$ 183 million in ETH moved with $ 0.06 fee.

in #bitcoin2 years ago

$ 183 million in ETH moved with $ 0.06 fee.

ETH block 6556384 went through 5080 confirmations to transfer $ 183,000,000 with $ 0.06. it took 19 hours.

ETH transaction fee was lower than what Western Union charges for sending $ 50. Western Union should have sent the same amount by taking out $ 120 off each $ 3,000 transferred. PayPal should have transferred $ 183 million by charging a $ 5.3 million fees in an average East-to-West payment corridor.

despite its innovation, cryptocurrencies see lower adoption rates compared to PayPal and Western Union, because they are volatile. what’s more problematic is liquidity. the exchanges responsible for interchanging fiats and cryptos are less liquid than required in the absence of 1) banking partners and 2) regulations.



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ETH and XRP will outcompete BTC’s dominance in coming years – Nigel Green.


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