Simple Solution for Bitcoin Scaling

[BitcoinBarrel]

3rd-party Micro-payment Providers.

The micro-payment provider can include as many transactions needed in a single transaction with fee, and charge small fee for service.

Wha-la. Plus people can use alt-coins for micro-transactions if necessary. Plenty to choose from....

[1714991638]

1714991638

[1714991638]

1714991638

[1714991638]

1714991638

[GBattaglia]

3rd-party Micro-payment Providers.

The micro-payment provider can include as many transactions needed in a single transaction with fee, and charge small fee for service.

Wha-la. Plus people can use alt-coins for micro-transactions if necessary. Plenty to choose from....

Not sure if serious, really don't think you are. The whole point of Bitcoin is to weed out the need for third parties. And of course Altcoins to provide a useful currency for instant micro-transactions, but why is it needed when Bitcoin can properly function for these use cases if people just agreed on a solution [larger blocks/segwit/etc].

[d5000]

A very similar "solution" does already exist. Even in my backwards country there is a "Bitcoin debit card" provider.

All these providers do is what you describe ... they bundle the transactions the users "deposit" at their accounts and then the users can use them to pay to the merchants. Only that the amount of the transactions is usually in fiat value ... so that these solutions integrate also a payment provider-like service.

But now tell me the difference to a regular gift/prepaid card. For these kinds of micro-payments I prefer LN although it has its drawbacks, too.

[cr1776]

3rd-party Micro-payment Providers.

The micro-payment provider can include as many transactions needed in a single transaction with fee, and charge small fee for service.

Wha-la. Plus people can use alt-coins for micro-transactions if necessary. Plenty to choose from....

Voila.

Changetip.com (among others) tried that and it was a good idea, but they couldn't succeed commercially. LN is also something that can accomplish this.  There are banks and credit cards if we want a trusted third party.

[unholycactus]

3rd-party Micro-payment Providers.

The micro-payment provider can include as many transactions needed in a single transaction with fee, and charge small fee for service.

Wha-la. Plus people can use alt-coins for micro-transactions if necessary. Plenty to choose from....

Not sure if serious, really don't think you are. The whole point of Bitcoin is to weed out the need for third parties. And of course Altcoins to provide a useful currency for instant micro-transactions, but why is it needed when Bitcoin can properly function for these use cases if people just agreed on a solution [larger blocks/segwit/etc].

Most people don't want a solution that requires a third party. It goes against what Bitcoin was meant for, a peer-to-peer currency.
Thanks for pointing that out and I hope more people get that.

[Snorek]

How exactly relying on 3rd party is a solution for anything? You are just reinventing banks here.

Bitcoin was created with the sole purpose, to battle any parasites: banks, remittance companies, external payment processors.
What you proposed is killing trustless transfers of bitcoins, what we need to remember is that bitcoin trustless transfers aren't free.

[Gloiri]

3rd-party Micro-payment Providers.

The micro-payment provider can include as many transactions needed in a single transaction with fee, and charge small fee for service.

Wha-la. Plus people can use alt-coins for micro-transactions if necessary. Plenty to choose from....

are you sure its a simple solution some big sites like paypal and amazon do micro payments like $0.05 + 5$ fee . so its makes micro payment feasible

[digaran]

I don't see any solution at all, what will you do when there are more than 50 transactions per second? all I can see now is 3 or 4 tx per second..
What we need in 2017 is at least a network processing 10 transactions per second. miners and nodes really need to compromise to avoid network split.

[bob123]

I like the conept, but i disagree with the idea of needing a 3rd Party.
But theoratically it should be able to create a protocoll which does exactly this.. but without
the use of a 3rd (centralized) party.
This concept applied on a peer-2-peer network protocoll seems kinda interesting to me, even tho i dont think its such a big problem (yet).
Which, of course, can (and probably will) change in the next few years.