lol. Kevin has had some amazing guests on his show, but I was most looking forward to this episode.
It's very interesting that you bring up the opennode example regarding kyc. A few days before this podcast, I made a post regarding this exact same topic.
I'm building a non kyc solution to this problem. My biggest concern is how to build trust with customers. "A random guy in a random country" isn't very assuring. I'm curious to hear your thoughts on this question.
Do you think hosted channels might be a solution? One of my worries for hosted channels is that the standard fee for these services (1%) might be higher than the maxfeepercent parameter that the payer is using. For example, in core lightning, the default maxfeepercent is 0.5% (total fee for all the hops combined). This might make it infeasible to use hosted channels for this use case.
Besides hosted channels, do you have any other ideas for a service like this building trust (besides earning it over time & reliability, that I will do regardless)
You already have my trust sir, trust is cheap when the amount of funds you deposit is low.
The problem is never trust, it's regulation. Everybody is afraid of regulation, and business that want to grow and attract investors and high value customers will often have to comply to idiotic dumb stupid regulation.
Our only chance is to decentralize the custodians, therefore what you're doing is amazing.
maxfeepercentparameter that the payer is using. For example, in core lightning, the defaultmaxfeepercentis 0.5% (total fee for all the hops combined). This might make it infeasible to use hosted channels for this use case.