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This enlarges Twitter from a social platform to a payment gateway. I didn't get it until I watched this video that shows a near-instant money transfer from Chicago to El Salvador, calling it a "Western Union killer": https://www.youtube.com/watch?v=SByPewKAiZA

Beyond huge for the diaspora sending money back home. Bitcoin's volatility is a problem, but widespread adoption (or adding a stablecoin/altcoin) would mitigate that issue.

Isn't this entirely unrelated to twitter though? This is just Strike's value proposition right? What does twitter add to this?

Also, is the claim about fees really true? If you look at Strike's FAQ on fees it says it passes all on-chain fees (and lightning fees) through to the user.

Essentially I'm very sceptical at the moment simply because I don't understand what it is about Strike that is saving you anything.

> What does twitter add to this?

It will (hopefully) provide an easy UX for normies to send funds. Not adding functionality but removing friction.

What I didn't understand about this though was the demo was like "Oh I've already got funds in my magic unicorn lighting non conformance wallet" which sounded a lot like he just waved away all the complexity which is actually buying bitcoin with cash and withdrawing it.

The process was like "I send $10 of btc here, and it turns up here" but not "I deposited $72 bucks into my account to purchase btc through strike here, which bought $65 worht of bitcoin, which was worth $120 by the time I opened the twitter app and sent the $10 worth of btc, which was worth $9.80 when it arrived and then the guy who received it in his wallet went to withdraw in USD at one of the new cash points by which point the currency had fluctuated again and it was worth $5"

It's a pretty amazing thing, but man, was that video hard to watch. It's like I'm having an averse reaction to the man's mannerisms and expressions.

What I didn't see, though, was how he got that $10 on to the platform in the first place. Is that explained somewhere else? Moving money from one account to another on the same platform is rarely an issue, the real challenge is moving it between companies/custodians.

Please keep in mind that this video shows a transfer from one Strike account to another. Is the value backed by Bitcoin? Sure, I'll give them the benefit of the doubt (though the temptation has got to be there to maintain a fractional reserve). But Strike owned the coins before and after the transaction, so it's hard for me to be impressed. How is this different from Venmo, apart from being denominated in BTC?

> This enlarges Twitter from a social platform to a payment gateway.

So, what LINE/Naver has been providing since 2014, except it's not using real money and thus adding one more level of friction?

Think I'll stick to LINE, thanks.

Is there any way to get lighting wallets on iOS?

Gave up after first attempt: https://breez.technology/

Leads to empty TestFlight

Second attempt:


"Cannot Connect to the App Store"

Try blue wallet or muun

Western union has no protections for the buyer, just like crypto.

But since Western Union only has a market cap of 8 B $, i guess the value of crypto is firmly overestimated.

> Bitcoin's volatility is a problem, but widespread adoption (or adding a stablecoin/altcoin) would mitigate that issue.

There is an extremely large audience within the crypto space that uses stablecoins (as you mentioned) and treats the base currency as inventory to be used as fuel to process transactions. It is currently a $100bn market with high daily volume. Our entire society is familiar with volatile prices of fuel and we don't transact directly in it.

It is strange to me that - 12 years into this - people are still leaning on the base units as being the payment method itself and worried about how the volatility could work in economic theory.

Its not an argument. If you want it to be an argument, then add the theoretical hedging capabilities with some kind of micro-futures contract that neutralizes volatility for the user. Merchants already hedge or autoliquidate via their own crypto payment processor. But volatility as an issue is simply not an argument. The technology is waaaaay past that.

The zenith of the base unit's scarcity and use comes from the small fractions of it used in each layer1 transaction.

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