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1  Economy / Service Announcements / Re: Lastbit's Beta - A lightning network and Euro interface for Europeans on: February 20, 2021, 12:53:21 PM
There is only a mention of the EU and the U.S on your about page. Are there any plans to support the MENA region? Btw, I'm trying to access the LastBit lite page on the play store, and it's leading to a dead link.

Ah MENA not yet.. The applications are region locked to the EU/EEA only at the moment so that's why it leads to a dead end unfortunately.
2  Economy / Service Announcements / Lastbit's Beta - A lightning network and Euro interface for Europeans on: February 20, 2021, 07:10:38 AM
After years of work getting financial institutions to work with us, we're finally live with our beta and I'd love to get your feedback on our little project at www.lastbit.io

As I left India to study in Switzerland in 2016, moving money across borders sucked and I couldn't use Bitcoin to do anything. So I left university to start this company that would solve that problem and we ended up having to build two mobile applications to keep European regulators happy.

Both are powered by Lightning and effectively provide the easiest possible on and off ramps to Bitcoin & Lightning using Euros, featuring a MasterCard as well.

Any feedback would be awesome in making this a better user experience for more mainstream users. I just want to see everyone truly appreciate Bitcoin for what it can do and this is one possible way of getting there.
3  Bitcoin / Project Development / Re: Would you buy/sell Bitcoin over Lightning at a coffee shop? on: September 26, 2019, 11:38:06 PM
Thats a dream for money launders Smiley Do you know that governments planning to liquidate cash at all in future because of illegal activities with cash (drugs selling etc.)? So cash will become a past in near 5 years in Europe and United States. And you are proposing cash to btc exchanging at stores?

I mean of course there would be limits. You wouldn't expect to find 10,000 EUR for example in the cash register of a grocery store. I suppose in any case such a service would have to do some sort of KYC before allowing a user to use it otherwise the government would shut that service down.
4  Bitcoin / Project Development / Would you buy/sell Bitcoin over Lightning at a coffee shop? on: September 26, 2019, 10:41:29 PM
Dabbling on the topic.

Wondering how many of you guys would be interested in a service where you could walk into your local corner store and buy Bitcoin from the store owner by paying him cash and sell Bitcoin to him to get cash from his cash register?

Let's assume there's a fantastic lightning wallet out there that's super intuitive and easy to use with zero setup time required for new lightning users. Would you use something like this over localbitcoins or a regular centralized exchange? Is cash still a big thing?
5  Alternate cryptocurrencies / Altcoin Discussion / Re: Government-issued cryptocurrencies...Are they the Future? on: August 28, 2019, 12:05:02 AM
now it's possible to prove ownership, store data in an immutable form, and even vote without the possibility of fraud or corruption. With the advent of smart contracts, Blockchain Bitcoin has become more powerful than ever.

This is true only when the blockchain underlying the crypto-currency is open and accessible to anyone, i.e. decentralized, i.e. fraud and corruption cannot occur because the network is large enough that collusion to alter the state of the blockchain is impractical.

Now, is this what a government is/wants?
6  Other / Beginners & Help / Re: Best country for crypto on: August 01, 2019, 06:49:21 PM
What do you think is the worst countries? I bet it's be China or Russia with all of their bans and other crazy stuff unless you have a really trustable vpn (like nord or express)

Should be Bangladesh and maybe India
Rumors has it, some of their politics want to introduce jail time for crypto. It's much worse than ban  Grin

Absolutely nuts. This was in the national newspaper.
7  Economy / Service Announcements / Re: 🔴CRYPTO-LICENSES IN ESTONIA🔴 on: July 31, 2019, 12:30:48 AM
Can you provide some more information about these 3 licenses? What exactly do they allow? Why should someone get them? Are they applicable all over Europe? What is the advantage of paying you 6000 EUR to get these licenses?
8  Alternate cryptocurrencies / Altcoin Discussion / Re: Looking for interesting projects on: July 30, 2019, 07:32:58 PM
I am still looking for interesting projects or businesses around cryptocurrency that do not have any tokens.

Are you interested in working on a Lightning Network project?
9  Bitcoin / Bitcoin Technical Support / Re: Please help me understand encrypted information about Blockchain on: July 30, 2019, 07:19:52 PM
As @achow101 said, there is no website of the blockchain. Here's a crass overview.

Block explorers give you information about blocks, that contain transactions.

You can uniquely identify a block by it's block hash (Not transmitted between nodes) that is a double SHA256 hash of the block header.

The block header is an 80 byte field that is a concatenation of information in a block, namely - Version, previous block hash, merkle root (Hierarchical hash of transaction hashes - broadly), timestamp, difficulty and nonce.

Traditionally, legacy bitcoin addresses are encoded by computing RIPEMD160(SHA256(Public Key)) and encoding with Base58Check. Newer form addresses (Segwit & Bech32) use different encoding schemes.

Standard bitcoin scripts use DER encoded signatures not base64.
10  Bitcoin / Bitcoin Discussion / Re: Bitcoin & Lightning - Would you pay for coffee instantly if it was possible? on: July 30, 2019, 07:03:35 PM
How can we have mass adoption if we're not trying to use it for payments.

The masses want to save and preserve their buying power. That's the most likely job Bitcoin ends up with in its present form if it becomes big enough and relatively stable enough. Hundreds of millions have exposure to stock markets. You can't use stocks for payments either.

Right, but the semantics of a stock are different and their intended use case is for buying power. Bitcoin was created with different fundamental semantics. If it's only exposure is to save and preserve buying power, there would be no need for it to exist. But of course, it's fundamentals are different.
11  Bitcoin / Bitcoin Discussion / Re: Bitcoin & Lightning - Would you pay for coffee instantly if it was possible? on: July 27, 2019, 10:22:45 PM
In this kind of situation, would you be comfortable spending it if the amount of BTC you spent is replenished by an immediate BTC purchase, such that your net holdings remains the same?

How can one incentivize a new, average person to begin using BTC if the only reason that people buy it is with the hope that the fiat value will go up?

It's not easy considering Gresham's law. As long as weaker currencies like fiat money ("bad money") are widely accepted, people will opt to hoard away "good money" like bitcoins.

If/when Bitcoin achieves a sustainable economy where there is no need for fiat inflows and outflows -- meaning supply chains and payrolls are covered in bitcoins -- this can change. If people are getting paid in bitcoins, they will feel more comfortable spending them. As it stands, spending bitcoins and rebuying them later could entail lost bitcoins because of conversion/exchange fees and rising price. For most people, it makes more sense just to hoard their coins and spend fiat money on consumer goods instead.

Absolutely, but this is kind of a chicken and egg problem. To drive out volatility/"bad money", adoption must be rampant. For adoption, volatility needs to be driven out.

There's got to be some kind of gradual, seamless transition from good and bad money co-existing to one being the dominant driver.
12  Bitcoin / Bitcoin Discussion / Re: Bitcoin & Lightning - Would you pay for coffee instantly if it was possible? on: July 27, 2019, 10:04:20 PM
I spend a fair bit of BTC. I tend to use it to buy items that'll improve my life. That way I won't be sad if the price ever reaches squillions of dollars as I got plenty of good use from whatever I bought.

nice thought, but it'll still hurt lol. i try not to think too much about all the stupid stuff i spent my bitcoins on back in 2014-15. if i'd only known i was spending my coins at the bottom! that's why i never spend coins deep into a downtrend anymore.

it's still a painful subject. Tongue

This appears to be what a lot of bitcoin holders think. In this kind of situation, would you be comfortable spending it if the amount of BTC you spent is replenished by an immediate BTC purchase, such that your net holdings remains the same?

How can one incentivize a new, average person to begin using BTC if the only reason that people buy it is with the hope that the fiat value will go up?
13  Bitcoin / Bitcoin Discussion / Re: Bitcoin & Lightning - Would you pay for coffee instantly if it was possible? on: July 27, 2019, 08:30:35 PM
Even if they say they will, I believe most of the HODLERS will never "waste" their Bitcoins to buy coffee, with, or without Lightning because of the opportunity costs. Bitcoin's strength as a store of value, is also its weakness for adoption.

They might do it once. But don't hope that they will regularly use Bitcoin instead of cash or credit cards.

I understand, how about the situation with people that had bitcoin before mid-2017. For example you have 300% in profits, would you be comfortable spending some portion of that on a purchase while simultaneously purchasing that same amount of BTC so that your net bitcoin holdings don't diminish?

If HODL-ing is the primary mentality of even half of bitcoin holders, what possible incentive does bitcoin even present for usage by the common man?
14  Bitcoin / Bitcoin Discussion / Re: Bitcoin & Lightning - Would you pay for coffee instantly if it was possible? on: July 25, 2019, 11:34:23 PM
It depends on the timing - spending during the bear market hurts, because soon afterwards you'll start regretting it, thinking "those coins are worth 4-5 times more now". Spending in the bull run can also hurt, when in one week the price is already 20% up. I currently want to buy a few things, but I wait for Bitcoin to go back to at least $14k.

In this situation, wouldn't you want to spend your current profits on a purchase and purchase BTC to cover up the amount you spent? Or are you more interested in HODL-ing?
15  Bitcoin / Bitcoin Discussion / Re: Bitcoin & Lightning - Would you pay for coffee instantly if it was possible? on: July 25, 2019, 10:23:33 PM
I spend a fair bit of BTC. I tend to use it to buy items that'll improve my life. That way I won't be sad if the price ever reaches squillions of dollars as I got plenty of good use from whatever I bought.

Unless I had no alternative, and I do, I wouldn't spend it on consumables like food, coffee, fuel. That stuff eventually comes out of my arse, urethra or exhaust pipe never to be seen again, though it was certainly useful at the time.

The key to spending is earning in BTC. And those who bought for a lot less have earned more buying power in a sense too. If you've got it coming in then you'll be more inclined to spend it. If you've laid out your dollars in the hope of doing well, and are yet to, and underwent all that hassle to obtain it then you'll be far less willing to spend. You'll want to hoard.

A lot of attitudes and circumstances will need to change for it to see regular use as a currency. We're nowhere near it now. We may never be.



Hmm right. What do you reckon is the rationale behind crypto debit cards? For example, coinbase probably wouldn't launch such a thing if there wasn't a large enough user base for it, or not?
16  Bitcoin / Bitcoin Discussion / Bitcoin & Lightning - Would you pay for coffee instantly if it was possible? on: July 25, 2019, 09:09:41 PM
Bitcoin was created to be a universal currency and lightning makes it possible to make completely P2P micro-transactions for a few pennies paid in fees.

Now let's assume for the sake of this poll that you could now spend your bitcoin that is under your control on your wallet, anywhere, by just tapping your bitcoin wallet (hardware or mobile) against an existing credit card machine and you are able to pay with bitcoin over lightning.

What I'm trying to understand and defend against a lot of the mass skeptics is this exact question - Would you use bitcoin as a currency if it was possible?

I believe, irrespective of the value, anybody that held bitcoin before 2017 would be in a place to spend it.
17  Local / Marketplace (India) / Selling my 12 x RX 580 Rig? on: May 28, 2019, 03:22:18 PM
I've got a fully setup bios modded RX580 rig with 2 x Corsair HX1200i's and a H110 Pro BTC+ with a frame.
SMOS funded and loaded ~390-400 KH/s on ETH

PM me if you're interested. Located in Bangalore for pickup. Pretty flexible with price.

Selling because I live in an area with terrible electricity reliability and investing in a UPS is not an option. This rig has been dormant for a few months now. Used for about 6 months. Bought last year.
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