Nostr Web Client

I feel sort of insane because everyone's so excited, but I can't think of a personal use case for #Strike.

You’re a big brain dev so probably different situation

But for an average pleb with an average job, strike is great for stacking. The DCA options are hourly, daily, weekly, biweekly, monthly and fees are quite low.

Also you can send funds from your fiat balance to fill a LN invoice or on-chain. So like, those merchants that offer a discount for paying in bitcoin, you can get that discount by using your cuckbucks. Pretty sweet imo

Also it gives people lightning addresses which is nice. And you can do lightning withdrawals, and there’s still a free option for on-chain withdrawals.

Mind you it’s still a centralized KYC situation. But it’s pretty damn good!

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Discussion

Laeserin 1y ago

I guess I'm underwhelmed because I have a practical setup and hardly ever move anything, other than my monthly DCA and zap-refill.

What are the exchange-rate spans on the free, on-chain withdrawals? Does Strike really lose money on those?

no₿ody™ 🧱 1y ago

Well i may be confused but there’s no exchange rate for a withdrawal, like when you already stacked using strike and then withdraw. But i’m certain they lose money on the free withdrawals. It confirms within 24 hours so even though they batch, that’s gotta cost something

Laeserin 1y ago

But if everything they do is free, where does their profit come from? 🤔

. 1y ago

FREE* spread baked in

Laeserin 1y ago

Yeah, I figured. Or they're trading.

vinney...axkl 1y ago

Not everything is free. The ~24 hour withdrawal is free. Faster is quite unfree, rev transaction fee.

no₿ody™ 🧱 1y ago

Free on-chain withdrawals is not “everything they do” it’s just one option for one feature. I think they make their revenue from fees/spread when people buy or sell. Not sure though

. 1y ago

DCA is buying bitcoin kyc

ACH is using fiat to pay an LN invoice

₿ountiful 1y ago

Yeah, “paying” yourself from $ balance to a self-custody ln wallet is the best use case IMO. Psudo KYC-less and plausible deniability if you stack round amounts and use good ln privacy practices.