this post was submitted on 10 Aug 2024
93 points (98.9% liked)
Technology
37742 readers
489 users here now
A nice place to discuss rumors, happenings, innovations, and challenges in the technology sphere. We also welcome discussions on the intersections of technology and society. If it’s technological news or discussion of technology, it probably belongs here.
Remember the overriding ethos on Beehaw: Be(e) Nice. Each user you encounter here is a person, and should be treated with kindness (even if they’re wrong, or use a Linux distro you don’t like). Personal attacks will not be tolerated.
Subcommunities on Beehaw:
This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Bitcoin is not practical for small purshases, because transaction takes several minutes, and have around 50USD per-transaction fee. Note the cost of fees and value of bitcoin vary wildly, so the same amount of bitcoin may be enough to pay rent in August, but not in September.
On a more ethical level, it's also quite bad because of the insane energy cost of bitcoin transactions.
$50 per transaction fee is on the exceptionally high end.
The average fee for the last 24 hours was $0.81 per transaction according to https://mempool.space/mining
I agree with your other points.