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41 sats \ 23 replies \ @Coinsreporter 17h \ 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.
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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.
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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.
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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.
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You can use their custodial wallet.
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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.
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Great. Thanks for the info.
I'm hearing about mangolia financial for the first time.