Bloomberg- bitcoin’s high transaction fees show its limits – Bitcoints

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Published on November 14th, 2017 | by bitcoin

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Bloomberg- bitcoin’s high transaction fees show its limits

Bloomberg- bitcoin’s high transaction fees show its limitsNo 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.
This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.

Source: News.google.com

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