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Title: [2016-04-09] Video SkyNews: Bitcoin Could Be Useful To 'Developing Countries... Post by: LiteCoinGuy on April 09, 2016, 06:11:10 PM Bitcoin Could Be Useful To 'Developing Countries And Foreign Workers'
http://news.sky.com/video/1675206/bitcoin-useful-to-foreign-workers Title: Re: [2016-04-09] Video SkyNews: Bitcoin Could Be Useful To 'Developing Countries... Post by: Kprawn on April 10, 2016, 01:15:41 PM Remittance is surely one of the main reasons why people in the developing countries should adopt Bitcoin, but I think micro payments should be up there too. You cannot have
people paying for example for 1 banana with a credit card, because the fee will not justify a single transactions with the high fees associated with CC payments. You can make that same purchase with Bitcoin, if you add some side-chain or a service with off-chain transactions and have the transaction with virtually zero fees. I know some people are against using Bitcoin as a payment channel, but I still think added technologies could expand and add workable functionality for that to happen. ;) Title: Re: [2016-04-09] Video SkyNews: Bitcoin Could Be Useful To 'Developing Countries... Post by: Denker on April 10, 2016, 04:08:16 PM Remittance is surely one of the main reasons why people in the developing countries should adopt Bitcoin, but I think micro payments should be up there too. You cannot have people paying for example for 1 banana with a credit card, because the fee will not justify a single transactions with the high fees associated with CC payments. You can make that same purchase with Bitcoin, if you add some side-chain or a service with off-chain transactions and have the transaction with virtually zero fees. I know some people are against using Bitcoin as a payment channel, but I still think added technologies could expand and add workable functionality for that to happen. ;) I think LN could perfectly fill out this role. Very quick and cheap transactions without the hassle to wait for a confirmation. We are heading into really interesting times. |