As the Bitcoin network experiences transaction congestion and higher fees many people have considered alternatives to avoid these issues.
well this is wrong, or at the very least you are just making a guess.
because all we have seen so far are either random brand new (throwaway) accounts created to say things like this or known shills saying "..switch to altcoins to..."
using an altcoin to save a few cents on a transaction may be more of a hassle than you think.
i completely agree with this.
if you want to buy something or pay for a service with bitcoin, they barely accept bitcoin, let alone any of the altcoin so it is
literary impossible to use altcoins instead of bitcoin.
and if you want to transfer money, then you will end up paying more fees:
1. deposit fee of money to exchange
2. exchange fee (0.15% to 0.2%) from fiat to bitcoin
3. transaction fee of transferring bitcoin from bitcoin exchange (eg coinbase) to altcoin exchange (poloniex)
4. exchange fee (0.15% to 0.2%) from bitcoin to altcoin
5. transaction of altcoin network to transfer to other person.
{waiting a lot longer for a lot more confirmation since altcoin networks are not trusted and they have lots of orphans)
6. the other person exchange fee (0.15% to 0.2%) from altcoin to bitcoin
7. transaction fee of transferring bitcoin from altcoin exchange (poloniex) to bitcoin exchange (eg coinbase)
8. exchange fee (0.15% to 0.2%) from bitcoin to fiat
9. huge bank fee for cashing out fiat to your bank.
Hey. Bro.
Once in the system you don't exit.
Spoet might be right. If Google (or Apple) enters the Paypal sector with vigor. There is NO WAY btc can compete in the internet monies to fiat bank account statements GAME.
The bigger picture is:
Have internet monies, known ledger (public), value increases (savings account), because units are hard coded in terms of inflation, fiat fucks off and dies.
I spent 30 minutes in line waiting to get cash from my bank account. I could pay $25/month for ATM service and avoid the problem. But half the ATMs are broken at any given time. Think of the overhead to run the traditional bank services!!
Even BTC, with $millions per day, has better math.
Google is just pluggin into a dinosaur.
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