I was asking for an example.
You would have to think of one yourself, if you dare to think outside the sphere of conventional merchandising. I am implying a value transfer system
that could transcend
the current use of any currency. I admit it is idealistic. But I think it's useful to let it out that we were disappointed to find out Bitcoin will not be our saviour for that problem.
Why would anyone need to send millions of single tiny transactions in a year? Micro-coin-tumbling?
Like I told, there is a whole new world of applications for that. Only now I know it's off the Bitcoin topic though.
At some time in the future, the only payment miners will receive will come from tx fees
Ok, that solves it (for the side I wouldn't prefer). I'm only learning of the internals, wasn't sure that would ever be the case.
As for insignificant transactions, I'd consider that anything which is less than ~$1 worth of Bitcoins
You realize such consideration is truly arbitrary and in reality there aren't such as insignificant transactions - other than ones for testing. The whole concept of transaction
implies that something non-insignificant is moving.
But like you said, zero transaction fee is just a question of policy and not defined by the system. If miners received reward blocks forever then a zero fee system could carry on. Indeed, we'll have to wait for another system to set us free from the cost of transferring value.
Sendmany makes it possible for the fee to be trivial even for microtransactions.
Thanks. Only now do I realize this is technically possible. It certainly is not apparent when one starts to use and even learn some internals of bitcoin.
Though if you have a service that handles those micro transactions internally (denominated in bitcoins or something backed by bitcoins even) and only sends to and receives from the blockchain the deposits and withdrawals for its customers, then you can do that and is something well served by Bitcoin.
Yes, well, it seems Bitcoin at least sets us halfway there for enabling feasible transfer of miniscule value. Being dependent on a second tier system can however be compared to bitcoin being dependent on USD, which is not sustainable, but it seems all that can be done.
... which brings us to my earlier question: How large zero-fee pool would be required to ensure timely (to some degree, and not arbitrary like now) transmittal of zero fee payments?