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New ultra-low-cost transfer networks like Bitcoin’s lightning seem necessary and sufficient to enable something like this. I would be happy to set a budget of e
by wyager 7y ago
New ultra-low-cost transfer networks like Bitcoin’s lightning seem necessary and sufficient to enable something like this. I would be happy to set a budget of e.g. a few cents a YouTube-minute that got paid out automatically by my browser.
- sneak 7y agoThe problem isn't the tech; one could build a centralized micropayment system long before lightning was viable. The issue is that receiving and sending bitcoin payments makes you regulated like a wire transfer service, and the resulting license costs to operate such a business are approximately 1MM USD per US state in which you wish to operate (before you can send a single payment). It's madness. All of the cool micropayment businesses I want to start are illegal now.
- k_vi 7y agoI don't understand. If I accept bitcoin payments, does this make me a wire transfer service? If it makes the payment service provider a wire transfer service then Bitcoin and BTCPayServer already solves this.
- true_religion 7y agoI think it’s accepting bitcoins on behalf of another party that makes you a wire transfer service.
- icebraining 7y agoBut do you need to receive and send them at all? Couldn't you just act as a coordinator, sending the site's BTC address to the client so that they can pay them directly?