4 ms·

Why would it reduce the value? Off-chain transactions are something the core Bitcoin team are very much in favor of.

• postalrat 6y ago
  That sounds like they are in favor of not using bitcoin.
  • MrMan 6y ago
    If your purchasing power is calculated in bitcoin but your purchasing in some other currency, there is no real problem there. Bitcoin network can get used one per day for settlement, and the rest of the time use visa digital coins! Which they call dollars or euros, some differently named legacy meatspace fiat. Then bitcoin is free to just swim around in libertarian platonic ideal of freedom from societies obligations and rules
  • thebean11 6y ago
    They are in favor of not using the L1 Bitcoin blockchain for small payments. L2 solutions, both decentralized ones like the lightning network and centralized ones like Visa are still "using Bitcoin" as a currency, even though they are not using the L1 blockchain.
    • deleted 6y ago
      [deleted]
    • amznthrwaway 6y ago
      This is very much how the US stock market works. Stocks aren’t actually traded in real-time, but instead are netted and eventually settled through DTCC. Similarly, BTC will just be a transmission mechanism between multiple large, centralized, highly regulated, trusted entities, which will perform all of the work.
  • tylersmith 6y ago
    Instead of using Bitcoin, the transaction network, they are using their transaction network to transact bitcoins, the asset. The chain gets used primarily for settlements in this model.