Re:We are removing the option to create new subscriptions
by nottorp on Tuesday June 21, 2022 @08:52AM
(#31823277)
> Bitcoin Cash does currently scale up to Paypal's daily number of transactions while keeping transaction fees below $0.01.
On this here website there was a talk a couple months ago that led me to believe that paying $150 worth of bitcoin costs ... $150 if you want it done at credit card speed. Have things changed?
Re:We are removing the option to create new subscriptions
by fidelramos on Tuesday June 21, 2022 @12:23PM
(#31825749)
Without any other information I must suppose you are talking about Bitcoin (BTC), which has limited scalability and therefore high transaction fees when there is high demand. Bitcoin Cash BCH has low fees, below $0.01 as I mentioned.
You can see a graph of historic average transaction fees at https://bitinfocharts.com/comparison/transactionfees-btc-bch...
Scalability tests are underway [1] to detect bottlenecks for increasing the block size further, which should take it closer to Visa's transaction capacity.
The scalability roadmap aims for eventually supporting 50 daily transactions for each human in the planet, again keeping fees low, which is key for Bitcoin to be used as cash. Check out [2] if you want to read about the technical feasibility of this (even with today's hardware, it will be even easier in the future).
I understand the skepticism about the ability to scale Bitcoin after the Bitcoin Core team has been pushing for years for keeping block sizes low, but please let's consider facts rationally and maintain a civil discussion.
[0] https://news.bitcoin.com/bitcoin-cash-stress-test-goes-beyon...
[1] https://bitcoincashresearch.org/t/assessing-the-scaling-perf...
[2] https://blog.vermorel.com/journal/2017/12/17/terabyte-blocks...