Earlier quoted context omitted.
If it's just for one request, the capability ("macaroon" is just their word for a capability) could be tied to a source IP address, so that only one client can use the service. That's the least of the problems. The concept is that each user has a pre-purchased local store of some cryptocurrency. For some reason, they don't actually say that. Servers send an "invoice", with just enough info to get paid but not enough…
It doesn't need to happen within an http transaction nor does it have to be atomic. There is a way to present proof of payment to a recipient by showing them a preimage of a hash that's received by a lightning node on payment completion
L402: The Missing Piece in the Internet's Payment Infrastructure
141–146 of 146 posts
Re: L402: The Missing Piece in the Internet's Payment Infrastructure
#142Re: L402: The Missing Piece in the Internet's Payment Infrastructure
#143Earlier quoted context omitted.
At the end of the day you're just having a value disagreement with those of us who are Bitcoin proponents. You don't think the energy is worth what Bitcoin brings the world, while we do. Bitcoiners seem to jump through hoops to prove that they are leading the way in clean energy generation and consumption, yet to you *any* energy spent on Bitcoin will always be a waste. This makes the only acceptable energy for Bitco…
> At the end of the day you're just having a value disagreement with those of us who are Bitcoin proponents. You don't think the energy is worth what Bitcoin brings the world, while we do. There are two different points: * Bitcoin is useful in some way * Bitcoin 'soaks up' energy that would otherwise be "wasted" In this thread I am saying there is no such thing as "wasted energy" (regardless of the pros and cons of B…
Re: L402: The Missing Piece in the Internet's Payment Infrastructure
#144Earlier quoted context omitted.
> At the end of the day you're just having a value disagreement with those of us who are Bitcoin proponents. You don't think the energy is worth what Bitcoin brings the world, while we do. There are two different points: * Bitcoin is useful in some way * Bitcoin 'soaks up' energy that would otherwise be "wasted" In this thread I am saying there is no such thing as "wasted energy" (regardless of the pros and cons of B…
When solar or wind is curtailed, I would call that wasted energy?
And even if mining used only energy/electricity that would otherwise be "wasted", so what? If cryptocurrency mining was never invented in the first place, the energy production would be curtailed because it wouldn't be needed to begin with, and there would be no net loss.
So the production of some (unneeded) energy is curtailed, so what? Not needing energy in the first place is hardly a hardship on society (and the environment).
Re: L402: The Missing Piece in the Internet's Payment Infrastructure
#145Earlier quoted context omitted.
> "Micropayments are desperately needed" - this is true. Probably not. They've been proposed all the way back to Chaum's DigiCash, but no micropayment system has ever really taken off. Not just crypto schemes. Schemes to put micropayments on your cellular phone bill were a flop. Even 976 numbers never got traction outside of dial-a-porn and have mostly died out. All the enthusiasm for micropayments comes from people…
At that time, "micropayments" meant payments on the order of less than a cent. Chaum's system didn't try to do that. I don't know exactly what "micropayments" means to people now. I get the impression it's more on the order of a dollar. But DigiCash really wasn't even meant to do large volumes of payments that small. I don't think a system like that has ever really been tried. It's true that any kind of pay-per-use w…
I've heard this argument before, but there's a common existence proof to the fact that it's possible: video games. People who play many different kinds of video games (RTS, MOBA, MMO, RPG) get used to making decisions as to whether to buy things many times an hour with barely any cognitive load - their brains just get used to working with smaller units of time and money.
And why shouldn't they? I found sources online that say that a YouTube video earns about $5 per 1k views, or 0.5c per view. If I have to pay half a cent to watch a video, even a short five-minute one, that's almost below the threshold of caring, and even those making median income are probably going to be constrained by the actual time that they have available to watch, rather than the cost of the videos. People will spontaneously spend $20 to go out to eat - after the initial adjustment to a micropayment system, they should have very little trouble spending 60 cents to watch YouTube for five whole hours after work, especially if the micropayment system has common-sense features such as clearly showing your wallet balance over time, how much you've recently spent, and how much longer your balance will last at your current rate of consumption.
Now, to be fair, the fact that it's possible, and that people will quickly get used to it after they spend some time with it, doesn't mean that people will be interested in trying it in the first place, and that's a much harder problem, because subscription services are more lucrative for companies. I think the only way to get micropayments off the ground would be a grassroots movement supported by a bunch of content creators making their stuff available on a micropayment platform. Otherwise, companies that move away from ads (e.g. Google) will just turn to subscription services to lock their users in.
Re: L402: The Missing Piece in the Internet's Payment Infrastructure
#146Earlier quoted context omitted.
Yes, TEMPORARILY, lol. Awkward for who?
Can you provide evidence of this? Thanks!