Bitcoin fees...or why BTC is not for the average Joe
I was going to write a long essay about why I think that Bitcoin and all of the POW coins are not going to be an option for the little guys...you know the ones that are unbanked, the ones that suffer high inflation.
To put this in perspective:
The daily minimun wage in Mexico is 80.04 pesos. At an exchange rate of 18.95 pesos per US Dollar a low income worker makes about 4.22 US per day.
To pay for an average BTC transaction fee of $7.48 a regular Joe would need to work almost 2 days... just to pay the transaction fee.
That is why I love Steem...no fees and your transaction goes thru in 3 seconds...not minutes...not hours...3 seconds.
Wow, I never realized how brutal these fees can be for people in other parts of the world. Litecoin would be a much better alternative, or as you wisely said, Steem :)
LTC and BCH are cheap alternatives...but those chains still charge fees :)
And Mexico is better off than most poor countries.
Hola, ¿como hago para leer tu contenido en español? ¿Algun consejo? me gusta lo que publicas y quiza esto me sirva de algo.