It involves a platform (third party)
~snip
Obviously, the most important design choice is the addition of a third party to the system, namely the platform itself, which naturally raises questions on "trust".
~snip
Obviously, the most important design choice is the addition of a third party to the system, namely the platform itself, which naturally raises questions on "trust".
Ok, so not a troll at all indeed, but
Rather than trusting an unknown 3rd party with no reputation and no way to force him to obbery customer protection laws in your country with hundred of dolalrs all in order to avoid paying 10 cents for a tx most would rather use a credit card and a bank.
Second
Quote
((1) to (11) not going to quote the entire process
This is too damn well written for a real newbie
Please move the topic to Project Development as you're going to get far better feedback than here.
I remember the discussions about _ANYONECANPAY when Lighthouse was being developed but ironic, that hit scaling problems too.
Thanks for the answer and the suggestion. Obviously, many of the people in this forum are technically astute to understand how on-chain transactions work and why it is important to stay on-chain. It will take some time before a critical mass of people can trust us.
However, for every 1 person who can run their own Bitcoin/Lightning Node or onboard a pure non-custodial Bitcoin wallet, there are 1,000 people who have no technical know-how to pull that off but would be willing to use Bitcoin everyday since they don't have a bank account. As a matter of fact, there are 250M people in the world fitting that description. So, it's not really question of "I'd use my credit card than trusting an unknown 3rd party" but rather one of "I have a smartphone and internet access but no bank account, how can I make online payments?" That's the vision of the team behind this product. 1) Abstract everything technical 2) Make everything fast and free 3) Don't jeopardize user funds.
PS: I'm new in the forum not in Bitcoin.