Replying to Avatar Dikaios1517

Lightning is a protocol, not a company. Lightning can't "offer" anything.

There is nothing stopping a custodial lightning wallet provider from offering 30 days of credit, but then I guarantee they would have KYC so they can collect if you don't pay it back.

There's also a reason credit card companies are able to offer 2% cash back. It's because they are charging each merchant who accepts your card 4%+ in transaction fees, and just passing a portion of that on to you. Lightning doesn't have anywhere near that kind of ridiculous fee rate, and what little fee is charged is paid by the sender, not the receiver, as it should be.
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Satosha 7mo ago

Yes .. that is the product here .. charge the vendor - let them charge the customer - you pay the customer back a tiny part ... Isn't it genius :-)

Yup on KYC .. if you want credit you got to share your credit worthiness ..

But the real genius is the thin weightless plastic card .. it is not competing with physical wallet .. nor with thousands of apps on yor iPhone home screen .. it just slips into everything ... Lose it .. no problem ..call the company and cancel it ...

Visa and Master card are the ULTIMATE oc customer delight and customer services .. lightning has miles to go if it truly wants to be a dominant player in payments .. Orange pics do help :-

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Dikaios1517 7mo ago

So you're saying that if Lightning is going to work, the receiver needs to be the one who pays the fee, everyone has to be locked into KYC custodians so they can get cheap credit, and we need plastic cards filling our wallets, instead of just using an app on our phone?

Sorry. Hard pass.

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Satosha 7mo ago

That is exactly why #bitcoin won't become a payment system :-) ..

btw it need not be .. cuz payment systems don't even have like a basis point worth compared to SoV #gold ..

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idsera 7mo ago

All teens I see here in Brazil pay with mobile.

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Satosha 7mo ago

Most wallets are funded by credit / debit cards ..

Kids use smart phones cuz they are used to it .. but their percentage of shopping amount is way less ..

I have tried apple pay .. through phone and watch .. and also Google' s through both .. here is my take ... As the novelty whethers down .. it will be over .. cuz it is just too clunky .. besides people will anyway stop using smartphones ..

Btw .. if you are privacy supporter ( which I am not :-) .. first thing you should do is separate your financial life from smart devices .. that is like a no brainer :-) cuz ..now you are not only KYCed.. you are literally part of data arbitration..

Credit card companies ..do sell you data .. but there is at least a level of separation..

Besides ..smartphones will be legacy like the PC .. new gadgets like AI smart glasses and pandents .. will take time for payments ..

And finally the safety of a separate device .. what if your phone died ..battery .. you don't want to recharge your payments system everyday ..

Separation of payments from smart devices is a fundamental requirement .. lightning has a massive opportunity.. but it will fail cuz bitcoiners don't know how to run finance as a business .. they want freedom from finance .. that is what they will get :-)