this post was submitted on 10 Jul 2023
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crypto is the beanie babies for this generation. Some people are going to make a lot of money but a vast, vast majority are going to be the proud owners of something worthless that they spent a lot of money on.
OK, thanks
You don’t have to put your life savings in, just use it to send 5 bucks across the network the same way you use Venmo
To what end? So it can get converted into a real currency immediately? I understand (since you spammed it everywhere) that you can donate via crypto, but that's only because crypto can be converted into a real currency.
Give it up, my friend; fetch isn't going to happen.
this comment is fetch.
Ok I give up crypto is the worst thing ever
I can, via AliPay or WeChat wallet, reach out and send money to anybody on the AliPay or WeChat networks in seconds.
How long does an average Bitcoin transaction take again?
For small transaction (under 1000RMB/~US$140) there are zero transaction fees. For small businesses (doing under 10,000RMB/mo. in transactions) there are zero transaction fees as well. After that 10,000RMB limit is reached the transaction fees cap out at about 2% (they start smaller and ramp up as transactions increase).
What's the transaction fee for Bitcoin transactions again?
If fraud happens when I buy something (like a business sends fake goods, or doesn't deliver anything, etc.) the Ali Network (or Tencent for WeChat) steps in and reverses the transaction. I lose nothing. In addition if a business was egregious in its fraud, or has a history of doing it, the Ali Network (or Tencent) can and will remove that business' ability to, well, do business. A cancer is excised.
What's the recourse for bad transactions on Bitcoin again?
Donating via Bitcoin is the dumbest single way to donate. It's slow, it's expensive (robbing the people you're donating to of cash!), it's unreliable, and it's prone to abuse.
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