Saw a related article in Axios. There was a link at the bottom "lightning network has it's share of issues". Found the owner of the repo it is a Bitcoin Cash / Roger Ver shill... pinged the author Crystal from Axios, that while lightning isn't perfect, this is a disengenious narrative driven list. Hopefully they remove. If curious can follow-up. She responeded to my email outlining this!
I think they want to be able to do cheap forex through Bitcoin.
That is, if you want to transfer/convert currency A to currency B they would buy Bitcoin with currency A, then transfer Bitcoin to a wallet in country B, then buy currency B with that Bitcoin.
Basically using the Bitcoin network as a cheap money transfer mechanism.
Lightning works by creating batches of Bitcoin transactions and then rapidly verifying them—a much cheaper and faster alternative to the base Bitcoin network where transactions can take up to an hour to clear and incur a significant fee.
Well, I wouldn't have explained it like this and I am not sure if that explanation is even correct in the slightest way, but I guess people get the idea with this.
Always funny to read explanations about things you know some stuff about from people who apparently know nothing about it or are trying to dumb it down.
Gell-Mann amnesia effect described by Michael Crichton:
Briefly stated, the Gell-Mann Amnesia effect is as follows. You open the newspaper to an article on some subject you know well. In Murray's case, physics. In mine, show business. You read the article and see the journalist has absolutely no understanding of either the facts or the issues. Often, the article is so wrong it actually presents the story backward—reversing cause and effect. I call these the "wet streets cause rain" stories. Paper's full of them.
In any case, you read with exasperation or amusement the multiple errors in a story, and then turn the page to national or international affairs, and read as if the rest of the newspaper was somehow more accurate about Palestine than the baloney you just read. You turn the page, and forget what you know.
While the idea of challenging credit card giants with Bitcoin may sound pie-in-the-sky, Strike already has shown real-world traction by persuading e-commerce giant Shopify as well as the global point-of-sale service NCR to employ its technology.
Let's fucking gooooooo!
Saw a related article in Axios. There was a link at the bottom "lightning network has it's share of issues". Found the owner of the repo it is a Bitcoin Cash / Roger Ver shill... pinged the author Crystal from Axios, that while lightning isn't perfect, this is a disengenious narrative driven list. Hopefully they remove. If curious can follow-up. She responeded to my email outlining this!
Repo/list of anti-lightning: https://github.com/davidshares/Lightning-Network
Repo owner: https://twitter.com/davidshares
Article: https://www.axios.com/2022/09/27/payments-shop-strike-raises-80-million-in-bitcoin-maximalist-flex
Strike is getting into unicorn territory with this raise (they may already be there).
Bullish for Lightning.
Indeed. Great to see a bitcoin only VC (Ten31) lead the round.
Absolutely. I hope Strike kills visa and Ten31 make a fuck load of fiat and buy BTC with it.
what is strike actually doing?
I think they want to be able to do cheap forex through Bitcoin.
That is, if you want to transfer/convert currency A to currency B they would buy Bitcoin with currency A, then transfer Bitcoin to a wallet in country B, then buy currency B with that Bitcoin.
Basically using the Bitcoin network as a cheap money transfer mechanism.
Why wouldn’t you just use a stable coin? Strike is already centralized and requires KYC.
I haven't used it so I'm not sure, but I think it's just simplicity.
I think you can spend Bitcoin and receive USD directly to a bank account from one place. There's no need to go through an exchange.
This is Strike https://i.postimg.cc/rF4hc8mq/strike-abomination.jpg
Well, I wouldn't have explained it like this and I am not sure if that explanation is even correct in the slightest way, but I guess people get the idea with this.
Always funny to read explanations about things you know some stuff about from people who apparently know nothing about it or are trying to dumb it down.
Yeah, I wouldnt explain it like that at all.
Gell-Mann amnesia effect described by Michael Crichton:
https://www.goodreads.com/quotes/65213-briefly-stated-the-gell-mann-amnesia-effect-is-as-follows-you
Haha, yes, got aware of this effect before but never realized it had a name! Well, now I know, thank you!
Good for them. Both Strike and Cash App are going to be the primary vehicles for mass adoption of Bitcoin.
Let's hope Visa and/or Mastercard don't buy Strike...
They won’t
Nice, and in a bear market to boot.
This is the best news I heard all day. Incredible. Congrats to the Strike team.
wonder if there valuation decreased or increased with this raise
Almost certainly an increase. Companies usually sell 10-20% of the company in a round, meaning the valuation could be as high as $900,000,000.
Wow!!! I hope SN can reach these valuations same day IN BTC
3 years have passed
This went absolutely no where lol
And no sign of a https://lightningaddress.com/ implementation? Why not? It would be so simple.
Strike is the best I can't wait for that visa card