tiffyroman
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May 27, 2016, 02:24:59 PM |
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All Bitcoin wallets earn money from trasaction fees which is differ from wallet to another ,for example , blockchain.info transaction fee is more than XAPO as I know , but blockchain wallet provides better and faster service than others , so its fee is higher , further more , blockchain wallet has some advertsement spaces which are not free for sure ...
Blockchain.info charges at least 100 sats. I don't know what's the max they charge per transaction. That's how blockchain.info earns but with XAPO, there is no transaction fee at all so they don't earn that way so what you said is false. If you only read the posts before you made this, you'll understand how and why.
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biggbox
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May 27, 2016, 03:22:42 PM |
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Thanks. That's good to know. No fees! Xapo has eliminated all transaction fees for transactions between two bitcoin addresses.
Previously, anytime a user sent bitcoins to someone who did not have a Xapo account, the user was charged a small fee by the bitcoin network to send your bitcoins. These fees serve as both a reward and incentive to the people who operate the bitcoin network. Now, anytime a user sends bitcoins to another bitcoin address, Xapo will pay these fees and you will not be charged to send payments to other users.
Please note that fees will still apply for other types of transactions, such as buying bitcoins or using the Xapo Debit Card, as described in more detail in our Terms of Use but there will no longer be network transaction fees for sending funds between bitcoin addresses.
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gentlemand
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Welt Am Draht
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May 27, 2016, 03:36:00 PM |
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Kinda strange. It must add up a fair bit for them. Personally I'd rather be paying fees with my own wallet and knowing that I'm not going to fall afoul of their terms but it's good to have such options out there.
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biggbox
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May 27, 2016, 03:37:36 PM |
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Kinda strange. It must add up a fair bit for them. Personally I'd rather be paying fees with my own wallet and knowing that I'm not going to fall afoul of their terms but it's good to have such options out there.
I am using Xapo wallet to collect my Genesis-mining dusts. Previously, when I kept GM dust in my wallet, the outgoing transaction fees are higher than the dust that GM sends me. lol
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mindrust
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May 27, 2016, 03:43:40 PM |
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They are basically a bank. A bitcoin bank.
They gather people's money and they can make whatever investment they like with that money. As long as all the Xapo users do not decide to withdraw all of their money, there won't be a problem.
So, why would people decide to withdraw their money from Xapo? Think about it, If some hacker hacks Xapo and you hear it after, what would you do? You want to withdraw all and gtfo as soon as possible. Just like a real bank.
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biggbox
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May 27, 2016, 03:46:21 PM |
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They are basically a bank. A bitcoin bank.
They gather people's money and they can make whatever investment they like with that money. As long as all the Xapo users do not decide to withdraw all of their money, there won't be a problem.
So, why would people decide to withdraw their money from Xapo? Think about it, If some hacker hacks Xapo and you hear it after, what would you do? You want to withdraw all and gtfo as soon as possible. Just like a real bank.
Xapos claims to use a more secured multisig wallet. You need 2 out of 3 person's keys before the funds can be accessed. But in the computer world, anything can happen.
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mindrust
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May 27, 2016, 04:00:38 PM |
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They are basically a bank. A bitcoin bank.
They gather people's money and they can make whatever investment they like with that money. As long as all the Xapo users do not decide to withdraw all of their money, there won't be a problem.
So, why would people decide to withdraw their money from Xapo? Think about it, If some hacker hacks Xapo and you hear it after, what would you do? You want to withdraw all and gtfo as soon as possible. Just like a real bank.
Xapos claims to use a more secured multisig wallet. You need 2 out of 3 person's keys before the funds can be accessed. But in the computer world, anything can happen. I get your point but that I was giving an example. People may decide to withdraw eveything because of a madly spreading FUD, or... Or they may say "fck all" decide to follow "Goxway".
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biggbox
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May 27, 2016, 04:03:18 PM |
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They are basically a bank. A bitcoin bank.
They gather people's money and they can make whatever investment they like with that money. As long as all the Xapo users do not decide to withdraw all of their money, there won't be a problem.
So, why would people decide to withdraw their money from Xapo? Think about it, If some hacker hacks Xapo and you hear it after, what would you do? You want to withdraw all and gtfo as soon as possible. Just like a real bank.
Xapos claims to use a more secured multisig wallet. You need 2 out of 3 person's keys before the funds can be accessed. But in the computer world, anything can happen. I get your point but that I was giving an example. People may decide to withdraw eveything because of a madly spreading FUD, or... Or they may say "fck all" decide to follow "Goxway". I hope they have a mechanism in place to prevent a "bank run" if customers panic. haha
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factstraightener
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May 27, 2016, 10:18:31 PM |
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They are basically a bank. A bitcoin bank.
They gather people's money and they can make whatever investment they like with that money. As long as all the Xapo users do not decide to withdraw all of their money, there won't be a problem.
So, why would people decide to withdraw their money from Xapo? Think about it, If some hacker hacks Xapo and you hear it after, what would you do? You want to withdraw all and gtfo as soon as possible. Just like a real bank.
This is wildly incorrect and FUD. Xapo (and similar hosted wallets/vaults) is a custodian of other peoples' bitcoins -- they do not put the bitcoins on their balance sheet and therefore cannot lend them out or invest them. It is like a gold vaulting service, or a safe-deposit box, vs. a traditional depository bank. Maybe some bitcoin companies are planning on getting a full banking license and pursuing that model but that is not currently what they do. I don't think a bitcoin "bank" currently exists.
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biggbox
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May 27, 2016, 11:27:44 PM |
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How does Xapo benefit itself with the fee-less coin sending model?
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