Cash App just added the lightning network?!

Sarah Azhari

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Quote from: GodsOfSolana on February 17, 2023, 08:24:22 PM

What do you all think?

devil-may-care,
I don't know why I don't really surprising to hear this news. maybe I always follow other news which is great than this.
We know, many companies and institutions were implemented bigger than LN, like bitcoin-self as the main blockchain. I don't know why news like this never comes with great news.

Several days ago I hear about nostr, decentralized social network where many member used it for colaborate LN node and Nostr npub key .

Hispo

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Quote from: n0ne on February 17, 2023, 09:44:11 PM

Quote from: Hispo on February 17, 2023, 08:54:34 PM

For now it is allegedly only available for those who reside in the United States (except those from the State of New York).
I have never used this app, actually, I do not recall ever hearing about it here in my country, but whatever implementation of the second layer which helps people to move their money, it is welcomed.

Already Cash App isn't available all around the world. The service is limited within the United States and United Kingdom. This being a popular application to buy bitcoin makes the addition of lightning network an added feature. Already they've got 1.5% on instant transaction. Maybe this service could come at a better transaction fee. The access to international transaction need to be added and the same might be beneficial with the lightning network.

Ah, that explains why I have never heard about it. Roll Eyes

I wonder if they keep their operations only in USA and UK because of regulations or because they do not think they can contest against giants like Binance or Coinbase.

I personally prefer on-chain transactions when comes to deposits and withdrawals, though.

Despairo

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Quote from: n0ne on February 17, 2023, 09:44:11 PM

Already they've got 1.5% on instant transaction. Maybe this service could come at a better transaction fee. The access to international transaction need to be added and the same might be beneficial with the lightning network.

There's no need Cash App should be available all around the world in order to adopt lighting network, moreover as you said Cash App do ask extra fees and it's a centralized payment provider where it's not good if you plan to hold your Bitcoin for long time. We already have a lot wallets support lightning network e.g. Electrum, Blue wallet, Zap wallet etc and there are a lot exchanges support too [1].

It just a benefit for Cash App if they have a plan to accept countries outside United States, but it's not give huge impact to lightning network adoption. There's also a limit which has been mentioned by above user, no way to use it.

[1] https://github.com/theDavidCoen/LightningExchanges

n0ne

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Quote from: Hispo on February 17, 2023, 08:54:34 PM

For now it is allegedly only available for those who reside in the United States (except those from the State of New York).
I have never used this app, actually, I do not recall ever hearing about it here in my country, but whatever implementation of the second layer which helps people to move their money, it is welcomed.

Already Cash App isn't available all around the world. The service is limited within the United States and United Kingdom. This being a popular application to buy bitcoin makes the addition of lightning network an added feature. Already they've got 1.5% on instant transaction. Maybe this service could come at a better transaction fee. The access to international transaction need to be added and the same might be beneficial with the lightning network.

Hispo

legendary

Activity: 1162

Merit: 2025

Leading Crypto Sports Betting & Casino Platform

For now it is allegedly only available for those who reside in the United States (except those from the State of New York).
I have never used this app, actually, I do not recall ever hearing about it here in my country, but whatever implementation of the second layer which helps people to move their money, it is welcomed.

Pocketchange

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Activity: 44

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25/10/22

https://cointelegraph.com/news/cashapp-adds-support-for-bitcoin-lightning-network

CashApp adds support for Bitcoin Lightning Network
There is a limit of $999 every seven days for BTC transactions on the Lightning Network.

GodsOfSolana

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Topic: Cash App just added the lightning network?! (Read 118 times)