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ragster
412e4649e8f052c561ca3ce476db3dda7cdb720e07f0e220f01a899e3ead82b5
UK ๐Ÿ‡ฌ๐Ÿ‡ง London Bitcoiner. Orange pilling High Street Bank. Payments. Umbrel โ˜‚๏ธโšก๏ธnode=BTCRich

Retail is back. 50% increase in volumes to exchanges and doubling of values in last couple of months

Replying to Avatar jack

๐Ÿ‘€

The FT hates Bitcoin. Especially when it goes up in fiat terms!!

More than 60x

Money history in UK

Throughout human history, the way that we pay for goods and services has been becoming progressively less tangible and more remote. Early human history was a barter economy. Then coins started appearing in the world around 600 BC, and the Romans brought them to Britain around the first century AD. The Royal Mint was founded in 886 and is the 10th oldest company on the planet. Cheques appeared around

1660 - issued by Goldsmith bankers for making loans. Banknotes - exchangeable for the equivalent value in gold - were produced in the UK from the mid-18th century. Wire transfers became possible around 1871. Around 1960, wages started to be paid direct into bank accounts, and the first ATM was introduced in 1967. The rate of change has accelerated rapidly over recent decades, with credit cards, debit cards, contactless, online banking, mobile banking and digital wallets. With each wave of innovation, money is less physical. and increasinglv has simply become a digitised number. As our relationship with money changes, the way that we authorise, understand and control our payments have changed at incredible pace over recent years. In 2022, 86% of payment transactions in the UK were digital, compared to 44% in 2012

Replying to Avatar Get10101

๐—”๐˜€ ๐—ณ๐—ผ๐—ฟ "๐—ถ๐˜€๐˜€๐˜‚๐—ถ๐—ป๐—ด ๐—ผ๐˜๐—ต๐—ฒ๐—ฟ ๐—ฎ๐˜€๐˜€๐—ฒ๐˜๐˜€ ๐—ผ๐—ป ๐—Ÿ๐—ถ๐—ด๐—ต๐˜๐—ป๐—ถ๐—ป๐—ด" :

nostr:npub18m4nmc2wchzgcmzvnluqjzxyrpshp64mwje2vuz60kulny3v6c0qtgcl2x : We don't need that.

At least for the use case you mention here.

A little surprised by this position... but let us explain :

Not so long ago, you referred to #Bitcoin as the value layer of the internet, with satoshis being the transport units of value, similar to data packets for TCP over IP.

It was such a great comparison, you nailed it, we loved it, it inspired us!

If you still believe in this, and in the fact that "Bitcoin is the only viable neutral settlement asset and network that can usher in a new era of global real-time payments", then, you should have a look to what can be achieved using Discreet Log Contracts...

and thus fostering, strengthening the resilience and the adoption of the underlying technology and native asset.

For example, we've managed to implement the first synthetic dollar on Lightning (USDP) : users can use the network as a means of transferring value displayed in dollars, yen or whatever, while only holding satoshis and contracts under the hood.

No issuer, no token, no counterparty risk.

We believe in this approach over relying on tokens and token issuers that could quickly become great points of failure because : "Everything else is either too centralized, not secure enough, doesn't have the required regulatory clarity [...]" in your own words.

Put another way, bringing stablecoins on Lightning means introducing centralized trusted parties AND counterparty risks on it, and could be a significant waste of energy (people wishing to use stablecoins already do so with USDT via TRON, for example).

Not to mention the risks of market/technology/regulatory capture.

There are other ways to bring fiat on Lightning of course, just like POUCH are doing with regulated banks for the custody...

Let's use Bitcoin and Lightning for what they are!

#Bitcoin as highway, sats as vehicles, let's ride!

nostr:note1et9l9aq0yk0w72sxme8eghgmea76lyqfvfluh97psqaf9s8qym9smzzkue

First time Iโ€™ve seen your product. Looks very cool as I assumed there was exchange riskโ€ฆ but no!!

2012: "No one uses it"

2013: "Only criminals use it"

2015: "Only nerds use it"

2017: "Only speculators use it"

2019: "Only a small % of the world uses it"

2020: "Only small companies use it"

2021: "Only small countries use it"

2022 and 2023?

UK banks have a mixed ability to allow payments to crypto exchanges

Replying to Avatar LN eSIM

Hello

Hello. Cool product