Oddbean new post about login | logout I'm confused why you ran the service custodially when you could have easily made it non custodial by wrapping the invoice. Then it wouldn't be money transmission
Smol brain mostly, if I did it over again I would do it like this
How easy would this be to implement?
Nvm. It’s PHP. Don’t have time to learn that.
Serious question: for how long do you think wrapped invoices will avoid scrutiny?
If that were to be illegal then all routing nodes would be illegal
I know lawyers who were arguing well over a year ago that routing nodes require MTLs.
Lawyers are always trying to create new rules so you pay them more.
These were in-house and their decisions arguably cost the company hundreds of millions. So, dislike them, though we may, this is where we are. My point is that wriggling away won’t save us. Fighting back on their territory may.
If a lawyer gets a company to burn hundreds of millions of dollars on their recommendation, they have ultimate job security.
how would that work in this case?
The way his previous way worked was create an invoice and then after it gets paid immediately send to the person's lightning address. Instead he could get an invoice from the person's lightning address, then create one of his own with the same payment hash. Once the invoice gets to him, he pays the original invoice from the lightning address and use the preimage to settle the payment to him.
I can't tell for sure but I think the power of the product was in invoicing for payees that are not constantly online, or don't have a reliable LNURL presence
It required you to have an lnurl
I remember the website saying they can even pay you on-chain. if it required LNURL I don't understand what the service was... just invoicing for e-commerce?
Yep, it's a commie shithole, run by commies