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Fascinating explanation (though I’m already bullish BTC). No counters but a question: What’s stopping BTC lightning from being the rails you pay a buddy for a b
by eric-hu 5y ago
Fascinating explanation (though I’m already bullish BTC). No counters but a question: What’s stopping BTC lightning from being the rails you pay a buddy for a beer on?
- dogman144 5y ago- Assuming it's A vs. B platform choices, then network effects: you'll actually have to get users to jump from Venmo, to LighteningMo. Hard stuff if there aren't compelling reasons - Assuming LN is the infra that the Venmo of 2050 uses: I think you'd need a compelling reason for "Venmo" to drop (edit: or integrate LN into) their underlying infra, which is where I understand Plaid and inside baseball platforms b/t TX processors have very strong holds, and jump over to a blockchain stack. - The volatility. It has to smooth out. I'm not going to be the next bitcoin pizza guy.
- eric-hu 5y agoI think the second case is most likely. I don’t see crypto displacing any fiat or even financial rail system completely, but just taking a sizable share. I’ve seen very reasonable use cases in Southeast Asia in remittance. Western Union takes a ridiculous cut, and I wouldn’t be surprised if similar use cases are in Africa and South America as well.
- dogman144 5y agoYa would agree as well, some cross-protocol, side-chain/SWIFT/Plaid/blockchain hybrid except for greenfield areas where it might take off natively.