Re:$38M USD moved for half a penny
by joosters on Saturday February 27, 2021 @07:28AM
(#26284407)
It’s telling that the amount is always specified in dollars, because that’s the stuff that actually people want and use. And if you wanted to convert it to usable dollars, it would cost thousands of times more.
[ Parent
| on HN ]
Henry Ford also thought it was telling that people wanted faster horses right?
Again, and I hate to keep repeating myself, but this is not true and just shows that people are not doing their research and/or they're stuck in 2016.
Strike (https://global.strike.me) has built a product in which they use Bitcoin and the Lightning Network to send money (fiat currency like USD, EUR, etc.) around the world instantaneously and at virtually no cost. In some cases, they are able to offer exchange rates that are better than the inter-bank FX rate.
Explanation of how it works: https://jimmymow.medium.com/announcing-strike-global-2392b90...
This must be the 4th time ive seen this app linked here and every time i go to use it THERE IS NO WORKING PRODUCT THAT I CAN USE. Also the hipster tone from the founder of this app makes me cringe every time because it seems very forced.
I thought this was Hacker News? What does the personal style of the founder have to do with the technology?
The app has already launched in the US and you can use it if you live there. Global launch is coming soon - they're running a trial in El Salvador.
Why is a community of makers hating on a fellow maker? Beats me.
Re:$38M USD moved for half a penny
by _delibash_ on Saturday February 27, 2021 @07:56AM
(#26284568)
There's always a cost. Even if you do not see it in the numbers.
I think in the case of crypto the cost is the volatility of the coins against the dollar . So that if you wanted to do something with those 64 usd you may end up with 1 million less by the time you exchange it due to volatility and slippage.