Oddbean new post about login | logout I assume this is in the “what would make it work better” category? 😂
There's got to be an easy way for folks to send their favorite artists a few sats without having to go to an exchange / kyc and jump through a million hoops. There needs to be a solution like what nostr:nprofile1qqsdv8emcke7k3qqaldwv956tstu40ejg663gdsaayuuujs6pknw7jspp4mhxue69uhkummn9ekx7mqpr3mhxue69uhkummnw3ezucnfw33k76twv4ezuum0vd5kzmqpzfmhxue69uhhqatjwpkx2urpvuhx2uc86mqq0 has done with Primal. This is the most important hurdle to overcome imo.
Yea it’s a hurdle where bitcoin is the only payment form. What about v4v beyond bitcoin payments?
I guess the payment is the whole point though right? I dunno, I'm worried that if the problem isn't solved it will remain a small circular economy among bitcoiners. Maybe not in several years when lightning payments are ubiquitous, but at least in the short term
I agree. I was more referring to non-Bitcoin payments/tips, as in fiat. Does v4v necessarily need to be bitcoin? Don’t get me wrong, I prefer it and it has so many advantages over fiat. But relatively low adoption of bitcoin for payments keeps the available v4v market fairly niche if other payment methods aren’t made available.
I always assumed a simple on-ramp solution would be possible and the next logical step but I'm not a dev and don't know the legality behind it. Seems like Primal managed it somehow. Would be cool to learn more about that. I think in person fiat tips always work well. Dollar bill in the hat on the stage kinda thing. But digitally, seems like there's too much friction, and then we're back to zaps 😂
Fiat can only be sent via credit rails. Credit requires KYC, which brings friction and deplatforming. In the long term, #value4value for non-mainstream content can only work via something that isn't credit, ergo bitcoin. https://dergigi.com/2022/12/18/a-vision-for-a-value-enabled-web/#credit
Agreed. But how do we get people from fiat to sats without sending them to an exchange just so they can make a 10¢ transaction for a song they enjoyed? Is there some loop hole of a minimum amount without kyc? Or do we need to wait for hyperbitcoinisation? 😅
Mine may be an unpopular opinion, but I feel it is a pragmatic one, that for now it is necessary to use a mix of fiat and bitcoin payments for V4V to be a viable monetization model even for bitcoiners. Strike offers a feature in particular that is suited to this use case, and that is that a Strike user can pay directly from their fiat balance to a bitcoin or lightning invoice/address. This still requires onboarding people to Strike, and the associated KYC there, but it also removes the friction of them having to buy bitcoin and then send it. But even still, I think the OPTION (and I emphasize option) for people to tip V4V artists in fiat is necessary. Otherwise, the market for such content is limited to ONLY bitcoiners willing to spend bitcoin, and that market is probably already over-saturated with supply of content.
brilliant idea and correct in my opinion..I practice what you explained
What do you find works well for you when it comes to v4v? What doesn’t work well?
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Zaps are so easy and frictionless it’s amazing 🤩 I hope for easier on-ramps. As for Primal, on the backend their wallet is powered by Strike. I’m not sure the specifics of the integration but Miljan and Jack Mallers have both mentioned that partnership.
Would be cool if they could talk about how they managed to do that and other platforms could maybe have a similar solution. I don't have an iPhone so haven't tried it. But it looks really slick