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I'm not a fan of cryptocurrency in general. But why on earth would you chose Bitcoin? Don't you have to wait ~45mins per transaction and pay something like a $2
by yadaeno 5y ago
I'm not a fan of cryptocurrency in general. But why on earth would you chose Bitcoin? Don't you have to wait ~45mins per transaction and pay something like a $20 transaction fee on top of huge volitility? What an absolute disaster.
- 0x000000001 5y agoThey're using the lightning network on top of Bitcoin for instant transactions and less than 1 cent fees. If Bitcoin equals cash, Lightning is Venmo The lightning basically network syncs to Bitcoin in large atomic updates to limit fees. Hope that helps
- davidgerard 5y agoChivo doesn't use Lightning internally - it's just a PayPal-like custodial payment system in itself. (It does talk Lightning, though reportedly unreliably.)
- 0x000000001 5y agoYou could argue the same for Strike -- sending $USD or BTC between users on Strike doesn't use lightning, but if you want to send to a user not on Strike it uses Lightning. Or Cash App by Square or Venmo by Paypal -- when you send Bitcoin to another user it's just moved internally in their accounting, not on the blockchain.