> The day a network exists where you can reliably send like $0.001 of value with little/no fees is the day the internet changes forever.
It will change absolutely nothing whatsoever.
> So many ideas are infeasible right now because CC fees are high, and making any payment is extremely high friction.
Making payments will always be, is inherently high friction, and reducing the amount does nothing below a threshold that is much, much higher than $0.001.
There have been lots and lots of micropayment schemes, and they have all failed because the very fact that there is a payment already introduces mental friction that's effectively higher than current CC fees.
Any idea that is infeasible because there is no way to reliably send $0.001 is in fact easily feasible today by monetizing it some other way, usually via ads.
Lower fees are only relevant for high-volume fully automated transactions with a substantial financial incentive behind them, and those can already be done basically for zero marginal cost, see HFT. The only micropayments that people are willing to engage in individually is when they involve addiction, and that as well can and is already done in gambling apps masquerading as games.
It will change absolutely nothing whatsoever.
> So many ideas are infeasible right now because CC fees are high, and making any payment is extremely high friction.
Making payments will always be, is inherently high friction, and reducing the amount does nothing below a threshold that is much, much higher than $0.001.
There have been lots and lots of micropayment schemes, and they have all failed because the very fact that there is a payment already introduces mental friction that's effectively higher than current CC fees.
Any idea that is infeasible because there is no way to reliably send $0.001 is in fact easily feasible today by monetizing it some other way, usually via ads.
Lower fees are only relevant for high-volume fully automated transactions with a substantial financial incentive behind them, and those can already be done basically for zero marginal cost, see HFT. The only micropayments that people are willing to engage in individually is when they involve addiction, and that as well can and is already done in gambling apps masquerading as games.