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Re:El Salvador to adopt Bitcoin as legal tender by PragmaticPulp on Saturday June 05, 2021 @09:20PM (#27409896)
> Wow, this seems like an incredibly shitty situation for the people of El Salvador.

Indeed it is. The government just mandated that everyone in the country is obligated to use a startup's app, more or less. This has to be one of the most egregious examples of regulatory capture I've seen in a long time.

"Legal tender" means that people are legally obligated to accept this as payment. Maybe the law will be broad enough that the buyer can set the terms of how the Bitcoin is delivered, but given how prominently this Strike app and their founder are participating in the launch, I suspect it will mostly just drive users to this startup.

Forcing everyone to accept Bitcoin, maybe through a specific startup company's app depending on how this is rolled out, is a weird juxtaposition to the libertarian ideals of many Bitcoiners.

Re:El Salvador to adopt Bitcoin as legal tender by RustyRussell on Saturday June 05, 2021 @10:39PM (#27410274)
Lightning developer here.

I have no idea what their legal definition would be, but lightning is an open standard, and Strike is but one implementation.

Re:El Salvador to adopt Bitcoin as legal tender by foepys on Sunday June 06, 2021 @02:15AM (#27411159)
How do you as a Lighting Network developer propose that the citizens of El Salvador secure their Lighting Network Channels so they don't get drained of their funds? LN channels require each party to observe the channel for malicious transactions so they can forcefully close the channel if one occurs. Can the average user handle this or are intermediaries needed?
Re:El Salvador to adopt Bitcoin as legal tender by wyager on Sunday June 06, 2021 @12:33AM (#27410812)
Lightning isn’t an app - it’s an open protocol supported by dozens of programs. This one app you’re talking about also supports it.