What are ACH dollars?
Discussion
Confusing grammar.
-Unlimited ACH deposts
-fiat (“dollar”) to LN payments
-doesn’t say much on bank transaction
Suggestion is if you fill invoices from cuckbuck balance, you can effectively stack non-kyc this way
Thanks for explaining it. But I still don't get it how this works. I'm paying my own LN invoice from my own cash balance? And why do they have an extra buy button if you can stack this way.
Yes you pay LN invoice from cash balance. The service strike offers there is whatever they have do behind the scenes to “be compliant” and make the payment happen without putting any kind of tax burden on the customer, etc.
Why have a buy button, well that’s a good question. One could argue it has a similar answer. More likely though is that people just like buy buttons and the invoice trick is a little bonus for those who understand and are willing to do a couple more clicks
And to be clear it’s real lightning, not strike users. You could use your dollars/euros to pay someone using ln.tips or their own node (assuming there’s a route) or anything. It’s a direct portal from fiat to the actual lightning network, at least from the user’s perspective
I'm skeptical. But it sounds not that bad if this works the way you're describing it. I need to find someone to try it out for me😂
My favorite use for this is actually probably paying for shit. Like i bought apollo gum (now nostr:npub19lhkt6w7q4nqcxllztrs8kg3x4asvh4fcahr246yp9rfpashj87qz5qdzy) in bitcoin for a nice discount. But i used my dollars 😎
I must be tarded but how does the nokyc part work?
How would they know who’s on the other end of the invoice? All they know for sure is your dollars are being used to pay for [something] that strike handles any tax implications for
Might wanna go through mutiny or something rather than dox your node by going directly to it
This should be considered a theory though imo. For all we know they might assume every withdrawal or payment is to yourself 🤷♂️
Sounds similar to purchasing bitcoin on lightning with Bull Bitcoin. You add cash to your account through direct deposit (that part is kyc). But then you pay an invoice in lightning.
This makes sense. Thanks 🤙🏾