CryptoTech_
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February 07, 2021, 05:03:26 AM |
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I think fee less is radical move and isnt necessary for the blockchain adoption, people are mostly compliant to pay the fee if its rational. Also if the transaction became fee less,
For mass adoption, low fees are needed, because we all cannot possibly pay high fees just to buy something cheap i think the network will be very busy and make many queued transactions in the blockchain. One day there will definitely be a blockchain platform that can accommodate all activities, without being busy.
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makishart
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February 07, 2021, 07:34:44 AM |
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Hmmm... pretty interesting. Feeless platform is good but the main concern should the usability that can attract a lot of people to join in crypto. Fee is always needed as the operational for the platform. Feeless can attract people to use blockchain but remember it will not be so long. People should join due to the usefulness of crypto. This would be a very interesting thing to see that. Even without the feeless chain and crypto already attracted the massive adoption from advertisement by various media
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Kang TB
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February 07, 2021, 09:58:29 PM |
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yes, long time ago people think if use blockchain network the fees will be lower but now as we can see the fees become so high, and maybe the best advantages from this technology is only transparency if the fees still high
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kooboat
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February 09, 2021, 09:32:06 PM |
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The adoption of blockchain is already in motion. Looking at the increasing digitization and the recent announcement by Tesla, many individuals are beginning to appreciate the power of blockchain through cryptocurrencies. It's a well known fact that many central governments oppose the use of crypto. The recent high gas fees especially on the ethereum blockchain has also become an issue. In any case, no one would like pay high charges on transactions involving small amounts.
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oemar bakrie
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February 10, 2021, 05:12:04 AM |
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looking for loopholes when there is a pandemic like this.. all countries are trying to rise to an economic downturn to change everything, therefore the digital market or blockchain is trying to make changes that are easy for everyone to understand, especially those in the circulation of digital money..
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kooboat
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February 10, 2021, 10:07:34 PM |
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For effective adoption of cryptocurrencies for various payments, there must be a system where there is flexibility to choose from a wide range of coins. For instance look at the system of operation of coinpayment and bitpay. These two entities provides a platform where a variety of coins like XRP, BNB, DASH etc can be used for payments with less transaction fees.
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krisnajsadrak
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February 10, 2021, 11:07:10 PM |
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online industries need low fee rather than high fee on every transactions for example if we want to buy something and the price was cheap such us $20 or less, but to send the money to the seller we need more than $20 as the fees, i think thats some kind of ridicilous things right ? thats why i agree with you if feeless is needed mate
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CuriousGeorge
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February 10, 2021, 11:11:44 PM |
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looking for loopholes when there is a pandemic like this.. all countries are trying to rise to an economic downturn to change everything, therefore the digital market or blockchain is trying to make changes that are easy for everyone to understand, especially those in the circulation of digital money..
It doesn't look as if blockchain was helping a lot of countries. There are lots of countries are still abandoning blockchain and the country like nigeri was even banning it right now. The blockchain will the benefit for the country that already declared to adopt it. So many citizens from that countries were able to join in the crypto market. That gives more benefit for them all
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Ziskinberg
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February 10, 2021, 11:22:25 PM |
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No, it's not. We can have this adoption if we wanted too while neglecting the fees. Mining industry just survive because of our fees. If we wanted to have a feeless market, how these mining companies will live? I have to disagree this and it really never works. We don't need to have this feeless blockchain system, what we need is to have a favorable fees, $0.5, $1, that I think it was acceptable.
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hulla
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February 10, 2021, 11:36:50 PM |
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The exclusion of transaction fee may have help DeFi in some area but its completely not what bring DeFi to the spotlight. The last time I checked the services rendered by the centralized institutions/business attract a certain fee and the fee doesn't hinder its adoption then why will the transaction fee hinder cryptocurrency adoption? I think the TPS is the only primary issue that needs to be addressed as mass adoption of cryptocurrency is a concern.
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kapalmabur
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February 10, 2021, 11:39:15 PM |
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There is no doubt that blockchain technology will be at its heyday, because mass adoption will occur. We have seen that mass adoption occurs little by little, many companies enter into bitcoin and blockchain, Tesla, Twitter, and Microsoft and even Google has also entered this technology, of course the price of cryptocurrency will also be better than last year.
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imstillthebest
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February 10, 2021, 11:52:44 PM |
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fees are not the priroty people look when considering to adopt blockchains in their businesses but its the complexity of it but if they learn it and educate their clients amd costumers about blockchain they all can enjoy the benefits of this technology .
fees are high for major blockchains like in btc but there are coins that have less and no fees . if they want they can use this but it will be wise if they will choose btc and btc blockchain because it was stable and more popular .
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S4VV4S
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February 12, 2021, 01:59:42 PM |
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Blockchain adoption must also be prevented until this happens, it needs a solution in the future, now if high gas costs are not a serious obstacle for us, our priority is now the continuing movement in crypto with the issue of allowing only a few blockchains high gas costs and not all have the same rules
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didzi
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February 14, 2021, 06:06:52 PM |
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indeed, we need feeless for our transactions with blockchain tech, and if this happend for sure blockchain adoptions will come shortly
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Gozie51
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February 14, 2021, 06:19:54 PM Last edit: February 14, 2021, 08:07:17 PM by Gozie51 |
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The adoption is increasing because of institutional traders and that has made bitcoin dominance to also shoot up but talking regarding fee less transaction as op has started, I don't see it happening that miners won't get any kind of fee from transactions. I also have seen a high rate of transaction fee and also delayed processing maybe because of bitcoin volatility.
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uneng
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February 14, 2021, 06:46:17 PM |
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The less infrastructure is attached to digital payment options — and, ultimately, non-payment-related data transactions — the freer companies and people will be to truly lean into innovating while using decentralized technologies. Quoting this part of the article I understand that with feeless they mean no fees, right? If so, that is a an utopic thought, because there is no way a decentralized network like blockchain will work without fees, as we know the miners who run it want to be rewarded for their work and expenses running their equipments. On the other hand, fees really need to drop and a lot, otherwise many market niches will be unable to use blockchain as payment network for their businesses, especially the micro transaction ones.
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Billo_
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February 15, 2021, 01:31:19 AM |
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Yes, high fees are a very big problem for Ethereum currently. It need to be solved and devs need to finish Ethereum 2.0 very soon or adoption will be unsuccessful. People can't pay huge fees for small transactions, it has huge expenses for us. We need low fees for crypto to be used if you buy also for low amounts like a Kebab.
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asriloni
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February 20, 2021, 12:52:57 AM |
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thats right, and thats could be the main causes why this technology need feeless if we want to see mass adoptions come to blockchain tech my friend
Feeless is not everything in crypto and why don't you try to use IOTA or NANO to get the zero fees transaction? Scalability is important enough but utility is much more important than it. As long as the TPS can handule up to or more than 1k - 10k TPS and that will be enough to be used for the massive adoption but when your blockchain is scalable enough but it doesn't have utility usage and no one will try to buy or use your platform. People wanna adopt it when it can give a lot of benefits for them all. That should be the best answer.
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cabron
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February 20, 2021, 01:17:27 AM |
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The less infrastructure is attached to digital payment options — and, ultimately, non-payment-related data transactions — the freer companies and people will be to truly lean into innovating while using decentralized technologies. Quoting this part of the article I understand that with feeless they mean no fees, right? If so, that is a an utopic thought, because there is no way a decentralized network like blockchain will work without fees, as we know the miners who run it want to be rewarded for their work and expenses running their equipments. On the other hand, fees really need to drop and a lot, otherwise many market niches will be unable to use blockchain as payment network for their businesses, especially the micro transaction ones. Now we can say we are stuck in this situation and live with it. the microtransactions today will not be micro when after a year the price of the token will rocket. The fees for Cardano could be a tiny fraction of a dollar for now but it will cost a lot if its price goes up. There is a platform that is seemingly forgotten but offers free transactions like EOS.
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sgenuine
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February 20, 2021, 07:03:08 PM |
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The blockchain technology market is just at the beginning of its journey. Companies are gradually adopting blockchain to optimize production. Blockchain would be convenient for all governments and corporations to gain the trust of the population and customers. For example, transparent conduct of transactions, public publication of results, payment for transactions without delays. The government will be able to use the blockchain to register applications from citizens or to authenticate their applications. This is a completely different level of development for countries and large international companies.
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