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107 sats \ 0 replies \ @kr OP 23 Jul 2022 \ parent \ on: Payment Systems And Their Fees bitcoin
basically none, because existing financial rails don’t support small payments.
imo the more interesting question is how many payments will be under $1 on lightning? what new use cases can we unlock that were never before possible?
look at how many new use cases the internet has unlocked when the transaction costs for moving information dropped to zero.
all the tiny transactions we make every single day (posting on twitter, instagram, googling things, reading blogs, etc…) were simply never feasible prior to the internet. but of course, these tiny transactions have spawned the biggest companies in the world.
on the payments side, we’ve got lots of emerging examples already (stacker news, fountain, mash, etc…) and there are lots more on the way. how many of the tips sent on v4v apps are under $1? probably most of them.
and when users can pay directly with their nodes or wallets, seamlessly moving sats anywhere on the internet, i suspect we’ll see a ton of new use cases that were always useful but simply never possible before.