Replying to Avatar Petroit

#bitcoin is still the cheapest and fastest. There is no alternative which would allow you to send thousands or even millions of dollars in matter of minutes and pay only cents or maybe couple dollars on fees during peak periods.

And if you want to pay smaller amounts, you can use lightning ⚡ which is essentially free. And most merchants that accept bitcoin accept lightning already too.

Block space being limited is a feature of bitcoin that ensures there is security budget for miners in the future.
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LogicallyMinded 2y ago

The cheapest and fastest? Sorry, but there are plenty of #crypto that are cheaper and faster than #Bitcoin. Of course they have missing properties against Bitcoin.

I thought fees were mostly to prevent spam transactions but if it is to guarantee miner revenue then I guess it is a trade off between usability, security and fix supply.

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Petroit 2y ago

Find me crypto either as fast as lightning on L1 or with functioning and comparable L2.

I don't think there is. And if so, it's definitely not as decentralized and secure.

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LogicallyMinded 2y ago

#Avalanche #Avax has sub 3 seconds finality. I didn’t say those would be as decentralized although #lightning isn’t a great example because it’s not that decentralized either. #Bitcoin is notoriously slow and expensive but it’s also the most secure.