#gold vs #bitcoin ⚡⚡⚡
Discussion
Ha! You just hand the gold brick to your mate standing right beside you. It could exchange must faster than the lightning network. That’s a piss poor example of #gold vs. #bitcoin.
Basically this. Plus the fact that you already must have channels open and/or use custodial wallet which is not the point of bitcoin
But to exchange that much gold the same argument applies, the need for channels of communication and security, or use a custodial company.
If it was a large amount of Bitcoin. Itvwoukf have just been a few minute wait. Done on main chain.. Anywhere in the world..
"Hey dude, I have 2oz of gold. Would you accept it for this bike that you are selling?"
"Alright, meet me (some location)"
Few hour pass. Both guys are at the meeting location:
"Here is your new bike"
"Here is your gold"
"Bye"
"Bye"
Same could be done with two people who have self custodial wallets.
"Hey dude, I have 1m sats. Would you accept it for this bike that you are selling?"
"Alright, meet me (some location)"
Few hour pass. Both guys are at the meeting location:
"Here is your new bike"
"What is your node address so I can open a channel with it?"
"Here is the qr code of it"
"Let me open a channel. Wanna go to the café over there until the transaction is confirmed?"
*buyer opens up a channel and pays several $ in fees. he also selects a higher fee so the transaction would go faster.*
"The cannel has opened. What is your lnurl?"
"Here you go"
"Bye"
"Bye"
P. S. Don't get me wrong. Lighting is cool. But it just centralizes the network and most people want things to Just Work™ and wouldn't want to manage channels. Gold isn't perfect either but let's keep physical stuff IRL and digital stuff on the internet.
Who said anything about lightning? We were talking about bitcoin. My previous statement still stands.
It seems you were referring to lightning, and yes you wouldn't want to use lightning. I was referring strictly to bitcoin, so it seems I was misundering part of your message. My apologies.
Also, any fees you pay for transaction of that much gold would be negligible compared to the security you would have.
You should have gone with platinum.
Now that's what I call a medium of exchange!!