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Re:Lightning Network: Scalable, Instant Bitcoin/Blockchain T... by MichaelGG on Thursday July 14, 2016 @01:53AM (#12091916)
The site talks about billions of transactions per second. So presumably multiple tx/sec/person on earth. Can you give me some examples of how this is useful? For instance, why would a CDN want to handle and record a financial transaction for e.g. every HTTP load or something?

I'm also suspicious of pay-per-whatever extending to end-users. People hate that kind of billing, even when it's cheaper (I learned this the hard way). And between companies, again, what's the benefit of having thousands of transactions when a couple would do?

Re:Lightning Network: Scalable, Instant Bitcoin/Blockchain T... by josephpoon on Thursday July 14, 2016 @02:05AM (#12091950)
No need for username/passwords. The flow would literally be you paid? You're done. No more per-website API tokens.

Pay per website you visit, you visit a lot of different websites.

The notion is that you make each payment to be the smallest atomic component, so you need high-volume for that (since one large purchase gets split into many small purchases).

End-users don't like being scammed. If it's sufficiently low value with sufficiently high service level, you will get adoption. Appstore payments of $0.99 don't even register for a lot of people (with the exception of egregious Pay-to-Win games), if the payment was $0.001 and you only end up spending $0.10 in a day nobody would care. If you're getting billed per-hour on AWS, people prefer that to per-month.

The benefit between companies isn't for persistent relationships. It's the notion that you're reducing information cost (instead of paying a large payment with signon, you don't care who your counteparty is -- if they don't deliver who cares you're only out $0.001). In the longer-term, this is about reframing how you discover business relationships in the first place due to information/transaction costs.

Re:Lightning Network: Scalable, Instant Bitcoin/Blockchain T... by statoshi on Thursday July 14, 2016 @11:56AM (#12094883)
You're on the right track: machine-to-machine payments. Check out https://21.co/ for more info.
Re:Lightning Network: Scalable, Instant Bitcoin/Blockchain T... by sanswork on Thursday July 14, 2016 @01:57AM (#12091928)
>Can you give me some examples of how this is useful?

Marketing.

Re:Lightning Network: Scalable, Instant Bitcoin/Blockchain T... by onetallnerd on Thursday July 14, 2016 @08:03AM (#12093032)
Machine to Machine payments. Payable endpoints 402 payments? They're tech guys not marketing. I'm not sure if the LN guys even have marketing people?