News for hackers. Stuff that matters.
Re:Most Bitcoin Inscriptions belong to a single person by medo-bear on Tuesday May 30, 2023 @07:21AM (#36123516)
A problem to solve? It is not uncommon for companies to loose over 2% of revenue in banking fees and other enforced banking inefficiencies for transactions that could be handled much more cheaply and efficently with crypto solutions
Re:Most Bitcoin Inscriptions belong to a single person by simiones on Tuesday May 30, 2023 @09:02AM (#36124368)
Yes, because both BTC and ETH are well known for how cheap transactions are.
Re:Most Bitcoin Inscriptions belong to a single person by nwienert on Wednesday May 31, 2023 @02:29AM (#36135167)
Typically less than half a percent, often lower.
Re:Most Bitcoin Inscriptions belong to a single person by simiones on Wednesday May 31, 2023 @08:56AM (#36137800)
As far as I see, average ETH gas prices have been between ~20 and ~170 USD in the last few months. So, by my understanding (happy to be corrected) for a 1k USD transaction, that's between 2% and 17%. It does get pretty good if you're transacting huge sums. It's abysmal for day-to-day payments.
Re:Most Bitcoin Inscriptions belong to a single person by medo-bear on Thursday June 01, 2023 @03:02PM (#36155797)
do you have any experience sending eth?
Re:Most Bitcoin Inscriptions belong to a single person by usrbinbash on Wednesday May 31, 2023 @12:30AM (#36134470)
> not uncommon for companies to loose over 2% of revenue in banking fees and other enforced banking inefficiencies

Do you have a source for that number?

And even forgetting that "crypto" comes with both delays and transaction fees, it is also known to be able to lose most of it's value basically overnight. So unless companies want to wake up bankrupt, they'd have to constantly change real money into tokens and back again for their transactions. I wonder how efficient that would be.

Re:Most Bitcoin Inscriptions belong to a single person by medo-bear on Thursday June 01, 2023 @11:36AM (#36152665)
not more than my experience, which you can trust or not. if it means anything to you my experience relates to banks in the EU. i also deal alot in multiple currencies

crypto delays are minutes to hours. banking delays are a matter of days. just this week i needed to do a significant transfer with my bank. because i did the transfer after 16:30 (in branch!) i needed to wait until 06:00 for the transfer to happen because it was outside transfer hours. if some crypto coin functioned like this it would be laughed at