Re:PayPal Bids $500M to Acquire Crypto Startup Curv
by xur17 on Wednesday March 03, 2021 @01:04PM
(#26332165)
> What you're really saying is that you don't think BTC should help banking the unbanked (because they often live in poor countries where their weekly salary is your cup of coffee).
That is not at all what I am saying. I'm saying that technically only a very small subset of transactions should be settling on the base BTC layer, and hence that is how incentives should be (and are) setup.
Re:PayPal Bids $500M to Acquire Crypto Startup Curv
by bustin on Wednesday March 03, 2021 @01:36PM
(#26332550)
Why would people prefer to use a paypal that settles on the bitcoin network vs a paypal that is based around USD?
Re:PayPal Bids $500M to Acquire Crypto Startup Curv
by xur17 on Wednesday March 03, 2021 @01:43PM
(#26332631)
I have no idea, but second layer networks have much different properties than a custodial paypal service has.
In terms of USD vs BTC spending - I imagine a lot of people will want to spend USD, and BTC will serve as a store of value and backing asset. USD is possible via stablecoins though.
What you're really saying is that you don't think BTC should help banking the unbanked (because they often live in poor countries where their weekly salary is your cup of coffee).
> Why is it "laughable" for the lightning network to use BTC as a settlement layer?
It's laughable because people will just use another crypto, so they don't have to pay the +2 large and expensive BTC on-chain fees.