Bitcoin Forum
January 25, 2021, 05:25:04 AM *
News: Latest Bitcoin Core release: 0.21.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Britain keeps the penny but micropayments might promote crypto adoption  (Read 165 times)
James_CRYPTOSTAR.MONEY
Newbie
*
Offline Offline

Activity: 26
Merit: 2


View Profile
May 03, 2019, 09:46:09 AM
Last edit: May 03, 2019, 02:35:18 PM by James_CRYPTOSTAR.MONEY
 #1

This article argues that clever pricing strategies and the ability to cut transaction fees payments less than $1 may help speed the adoption of cryptocurrencies.

https://cryptostar.money/blog/britain-is-keeping-the-penny-lessons-for-crypto-marketing-teams/

--- update 15:33 ---

Great points Beerwizard and Stompix  below.

When using crypto the buyer pays the transaction fee. Cash is cheaper for them unless they get a discount.
Merchants using Lightning Network might have to close their channel each night to keep their books in order.
1611552304
Hero Member
*
Offline Offline

Posts: 1611552304

View Profile Personal Message (Offline)

Ignore
1611552304
Reply with quote  #2

1611552304
Report to moderator
1611552304
Hero Member
*
Offline Offline

Posts: 1611552304

View Profile Personal Message (Offline)

Ignore
1611552304
Reply with quote  #2

1611552304
Report to moderator
1611552304
Hero Member
*
Offline Offline

Posts: 1611552304

View Profile Personal Message (Offline)

Ignore
1611552304
Reply with quote  #2

1611552304
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1611552304
Hero Member
*
Offline Offline

Posts: 1611552304

View Profile Personal Message (Offline)

Ignore
1611552304
Reply with quote  #2

1611552304
Report to moderator
CryptoBry
Sr. Member
****
Offline Offline

Activity: 1008
Merit: 355



View Profile
May 03, 2019, 11:41:39 AM
 #2



The marketing side in Bitcoin is something that is really lacking. This is in my opinion a big disadvantage for a decentralized platform. As in anything, there is a need for a marketing strategies. On this matter, there must be an effective and less costly way for people to spend Bitcoin on products and service below $1. This can be helping towards more Bitcoin adoption everywhere. And of course, can push for more merchants to join the Bitcoin bandwagon.
Bitinity
Legendary
*
Offline Offline

Activity: 1862
Merit: 1162



View Profile
May 03, 2019, 11:59:36 AM
 #3



The marketing side in Bitcoin is something that is really lacking. This is in my opinion a big disadvantage for a decentralized platform. As in anything, there is a need for a marketing strategies. On this matter, there must be an effective and less costly way for people to spend Bitcoin on products and service below $1. This can be helping towards more Bitcoin adoption everywhere. And of course, can push for more merchants to join the Bitcoin bandwagon.

When are talking about micropayment, I do not think that bitcoin is suitable for micropayment due to its transaction fees. Indeed there is Lighting Network to avoid the high fee of the transactions. I do believe micropayment is suitable for coins with low transaction fee only like what is being discussed on the linked article by OP.
Of course there will be still some pros and cons to use crypto for micropayment purpose especially about the pricing as it will be always changing due to the volatility of crypto. It wont be effective to use crypto for pricing, so the best way for merchants that accepts crypto is keep on using Fiat for the pricing and they should have an automatic system to convert it into crypto based on the latest price.

.
.Duelbits.
            ▄████▄▄
          ▄█████████▄
        ▄█████████████▄
     ▄██████████████████▄
   ▄████▄▄▄█████████▄▄▄███▄
 ▄████▐▀▄▄▀▌████▐▀▄▄▀▌██

 ██████▀▀▀▀███████▀▀▀▀█████

▐████████████■▄▄▄■██████████▀
▐██████████████████████████▀
██████████████████████████▀
▀███████████████████████▀
  ▀███████████████████▀
    ▀███████████████▀
.
         ▄ ▄▄▀▀▀▀▄▄
         ▄▀▀▄      █
         █   ▀▄     █
       ▄█▄     ▀▄   █
      ▄▀ ▀▄      ▀█▀
    ▄▀     ▀█▄▄▄▀▀ ▀
  ▄▀  ▄▀  ▄▀
 ▀▄    ▄▀▀
Live Games

   ▄▄▀▀▀▀▀▀▀▄▄
 ▄▀ ▄▄▀▀▀▀▀▄▄ ▀▄
▄▀ █ ▄  █  ▄ █ ▀▄
█ █   ▀   ▀   █ █  ▄▄▄
█ ▀▀▀▀▀▀▀▀▀▀▀▀▀ █ █   █
█▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀█  █▄█
█ ▀▀█  ▀▀█  ▀▀█ █  █▄█
█  █    █    █  █  █ █
Slots
.
        ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▄
        █         ▄▄  █
▄▀▀▀▀▀▀▀▀▀▀▀▀▀▄       █
█  ▄▄         █       █
█             █       █
█   ▄▀▀▄▀▀▄   █       █
█   ▀▄   ▄▀   █       █
█     ▀▄▀     █   ▀▀  █
Blackjack
.
▄▄▀█████▀▄▄
▄▀▀   █████ ▄▄▀▀▄
███▄  ▄█████▄▀▀▄███
██████▀▀     ▀▀██████
█ ▀▀██▀ ▀▄   ▄▀ ▀██▀▀ █
█    █    ███    █    █
█ ▄▄██▄ ▄▀   ▀▄ ▄██▄▄ █
██████▄▄     ▄▄██████
Roulette
.
█▀▀▀▄             ▄▀▀▀█
█ ▀▄ ▀▄         ▄▀ ▄▀ █
▀▄ ▀▄ ▀▄     ▄▀ ▄▀ ▄▀
▀▄ ▀▄ ▀▄  ▀ ▄▀ ▄▀
▀▄ ▀▄ ▀▄ ▀ ▄▀
▄ ▀▄ ▀▄ ▀▄  ▄
█ ▀▄ ▀▄ ▀  ▄▀ █
▄▀▄ ▀▄ ▀ ▄▀ ▄▀▄
Dice Duels
..Play Now..
Beerwizzard
Full Member
***
Offline Offline

Activity: 630
Merit: 132


View Profile
May 03, 2019, 12:17:16 PM
 #4

This article argues that clever pricing strategies and the ability to current transaction fees payments less than $1 may help speed the adoption of cryptocurrencies.
All those crypto transaction fees are still much bigger than 0 fees that we pay when we give some cash for our purchases at the local grocery. From this point of view any fee decrease is not pushing the adoption.



The marketing side in Bitcoin is something that is really lacking. This is in my opinion a big disadvantage for a decentralized platform. As in anything, there is a need for a marketing strategies. On this matter, there must be an effective and less costly way for people to spend Bitcoin on products and service below $1. This can be helping towards more Bitcoin adoption everywhere. And of course, can push for more merchants to join the Bitcoin bandwagon.
If benefits of using some particular payment methods are so small that you have to promote them aggressively then  you are using a bad payment sustem. Same thing is appliable to cryptocurrencies.
okala
Full Member
***
Offline Offline

Activity: 980
Merit: 114


View Profile
May 03, 2019, 12:26:55 PM
 #5

Until full implementation and operations of the bitcoin lightening network bitcoin is not suitable for micropayment this is because it transactions fee will Otway the amount for payment, so there is a greater need for development in the bitcoin network before we can see full adoption.
vv181
Sr. Member
****
Offline Offline

Activity: 966
Merit: 336


Africans on forum, check my profile website


View Profile WWW
May 03, 2019, 01:13:16 PM
 #6

Do we really need some kind of promotion while the technologies aren't matured yet? I don't think so it is necessary, just look back a few years ago Bitcoin could be this big without any kind of 'official' promotion. Instead, we really should the support Bitcoin code ecosystem to be matured, and all of those services, merchants, and all of the things that contain Bitcoin being user-friendly as it can yet also maintain the goal of Bitcoin(decentralization and etc).
stompix
Legendary
*
Offline Offline

Activity: 1680
Merit: 1940



View Profile
May 03, 2019, 02:22:19 PM
 #7

When are talking about micropayment, I do not think that bitcoin is suitable for micropayment due to its transaction fees. Indeed there is Lighting Network to avoid the high fee of the transactions. I do believe micropayment is suitable for coins with low transaction fee only like what is being discussed on the linked article by OP.

Normal micropayments via BTC are simply a big NO, even LN  has some limitations for merchants if they want to abide by the law

When you pay in cash for example, you give the banknotes, the merchant can use them to pay its suppliers there is no tax.

When you pay via a card the merchant pays a fee for the transaction, the money is entering his bank account he can use that money to pay its suppliers directly, usually banking fees for small business are very cheap.

Now, with normal BTC tx there is a small problem. When you pay with BTC you make those payments to a unique address and in order to collect the money usually the merchant or the 3rd party has to create another batch transaction (another fee), and if his supplier isn't accepting BTC he must make another one to an exchange, pay a fee for converting, pay a fee for withdraw, pay a bank wire to finally pay....

In the case of LN and in the best case scenario with a partner that accepts LN transactions he will be limited only when closing a channel, and that he will need to do every day in order to keep his papers in order, so again, there will be an extra fee he has to pay way better than on chain tx and maybe rivaling cc but still a not that cheap in every scenario.

MakeMoneyBtc
Full Member
***
Offline Offline

Activity: 952
Merit: 117


View Profile
May 03, 2019, 02:31:35 PM
 #8

Until full implementation and operations of the bitcoin lightening network bitcoin is not suitable for micropayment this is because it transactions fee will Otway the amount for payment, so there is a greater need for development in the bitcoin network before we can see full adoption.
Lightning network is definitely a must in order for bitcoin to be globally adopted but that's not going to help bitcoin become more popular alone. Transactions fees and confirmation time are a problem right now but I don't think that's really the reason why many merchants are not accepting bitcoin as a payment method. In my opinion the problem is that bitcoin is not yet '' legalized '' as a currency in most countries so merchants don't want to accept it because of legal reasons.
jademaxsuy
Full Member
***
Offline Offline

Activity: 924
Merit: 218


View Profile WWW
May 03, 2019, 02:35:10 PM
 #9

ENGLAND has known already on the adaptation of cryptocurrency and even created a lot of projects in the form of ICO. I have witness some had failed and some had succeeded but this is not my point. My point is that the people living in England are open minded with cryptocurency.
buwaytress
Legendary
*
Offline Offline

Activity: 1596
Merit: 1478


Join the world-leading crypto sportsbook NOW!


View Profile
May 03, 2019, 02:43:02 PM
 #10

Just want to add that in commerce and trade, everything is priced in. Ten years ago, merchants and even consumers back in my region had to pay extra costs just for using debit card payments (in fact, this "convenience" generally still comes at some cost for some things I do regularly. AirAsia still charges $5 or MYR 10 for using an instant, non-reversible online cash payment, some online services where I live now charge EUR 0.25 for the same.

But use a credit card (that's actually reversible!) and it's free.

But dig deeper, and you see that fees may be 0 now for most things, but the cost is just transferred elsewhere. Service charges, higher retail price, inflation, etc.

The British penny is actually still pretty powerful btw. Countless other countries have no more use for their smallest denomination.

xvids
Sr. Member
****
Offline Offline

Activity: 1176
Merit: 301



View Profile
May 04, 2019, 08:16:42 PM
 #11

Actually it isn't just the transaction fee that is stopping people from using it as a payment option.
Just like what you can see on this thread people prefer to use cash rather than crypto.
They see's it as an investment and doesn't want to use it as a payment option .
Given the fact that if we use our local wallet we wouldn't have to pay for transaction fee and we would have some cash back or discount they wouldn't use it,
They prefer to pay on hand rather than using the wallet.

Ailmand
Hero Member
*****
Offline Offline

Activity: 1274
Merit: 519


Coindragon.com 30% Cash Back


View Profile
May 05, 2019, 04:06:31 AM
 #12

Quote
When using crypto the buyer pays the transaction fee. Cash is cheaper for them unless they get a discount.

It's a different story when we are using our local wallet when paying. We actually get incentives, discount, cash-back whenever we use bitcoin (not necessarily bitcoin as long it's our local wallet which has fiat, eth, bch, xrp, btc). That is why I sometimes opt to pay via bitcoin for convenience and discount than paying via fiat.

This is what I like the most about how our local wallet is promoting cryptocurrency indirectly to the mass. Introducing it's convenience by letting them save time paying their bills or shopping.

Herbert2020
Legendary
*
Offline Offline

Activity: 1918
Merit: 1136


View Profile
May 05, 2019, 06:14:24 AM
 #13

the thing about fees is that with the technologies that so far were created on top of blockchain technology there is no way to not have it, then the only thing to consider is how to keep it low while still keeping the decentralized nature of the cryptocurrency because that is the whole point of a cryptocurrency and if we make it centralized then there is no point in switching from the old centralized payment systems such as banks, credit cards, online wallets like paypal,... to a centralized cryptocurrency!

This space is for rent. Send PM with your offer.
romero121
Legendary
*
Online Online

Activity: 2016
Merit: 1080


Crypto Casino & Sportsbook


View Profile
May 05, 2019, 06:26:23 AM
 #14

People have a statement that bitcoin is lacking in its promotion part, to my understanding as it is decentralized no authority take responsibility of promotion. These day the service renders accepting bitcoin have been making their involvement into promoting of bitcoin. One main problem with promoting is the sudden increase in the userbase which will get the governments have an eye over the market. At times this might serve as a problem for growth of bitcoin.


██████████████████████████████████████████████████████████████████████
████████▀▀▀        ▀▀█████████████████████████████████████████████████
██████▀    ▄▄▄▄▄▄▄▄    ███████████████████████████████████████████████
█████    ▄█████████▌   ▐█████▀  ▐███████████████▌  ▀██████████████████
████▌   ▐██████████    █████    ████████████████    ██████████████████
████▌   ▐█████████▄▄▄▄█████▌   ▐███████████████▌   ▐███▀▀█████████████
█████    ▀███████████████▀▀        ▄███████████    ██▀   ▐████████████
██████▄     ▀▀███████▀▀         ▄▄███▀▀▀▀█████▌   ▐▀   ▄███▀▀   ▀█████
█████████▄▄     ▀▀███▄  ▄▄    ████▀    ▄   ███       ▄███▀   ▄█  ▐████
█████████████▄▄     ▀████▌   ▐███▀   ███   ██▌      ████    ██▀  █████
██████▀▀   ▀█████▄    ███    ████   ███▌  ▐██    ▌  ▐██▌      ▄▄██████
█████    ▄████████    ▐██    ██▀▀   ██▀   ▐▀    ▐█   ██▌   ▀██▀▀  ████
████▌   ▐████████▀    ███▄     ▄▄▄     ▄    ▄   ▐██   ██▄      ▄▄█████
████▌   ███████▀    ▄███████████████████████████████▄  ▀▀██████▀▀ ████
█████    ▀▀▀▀     ▄█████████▀    ▀█▀    ▀█       ▀████▄▄         ▄████
██████▄▄    ▄▄▄▄████████████  █████  ██  █  █  █  ████████████████████
█████████████████████████  █▄    ▄█▄    ▄█  █  █  ████████████████████
██████████████████████████████████████████████████████████████████████
▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄
█  ▄▀▄             █▀▀▐▀▄▄
█  █▀█             █  ▐  ▐▌
█       ▄██▄       █  ▌  █
█     ▄██████▄     █  ▌ ▐▌
█    ██████████    █ ▐  █
█   ▐██████████▌   █ ▐ ▐▌
█    ▀▀██████▀▀    █ ▌ █
█     ▄▄▄██▄▄▄     █ ▌▐▌
█                  █▐ █
█                  █▐▐▌
█                  █▐█
▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█
▄▄█████████▄▄
▄█▀▀▀█████████▀▀▀█▄
▄█▀    ▄▀█████▀     ▀█▄
▄█▄    █        ▀▄   ███▄
▄████▀▀▀▀▄       ▄▀▀▀▀▀███▄
████      ▀▄▄▄▄▄▀       ███
███     ▄▄███████▄▄     ▄▀█
█  ▀▄ ▄▀ ▀███████▀ ▀▄ ▄▀  █
▀█   █     ▀███▀     ▀▄  █▀
▀█▄▄█▄      █        █▄█▀
▀█████▄ ▄▀▀ ▀▀▄▄ ▄▄███▀
▀█████        ████▀
▀▀█▄▄▄▄▄▄▄█▀▀
● OVER 1000 GAMES
● DAILY RACES AND BONUSES
● 24/7 LIVE SUPPORT
bitbunnny
Legendary
*
Offline Offline

Activity: 2296
Merit: 1066


WOLF.BET - Provably Fair Crypto Casino


View Profile
May 05, 2019, 07:03:57 AM
 #15

People have a statement that bitcoin is lacking in its promotion part, to my understanding as it is decentralized no authority take responsibility of promotion. These day the service renders accepting bitcoin have been making their involvement into promoting of bitcoin. One main problem with promoting is the sudden increase in the userbase which will get the governments have an eye over the market. At times this might serve as a problem for growth of bitcoin.

Yes, there is no authoritiy that is responsible for promotion and there will be no any. But users themselves and different unformal organizations that garher bitcoiners and other cryptocurrency supporters should take more care of it.
Of course that governments will not promote Bitcoin because majority of them still haven't rekognized and regulated it.

fiulpro
Hero Member
*****
Offline Offline

Activity: 1190
Merit: 571


Duelbits*-


View Profile
May 05, 2019, 07:21:00 AM
 #16

Other than that if the cost of converting the Bitcoins from the lightning network , to the normal Bitcoin network is low too then it will for sure be beneficial , because sometimes if you have 7$ after selling and transferring 5$ is all you get in the end ,this is a major drawback when we can just swipe the cards and pay nothing.
This is the only reason why the other forms of payments are preferably done over the cryptocurrency ones.
I hope this gets implemented

.
.Duelbits.
            ▄████▄▄
          ▄█████████▄
        ▄█████████████▄
     ▄██████████████████▄
   ▄████▄▄▄█████████▄▄▄███▄
 ▄████▐▀▄▄▀▌████▐▀▄▄▀▌██

 ██████▀▀▀▀███████▀▀▀▀█████

▐████████████■▄▄▄■██████████▀
▐██████████████████████████▀
██████████████████████████▀
▀███████████████████████▀
  ▀███████████████████▀
    ▀███████████████▀
.
         ▄ ▄▄▀▀▀▀▄▄
         ▄▀▀▄      █
         █   ▀▄     █
       ▄█▄     ▀▄   █
      ▄▀ ▀▄      ▀█▀
    ▄▀     ▀█▄▄▄▀▀ ▀
  ▄▀  ▄▀  ▄▀
 ▀▄    ▄▀▀
Live Games

   ▄▄▀▀▀▀▀▀▀▄▄
 ▄▀ ▄▄▀▀▀▀▀▄▄ ▀▄
▄▀ █ ▄  █  ▄ █ ▀▄
█ █   ▀   ▀   █ █  ▄▄▄
█ ▀▀▀▀▀▀▀▀▀▀▀▀▀ █ █   █
█▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀█  █▄█
█ ▀▀█  ▀▀█  ▀▀█ █  █▄█
█  █    █    █  █  █ █
Slots
.
        ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▄
        █         ▄▄  █
▄▀▀▀▀▀▀▀▀▀▀▀▀▀▄       █
█  ▄▄         █       █
█             █       █
█   ▄▀▀▄▀▀▄   █       █
█   ▀▄   ▄▀   █       █
█     ▀▄▀     █   ▀▀  █
Blackjack
.
▄▄▀█████▀▄▄
▄▀▀   █████ ▄▄▀▀▄
███▄  ▄█████▄▀▀▄███
██████▀▀     ▀▀██████
█ ▀▀██▀ ▀▄   ▄▀ ▀██▀▀ █
█    █    ███    █    █
█ ▄▄██▄ ▄▀   ▀▄ ▄██▄▄ █
██████▄▄     ▄▄██████
Roulette
.
█▀▀▀▄             ▄▀▀▀█
█ ▀▄ ▀▄         ▄▀ ▄▀ █
▀▄ ▀▄ ▀▄     ▄▀ ▄▀ ▄▀
▀▄ ▀▄ ▀▄  ▀ ▄▀ ▄▀
▀▄ ▀▄ ▀▄ ▀ ▄▀
▄ ▀▄ ▀▄ ▀▄  ▄
█ ▀▄ ▀▄ ▀  ▄▀ █
▄▀▄ ▀▄ ▀ ▄▀ ▄▀▄
Dice Duels
..Play Now..
Haunebu
Hero Member
*****
Offline Offline

Activity: 1848
Merit: 626



View Profile
May 05, 2019, 08:41:15 AM
 #17

The only thing that can help push Bitcoin adoption upwards is the volatility factor going down and governments regulating the market in an effective manner along with a fully developed LN which can process super fast transactions and which would require minimal fees.

This is the bottom line when it comes to small or big payments in any part of the world.

traderethereum
Hero Member
*****
Offline Offline

Activity: 1666
Merit: 516


Duelbits


View Profile
May 05, 2019, 08:53:45 AM
 #18

Actually it isn't just the transaction fee that is stopping people from using it as a payment option.
Just like what you can see on this thread people prefer to use cash rather than crypto.
They see's it as an investment and doesn't want to use it as a payment option .
Given the fact that if we use our local wallet we wouldn't have to pay for transaction fee and we would have some cash back or discount they wouldn't use it,
They prefer to pay on hand rather than using the wallet.
That is because we were still difficult to find a local store or online store which accept bitcoin for the payment and that makes people prefer to pay using cash.
But for people who lived in a country which accept bitcoin or crypto, they will prefer to use crypto than cash because they don't have to pay more fee's to buy something.
I think people now don't overthink about the fee because I think they realize that there is a fee that will include in the transaction and they don't mind to accept the transaction.

.
.Duelbits.
            ▄████▄▄
          ▄█████████▄
        ▄█████████████▄
     ▄██████████████████▄
   ▄████▄▄▄█████████▄▄▄███▄
 ▄████▐▀▄▄▀▌████▐▀▄▄▀▌██

 ██████▀▀▀▀███████▀▀▀▀█████

▐████████████■▄▄▄■██████████▀
▐██████████████████████████▀
██████████████████████████▀
▀███████████████████████▀
  ▀███████████████████▀
    ▀███████████████▀
.
         ▄ ▄▄▀▀▀▀▄▄
         ▄▀▀▄      █
         █   ▀▄     █
       ▄█▄     ▀▄   █
      ▄▀ ▀▄      ▀█▀
    ▄▀     ▀█▄▄▄▀▀ ▀
  ▄▀  ▄▀  ▄▀
 ▀▄    ▄▀▀
Live Games

   ▄▄▀▀▀▀▀▀▀▄▄
 ▄▀ ▄▄▀▀▀▀▀▄▄ ▀▄
▄▀ █ ▄  █  ▄ █ ▀▄
█ █   ▀   ▀   █ █  ▄▄▄
█ ▀▀▀▀▀▀▀▀▀▀▀▀▀ █ █   █
█▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀█  █▄█
█ ▀▀█  ▀▀█  ▀▀█ █  █▄█
█  █    █    █  █  █ █
Slots
.
        ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▄
        █         ▄▄  █
▄▀▀▀▀▀▀▀▀▀▀▀▀▀▄       █
█  ▄▄         █       █
█             █       █
█   ▄▀▀▄▀▀▄   █       █
█   ▀▄   ▄▀   █       █
█     ▀▄▀     █   ▀▀  █
Blackjack
.
▄▄▀█████▀▄▄
▄▀▀   █████ ▄▄▀▀▄
███▄  ▄█████▄▀▀▄███
██████▀▀     ▀▀██████
█ ▀▀██▀ ▀▄   ▄▀ ▀██▀▀ █
█    █    ███    █    █
█ ▄▄██▄ ▄▀   ▀▄ ▄██▄▄ █
██████▄▄     ▄▄██████
Roulette
.
█▀▀▀▄             ▄▀▀▀█
█ ▀▄ ▀▄         ▄▀ ▄▀ █
▀▄ ▀▄ ▀▄     ▄▀ ▄▀ ▄▀
▀▄ ▀▄ ▀▄  ▀ ▄▀ ▄▀
▀▄ ▀▄ ▀▄ ▀ ▄▀
▄ ▀▄ ▀▄ ▀▄  ▄
█ ▀▄ ▀▄ ▀  ▄▀ █
▄▀▄ ▀▄ ▀ ▄▀ ▄▀▄
Dice Duels
..Play Now..
Genemind
Sr. Member
****
Offline Offline

Activity: 1386
Merit: 320


View Profile
May 05, 2019, 11:43:27 AM
 #19

People would massively adopt cryptocurrency and use platforms like LN only if there would be cheaper fees or even free services with faster transactions. Cash at some point is cheaper since it isn't volatile but crypto coins would always be more convenient.
bhabygrim
Sr. Member
****
Offline Offline

Activity: 994
Merit: 257


Best Bitcoin Casino www.coinsaga.com


View Profile
May 08, 2019, 07:08:55 PM
 #20

This article argues that clever pricing strategies and the ability to cut transaction fees payments less than $1 may help speed the adoption of cryptocurrencies.

https://cryptostar.money/blog/britain-is-keeping-the-penny-lessons-for-crypto-marketing-teams/

--- update 15:33 ---

Great points Beerwizard and Stompix  below.

When using crypto the buyer pays the transaction fee. Cash is cheaper for them unless they get a discount.
Merchants using Lightning Network might have to close their channel each night to keep their books in order.
Why would people bother using Bitcoin if they would also be charge with fee on each transaction?
Not to mention that there is also a tax on the receipt from the merchant .
So I guess people wouldn't really use Bitcoin as a currency to pay for anything unless the cost for transaction fee would be zero.

coin         ▄▄▄███████▄▄
      ▄███▀▀▀    ▀▀████▄
    ▄██▀    ▄ ▄     ▀██▄▀▄
   ██▀   ▄▄█████▄    ▀██ █▄
  ██▀    ▄█▀   ██    ▐███ █
 ██▀    ▄██▀▀██▀     ▐███ █
▐██   ▄▄█▀   ▄█▌     ███ ██
▐██    ▀█████▀▀    ▄███ ██
▐██▄     ▀ ▀     ▄███▀▄██
 ▀██▄         ▄▄███▀▄███
  ▀████▄▄▄▄▄████▀▀▄███▀
    ▀████▀▀▀▀▀▄▄███▀
       ▀▀█████▀▀▀
saga████  ██
██
██
██
██
██
██
██
██
██
██
██
████  ██
|400+ GAMES
BONUS
AFFILIATE
|20 %██  ████
      ██
      ██
      ██
      ██
      ██
      ██
      ██
      ██
      ██
      ██
      ██
██  ████
▄▄████████████████████▄▄
██████████████████████████
████████████████████████████
█████████████████▀▀  ███████
█████████████▀▀      ███████
█████████▀▀   ▄▄     ███████
█████▀▀    ▄█▀▀     ████████
█████████ █▀        ████████
█████████ █ ▄███▄   ████████
██████████████████▄▄████████
████████████████████████████
██████████████████████████
▀▀████████████████████▀▀
▄▄████████████████████▄▄
██████████████████████████
████████████████████████████
█████████████▀    ▐█████████
████████████    ▄▄██████████
███████████▀    ▀▀██████████
██████████▌       ██████████
████████████    ████████████
████████████    ████████████
████████████    ████████████
████████████▄  ▄████████████
██████████████████████████
▀▀████████████████████▀▀
[/center]
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!