this post was submitted on 21 Sep 2023

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Technology

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95% of NFTs are Worthless: Report (petapixel.com)

submitted 1 year ago by alyaza@beehaw.org to c/technology@beehaw.org

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[–] jarfil@beehaw.org 3 points 1 year ago* (last edited 1 year ago)

Bitcoin had a huge congestion problem in 2021, it's been mostly solved now with major exchanges accepting Lightning Network.

For comparison:

Bitcoin LN: $0.0001 fee, minimum $0.0003, arrives in under a second to a minute
Bitcoin normal: around $1 fee, minimum around $0.04, arrives in 1 or 2 hours
SEPA: 0€ fee, minimum 0.01€, takes between 10 seconds and 2 days
SWIFT: charges up to $20-30 and 2-5% for currency exchanges, takes 1 to 5 days

In 2023, Bitcoin with LN support is comparable to EU transfers, way better than international transfers, and better for microtransanctions.

Its investment value has been overhyped, it's too volatile for long term value storage, but that's irrelevant for instant value transfers.