Post
Topic
Board Economics
Re: What do you think about this "Bitcoin-backed money" idea?
by
Ultrafinery
on 15/05/2016, 16:07:32 UTC
Lightning Network is the pipeline with a first functional version for this year.Then you won't have to wait a few minutes if you are going to buy something with Bitcoin of bigger value.

You will, otoh, have to pre-fund all your purchases, as you would by buying a gift card. In other words, if you want to use Lightning to buy your Starbucks coffee, you will first have to "create a payment channel" and fund it with enough bitcoin to cover all your future purchases.
Just like buying a gift card.