Testing the claim: users can pay any CashApp username from Strike and vice versa \ stacker news ~lightning

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Testing the claim: users can pay any CashApp username from Strike and vice versa

2404 sats \ 6 comments \ @06bc1a977d 28 Nov lightning

Supposedly we use:username@cash.app username@strike.me

I have an account with both but have never used CashApp for bitcoin. When entering my CashApp handle in Strike (@cash.app) it says “invalid lightning address”. Entering Strike handle in CashApp (@strike.me) results in “invite user” and sends the payment as pending (never notified in Strike).

BUT By doing a small purchase of Bitcoin on CashApp only then could I access Lightning/BTC QR receive address. I first tried entering the CashApp LN address in Strike Send>Bitcoin Wallet (for 10,000 sats) and it showed a 6 sat fee… BUT NOW I can enter my cashtag in the Send>Username section and it comes up like a valid LN address with NO fee - I sent it and immediately received in CashApp as bitcoin. I tried in Strike also sending a cash balance to the same cashtag name and it worked as well, no fee, and arrived in BTC on my Cash App. Kudos to Strike!!

The return side from CashApp works now too, but ONLY from Bitcoin>Send (enter Strike username in the LN address line), the BTC arrived in Strike immediately. What still doesn’t work is sending cash from Cash App to my Strike username (both from Cash balance or from linked debit card). One comment from a Strike CS rep said CashApp can only send cash to merchants or other cashtags. So from CashApp to Strike users it’s limited to BTC send.

Note: buying BTC on CashApp for either a market buy or limit buy is $0.49 on a $10 order = 5%!!!! Don’t waste money like that. Strike is $0.09, and DCA is free. 🫡

CashApp vs. Strike comparison: Both offer

free DCA
free LN send
multiple options for onchain BTC (unlike most exchanges) but on CashApp the 2 options are much more expensive ($3.11 & $2.09 vs. Strike $0.67 & 0.42 on a 10,000 sat test)
free BTC send option is only possible on CashApp for 100,000 sat min. and Strike has 75,000 min.

Conclusion: DCA is the way, and @strike.me remains the most appealing UI and most logical UX by far.

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85 sats \ 0 replies \ @Sandman 28 Nov

Thanks for this content big man!

63 sats \ 0 replies \ @Scoresby 28 Nov

I was curious about this. Thanks for working it out!

0 sats \ 0 replies \ @cointastical 30 Nov

What CashApp has exclusively is the ability for me to deposit cash, with immediate availability -- There are dozens of places I can do this, within 10 miles of my work or home. Also, for direct deposit, Cash App, makes the funds available immediately, which is ~24 hours earlier than Strike does, in my instance with my employer.

Also, now that I can pay an LN invoice from my USD balance, I no longer need to buy BTC explicitly. Before I was only buying BTC in $200 or greater increments, so as to minimize (Cash App's excessive) fees. Now I'm done buying BTC and just spending USD to pay LN invoices. Same same, but different.

What Strike has exclusively is the ability for me to do an international remittance (Family, vendor, etc.) to recipients in over a dozen countries (via Strike's Send Money).

0 sats \ 2 replies \ @BlokchainB 29 Nov

And they say lightning is dead and doesn’t work

152 sats \ 1 reply \ @kepford 29 Nov

I've heard the x is dead thing so many times it doesn't work on me anymore. Blowhards. Losers. People to ignore.

Its not just a bitcoin cultural thing. Not sure why people feel this need to say such things.

0 sats \ 0 replies \ @Tehila 29 Nov

I think because self custody (ie channel management) isn't really scalable. There are of course now some services that play intermediary of sorts while you still own the keys, but realistically most people will forego custody. So, the argument goes, everyone should use Solana or BCH or whatever because it's faster than L1 Bitcoin while still being self-custodial.