Bitcoin

Out of context: Reply #1935

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  • ESKEMA-2

    But even beeing volatile, it is the best form of money in existence, and is beeing used as the backbone for international settlements.
    Fo example, Strike (https://global.strike.me/) is using Bitcoin and the Lightning network to enable instant payments anywhere, with any currency, which is something that takes weeks or months and lots of fees to accomplish in our current system. How do they do it? When you make a payment in your own currency, Strike in the backend buys bitcoin, sends it via Lightning network across the world to where the recipient is located, sells the bitcoin for the local currency and deposits it in the other side's account. All Instantly and without fees. Neither party needs to touch bitcoin but it's the underlaying technology allowing it to happen. So, even if people don't use bitcoin to buy stuff, it will be used as the settlement layer.

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