Re:Visa Plans to Enable Bitcoin Payments at 70M Merchants
by thebean11 on Wednesday March 17, 2021 @04:31PM
(#26496419)
Why would it reduce the value? Off-chain transactions are something the core Bitcoin team are very much in favor of.
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Re:Visa Plans to Enable Bitcoin Payments at 70M Merchants
by postalrat on Wednesday March 17, 2021 @04:33PM
(#26496437)
That sounds like they are in favor of not using bitcoin.
Re:Visa Plans to Enable Bitcoin Payments at 70M Merchants
by thebean11 on Wednesday March 17, 2021 @04:37PM
(#26496482)
They are in favor of not using the L1 Bitcoin blockchain for small payments. L2 solutions, both decentralized ones like the lightning network and centralized ones like Visa are still "using Bitcoin" as a currency, even though they are not using the L1 blockchain.
Re:Visa Plans to Enable Bitcoin Payments at 70M Merchants
by tylersmith on Wednesday March 17, 2021 @04:50PM
(#26496630)
Instead of using Bitcoin, the transaction network, they are using their transaction network to transact bitcoins, the asset. The chain gets used primarily for settlements in this model.
Re:Visa Plans to Enable Bitcoin Payments at 70M Merchants
by MrMan on Thursday March 18, 2021 @01:31PM
(#26505229)
If your purchasing power is calculated in bitcoin but your purchasing in some other currency, there is no real problem there. Bitcoin network can get used one per day for settlement, and the rest of the time use visa digital coins! Which they call dollars or euros, some differently named legacy meatspace fiat. Then bitcoin is free to just swim around in libertarian platonic ideal of freedom from societies obligations and rules