The main problem seems to be that I will not be able to utilize these bars of gold right after the crash, because they are way too
big for small transactions.
In my experience these types of charges are (understandably) more
common for small transactions, and for businesses that deal primarily in small transactions (like convenience stores).
Merklized Abstract Syntax Trees (MAST) are a proposed addition to Bitcoin that
allows for smaller transaction sizes, more privacy, and larger smart contracts.
Generally LN transactions are cheaper, more
useful for smaller transactions and have better privacy properties, but bigger transactions, which require off - line signatures will most likely utilize the on - chain atomic swaps.
That removes some of bitcoin's appeal as an alternative to, say, Visa, which charges merchants about 10
cents for small transactions or about $ 1 for the average swipe.
Toscher and Stein's slides also make note of the American Institute of Certified Public Accountants (AICPA) proposal for a de minimis
exception for small transactions.
As of now, all bitcoin shifting out and in of Coinbase and Bitfinex occurs by way of a SegWit enabled handle,
permitting for smaller transaction dimension overhead and consequently, decrease charges to be accomodated in a mined block.
«Nobody would argue that personal relationships are unimportant, but it is unfathomable that people in the U.S. would engage in such extensive communications and personal
interactions for a small transaction,» said Pavlou, the Fox School's Milton F. Stauffer Professor of Information Technology and Strategy.
The combination of Merkle trees and ASTs make it possible for more complex data sets to be added to transactions within the Bitcoin blockchain while still allowing
for smaller transaction data due to the use of Merkle proofs.
By offering a less valuable and more numerous currency that could be transacted faster and cheaper, Lee and his team created a coin that Bitcoin Hodlrs could
use for small transactions.
Other stories: Community lenders are finally getting back into commercial
lending for small transactions, and the federal government has an online guide to walk real estate professionals through the coming closing process changes.
Merklized Abstract Syntax Trees (MAST) are a proposed addition to Bitcoin that allows
for smaller transaction sizes, more privacy, and larger smart contracts.
For smaller transaction sizes, Bitcoin Money charges have already exceeded that of bitcoin because of the shrinking mempool.
I prefer checks, actually, because of the rather high percentage that PayPal takes in fees
for a small transaction.
For smaller transactions, we use smaller number of UTXOs which result in smaller transaction size.»