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lightning is a pain to set up, you have to open a channel and keep funding it - so if we are talking about small amounts these costs should definitely be added to your calculation. or you use lightning via an exchange - but that again kinda defeats the purpose of bitcoin. in fact all of this could probably be achieved much simpler by just using a stablecoin on tron, solana or one of the ether chains and forget about the whole lightning sending and bitcoin hedging. I doubt you can get lower transaction costs end-to-end staying on btc.

I would guess the price for payment processing drops tremendously when you don't need to handle fraud or chargebacks at all. It's for sure worse for consumers but I do think it has its place (for example adult content that has huge chargeback risk or straight up blocked by other processors).

Monero is even cheaper and more useful as cadh because it's private. Anyone can see Bitcoin history and where the user got their coins.

Just like how OpenAI is open source.

Avoid trademarking fees! No need to spend money on trademarking what can't be trademarked ;)

"Open as in wallet"

Open for scammers, rug pulls, and money laundering

OpenAI rings a bell

I was talking to someone running an ecommerce site, they also run their own lighning nodes and there's many reasons:

- High risk customers that the shop can accept if there's no chargeback option. For these users that are excluded from many ecommerce shops that's a good option and they are willing to jump through some hoops

- Customers from countries that are restricted from using VISA / Mastercard

- People from countries with active sanctions against.

People in other countries trying to buy stuff from US ecommerce sites. A number of payment processors really don't care about them, and simply will not let customers from there buy using a credit card.

Someone who doesn't have good fiat rails like third-world countries. Or people who just don't want to be part of the fiat system. Or both.

This has tradfi banking ramps. You don't need to hold it. You can treat BTC as basically a payment network instead of something like the visa/mastercard cartel.

Yes, it goes up and down. Fiat currency only goes down. It's a lot more fungible than stocks.

$100 is the transaction value,it is not the cost of the transaction fees.

The fee is $1. They charge a 1% fee for instant payouts.

You don't. They are accepting $100 worth of BTC, converting it to dollars and giving you the dollars. They are basically operating like a credit card processor with a 1% fee, allowing you to accept bitcoin but operate in dollars.

It sounds like the fee is about $1.00: the delta between $100 and $99.

??

The merchant requests 100 USD. The user pays X BTC equivalent to 100 USD. The merchant receives 99 USD aka the fee is 1 USD

You mean payment processing? BTCPay Server is the defacto standard I would argue.

Have used it for accepting LN transactions for years.

And that isn't even the original meaning either! "open source" in reference to software was itself a term stolen from the intelligence community.

"open" is simply a vague word that you are assigning more meaning to than it actually means.

The ambiguity of the word "Open" has a long history. Going back to at least late 1980s, when X Window "skin" OPEN LOOK (by AT&T - Sun consortium) had license issues and Open Source Foundation started work on OSF Motif.

Obligatory "Stallman was right" here.

Seriously, though. Without legal teeth and against marketing, "Open" never much stood a chance.

> or cash come to mind

Did you mean Bitcoin Cash?

Stablecoins frequently get frozen by Tether and Circle for arbitrary reasons, as if an AI system is flagging

Stablecoins can be censored. You deposited into Huobi 5 years ago? Banned. Now we keep your stablecoins, thanks for playing.

You can't censor Bitcoin.

It is what it is. You have to implement KYC if you want fiat rails. A merchant can't KYC every single person that comes to the store. But you could build a system to eventually ban wallets that could be tied to criminal activity.

The merchant can also pick to use Lightning and keep the Bitcoin instead of selling it for fiat.

Bitcoin is slow as well, unusable for payments. I still think Bitcoin is better than fiat because at least it doesn't require an ID to make a wallet and it's self custody.

Monero is the best crypto we have for currencies, though. And currency is the only value I see in crypto.