Bitcoin is permissionless. Who are you to tell us what can we do with it?
You can waste your money if you want. Doesn't mean it was ever a good idea. Satoshi never made BTC for small payments, which is why he knew sidechains were needed.
Satoshi envisioned online, permissionless micropayments from the very first release. :)
And then later he realized the need for sidechains to scale. Dumbass.
Once [Bitcoin] gets bootstrapped[...]you could effortlessly pay a few cents to a website as easily as dropping coins in a vending machine.
- Satoshi (RE: Bitcoin V0.1 Released)
Still waiting for HTTP Error Code 402 (Payment Required) to enter general usage.
Difference between HTTP 402 and Bitcoin is that Bitcoin actually made progress in that area ;)
I would image the majority of these types of payments will be of the the mico-type. If a single chain is to become the default, it will need to be able to handle these transactions.
Again, a fundamental misunderstanding: this time of my point. 402 says "use something to pay us", crypto is only one way to pay.
402 is then obviously obsolete, since it has gained no traction, and crypto has.
I don't really understand where HTTP 402 comes into play when regarding crypto micropayments.
They are complimentary technologies, not in competition.
402 Errors are returned by a website when you need to make a payment for access. Access could be a snail-mailed OAuth token, but crypto now makes this feasible.That's why I'm waiting.
Ahhh. 402 initiates payment, then crypto is used for that payment. Yeah, I see your point now. I guess BIP70 supercedes the HTTP402 in this case
402s been around for a long time, but "Reserved for future use": Already part of the HTTP protocol, and would just take BIP70 on top as a data format. BIP70 is new to me, will read up.
I don't dispute that. Personally I will use what works reliably and securely, whichever becomes commonplace is fine by me, so long as crypto is the underlying asset used for payments
[Bitcoin] could get started in a narrow niche like reward points, donation tokens, currency for a game or micropayments for adult sites.
- Satoshi Nakamoto (RE: Bitcoin V0.1 Released)
I know how the narrative follows: Bitcoin isn't designed for people who earn less than $2/day. BTW, memo posts are small payments.
Bitcoin isn't for people who earn less than $2/day. Lightning Network, is. Maybe a Memo can be made with lightning. Who knows?
>BTC isn't for people who earn less than $2/day
Fixed that for you.
Bitcoin is for everybody :)
LN isn't even ready for the average consumer making $100/day because the UX expectation is high but the delivery is less than satisfactory. Too much risk even for small txs.
