201–203 of 203 posts
Earlier quoted context omitted.
Bank of America and Chase both have it. You can send money to someone using their email address or mobile phone number.
Those systems are kludges. I'm talking about direct bank to bank account transfers at the push of a button, even for 25 cents.
Earlier quoted context omitted.
I want to give my children their allowance? Or transfer money back and forth with my partner?
You can do this easily with Square Cash and Venmo already.
Speaking as a Canadian, I can already use email to transfer money to almost any other Canadian, because our cartel of banks use a common system.
Earlier quoted context omitted.
That's not how it works; if you checkout the presentation, you'll see it's possible for the lightning network to enable transactions that don't ever need to be broadcast to the blockchain. We're not there yet; this would require additional op codes to be added to get the full capabilities.
Side chain transactions aren't fulfilled until they're broadcast through the blockchain. Most people and merchants do not want to be paid in arbitrary I.O.U.s that take weeks or sometimes months, which is essentially what side chain is.
Good podcast about payment channels: https://letstalkbitcoin.com/blog/post/lets-talk-bitcoin-219
And on the lightning network: https://letstalkbitcoin.com/blog/post/lets-talk-bitcoin-242-...
Lightning Network info site: http://lightning.network