You know how in personal finance or nutrition they often show 'success stories'?
Why don't we do that with bitcoin? Post up success stories of people who changed their lives by saving with Bitcoin?
@stephanlivera i send money every month to people in Venezuela who depend exclusively on it... we use Localbitcoins for in and out. unfortunately there arent any lightning implementations that we can use to reduce fees and safely get the money there... however even with all the fees, it is still much better than anything else
@RonaldCrb @stephanlivera as in, local bitcoins doesn't support lightning?
@pete @stephanlivera thats right, AFAIK it doesnt
@RonaldCrb @stephanlivera Pity. Transferring Lightning from person to person is really quick and easy though. I don't know much about how local bitcoins works these days. But Lightning's speed may have made the escrow functionality of it a lot less important anyway.
@RonaldCrb @stephanlivera So to be clear people are mainly using bank transfers to send the fiat?
@pete @stephanlivera ok let me clarify a little bit.
Alice in Argentina wants to send a remittance to Bob in Bolivia, Alice goes to localbitcoins, and buys btc using a local bank transfer in argentina... then she goes to localbitcoins/bolivia and finds a seller buyer for her recently purchased bitcoins... this time she gives Bobs Bolivian bank details to the buyer and the operation is performed with the ESCROW function.
@RonaldCrb @stephanlivera Right. But point being, the role of the escrow is to release the BTC after the bank transfer has happened right? And if it doesn't, arbitrate that?
See, if this were a in person cash transaction, Lightning would certainly work: I send you the lightning tx direct to your phone, it confirms pretty much instantly, you give me the cash. (Obviously that has other risks)
@pete @stephanlivera youre correct. thas exactly how it works
@RonaldCrb @stephanlivera Well, what can I say, local bitcoins needs to add lightning support. :)
I actually get kinda annoyed every time I have to pay for something with BTC and I can't use lightning. Like, it works! Make it happen!
(Ok, so admittedly my own OpenTimestamps calendar doesn't have it...)
@RonaldCrb @pete @stephanlivera Did you listen to the TFTC show with jack mallers?
@2140btc @pete @stephanlivera no, but i did listened to this one https://www.youtube.com/watch?v=iSvMVWS9yoA
@RonaldCrb @pete @stephanlivera The TFTC show was good too. May want to give it a listen.
@RonaldCrb @pete @stephanlivera I was using such scheme for money transfers to India and China
@pete @stephanlivera its rather simple, you send btc to your custodial wallet in localbitcoins (this is where localbitcoins takes their cut), then select a trade you want to complete, then you give your bank account to the counterparty and the escrow functionality does the coordination. thats it