3 ms·

microtransactions via the Lightning network is wonderful part of the bitcoin vision. But I don't think this sentence at the bottom of the "Strike" app page is

microtransactions via the Lightning network is wonderful part of the bitcoin vision. But I don't think this sentence at the bottom of the "Strike" app page is holding up to the promise: "Custody of your funds and bitcoin trading are offered through Prime Trust, LLC." [1] [1] https://apps.apple.com/us/app/strike-send-and-spend-bitcoin/id1488724463 https://apps.apple.com/us/app/strike-send-and-spend-bitcoin/...

m348e912 5y ago
Thanks for bringing this up. While the idea of blockchain payments hitting a mainstream app is kind of exciting, adding Strike support to twitter isn't much different than adding something like Venmo support. Both require a banking style intermediary that require KYC from their users.
- bmking 5y ago
  I don't agree. This way it is a) easier to onboard _receivers_, and b) stays open in the sense that _senders_ can send bitcoins by any app they want (including non-custodial of course).
  - em3rgent0rdr 5y ago
    Ok, I understand (a). Regarding (b) I guess I don't fully understand their implementation, but are you suggesting that any 3rd party app could implement the payments? I guess if any app or user can pull the twitter user's lightning address one can tip then yeah I guess so. So I guess they are just using "Strike" as an officially-supported app?
  - m348e912 5y ago
    >>This way it is a) easier to onboard _receivers_, and b) stays open in the sense that _senders_ can send bitcoins by any app they want (including non-custodial of course). If I were to restate what I think you're saying: Twitter is implementing a tipping system that allows you pay using Strike _as_well_as additional non-custodial [and potentially non-kyc] lightning payment apps once a lightning channel is open. I think that you're either dead wrong, or the non-Strike lightning payment option will be so convoluted that almost no one actually will actually use it. I will be happy to be proven wrong though.

m348e912 5y ago

Thanks for bringing this up. While the idea of blockchain payments hitting a mainstream app is kind of exciting, adding Strike support to twitter isn't much different than adding something like Venmo support. Both require a banking style intermediary that require KYC from their users.

bmking 5y ago
I don't agree. This way it is a) easier to onboard _receivers_, and b) stays open in the sense that _senders_ can send bitcoins by any app they want (including non-custodial of course).
- em3rgent0rdr 5y ago
  Ok, I understand (a). Regarding (b) I guess I don't fully understand their implementation, but are you suggesting that any 3rd party app could implement the payments? I guess if any app or user can pull the twitter user's lightning address one can tip then yeah I guess so. So I guess they are just using "Strike" as an officially-supported app?
- m348e912 5y ago
  >>This way it is a) easier to onboard _receivers_, and b) stays open in the sense that _senders_ can send bitcoins by any app they want (including non-custodial of course). If I were to restate what I think you're saying: Twitter is implementing a tipping system that allows you pay using Strike _as_well_as additional non-custodial [and potentially non-kyc] lightning payment apps once a lightning channel is open. I think that you're either dead wrong, or the non-Strike lightning payment option will be so convoluted that almost no one actually will actually use it. I will be happy to be proven wrong though.