I suspect transactions on these are actually extraordinarily expensive. AML/KYC will probably be required in various legal jurisdictions which put cost per transaction far above BTC.
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I suspect transactions on these are actually extraordinarily expensive. AML/KYC will probably be required in various legal jurisdictions which put cost per transaction far above BTC.
LOL. Why do people keep repeating something a guy said as if it is the truth? It isn't.
It isn't the truth?
No. AML/KYC can be done without doing it per-transaction basis. That's just a dumb comment that someone posted on reddit or somewhere and everyone seems to keep repeating it. It's just FUD in my opinion.
Look, when you transfer money to/from coinbase in Bitcoin. Does AML/KYC require you to do extra things EACH transaction? No. As long as you know who the sender/receiver is, and your app that interfaces with the chain keeps track of things, it is fine. Your application keeps track of what it needs to.. it's not low-level handled on the chain itself. There is no overhead. Do yourself a favor and stop posting that..