$35 million worth of ETH for a ridiculous $0.07 transfer fee?

[viananda2525]

With this transaction fee hopefully it could attract international trader or giant company that usually use fiat in their transaction swith their payment system to cryptocurrency.  Their transaction amount were very big , and if its siwtched and they use bitcoin or other coins , it could make huge money come to market. Major cryptk price will increase extremely , and ofcourse they could reduce their fee in each transaction.

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[kissme09]

Because of that convenience, governments have struggled to control cryptocurrencies and banks want blockchain technology.
Banks are aware of the transparency of transactions on Blockchain of bitcoin, ethereum ... Saving money transfer time is saving money. Banks can increase transaction fees to make a profit, but in exchange for blockchain technology, they can make more transactions, which means they will have more customers.
For governments through banks they control large transactions and seek to investigate owners and tax or confiscate the money they have for failing to guarantee the rules of that country.

[BitHodler]

XRP army be like "yo we can do that for one tenth of a penny and in 3 seconds"  

In this specific case it helps that there is not much network congestion, otherwise the fee would have been higher, but it just shows that we don't need to pay financial institutions $50-$100 to move value from one account to another.

Maybe that these developments within crypto will reduce the cost of the legacy banking system, but I have my doubts. If there was an incentive for them to do so banks would have done it already, but they are fine letting people overpay big time.

[yangongear]

Yes, that's the great thing that makes the cryptocurrencies community so big right now, transaction fees are almost fixed for any amount of money, and the ability to transfer money across borders. That is also why governments are seeking to control or ban crypto.

[Vishnu.Reang]

For publicity purposes... such news can be good. But for the ordinary user, it is of hardly any use. The vast majority of the cryptocurrency users move less than $100 worth of coins at a time. For them, this feature will not be useful. What the average user wants is a stable low fees, compared to the highly volatile system we have right now. And this is applicable to all the cryptocurrencies.

[Pecunia non olet]

We are seeing the true power of cryptocurrencies. You can transfer your funds in a very safe way, globally + with very low fees. Also Bitcoin was mentioned before when some whale transfered thousands of dollars an the transaction fee was around 1USD. The future is real! So who is still missing the real potential of cryptocurrencies?

[pant-79]

This and many more is the reasons why Cryptocurrencies are uniquely positioned to be the future of payments, no middle-man, no ridiculously high fees, no stupid laws that prevents you from peeking into destination accounts to know if the funds you have sent has arrived or not, no delays in the execution of transactions and the best part is that you don't have to fill any single paper work, all you need is an internet enabled device and that's all.

[knuckey]

That is why crypto is hated by banks, especially those who have direct connections to the government. They will certainly suppress and inhibit crypto, because crypto is a real threat to their business.

Talking about low transaction fee, then yesterday's upbit hackers only needed $3 to move the proceeds of crime worth $48 million, how crazy.

[CristianOff]

That's why we all love crypto. It's the best in business for the best in the world 
The best part is that even with "exit fees", when you convert your crypto to fiat because your local market doesn't accept
crypto, you just wait for the ETH price to increase and leverage your "exit fee" taken by exchanges.