@Cryptozeug
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Why the new update helps us to save on fees -------------------------------------------------------- Some noisers are asking about the benefits of the new update. I'll try to explain. Imagine the following scenarios, in both you'll receive $1 in BCH and want to send it afterwards: A) You receive $1 as 1 transaction. So there is only 1 set of data stored in the blockchain. When sending that $1, the fees you have to spend are calculated out of this 1 set of data, so they are very low. B) You receive $1 as 100 transactions containing 1 cent each. So there is 100 sets of data stored. When sending that $1, the fees will be calculated out of the 100 sets of data and might therefor be 100x than in scenario A) That might be a a little simplified but that's the way I understand it. That's why I love the new update. It really helps us to avoid high fees when spending our hard earned BCH later. Thanks you noise.cash for implementing that great improvement. #NoiseCash
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Thank you for laying it out so clearly. This is also how I understand it. No more dusting, am I right? 💙
Exactly, that's the point.
Good to know that I’m finally starting to understand this crypto jargon a little bit!
It's a journey learning about all these things. A very long I believe.
Great explanation! I'd like to add my 2 sats: Separate your wallets NOW! Use the older one with lots of UTXO for smaller payments and the new one for bigger payments
This is actually a great way of explaining the thing I saw first hand the other day when I tried to move my NoiseCash earnings to another wallet. I'm so grateful for the new change as it will let us keep more.
That was really informative as earlier I didn't get the feature I just thought it was there because this way we can use other wallets to store bch which had a minimum amount set at 0.001 BCh but the feature is actually making the transaction fees less too