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Author Topic: Comparison of buying a cup of coffee with crypto  (Read 346 times)
TribalBob
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June 16, 2021, 12:58:45 PM
 #41

Paying for some small and low value crypto for now, is not the happiest option. The problem may be in high fees or long confirmation times, but we cannot deny that bitcoin does have high transaction fees compared to other coins. The reason for this is that the bitcoin community has increased too much and this is causing a huge traffic of transactions.

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22bits
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June 16, 2021, 01:41:54 PM
 #42

Flawed comparison  Shocked taken when bitcoin transaction fee was higher.  If you are looking at transaction fees go with a zero fee option coin.   
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June 16, 2021, 01:45:53 PM
 #43

Paying for some small and low value crypto for now, is not the happiest option. The problem may be in high fees or long confirmation times, but we cannot deny that bitcoin does have high transaction fees compared to other coins. The reason for this is that the bitcoin community has increased too much and this is causing a huge traffic of transactions.

It's not an effective thing to use Bitcoin to buy a cup of coffee that has a cheap price, because Bitcoin is known to have expensive transaction fees
compared to other cryptos. Therefore several times I have said that Bitcoin is not to replace the role of fiat, but is more suitable as an alternative
payment. Because the transaction fees that Bitcoin has are quite high, only items that have high prices are suitable to be purchased using Bitcoin.

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June 16, 2021, 06:21:13 PM
 #44

Why would I pay for a cup of coffee with bitcoin when in a decade or two that same bitcoin would buy a computer... in that same amount of time that same amount of fiat that buys that coffee today would only buy half of it. No sir, use the fiat for the coffee and HODL onto the bitcoin. :-)
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