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0 sats \ 6 replies \ @BlokchainB 27 Mar 2023 \ on: Lotes - physical lightning cash bitcoin
How is this different than a bolt card?
You top-up bolt card and then spend from it on LN terminals.
This is meant to be cash-like. So you top it up and then pass this card to someone else. So this receiver doesn't need anything only trust in you.. And once he doesn't want to trust you he can use this Lotes app to validate the bank note. (check if it is really topped)
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So unlike the opendime, this can be refilled after redeeming.
But if I am going to be passing it as cash, I don't want to lose my investment in the lote (hardware).
Do you believe these will have tradeable value equal to the btc held within plus the value of the lote?
And then, do these degrade with significant usage? (I.e., where risk of failure increases with additional use?)
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Bank note has some value as well and you can still pass it..
It will not be a problem to pass it once it gets network effect.. So you lost some and elsewhere get another one...
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Then you would spend at ln terminals?
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Point is that you don't need terminal for these lotes...
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Gotcha.
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