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And guess what, businesses are moving on. Steam just dropped Bitcoin as a method of payment. And before that OpenBazaar. And Yours.
by bufferoverflow 9y ago
And guess what, businesses are moving on. Steam just dropped Bitcoin as a method of payment. And before that OpenBazaar. And Yours.
- Frogolocalypse 9y agoUsing the blockchain for one-off payments between participants is never a viable solution. The establishment of lightning allows commits to be aligned with the long term relationship between two participants. Even after that relationship ends, a completely unrelated payment may be routed through your channel, earning you a micropayment. There was never a solution to that type of functionality with a 10 minute block creation schedule. That went live on main chain two days ago. https://www.youtube.com/watch?v=a73Gz3Tvx3k https://www.youtube.com/watch?v=a73Gz3Tvx3k
- bufferoverflow 9y agoBlockchains are successfully used for one-off payments, even Bitcoin used to be. Not anymore. And Lightning doesn't solve that problem. Thus other cryptocurrencies will thrive as methods of payment, whereas Bitcoin will remain a settlement layer for recurring payments at best.
- spookthesunset 9y agoAh lightning network, the vaporware that is always just around the corner...
- sugarandcyanide 9y agoFWIW OpenBazaar has not dropped Bitcoin as a method of payment, just chosen to diversify payment options.