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happy to answer any questions!
Any interest in adding other, fee-less currencies like nano?
Nano unfortunately probably won’t be worth supporting because of the small user base
However we’re quite open to supporting any wallet that wants to work with us
happy to answer any questions!
Why bitcoin and not ethereum?
Also we are Bitcoiners.
However we do support exchange wallets like Luno.com, VALR.com and Binance.com and are adding many more and whatever crypto they support.
As Bitcoiners we try to basically just mention Bitcoin.
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BCH absolutely cannot replicate Visa's transaction rate on L1, at least not without block sizes becoming completely ridiculous
I think it would require something like 200MB blocks, which is within the realm of possibility. The only thing stopping you from adding payment channels on top of that is transaction malleability, but I am not really caught up on the topic.
That's arguably past the point where running a small node is viable, so I would argue you're well into the territory of losing some of the decentralisation properties you want in a cryptocurrency
Bitcoin is wildly unsuitable for small scale payments, at least in it's current architecture
Here is a 4 year old example on how it is possible https://www.youtube.com/watch?v=7bOo3zLFhEk
They are using the lightning network or some other "2nd layer" network that makes the transactions follow a different protocol that can include near instant settlement vs the 10 minutes per block and the payment only settles six blocks after it was written into the blockchain history. The protocol on the 2nd layer is different, but the units or tokens being transferred are indistinguishable from the tokens on the main blockchain, meaning the protocol for transferring to/from layer 1 to layer 2 do no allow for a coin to be minted out of thin air on the layer 2 protocol and then transferred to layer 1. It only allows for tokens minted on the main chain that were "transferred" to the 2nd layer to change hands between users (meaning addresses) on the 2nd layer.
There is a way to transfer a balance on the second layer back to the main chain, so as a merchant or user you can "withdraw" from the layer 2 to the main network whenever. There is a fee to transfer from the 1st layer to the second layer, and a fee to transfer back to the 1st layer, this is the regular fee that is imposed to do any transaction on the main chain since from the point of view of the bitcoin blockchain, "withdrawing" to a 2nd layer chain is just a special case of a regular transaction between two addresses on the main blockchain.
The very obvious downside that everyone knows and talks about is that the 2nd layer network is not at all decentralized, and as a user that "moves" tokens from the main layer to the second layer you are taking on the risk of the 2nd layer operator stealing all of your money.
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Not true https://x.com/gavingre/status/1949395378610069905?s=46
This doesn't show the merchant confirming payment. Presumably you'd wait for that before leaving the restaurant. Sending payment is just the first step.
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Why not just use Bitcoin Cash? Bitcoin was designed to compete directly with Visa's transaction rate and still can. I don't get why people don't simple use what works?
BCH absolutely cannot replicate Visa's transaction rate on L1, at least not without block sizes becoming completely ridiculous
68% of South Africans have bought or own BTC? There is simply no way. Impossible.
Relevant documentary (german, auto-translation probably an option) about bitcoin adoption in south africas townships, including pick'n'pay adoption: https://www.youtube.com/watch?v=6O0QpNbDLoQ (pick'n'pay part starting minute 18:01)
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It uses bitcoin lightning, are you referring to that?
You mean the not-bitcoin bolt-on that pretty much mandates using a 3rd party wallet to ensure always online status and has been bleeding capacity for the last few years? It would be a travesty if society decides bitcoin is the defacto payment crypto, in part because you need to use a totally separate service in order to reasonably send bitcoin.
Agree completely. Was a fan of Bitcoin Cash when it split off in 2017! Better to have things on-chain.