1. Transaction times are long (6 blocks to confirm)
2. Transaction Fees of 0.0001 BTC could likely incur for transactions smaller than 0.01 BTC. This is about a $0.03 USD transaction fee for transactions under $3.30.
My solution to these limitations is to trade BTC on a distributed, low-transaction fee, fast confirming exchange.
That is why today I launched a BTC to Stellar gateway for my p2p microlending startup at https://onecred.com
I expect to see a lot of things people never imagined were possible once bitcoin's store of value combines with a distributed exchange that is good at the things that consumers need (speed, low fees, security, decentralization).
1. Transaction times are long (6 blocks to confirm)
2. Transaction Fees of 0.0001 BTC could likely incur for transactions smaller than 0.01 BTC. This is about a $0.03 USD transaction fee for transactions under $3.30.
My solution to these limitations is to trade BTC on a distributed, low-transaction fee, fast confirming exchange.
That is why today I launched a BTC to Stellar gateway for my p2p microlending startup at https://onecred.com
I expect to see a lot of things people never imagined were possible once bitcoin's store of value combines with a distributed exchange that is good at the things that consumers need (speed, low fees, security, decentralization).