4 ms·
very uninformed take - they specifically mentioned the lighting network where transactions happen as fast as VISA/Mastercard.
by jonathan-adly 4y ago
very uninformed take - they specifically mentioned the lighting network where transactions happen as fast as VISA/Mastercard.
- metadat 4y agoWhat good is a transaction without guaranteed settlement?
- jonathan-adly 4y agoVisa/Mastercard are not guaranteed settlements…
- metadat 4y agoVisa/MC have phone numbers you can call for support and dispute resolution. What happens for BTC lightning?
- kelseyfrog 4y agoYou still call a number for support: 988.
- metadat 4y ago988 is the suicide hotline..
- kelseyfrog 4y agoAnyone who overcommits to crypto should have a crisis plan in place in the event of disaster.
- kevinak 4y agoSo… you want guaranteed settlement but at the same time the ability to reverse a transaction? How do you propose that would work?
- soco 4y agoIt might come as a surprise to some, but I had over the years many successful credit card transactions and I also had a few reversed when I called Visa/MC and told them something was not okay. So I have nothing new to propose here, just mentioning a system which already works fine for me.
- kevinak 4y agoI’m aware that you can do this with credit cards. I was replying to someone who wanted guaranteed settlement but at the same time the ability to reverse transactions (read: settled transactions). You can’t have both at the same time.
- hinkley 4y agoI mean, I'm no crypto-as-in-currency fan (but am an actual crypto fan), but Visa is maintaining an elaborate illusion. It breaks down any number of ways, which you find out the moment you try to spend 40% of your credit limit on one thing, and someone screws up the transaction so it has to go twice. Then you start getting declined at the grocery store for being over the limit when you are in fact at 61% of your limit, but the vendor has reserved 80% of your limit for that 40% transaction.