If they have their own custodial wallet service, transferring could be fast and free. Coinbase does this.
Oh boy, you must hate how traditional FIAT currency works then.
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Twitter for iOS Beta Lays Groundwork for Bitcoin Tips
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Twitter.....the gasoline being poured on the fire of society. It needs to go away....permenately.
But isn’t it appealing to have so many people waste their mental health and time on random opinions while you use that peace of mind to focus on getting ahead? I find that the male population has switched to unnatural internet flirting which has created a great opportunity for me to seem confident and rare when I make approaches in person. Go where it’s empty. Humans are quite pleasant in person even though social media paints the population as a lost society.
It's crap cause there are 2 layers? You're typing this comment on an OS with many layers.
Lightning Network is a very natural way to do this. It doesn't make sense to perform every operation on the blockchain. Problem was always lack of adoption. It's nice that they're trying this.
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I love people who think they’re “technical and up to the times” only to leave comments like this.
They think they actually own dollars, they don't even realise that their previous market cap is the debt in the system. The mount of real money, they need to extract from fools, to get what they think they own.
You must be new to 2021 Bitcoin. Please do some research about the lightning network.
This will use the lightning network. A LN transaction takes, on average, 500 millisecond to settle. DYOR
A layer 1 that works for every possible use-case is not a real option.
Even in fiat standard it works this way: are you using Swift transfers to buy a coffee nowadays?
Wow, I used to think MacRumors forums was a pretty smart crowd that somewhat understands technology, scaling, and most importantly the not-so-distant future. This mindset requires being open minded to what's happening today - Just like understanding what Apple's vision was in the early 90's. I guess that generation of minds here was replaced by a bunch of sheep.
I say this because I just saw this reply getting the most attention and upvotes. I never realized that people on this forum can be so ignorant about a subject matter and still have strong opinions. If you don't understand LN layer 2, read about it, and then reply with questions about what you're missing/not getting - because you'll likely aren't going to get it the first time - based on your reply to this article where you missed the whole point. FYI, with LN, you can send less than $1 for less than 1cent of course. Study up bros or YNGMI!
Hello debit cards don’t use an extra layer because the prior layer fails to be efficient. In modern payment systems if a network is slow they replace it with a better one. They upgrade networks instead of maintaining old ones.
With bitcoin or ether they are both ridiculously slow compared to debit cards 25 years ago. The fees mean the system works to enrich the miners and the miners exist to enrich those who sell them hardware and the fossil fuel companies who provide the energy, because no the miners are not even close to mostly using renewables and never will be.
Nobody can spend using bitcoin or ether. I just checked the fees and it’s average $15 for a transaction, that goes up even higher during peak times. Let’s magically reduce that to $1. That would mean the average person who spends around 100 times per month would spend $100 per month on transaction fees alone.
That’s $1200 a year! Most people in modern cities don’t have this much money to spare. In poor countries it’s not even a question.
Transactions need to be free. That’s the great thing about banking. You get insurance, you get consumer protection, you get free transactions. If this needs to be explains we really are living in the upside down and all this Qanon and bitcoin stuff has really messed people’s minds up.
They're not free. There are fees for debit and credit in the ballpark of 3%. Many shops and gas stations in the US give a discount for paying in cash. For wire transactions, the fees are higher, and it takes longer. Checks are cheaper but take even longer. For all the above, chargebacks and such are a risk.
Using Bitcoin by itself is like wiring money or handing over gold every time you want to buy something small, which is why Lightning exists. No need to verify small xacts so carefully. There are your free transactions.
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Lol, do you really think that a debit card is not layer-based?
Look how at this:
It’s a 3-day process that involves different networks. Visa/MasterCard (“layer 2”) txs are instant just for the payer. The merchant needs to wait several days to get the money, and that involved a “layer 1” transaction by swift/ACH or SEPA here in the EU.
This is is why bitcoiners are a brainless cult. It’s not only that they spew misinformation, when their favorite exchanges screw them over and crash prices 20% in one hour they continue to believe they are investing in a useful, cheap, fast currency, even when it is unstable, a rigged market, and costs enormous amounts of energy to produce finality.
Recently they made chums with the dictator of El Salvador and he forced the citizens of the country to accept this crap as legal tender. Citizens this week were offered a wallet app with preloaded $30 that was such a disastrous launch. There were no KYC checks in the app so anyone could pretend to be you and claim your account. The company behind it has such a history of corruption and the leader is making sure there are no audits. 60% of El Salvador citizens don’t want it and many are protesting in the streets against this money laundering scam.
Oh, welcome back from being banned. Show me where I can buy something valuable (maybe cryptocurrency) using a CC without any fees, and I'll do it for the rewards.
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