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Spending tiny amounts using Bitcoin's Lightning Network for digital (SaaS) services is something I'm exploring. It's an interesting application when you need an
by hugs 3y ago
Spending tiny amounts using Bitcoin's Lightning Network for digital (SaaS) services is something I'm exploring. It's an interesting application when you need an international payment system for settling cross-border payments. (I'm not a fintech expert, but like I said, I'm exploring the possibilities...) When something costs only a few cents (sats in Bitcoin-speak), the variability of the full price of one Bitcoin is minimal. And when something is a few cents, the transaction fees using any other method makes the whole idea hard to imagine.
tl;dr: international payments for digital goods using the Lightning Network is (arguably) a valid use for Bitcoin that is not speculation.
- robryan 3y agoFor accepting crypto payments wouldn't I be better off accepting a stable coin? Most companies I saw in the past were nominally accepting crypto but going through a service that would just pay out the USD equivalent. I guess with software margins there is a bit more room to move with price fluctuations. For ecommerce though accepting and holding a currency that moves this much could quickly erode the smaller margins.
- hugs 3y agoThe idea I'm looking into is for a high margin thing that can absorb price fluctuations. Re: stablecoins, I did notice that one of the YC Request for Startups was for stablecoin-focused startups, but I don't have a strong opinion about stablecoins, yet. https://www.ycombinator.com/rfs#stablecoin-finance https://www.ycombinator.com/rfs#stablecoin-finance