Yeah of course, but that's and IOU, it is not a micropayment. Transaction means ... | Hacker News

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		phoinix on Jan 23, 2021 \| parent \| context \| favorite \| on: Ask HN: Why aren't micropayments a thing? Yeah of course, but that's and IOU, it is not a micropayment. Transaction means that the money/tokens are transferred right away. In the example i gave with the light technician happens the same thing. He completes his work and it is the promise of the state that he will be paid at some time in the future. That's called IOU not a payment transaction. It is the promise given only, albeit by a big company we trust, or a state we trust. Or we don't.

dragonwriter on Jan 23, 2021 [–]

> Yeah of course, but that's and IOU, it is not a micropayment

If I pay for something with a credit card, that's a payment transaction. It also involves (a whole chain of) IOUs.

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