1747 sats \ 3 replies \ @nerd2ninja 26 Oct 2022 \ on: Why not just build Stacker News on traditional financial rails? bitcoin
That your backend doesn't have to hold our credit/debit card data. Yes, you currently have $2 of value of mine on your server which if hacked would be irreversibly stolen, but to me, that's better than leaking my card info, address, and all the other details you have to collect to process a traditional payment.
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100 sats \ 2 replies \ @SatRat 27 Oct 2022
And the fact that you can, at any moment, withdraw the total amount of the hosted sats instantly as final settlement alleviates a lot of the risk of tradfi custodial services. And FOR SURE the fact that I can interact without submitting personal data is the beauty of being built on the LN.
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362 sats \ 1 reply \ @ev 27 Oct 2022
You're trusting SN to honor the withdrawal request, right? Technically, you don't have control of the sat balance associated with your SN account right now.
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244 sats \ 0 replies \ @SatRat 27 Oct 2022
True, but it is a better dynamic for building trust. It is a direct relationship between SN and the user. No intermediaries have to be trusted to complete the transaction.
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