Crypto faster and cheaper??

Status
Archived
Joined
Jan 2018
From
Northern KY
I just made a purchase using Bitcoin today.
The receiver has yet to receive the Bitcoin sent over an hour ago.
And...I was charged $17 in fees (using Coinbase) to complete this transaction!!
How is this digital currency the "thing of the future"??
If I had paid with credit card, my purchase would have been final in seconds with no additional fees.
What is the real advantage of this voodoo currency??
 

V4Vendetta

Moderator
Joined
Apr 2017
From
Texas
I just made a purchase using Bitcoin today.
The receiver has yet to receive the Bitcoin sent over an hour ago.
And...I was charged $17 in fees (using Coinbase) to complete this transaction!!
How is this digital currency the "thing of the future"??
If I had paid with credit card, my purchase would have been final in seconds with no additional fees.
What is the real advantage of this voodoo currency??
Bitcoin fees are higher than any other coin. This is due to a lack of scalability and thus high mining fees, which also effects transaction speeds. Ethereum and LiteCoin have much lower fees and send much faster. XRP is cheaper and faster than that. IOTA is free but their wallet is not quite up to par yet. This market is still very young and growing. Eventually these issues will be worked out. But the great thing about competition is that you can choose which method you want to use. And if you’d rather stay in the fiat world you’re free to do that as well.
 
Joined
Jan 2018
From
Northern KY
But I thought two of the selling points of cryptocurrency was lower fees and speed of transactions? It seems completely opposite...in addition to being very complicated. It reminds me of when email addresses first came out and they were just a bunch of numbers instead of names and phrases...all these decimal points!! I'm intrigued and invested (on a small scale) in some of these...but it still seems to be slow, expensive, and confusing.
 

V4Vendetta

Moderator
Joined
Apr 2017
From
Texas
But I thought two of the selling points of cryptocurrency was lower fees and speed of transactions? It seems completely opposite...in addition to being very complicated. It reminds me of when email addresses first came out and they were just a bunch of numbers instead of names and phrases...all these decimal points!! I'm intrigued and invested (on a small scale) in some of these...but it still seems to be slow, expensive, and confusing.
Those were two of the selling points and still are for many crypto currencies. However, when you have millions of people flocking to a monetary system with limited infrastructure, scalability will take time to build. Binance alone has been adding 250,000 users a day. Coinbase is adding 100,000 per day. The amount of demand has dwarfed the current infrustructure. Infrustructure takes time to build. This is still a very new and emerging market. And it’s already made a lot of people very wealthy. If it’s too complicated for anyone, there’s always the option of waiting until it is more user friendly, but by then most of the best profits will have already been made.
 
Joined
Dec 2017
From
Belfast n. Ireland
bitcoin is the dinosaur of crypto ,i dont want to upset anyone but if i was paying for something i wouldn't be using it, theres a 100 more currencies you could have used that would be on par with a credit card
 
Joined
Dec 2017
From
Belfast n. Ireland
I just made a purchase using Bitcoin today.
The receiver has yet to receive the Bitcoin sent over an hour ago.
And...I was charged $17 in fees (using Coinbase) to complete this transaction!!
How is this digital currency the "thing of the future"??
If I had paid with credit card, my purchase would have been final in seconds with no additional fees.
What is the real advantage of this voodoo currency??
i just transfer 6k xpcoin it took 10 mins and cost 0.003usd
 
Joined
Jan 2018
From
Michigan, USA
But I thought two of the selling points of cryptocurrency was lower fees and speed of transactions? It seems completely opposite...in addition to being very complicated. It reminds me of when email addresses first came out and they were just a bunch of numbers instead of names and phrases...all these decimal points!! I'm intrigued and invested (on a small scale) in some of these...but it still seems to be slow, expensive, and confusing.
That's the beauty of crypto currencies, Look how far the emails, and other technology has come in really only what 10 years, just think of the opportunity you have here.

Sent from my XT1585 using Tapatalk
 
Joined
Jan 2018
From
Michigan, USA
But I thought two of the selling points of cryptocurrency was lower fees and speed of transactions? It seems completely opposite...in addition to being very complicated. It reminds me of when email addresses first came out and they were just a bunch of numbers instead of names and phrases...all these decimal points!! I'm intrigued and invested (on a small scale) in some of these...but it still seems to be slow, expensive, and confusing.
Exactly why I'm researching those with the insight to make it more usable.


Sent from my XT1585 using Tapatalk
 
Joined
Jan 2018
From
Israel
To invest in cryptocurrency is beneficial as its value increases apart from few fluctuations. If the value goes to increase gradually, then it returns you big amount of profit over the invested amount. As there are two faces of every coin, similarly, bitcoin have both positive and negative aspects. The negative aspect of bitcoin is its transaction time. But it can be improved with the passage of time.

Before investing in cryptocurrency, firstly do proper research. You can also use ICO rating calculator for scoring ICOs. Must read this link: https://cryptorated.com/ico-ratings-calculator/ to better understand about ICO rating calculator. I am mentioning this link because I learned a lot from this link.
 
Joined
Jan 2018
From
Austin, Texas
Hello everyone. As I am new in the ICO sphere, may I ask for an opinion on the following ICO's:
1. Cointed
2. Giftz
3. ATF
All of them seem promising with a lot of potential. I've also checked their whitepapers and the projects seem worthy of investment in. May I be provided with some constructive feedback? Thank you in advance!
 
Joined
Jan 2018
From
Austin, Texas
Hello everyone. As I am new in the ICO sphere, may I ask for an opinion on the following ICO's:
1. Cointed
2. Giftz
3. ATF
All of them seem promising with a lot of potential. I've also checked their whitepapers and the projects seem worthy of investment in. May I be provided with some constructive feedback? Thank yo
 
Status
Archived
Top