Payments :
Cash - only vendor knows
Credit card - vendor + provider knows
Smart phone - vendor + provider + Google knows
Lightning : vendor + LSP + Google knows
#bitcoin - everyone knows !
Did I get that right ?
#askNostr
Discussion
?
#askNostr + : !
Did phone provider Google
knows
Credit vendor + everyone provider + vendor - I - LSP knows
Smart only card knows
#bitcoin right + vendor knows
Lightning Google + knows :
Cash - get vendor - Payments that
It’s not perfect, but it’s all we’ve got right now.
Why would Google know about your lightning payments? Are you telling them?
From Google I mean the data market .. if someone has to run a REAL business on lightning, they will need to sell data .. cuz there is hardly any fee rev
I mean Visa serves through their own devices .. there is very less value for them in selling data .. cuz they huge money from vendors ..
Lightning anyway needs a smart phone .. so data can be easily breached .. besides they can't force vendors to pay ! Can they ?
1) Lightning doesn't magically create money...you have to sell a good or service to generate revenue.
2) Payment processing costs money through Visa or through Lightning, but Lightning is way, way more efficient. See below for Liquidity Subscriptions.
3) There is no need to sell data to earn revenue. Sell a good or service instead.
4) Lightning payments are private by default and can't easily be breached. This is essentially impossible due to strong encryption.
5) You don't need a smartphone for Lightning. You can use a BoltCard or even a feature phone (See Machankura)
Liquidity Subscriptions - Replacement for Visa Payment Processing fees
Can bolt card make payments in USD on vendors that have visa or MasterCard machines ?
https://g.co/gemini/share/d923c4b8e0bb
This is super good ..
I think they solved the first problem - ease of use .. The question is how do they give 30 days credit and cash backs !
And #monero no one will know, even the vendor. Only you