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You need to research lightening network for bitcoin if you think that sounds cheaper. I'm sorry, but that's just easily not the case. 80% of the world is not

by toolz 5y ago

You need to research lightening network for bitcoin if you think that sounds cheaper. I'm sorry, but that's just easily not the case. 80% of the world is not more accessible when the alternative is practically 100% of the world. also there's no on or off ramp for crypto when you can use it as currency, which is the direction the world is headed. edit: I'm googling and apparently payID isn't even international. This isn't really even a comparison. I don't know why you believe otherwise.

shakna 5y ago
> You need to research lightening network for bitcoin if you think that sounds cheaper. I'm sorry, but that's just easily not the case. Any in-network payID transaction is 0-fees. Whilst lightning does occasionally have negative fees, the fluctuation of Bitcoin means that the fees aren't cheaper in the end. > 80% of the world is not more accessible when the alternative is practically 100% of the world. Anywhere with a relationship with Mastercard or Visa is more accessible to most people _today_. Because they absolutely would have to generate or convert fiat to end up with Bitcoin, but have to do absolutely nothing to make use of payID. You can come back and use that argument if Bitcoin turns around and becomes the defacto currency, but otherwise it falls short. Most people today, have to do nothing to use payID. They have to do something, to use Bitcoin. > edit: I'm googling and apparently payID isn't even international. This isn't really even a comparison. I don't know why you believe otherwise. Because it's a set of banking protocols that are international. [0][1][2][3][4][5] [0] https://www.ecb.europa.eu/paym/integration/retail/instant_payments/html/index.en.html https://www.ecb.europa.eu/paym/integration/retail/instant_pa... [1] https://www.europeanpaymentscouncil.eu/what-we-do/sepa-instant-credit-transfer https://www.europeanpaymentscouncil.eu/what-we-do/sepa-insta... [2] https://corpgov.law.harvard.edu/2020/08/31/fednow-the-federal-reserves-planned-instant-payments-service/ https://corpgov.law.harvard.edu/2020/08/31/fednow-the-federa... [3] https://www.abc.net.au/news/2018-02-13/new-payments-platform-are-instant-bank-transfers-safe-to-use/9442920 https://www.abc.net.au/news/2018-02-13/new-payments-platform... [4] https://rg.ru/2019/01/28/v-rossii-zapustili-sistemu-bystryh-platezhej.html https://rg.ru/2019/01/28/v-rossii-zapustili-sistemu-bystryh-... [5] http://www.npci.org.in/what-we-do/upi/product-overview http://www.npci.org.in/what-we-do/upi/product-overview

by toolz 5y ago

shakna 5y ago

> You need to research lightening network for bitcoin if you think that sounds cheaper. I'm sorry, but that's just easily not the case. Any in-network payID transaction is 0-fees. Whilst lightning does occasionally have negative fees, the fluctuation of Bitcoin means that the fees aren't cheaper in the end. > 80% of the world is not more accessible when the alternative is practically 100% of the world. Anywhere with a relationship with Mastercard or Visa is more accessible to most people _today_. Because they absolutely would have to generate or convert fiat to end up with Bitcoin, but have to do absolutely nothing to make use of payID. You can come back and use that argument if Bitcoin turns around and becomes the defacto currency, but otherwise it falls short. Most people today, have to do nothing to use payID. They have to do something, to use Bitcoin. > edit: I'm googling and apparently payID isn't even international. This isn't really even a comparison. I don't know why you believe otherwise. Because it's a set of banking protocols that are international. [0][1][2][3][4][5] [0] https://www.ecb.europa.eu/paym/integration/retail/instant_payments/html/index.en.html https://www.ecb.europa.eu/paym/integration/retail/instant_pa... [1] https://www.europeanpaymentscouncil.eu/what-we-do/sepa-instant-credit-transfer https://www.europeanpaymentscouncil.eu/what-we-do/sepa-insta... [2] https://corpgov.law.harvard.edu/2020/08/31/fednow-the-federal-reserves-planned-instant-payments-service/ https://corpgov.law.harvard.edu/2020/08/31/fednow-the-federa... [3] https://www.abc.net.au/news/2018-02-13/new-payments-platform-are-instant-bank-transfers-safe-to-use/9442920 https://www.abc.net.au/news/2018-02-13/new-payments-platform... [4] https://rg.ru/2019/01/28/v-rossii-zapustili-sistemu-bystryh-platezhej.html https://rg.ru/2019/01/28/v-rossii-zapustili-sistemu-bystryh-... [5] http://www.npci.org.in/what-we-do/upi/product-overview http://www.npci.org.in/what-we-do/upi/product-overview