When it comes down to it, it is very hard, if not impossible, to compete with (practically) free. Annually about $3 trillion is paid by merchants to the financial industry in transaction fees. So if Lightning can be made to work for merchants, they would be fools to not take a serious look into accepting that as a payment method.
For additional comments on this article, see also another post found here on SN, where the article was shared again:
Banks Are About To Face The Same Tsunami That Hit Telecom Twenty Years Ago
#120136
https://www.forbes.com/sites/caitlinlong/2022/09/23/banks-are-about-to-face-the-same-tsunami-that-hit-telecom-twenty-years-ago [Archive]
deleted by author
When it comes down to it, it is very hard, if not impossible, to compete with (practically) free. Annually about $3 trillion is paid by merchants to the financial industry in transaction fees. So if Lightning can be made to work for merchants, they would be fools to not take a serious look into accepting that as a payment method.
Very astute article. It wasn't until I finished it that I saw that Caitlin Long was the author. Makes sense. She's always worth listening to
Caitlin long needs to stop mentioning meth in the same sentence
Yes, I think comparing Bitcoin with Voip is the best analogy so far.
https://archive.ph/1eOC8
This is a big brain article.
Good stuff