Published on November 14th, 2017 | by bitcoin0
Bloomberg- bitcoin’s high transaction fees show its limits
No wonder the medium transaction size at the time of this writing exceeded $800 after reaching a peak of almost $1,300.
One can get a Bitcoin debit card and use it anywhere cards are accepted, but the fees on them — charged on top of the Bitcoin transaction fees — are generally higher than at your bank.
For merchants, it’s convenient to sign on to accept the cryptocurrency via specialized payment platforms — but then the rate volatility and the same high transaction fees make it unattractive for a merchant who mostly works in a fiat currency economy.
As the sole issuers, they will fit their systems to historical transaction volumes and dictate transaction fees.
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