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It's too bad it's built upon the Lightning Network and not using GNU Taler for payment processing.
by nanomonkey 2y ago
It's too bad it's built upon the Lightning Network and not using GNU Taler for payment processing.
- ianburrell 2y agoDoes Taler uses local currency instead of its own coin? That is a better solution since I don't think creators or consumers want to use Bitcoin. I think using Bitcoin adds extra friction to process. It sounds like L402 requires buying Bitcoin in wallet. Creators want to get paid in local currency so they can pay their rent. They probably don't want to speculate in Bitcoin. They want their income to be stable and not vary based on Bitcoin prices. They can automatically convert Bitcoin but that adds an extra step. Consumers also want to pay in local currency. They don't want the prices to vary with Bitcoin, or their wallet to lose value.
- fewsats 2y ago> I don't think creators or consumers want to use Bitcoin. That's right. > Consumers also want to pay in local currency. Taproot Assets will bridge this. In Fewsats for example the user prices the services and gets the payouts in $ by default.
- nanomonkey 2y agoI believe the Merchant (Payee) and User (Payer) can choose whatever currency they want to put in their wallet, and it's up to the Exchange to do the conversion. The nice thing is that the payer is anonymous while the merchants account is visible, so it is likely to be accepted by nation states that still want to track taxable transactions.
- solarkraft 2y ago> Creators want to get paid in local currency > Consumers also want to pay in local currency ... which are often times different, so there has to be some kind of conversion step (not saying that it should be bitcoin).