11–20 of 92 posts
Can LN truly scale to support feature parity with Visa/AMEX? By feature parity I mean not only tx/s but also
- Always readily available for places that support it (I never have to wait to open a channel, I never have to "pre-deposit" funds anywhere) - Fraud protection by default (I can have illegal transactions unwound)
And can that be done at a price point that's significantly cheaper than existing players?
I don't think I've ever seen the word "could" do more heavy-lifting than in this headline.
The submitted headline is also not the source headline ("Is the Bitcoin Lightning Network for real?"
> "$150B is comprised of fee revenue for credit card and international remittances for both commercial and consumer sectors"
This assumption that the lightning network would distrupt the credit card industry without any form of fraud/dispute handling is laughable.
Lightning Network is just a centralized company acting as a middleman, occasionally (if ever) committing changes to the blockchain right? If that is the case, then theoretically Visa and Paypal are already lightning networks, just without the periodic bitcoin commits. If so, wouldn't that mean that if Visa and Paypal are banned from letting country X citizens send funds to someone in country Y, wouldn't the gov of X…
In short, crypto needs to grow up. But I'm afraid most of the people throwing their weight behind it today prefer it in its current state.
^[1] Yes, "gas" (barf) fees are down today. No, I don't consider that representative of the current crypto ecosystem in a "healthy" state. See also: GPU prices.
Lightning Network is just a centralized company acting as a middleman, occasionally (if ever) committing changes to the blockchain right? If that is the case, then theoretically Visa and Paypal are already lightning networks, just without the periodic bitcoin commits. If so, wouldn't that mean that if Visa and Paypal are banned from letting country X citizens send funds to someone in country Y, wouldn't the gov of X…
Lightning Network is just a centralized company acting as a middleman, occasionally (if ever) committing changes to the blockchain right? If that is the case, then theoretically Visa and Paypal are already lightning networks, just without the periodic bitcoin commits. If so, wouldn't that mean that if Visa and Paypal are banned from letting country X citizens send funds to someone in country Y, wouldn't the gov of X…
I'm sick of hearing about what crypto "could" do. I used BTC to pay for a few lunches back when transaction fees were in the cents rather than hundreds (?) of dollars or worse, and it was pretty neat, but it's clear today that the crypto ecosystem has largely become a paradise for grifters, scammers, fraudsters, and straight-up criminals, and (more generally) just another way for the rich and sophisticated to get ric…
"Let’s say you want to make a $100 payment to a merchant. Using your credit card would cost the merchant $3, which is then passed along to you via hidden costs. " You also get 1-3 credit card points, which for you is extra money that you wouldn't get if you were to pay for this with Bitcoin or, for that matter, cash. Also if the merchant screws you and sends you the wrong or a broken item, you can dispute the charge…