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0 sats \ 8 replies \ @standardcrypto 8 Oct \ parent \ on: SN's wallet plans meta
Is every SN zap really a lightning transaction? That's nuts. Why?!
The only LN transactions should be topups for when there is insufficient funds in your SN wallet.
I guess now ln is cheap enough that it doesn't matter, so why not?
But this won't last forever.
Edit: as to the why, I guess the answer is so that SN can be not-custodians and all the regulatory and ethical and security headache that flows from that.
Well, that does make sense.
Is every SN zap really a lightning transaction? That's nuts. Why?!
It isn't currently. Even after this switch, "every" zap won't be a lightning transaction. If you want the zaps you receive to be bitcoin and not some in-game currency/sn gift card, you're only going to achieve that with a lightning transaction. Otherwise SN would be a money transmitter and would be obligated to KYC you (which is more nuts imo).
But this won't last forever.
I don't suspect LN will ever be much more expensive than 1-2% of the funds moved.
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My understanding of SN zaps... is that they were held in an 'account' for us till they were 'withdrawn'. Each 'zap' is not a lightning transaction then. Just a number on a screen saying what our sat-count was (until we withdrew some of them).
There is no need, in my opinion, to worry about custodial/non-custodial over 100 sats it's too small to be significant.
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Let's create an SN bailout fund in case any stacker finds himself behind bars for these illogical regulations.
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Why 'mericans became such pussies these days?
That "money transmission law" refer only to fiat money, not to bitcoin.
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None of this makes any sense.
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Financial regulations for 100 sats (a fraction of a penny) on some obscure website (sorry but it's true).
No regulations for 35 TRILLION of debt growing every year. This is why we need Bitcoin so badly.
To be 50 TRILLION in 10 years
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