25 sats \ 1 reply \ @faithandcredit 15 Aug 2022 \ on: Galaxy Announces Termination of BitGo Acquisition bitcoin
time for BitGo to create a LN solution for their clients and regain some momentum for a potential future acquisition.
The reason i bring this is up is because copenhagenbitcoin which is great for getting danish fiat currency if you are on holiday or live there, uses BitGo, and they cannot implement LN until BitGo implements LN. Or they switch provider, which is obviously not worth it yet due to how relatively small LN still is. So that also brings up this chicken and egg problem. Why should people go out of their way to adopt LN, when its not that big, but how can LN get bigger if people dont go out of their way to adopt it. Anyway im rambling now.
More on topic the reason given for the termination is that BitGo have not provided certain financial documents, which makes BitGo seem bad, but we dont know the full story yet i dont think.
If the exchange really wants to offer cheap withdrawals to their customers it could always find another partner that will develop their LN solution if BitGo won't. Or they could do it in-house.
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