18vAvhTbSvdTepXxxzUCE7E35TCR1JGjvS ·
High fees are the achiles tendon weakness of BTC and ETH. We will ruin those networks using wide distribution of BSV enabled by miniscule fees and infectiously fun apps. Fun is built on being easy and instant.
Replies
1E5wYaMr6BYL3qHSZQ3sPqaQHvaCVoYcfh (678) ·
brother i think we gotta accept that is not the case at this point
18vAvhTbSvdTepXxxzUCE7E35TCR1JGjvS ·
The BTC surge was the last chapter of the first section in the book of bitcoin.
It must be a goliath, so there can be an epic battle down the road.
Two early next gen apps to watch:
https://twitter.com/PayPistol
https://twitter.com/playwithhaste
1E5wYaMr6BYL3qHSZQ3sPqaQHvaCVoYcfh (678) ·
not sure how that competes with BTC that moves billions every block
1L4RWaXx93KZoe1sbLpN4YMhD7PXhVw5kd (1933) ·
handcash connect is a trap
18vAvhTbSvdTepXxxzUCE7E35TCR1JGjvS ·
who said that?
18vAvhTbSvdTepXxxzUCE7E35TCR1JGjvS ·
by whom? For what?
18vAvhTbSvdTepXxxzUCE7E35TCR1JGjvS ·
maybe a better response.
I prefer to look at it as a race to 1 billion users and 10 million uses.
Their lead is not relevant.
1L4RWaXx93KZoe1sbLpN4YMhD7PXhVw5kd (1933) ·
it is custodial wallet that happens to publish its transactions on chain
14mTHtYdMt9wtCFWNj6YUhYL8ACPrVPnNz (20825) ·
@102 I don't think this is true.
18vAvhTbSvdTepXxxzUCE7E35TCR1JGjvS ·
I suppose that's going to lead into debate about threshold signatures and consumer users.
I appreciate the input , but not really looking to go there.
But if folks want to have it on this thread, OK by me.
1Gt4Zvu9HviBaWRH6uoP6YwxRGHCWd4Ess (91) ·
It’s not true. And even if it were custodial, Bitcoin still works the same: the only job miners have is to settle payments. Custodial or non custodial... that’s not even discussed in the white paper afaik
1L4RWaXx93KZoe1sbLpN4YMhD7PXhVw5kd (1933) ·
I don’t see how this is better than stripe updating it’s database with similar product
1Gt4Zvu9HviBaWRH6uoP6YwxRGHCWd4Ess (91) ·
It’s 100% different. Not even the same category of product. Do you understand what’s the difference between custodial and non-custodial wallets?
1P64ThNtECjBzA98VsPCMF8igPekxt1abU (1512) ·
Do go on? I'd assume custodial is something like: I can call you up and ask you to sign some money over to another account on my behalf, and so long as you can verify it's really me, you could do that.
Whereas handcash __________ could you fill in blank?
1L4RWaXx93KZoe1sbLpN4YMhD7PXhVw5kd (1933) ·
I’m just skipping ahead to micro transactions argument. Let it be PayPal not stripe. Materially it’s the same for user, even with rather large number of tss participants. HC and whoever is a trusted third party from WP 😬
1L4RWaXx93KZoe1sbLpN4YMhD7PXhVw5kd (1933) ·
Also, we don’t even know you don’t custody in a sense that you saying, because tss/key splitting setup is not documented anywhere.
1Gt4Zvu9HviBaWRH6uoP6YwxRGHCWd4Ess (91) ·
In a multi-key wallet no party is considered custodian if it doesn’t have OVER 50% of keys. Plus user/account owner is the only one with access to all parts and able to trigger payments. (This is also in the area of money transmitter)
1Gt4Zvu9HviBaWRH6uoP6YwxRGHCWd4Ess (91) ·
No. Custody in a multikey wallet is defined by number of shares and % of shares owned by each party. At least where it is defined - not all jurisdictions differentiate between custodial and non-custodial virtual currency wallets.
1Gt4Zvu9HviBaWRH6uoP6YwxRGHCWd4Ess (91) ·
Also different definitions for what a virtual currency even means...
1F8Xao4zgGEcfZRQpn1SroARGbCK4CjkyC (561) ·
would you say Handcash is a partly custodial wallet? as in handcash has some shares of the custody and shares are divided between parties.
Honestly I think for most nocoiners it would be best to start with a multi-custodial wallet than lose their privkey
1F8Xao4zgGEcfZRQpn1SroARGbCK4CjkyC (561) ·
multi-custody is the future where users control who they give custody to and key management of your own keys & those of others that gave you partial custody is automated behind simple actions like a password + biometric encryption
1Gt4Zvu9HviBaWRH6uoP6YwxRGHCWd4Ess (91) ·
There is no partly. Either it is or it is not. And it is not, by definition.
1F8Xao4zgGEcfZRQpn1SroARGbCK4CjkyC (561) ·
if you mean custodial as the money being in one place manageable by one entity, then I get it. Not an expert of the legal meanings of those things
as I understand it handcash does hold some keys of the TSS, is there a word for those types of wallet yet ?
1L4RWaXx93KZoe1sbLpN4YMhD7PXhVw5kd (1933) ·
It’s a trusted third party from users perspective, no idea how hc compliance come into play here
1Gt4Zvu9HviBaWRH6uoP6YwxRGHCWd4Ess (91) ·
If no party involved is holding more than 50% of shares, it’s “non custodial”. (Long story short)
1F8Xao4zgGEcfZRQpn1SroARGbCK4CjkyC (561) ·
thanks for the clarification, makes sense
1PHt66fLG81VvUzDc1wYwvgQarYCUXy2gp (4521) ·
most people don’t wants to manage private keys. They’re an impediment to mass adoption.
We need more keyless and even high quality custodial solutions for a better user experience.
16RWrumxKd8NGCSpaQATUVUSoUBe5s3vVV ·
Absolutely - that's the profile of what will be >95% of the consumer market, $200 or less, probably under $50 in most cases, 1 billion users, take over the world.
1LqYF48Rd6D6azKCmA523F8AtT29HFG9f3 (1512) ·
/pay @102 $2. Thanks for the insight - always appreciated.