The Problem with Credit Cards and how the Lightning Network is the Answer \ stacker news ~bitcoin

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The Problem with Credit Cards and how the Lightning Network is the Answer medium.com/@MinatoPay/the-problem-with-credit-cards-and-how-the-bitcoin-lightning-network-is-the-answer-cd6fd61e0e5e

1390 sats \ 7 comments \ @kr 26 Sep 2022 bitcoin

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133 sats \ 1 reply \ @MinatoPay 26 Sep 2022

Whoa, Kevin thanks for posting! I'm a really big fan of your podcast :). Thank you for the work you do for the community.

Curious to hear your thoughts on the article. It's something that I've personally experienced being on both sides (working in the payment processing industry, and being a entrepreneur that was frustrated by the existing system).

0 sats \ 0 replies \ @kr OP 26 Sep 2022

Thanks for the kind words!

I think there is definitely room for Lightning companies to offer better fees and settlement options to merchants, but lots of work that still needs to be done on payment reliability and the ability to convert payments into whatever currency the merchant wants to hold.

Excited to follow along with your progress!

35 sats \ 1 reply \ @cryptocoin 26 Sep 2022

Is this Minato new? There was a MinatoPay on Twitter, now suspended. But I don't think that account was related to merchant payment processing.

The domain is just a few months old, and this is the first post on that Medium blog.

The website lists no location, and the not even the Terms & Conditions lists a jurisdiction.

10 sats \ 0 replies \ @MinatoPay 26 Sep 2022

Yep we're new, check out our post on stacker news regarding launching: #72154

We are currently working on that jurisdiction piece. It's not too obvious for us because we're looking for a jurisdiction where we don't have to KYC our customers.

Our Twitter is actually https://twitter.com/Minato_Pay, when signing up, we tried to register @MinatoPay but found it was suspended. We should list our Twitter on our website, will make that update sometime soon!

0 sats \ 1 reply \ @cryptocoin 26 Sep 2022

Is LN the only withdrawal method, or is on-chain available as well?

25 sats \ 0 replies \ @MinatoPay 26 Sep 2022

You mean at MinatoPay.com?

Currently we only support LN withdrawal, although on-chain withdrawal is something we will add in the future.

0 sats \ 0 replies \ @quest77 26 Sep 2022 outlawed

stackers have outlawed this. turn on wild west mode in your /settings to see outlawed content.