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49 sats \ 5 replies \ @piecover OP 3 Feb \ parent \ on: Would You Use Opendime More To Transfer Bitcoin Ownership(UTXO) if They Were $5? bitcoin
Maybe they don't want to spend on-chain TX fees nor having to worry about mempool will be in the future if they are only receiving $50 or 100K SATs.
If someone is selling you something peer to peer and they would like to have the off line experience cheaply under $5 I think it will worth their time to verify an opendime or learn how it work in a few minutes
Maybe they don't want to spend on-chain TX fees nor having to worry about mempool will be in the future if they are only receiving $50 or 100K SATs.
It's a lot less risky and a lot more convenient to accept a Lightning payment in most circumstances, even if you're using a custodial wallet. Properly checking that an opendime actually has BTC on it is pretty inconvenient. And you have the problem of fixed denominations that are unlikely to match the amount you actually want to transfer.
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Fair
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Again it's not for everyone but it would it's a great physical Bitcoin experience
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if they are only receiving $50 or 100K SATs
The problem is that you can't load $50 onto the device, the fiat value will be volatile. Once we have hyperbitcoinization and denominate value in bitcoin, something like the opendime might be more useful.
I think it will worth their time to verify an opendime or learn how it work in a few minutes
Yeah, but they could also install a lightning wallet and receive coins in a few seconds. Granted, it would be custodial, but for a first time bitcoin user they probably wouldn't know the difference anyway.
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You can load more than $5K worth of bitcoin on them(not recommended) but still, if you care about holding your own utxo.
But you're right though, lightning is definately a better option for newbies and ease of use experience, we can use things like bolt card, Sats card
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