Bitcoin Fax: a Simple and Efficient Use Case for Bitcoin Micropayments
While Internet citizens find it strange that fax machines still exist, everyone still needs to send faxes at times - often to large legacy organizations, banks and public administrations that still live in the 20thcentury. Sending faxes is difficult because almost nobody has a fax machine at home anymore, and going to a post office seems a waste of time....
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Freelancers are usually working with contractors from all over the globe, which makes the idea of bitcoin micropayments appealing. Not only does this reduce the transactions costs normally incurred through online payments, but it also mitigates the risk of exchange rate fluctuations. Enter Faradam, a new bitcoin micropayments tool invented by Michael Faraday, which uses a simple timer to facilitate payments between parties. Freelancers using the service only need to provide their name, hourly rate, and bitcoin wallet address while contractors receive a link that can connect to the wallet.....
The Lightning Network offers an efficient micropayments channel that reduces load on bitcoin blockchain. Ever heard of the term “Bitcoin Dust”? That’s the case when the transactions are too little in monetary value that it is just not profitable for the network to support such transactions, hence a transaction fee is usually levied. That’s one issue which needs to be addressed and how it can be done is a matter of choice. Let’s say you read something great on the Internet over the weekend and thought it might be a good idea to tip the author with 10 cents, for what it’s worth. Your part is....
tibdit is about to launch the world’s first digital bitcoin based micropayment system. This company has designed a new kind of micropayments service based on cryptocurrency technology, specifically designed for online service providers, online content and online shopping in a way that appeals to the general public. The tibdit platform app is designed to allow anonymous micropayments that are rechargeable using card payments in national currencies such as GBP, EUR and USD. A sheer number of companies already attempted to present a solution for casual online micropayments but no one until....
In an announcement posted to the company’s blog on Medium, 21 Inc. revealed details about the 21 Bitcoin Computer’s unique ability to facilitate micropayments between users. Updates to the group’s main consumer facing product, released in November 2015 and available for $400, now open unchartered possibilities for integration and usage of micropayments for Bitcoin fanatics, entrepreneurs and developers alike. 21 Inc. and Micropayments. The post reads: “Today we’re announcing the release of software and libraries to allow high frequency Bitcoin-based microtransactions between any pair of 21....
Like most emerging technologies, bitcoin exists in a gap between what could be possible should the technology mature and its abilities today. For instance, there may be no older and bigger 'buried treasure' use case for bitcoin than its ability to serve as a protocol for micropayments. Compared to credit cards and PayPal, the latter of which defines a micropayment as less than roughly $5, bitcoin is divisible into 100 million smaller units called Satoshis, valued at $0.000002 at today's price levels. Proponents have long theorized that this divisibility, coupled with a wider adoption of....