Bitcoin Payments with "very low fees"
Just came across a video from Niklas Nikolajsen (Bitcoin Suisse) how he used bitcoin to pay for goods and services.
And the claim at the end of the video was: "bitcoin spent on a wide range of goods and services, with very low fees ...", which got me interested. Here is the video itself: https://www.youtube.com/watch?v=PPfBHQE99uc
I got interested what "low" means and went over all payments in the video:
Watches: https://blockchair.com/bitcoin/address/3D5EWNu7B4RhPeGdJ4eZdqFARWGEcoe8sf Amount: $36K, Fees: $3.66
Coffee Not Displayed
Passport notarization https://blockchair.com/bitcoin/address/37RqCcNRTc2Zzu2TcrmJ5mVfvBRb1mL6yt Amount: $21.34, Fees: $4.15
Legal services Not displayed
Museum Not displayed, but highly likely this one: https://blockchair.com/bitcoin/address/3EE6ao8RJkqCFNUDfYonDCcUYJBRgsvAsc Amount: $10.83, Fees: $4.15
Restaurant https://blockchair.com/bitcoin/address/3Q9kvP3RBHpL2wj98dfC1PF9ys1ZXTQyPT Amount: $322.23, Fees: $4.26
Wine Not Displayed
Drinks https://blockchair.com/bitcoin/address/3GU6d6LpuXsPkvC4T3kDCHZewfpNP4Bbvu Amount: $1400, Fees: $4.64
Gold Not displayed
Driver https://blockchair.com/bitcoin/address/3A5L83kezXXhufFWCkkyEJ1Nc9rLgY6tiM Amount: $1086, Fees: $5.17
Hotel Not Displayed Highly likely this one: https://blockchair.com/bitcoin/address/3M38XvihxAn2HmwhLCw18GTW5tPyHjWbbP Amount: $7425, Fees: 5.17
Let's assume the fees for the non-identified payments are $4. Total during the day: - 11 payments - Total miner fees paid: $47.2
This sounds like an amount someone can live on for 1 month. It is great bitcoin made people rich, but pretending that it is usable as a payment is ridiculous.
Merry Christmas to everyone and enjoy "very low fees"!!
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