Replying to Avatar galegoo⚡

more practical - if I'm able to send 100 euros instantly to another person through fiat third parties, Bitcoin must do that. Lightning fixes this to some extent

feeless, or close to it - if I'm able to send 100 euros to someone with 0 fees associated, Bitcoin must do that. in this case it's acceptable if the fees are sub-cents, as they usually are in Lightning

right now, the Bitcoin network is slower and more expensive than traditional fiat institutions
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corndalorian 2y ago

Can you send 100 euros instantly via fiat third parties when one person only has Venmo and other only has CashApp?

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galegoo⚡ 2y ago

not from the US, never used those apps

in Europe we all have MBWay (at least that's the only app I ever used and everyone has it)

we can send euros instantly to each other, with 0 fees

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𝖋𝖎𝖆𝖙𝖉𝖊𝖓𝖎𝖊𝖗 (¯`◕‿◕´¯) 2y ago

“Sending” instantly is different from “settled” instantly. The funds might have been sent but can be reversed up to 180 days later. Bitcoin transaction is final in 6 blocks or less. Even when fees are high now, you are still paying less than $2 for final settlement.

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galegoo⚡ 2y ago

fees are proportional to the number of bytes your transaction has

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corndalorian 2y ago

You are comparing apples to oranges, a centralized payments network to a base layer decentralized settlement network.

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galegoo⚡ 2y ago

I know I am

but to an average person, with no knowledge of how fiat works or what is bitcoin, these will be their first concerns