293 sats \ 8 replies \ @cryptocoin 8 Jan 2023 \ parent \ on: Fountain 0.6 - Activity Feed, Deposit with Bank Card and UI/UX Upgrades bitcoin
I don't get the problem. This is for onboarding only, add sats to Fountain.
Those sats then are disbursed within the app, kept in Fountain's custody, or withdrawn. There's no bitcoin->fiat conversion.
This solves a pain point for a nocoiner -- how to acquire bitcoin that is needed for a single use case?
What's the difference between this approach versus hoping the nocoiner figures out how to send bitcoin to Fountain using something like Strike?
A nocoiner should not start acquiring some sats just because want to use fountain.
Fountain should be the result or destination of his sats after he learned how to get some and how to use them properly.
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what’s wrong with acquiring sats to pay a podcaster?
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Nothing wrong with that. But coming from Fountain is wrong.
Soon fountain users will be forced into full KYC too (because of that option to "buy sats").
You see? People get it wrong my comment about this news. I am not against the fountain model of paying content creators. I am paying those creators too, through fountain or any other methods.
I am against users "buying" sats through fountain.
Users must do the correct process of acquiring, storing, managing their sats and split their stash in many parts: for hodl, for spending on veers, for spending on podcasts and do the proper coin control.
Doing it directly through fountain app and using a bank card you are exposing yourself.
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Now I understand the issue more clearly.
Because it is optional ..., and I can maintain my financial privacy by not using the bank card payment method, Fountain offering this will not have much of an impact on me, personally.
And since it isn't Fountain itself that is accepting the payment, they aren't the exchange and thus it shouldn't ever involve KYC. But yes, there is a link between Moonpay and Fountain now so who knows -- regulators regulate. But if Fountain needing to do KYC becomes a requirement, I suspect Fountain would kick that payment card payment method to the curb.
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Worst take on stacker news I've read so far.
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Show me on the doll where fiat touched you.
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deleted by author
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pay attention to what I said.
Usually people tend to not pay attention to my messages, but in the end I am always right.
Is just fine.
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