2021 @02:31PM (#26866351)
Spotify for example pays between $0.003 and $0.005 per stream [0]

In the music business u don't make money on each song, you only make oney from hit songs.

That song streamed 10 million times can earn you $50k. And it could be more if spotify wasn't taking a bite out of it.

[0]: https://www.businessinsider.com/how-much-does-spotify-pay-pe...

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Re:Bank of England to explore a potential Central Bank Digit... by betterunix2 on Monday April 19, 2021 @06:14PM (#26868490)
Actually, the value of such a tiny micropayment is negative -- it would cost more just to process such a small payment than the amount being paid.
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Re:Bank of England to explore a potential Central Bank Digit... by jaredtn on Tuesday April 20, 2021 @08:13PM (#26883741)
Today, with our archaic system. That's why we need digital currencies.
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Re:Bank of England to explore a potential Central Bank Digit... by throwaway3699 on Tuesday April 20, 2021 @08:29PM (#26883876)
It costs multiple dollars to make a BTC transaction... Even in a perfect world we are not going to be able to make it free if we still expect the infrastructure to be independently run.
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