Free Bitcoin transactions, an eventual reality?

[Jarrod]

Free Bitcoin transactions, an eventual reality?

- nuuuitsjdragon

Something huge could be in the works for the entire Crypto-market. 

With reference to an article on xitheon(

“Ian Brian Armstrong, Coinbase's chief executive officer, has just been granted a US patent (#10,510,053) for a system of sending bitcoin to email addresses without any miner fees. The method entails using email addresses that are connected to their online wallets, to send bitcoin as fluidly and easily as an email. 

The patent appears to exclusively focus on bitcoin, with no mention of other crypto assets, though that should not be taken as a sign there won't be changes made in that regard. 
 
The email system, assuming it's being implemented into Coinbase, will also feature a separate point of exchange allowing users to exchange fiat & bitcoin using a linked bank account. The entire structure suggests that no portion of it will charge users fees, instead these fees will be placed solely on the miners of the currency. It is being suggested that users may end up paying transaction fees when withdrawing their bitcoin to external wallets & services though.”

Just like the early days of the internet, Bitcoin or rather - the entire Cryptocurrency sphere, is constantly evolving in all aspects. This has led to the rise of many projects, each with their own coin and story. 

Upon closer scrutiny, many of these lack potential and are destined to perform poorly once they outlive the initial hype. Since many of these were forked off Bitcoin in attempts to fix the flaws, they still share the same problems, agreeably slow speed and high fees, just to varying extents. 

This is why mass public adoption is still but a dream. The blockchain system was not created with the intention of serving the entire world as centralised currency; but rather as decentralised currency resulting in a fairer system. Such patented technology is almost-mandatory, if the goal is to have the public be able to use it without bog-downs or fee spikes. 

Huge, impactful companies like Coinbase can make a difference. 

Innovation, can at the very least, help defuse some of the bad stigma by media portrayal. 

Although still too early to tell, Cryptocurrency users everywhere are bound to be envisioning a future where free (and fast) Bitcoin transactions are an actual reality.  

[jamesbond]

This might be a innovation in bitcoin transactions, but it will not work with the idea of anonymity and many people dealing in crypto and bitcoin don't like to show their identity.  Showing their bitcoin wallet email to others also makes their bitcoin wallet vulnerable.  Still it is a nice idea to do the transaction without fees and now you can send Dash with just text messages and without internet so that might also take the things to a new level.

[bliznec]

Most likely, it is not realistic to be able to use Bitcoin sending without payment. There is always payment and it is available for transactions. 

[skrieeee]

Just imagine sending bitcoins without transaction fees would be a change to the cryptocurrency era, but it's impossible to do so. All cryptocurrencies have fees when withdrawing, without it exchanging sites would not exist since that's the only way they can run the business or their website. But its an hard guess if that really happens, but hey nothing's impossible tho ¯\_(ツ)_/¯

[Baqee]

Making transactions with BTC without being charged will be sa dream come true. But i wouldn't be so sure about this because the sites or apps that offer such services won't make profit. I guess we will have to wait and see.

[AlphaStorm]

In my opinion, this method will be a threat to the privacy of the holders. And also the lack of commissions will reduce the interest of miners, which will also negatively affect the network as a whole. This seems like a bad idea to me

[nsinalis11]

On 3/4/2020 at 1:57 AM, Jarrod said:

Free Bitcoin transactions, an eventual reality?

- nuuuitsjdragon

Something huge could be in the works for the entire Crypto-market. 

With reference to an article on xitheon(

“Ian Brian Armstrong, Coinbase's chief executive officer, has just been granted a US patent (#10,510,053) for a system of sending bitcoin to email addresses without any miner fees. The method entails using email addresses that are connected to their online wallets, to send bitcoin as fluidly and easily as an email. 

The patent appears to exclusively focus on bitcoin, with no mention of other crypto assets, though that should not be taken as a sign there won't be changes made in that regard. 
 
The email system, assuming it's being implemented into Coinbase, will also feature a separate point of exchange allowing users to exchange fiat & bitcoin using a linked bank account. The entire structure suggests that no portion of it will charge users fees, instead these fees will be placed solely on the miners of the currency. It is being suggested that users may end up paying transaction fees when withdrawing their bitcoin to external wallets & services though.”

Just like the early days of the internet, Bitcoin or rather - the entire Cryptocurrency sphere, is constantly evolving in all aspects. This has led to the rise of many projects, each with their own coin and story. 

Upon closer scrutiny, many of these lack potential and are destined to perform poorly once they outlive the initial hype. Since many of these were forked off Bitcoin in attempts to fix the flaws, they still share the same problems, agreeably slow speed and high fees, just to varying extents. 

This is why mass public adoption is still but a dream. The blockchain system was not created with the intention of serving the entire world as centralised currency; but rather as decentralised currency resulting in a fairer system. Such patented technology is almost-mandatory, if the goal is to have the public be able to use it without bog-downs or fee spikes. 

Huge, impactful companies like Coinbase can make a difference. 

Innovation, can at the very least, help defuse some of the bad stigma by media portrayal. 

Although still too early to tell, Cryptocurrency users everywhere are bound to be envisioning a future where free (and fast) Bitcoin transactions are an actual reality.  

it is total free?  no fees?

[fernandez554]

if that happens , there is some cryptos that use that as their difference from another currencies , if there is no fees for bitcoin transaction many another coins will be dropped .

[Pandarian]

I think its free bettween the CoinBase accounts. So actually you dont make a transactions on ledger. Rather within the coinbase database. If you send money to other wallet outside coinBase it will charge fee.

[ekauspex]

I think now the cheapest transaction over the network lighting , minimum fee and have the opportunity to earn if you put node .