pull down to refresh
41 sats \ 23 replies \ @Coinsreporter 8 May \ on: Ideas for Prediction Market Financing econ
All great ideas!
I agree but I just wanna add here:
Lightning has much lower transaction costs for cross border payments. Saying this in the context of India's UPI payment system which has 0 costs while transferring upto 200k INR/day.
Good point. No doubt there are various subsidized payment systems that are cheaper, plus custodial ledgers are very cheap too.
reply
While other advantages of lightning as payment system definitely underscores any fiat payment systems, I want that people shouldn't just hate custodial lightning services because they are the only ones which can compete with UPI type fiat payment systems.
Recently I had an instance where I had to pay 1 million sats/100k INR to someone and the through Blink the fees was 0 but it's not 0 from. self custody wallets.
reply
For sure.
I didn't get into this level of detail, but the large channels a popular prediction market would need could really help bring down fees on large transactions like yours.
reply
I would suggest Predyx give an option of custodial wallet but then again, the problem, I guess they would need MTS license. So, I don't think @mega_dreamer would give it a look atm while Predyx is still in beta.
reply
You can use their custodial wallet.
reply
Ahh sorry, I typoed non custodial, I've edited it.
Can you pay from the custodial wallet of Predyx?
I'm not aware if they even have a wallet? Yeah, they show it for withdrawal but it's not a wallet I guess.
yeah MTS is an issue. We're in the waitlist of Harsha Goli's Magnolia https://magnolia.financial to act as our custodial.
We tried talking to ZBD, but its seems they're busy serving other large customers.
reply
Great. Thanks for the info.
I'm hearing about mangolia financial for the first time.