My experience with btc so far.

in #bitcoin • 7 years ago

I wanted to see what all this BTC was about from watching videos I was told the transactions were instant and that this would be the currency of the future... well I am kind of disappointed come to find out that it is in fact not instant... I have been waiting over 4 hours for this transaction to confirm to play some poker and by that time I can't even register to the tournament I wanted anymore because the priced dropped and the tournament is over.

Puuuurfect...

And not only that but the fees you need to pay just to send a little amount makes it really impractical and I doubt this will be considered a currency anytime soon unless something changes.

#cryptocurrncy #earn #money
7 years ago in #bitcoin by
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     7 years ago (edited)

    visa charges you 3% for every transaction. bticoin is less than 1%. Bitcoin transactions are much faster than 4 hours, but no one ever said they were instant, so idk what the hell you're talking about. Bitcoin will never be printed to more that 21 million coins, while trillions of USD are printed every year. Bitcoin will be the currency of the future, but don't worry, even people completely illiterate in technology will be able to benefit from the technology because people smarter than you and me will build apps which will make money transfers a matter of a few clicks, with blockchain as the underlying thech.

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     7 years ago 

    Hi, when you're talking about transactions in large amounts, the transaction fee is pretty less ( comparing it with some 0.5-2% transaction fee by banks ).

    The number of bitcoins is limited, hence this indeed is a problem with BTC, other altcoins can be used for smaller transactions.

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