Jack Mallers just solved a lot of bitcoin's problems

[Anonymous No.17041786]

https://medium.com/@JimmyMow/announcing-strike-by-zap-4f578c7c8984

Today, we are announcing Strike, an application that allows you to make Lightning payments with your bank account or debit card. Using Strike requires the following: a debit card or bank account. That’s it; no wallet, no node, no channels, no swaps, no liquidity management, no anything. It’s an application, sitting on top of our infrastructure piece Olympus, designed to usher in an era of Bitcoin that we believe has the best shot of achieving our mainstream hopes and desires.

Bank accounts and debit cards can now speak to nodes all over the world, and nodes all over the world can now speak to bank accounts and debit cards. The possibilities are endless and the sky is the limit.

Can Strike be used to buy bitcoin? Sure, create an invoice from your existing wallet and pay it. After completion, you’ll have less fiat in Strike and more bitcoin in your wallet.

Can Strike be used to sell bitcoin? Sure, create a request in Strike and send to it from your wallet. After completion, you’ll have more fiat in Strike and less bitcoin in your wallet.

Can Strike be used for remittance payments? Yes, of course, it can. Just scan the QR code and click pay.

Can Strike be used for internet tipping? Yes, of course, it can. Just scan the QR code and click pay.

Is Strike another custodial wallet? No, not at all. It owns nobody’s coins and nobody’s keys. If BTC is hacked and stolen, it’s my BTC and I’m fucked, nobody else. That’s the way it should be. In a weird way, it’s a beautiful and innovative hybrid.

The possibilities are endless. What about Twitch streamers and content creators? Content creators can set up a Strike donation page and every time someone donates BTC, they get fiat in their bank account (or whatever custom fiat:BTC ratio they’d like). Magic.

[Anonymous No.17041805]

Lightning doesn't scale, next

[Anonymous No.17041844]

>>17041786
Nobody cares about BTC anymore, desu. UND is the new Stratis. Look into it this week, or be pissed later. That is all. BRAP.

[Anonymous No.17041866]

>>17041805
running a lightning node isn't as easy as running a bitcoin node
there are different trade offs

if we're thinking about hard money we want users to take that feature into their own hands and secure large amounts
if we're thinking about a payments network it's more complicated and if you want full control over everything you need to understand it and the learning curve is much steeper

this solution can bring mainstream adoption to bitcoin just by using the programmable features
then the end users can decide if they want to hold 0-100% in bitcoin or fiat
it's loaded with features with more to come that'll bring bitcoin mainstream

bitcoin already has the correct monetary policy, and now it's becoming appealing to the end user to save money

merchants will give a discount for using this service because it's cheaper, faster, and removes risk of back charges
it also gives the option to keep the bitcoin for savings or hedge in fiat for volatility risk and keeping the business operational

so depending on what specific plan as a user, investor, merchant, etc. you have this app can give you that feature

[Anonymous No.17041889]

it's the easy user experience bridge we've been waiting for
this is a big deal

[Anonymous No.17041981]

>>17041866

"If you have 0.1 BTC in the Lightning Network and it costs 0.2 BTC to settle it, do you really have Bitcoin?"

[Anonymous No.17041989]

>>17041786
This isn't released is it?

[Anonymous No.17041995]

>>17041981
.2 BTC transaction fee is more than the average total transaction fees for the entire block!
what kind of argument is this kek

[Anonymous No.17042005]

>>17041989
they're doing a slow release
you can get in the beta now, but it's limited who can join
it'll open up more invites every week for the next 12 weeks until they're confident in a full release

it's developed and people are using it right now
they're just being cautious and doing a controlled on boarding process

[Anonymous No.17042008]

>>17041786
>connect your bitcoin to your bank account!
>you just need a debit card!

lmfao. This is what Bitcoin has come to. Pathetic shit

[Anonymous No.17042023]

>>17041995

You talk like a sycophantic fool who buys into these silicon valley marketing campaigns and is allergic to real substance

[Anonymous No.17042025]

>>17042005
Hmm, I think I'll stick to Bitcoin.com wallet for onboarding newbies until this is released and proven easy to use.

[Anonymous No.17042044]

>>17042008
this is for people who don't have any bitcoin and for merchants who don't want to take the volatility risk
this takes the technical advantages of lightning network without anyone needing to even understand bitcoin
it's like how internet used to be through the phone line
bitcoin is being used to optimize the fiat payment networks while giving users and merchants the option of owning bitcoin
so it's saving people money who already use fiat merchants and users while solving all the hurdles of interacting with the lightning network

[Anonymous No.17042052]

>>17042023
how can you argue some hypothetical scenario that is so retarded and unlikely?

[Anonymous No.17042056]

>>17042025
I'll post updates when I use the beta
but bitcoin.com is really scummy you should look into alternatives

[Anonymous No.17042068]

>>17041786
so basically its robinhood for bitcoin

[Anonymous No.17042069]

>>17042008
Oh yeah, wait that's built into bitcoin.com wallet already. This isn't going to help pour petrol on adoption at all. I really want lightning to work, but for now, Bitcoin Cash is the peer to peer electronic cash.

[Anonymous No.17042085]

>>17042069
but bitcoin cash fails to maintain the properties of a decentralized network so they can never be compared to bitcoin
bitcoin has both now it just took like 2 years of development

[Anonymous No.17042088]

>>17042044
>>17042052

None of that shit matters you imbecile. The future of Bitcoin is earning/collecting and creating entirely novel applications on chain. Lightning tokens can't do that because lightning has none of the properties that make Bitcoin interesting or desirable

[Anonymous No.17042090]

>>17042069
oh you're saying this feature could be done on other blockchains
let me think about this

[Anonymous No.17042093]

>>17042088
lightning is multisig bitcoin if you can't understand this first lesson of how the network works you can't comment on what can be done on it

[Anonymous No.17042112]

>>17041786
>Another centralized crap on top of a shitty layer

[Anonymous No.17042132]

>>17042069
ok the reason why this makes more sense is that eventually developers know these bloatchains will fail
the increasing complexity and hardware requirements put those coins in a place of if they ever do gain adoption they run into problems scaling problems

so bitcoin held blocksize limits to not have that problem but everyone complained you can't appeal to the electronic cash demographic

the way lightning distributes the required resources to move transactions it scales and never puts the fundamentals of the coin in jeopardy

so the reason this makes more sense than other coins is that it'll offer a reasonable guarantee it won't break when mainstream user adoption occurs
but I'll think about it more and see if I can come up with something else

[Anonymous No.17042142]

>>17042093

Nope I get it, it's not Bitcoin though

"If you have 0.1 BTC in the Lightning Network and it costs 0.2 BTC to settle it, do you really have Bitcoin?"

[Anonymous No.17042154]

>>17042112
the targeted user is some normie fuck consumer who doesn't understand bitcoin and some merchant who does
it's how we suck resources out of fiat consooomers and operate a bitcoin business
users are already on a centralized service of fiat and this bridges them to us

[Anonymous No.17042200]

you're using unrealistic numbers
>if it costs a million dollars to buy a car can you even travel freely

you are so low iq that when people like you make decisions it looks like pic related

[Anonymous No.17042240]

>>17042132
But from my point of view as a salesman out in the real world trying to get real people to use Bitcoin, lightning is bloatware becuase it adds another layer of complexity for users to wrap their heads around. Pure Bitcoin is already hard enough, but having to juggle channels and lightning tokens, makes useablity much much harder. Consider that if it takes me more than 30 seconds to give someone a basic understanding then I will very likely lose that new user; their attention span doesn't last that long. Even if they are a smart tech guy. This is what I was hoping this app might overcome, but still there is alot of explaining to do with lightning because it is much much more complicated. Even with a very basic Bitcoin like BCH it's hard to get them to understand enough so they can use it and back up their keys.
Bitcoin Cash can scale to 32 megabytes with no sweat at all, and that level of transaction volume will be greater than PayPal is. Let's get Bitcoin ecosystem to there first, then we can see about adding lightning to BCH, because it is just a layer 2 which could be added to any coin in theory.

[Anonymous No.17042312]

>>17042240
>becuase it adds another layer of complexity for users to wrap their heads around.
this application solves this problem for the users but they're not holding bitcoin just using it
major criticisms of bitcoin are nobody will use it because volatility, technical knowledge, etc.
this app can have end users who don't even know what bitcoin is and users who run everything themselves

the average person just wants a app that's compatible with things they use
the bitcoin investors want to have the decentralized properties but also they users
it's just a step on the tech tree of bitcoin that offers other currency users incentive to join our currency network instead

this doesn't solve all the problems and certain criticisms of bitcoin are still valid, but what they have going here is substantial in my opinion

[Anonymous No.17042332]

This is related to something Andreas said the immersion inversion
this app immerses newcomers into bitcoin with no friction and eventually when that economic power is on bitcoin all the services inverse into bitcoin services
it's all a stepping stone similar to how phone lines had internet and now internet has phone
fiats can't compete because bitcoin's technology is exponential so this is how it's going to work

[Anonymous No.17042358]

Don't waste your time op. Seems like everyone here is too retarded to realize how huge this is. This implications of this product are insane and I would not be surprised to see Mallers end up fighting legal issues over this by facilitating payments for drugs and all kinds of shit. Bitcoin has now completely bled into the normie banking system and this will onboard the next wave of users, anybody that wants to do anything slightly shady or private online can now do it without needing to understand anything about Bitcoin, seed words, wallets, exchanges, or capital gains tax. User interface literally just took a 5 year leap forward today and biz doesn't even care. These kinds of products are unironically going to be the fuel for the next bullrun that every shitcoin will leech off of even though none of them pay their respects to big daddy btc driving the whole damn space forward.

[Anonymous No.17042483]

>>17042358
I think people who've tried to spread bitcoin adoption think how do I do this without looking like an asshole and this app is it
the level of knowledge it takes to motivate you enough to run nodes is too much for the majority of the economy
this is the crack that breaks the dam

[Anonymous No.17042526]

Hahaha does no one see the irony in this? This is a huge step backwards.

[Anonymous No.17042544]

>>17042358
Well, then we are fucked cause this is not a technology that is going to help the world in ANY way.

[Anonymous No.17042550]

this app is such a great technical solution that it doesn't require bitcoin price volatility to get people interested
it solves tons of problems more efficiently like credit card processor fees and chargebacks so merchants will naturally offer a discount for using it
this property is a multiplier for price speculators because bitcoin needs an economy
the propulsion this is creating will devastate traditional currencies at a much faster rate than I originally thought

[Anonymous No.17042561]

>>17042526
how is adding a whole new way of interacting with bitcoin a step backwards
there wasn't a place to put this resource before and now it has a place that beats traditional systems
read the article I posted please this is a hybrid application

[Anonymous No.17042566]

The thing about LN is that sure its a cool and new technology. It's not bad technology, it just goes against so much of what bitcoin is, and it will not help the world in any way.

[Anonymous No.17042594]

>>17042566
>it will not help the world in any way.
bitcoin is inherently associated with the cypherpunk movement
the autism of the community maintained bitcoin for what it is and caused coinbase, bitpay, bitmain, etc. to hate bitcoin when it was bitcoin that made them what they are
so they supported shitcoins and forks and lost a lot of money
bitcoin is still bitcoin and getting even more bitcoin with the new privacy and contract upgrades in the schnorr taproot bip

I think the frame of reference you're looking at this project in is different than the frame of reference a normie consumer has
I would rather have a normie consumer using the lightning network through this app and saving money and giving bitcoin merchants sales than not using it at all

[Anonymous No.17042613]

if you're still caught up on the small blocks argument think of this
bcash/eth/monero doesn't have a blocksize limit so their nodes can't be run through tor and obviously become increasingly hard to maintain

this is the best method right here

[Anonymous No.17042640]

>>17042594
I believe in Satoshis Vision sir

[Anonymous No.17042651]

>>17042550
Thanks OP, I've been predicting that a brain dead wallet will facilitate the next bull run. It won't cause it, but allow it to go to greater heights than before.
The dashboard even denominates it in mBTC so something like that can even spark new interest...
Some other anon mentioned civic custodial wallet as well. Anything brain dead and simple for people to use is best. All the pipes and glues / the infrastructure is being set up now to allow the herd in.
The good thing is this app might convince at least some of the retail payments / cup of coffee nerds into the fold too.

[Anonymous No.17042657]

>>17042358
oh right the fiat exchange i use already uses Plaid to connect to my bank account to fund instantly with no fees... something like Strike is the next logical step.

[Anonymous No.17042668]

its request network for lightning
Kek

[Anonymous No.17042678]

like another poster mentioned this opens bitcoin up to the masses

I would never do this but..
a darknet market can now accept debit from any bank account
drug users don't give a shit they'll give up KYC but dealers who don't get caught won't use those services

this is the type of bridge this app creates
I gave an extreme example just to show how powerful it is

[Anonymous No.17042693]

>>17042678
Bad example considering darknet markets was one of the thing bitcoin was made to expose

[Anonymous No.17042714]

>>17042693
this app makes your fiat more fungible without you needing to take any time to understand how or why

[Anonymous No.17042725]

>>17042678
I fear for Mallers, its one thing for someone to buy btc and then use it for a drug purchase, but now normies can send fiat directly and get drugs because Jack acts as a middleman and buys the btc. It bleeds into the traditional banking system just enough that I think it is highly likely he faces a bunch of bullshit charges for facilitating drug trade, money laundering, you name it.

[Anonymous No.17042760]

This Bitcoin application makes your fiat more fungible while indoctrinating you into bitcoin

The atmosphere of a free market is too great to pass on
it's hard to fud bitcoin when people's economic stake, their business their budget their sales, is relying on bitcoin's infrastructure

try to stop this service when we get 100,000 merchants on it and they need it to maintain profitability
this isn't just 1 app either because Jack Mallers is a boss
his philosophy form another article
>The first thing to do with such a service is to implement it into our already well-distributed Lightning wallet. All of our wallets are open source, and my intention is that the implementation of the fiat ramps into our own wallets can be used as a reference for others.

this is a fucking tidal wave

[Anonymous No.17042778]

>>17042725
they kyc with the bank and jack is just providing a service like coinbase
jack isn't going to protect anyone who does use this to buy drugs so I don't think he will have any responsibility
it's the drug dealers and ross ulbrichts you have to catch
jack wouldn't pull a charlie shrem and facilitate a drug sale directly

[Anonymous No.17042786]

mallers has a team of lawyers to protect him
>To CMT Digital, thank you. The layered legal, market, trading, and engineering complexity baked into pulling this off is hard to fathom. Colleen and everyone over at CMT are angels, not only for Zap but for bitcoin. They’ve been pushing market maturity by supporting things like Bakkt and are now committed to helping Lightning grow and succeed as well.

[Anonymous No.17042800]

>>17042526

Bingo

Someone gets it

[Anonymous No.17043314]

>>17042760
Go shill your shit elsewhere. BTC will never replace fiat with the sort of volatility we have right now. Normies are not going to use something that can lose or gain 10% a day. Not to mention thaat this goes agains the decentralized idea behind btc.

[Anonymous No.17043370]

>>17043314
>with the sort of volatility we have right now.
read the article you brainlet it addresses this
you can automatically have a payment go from customers bank >lightning > POS system > bank
all under the hood of this app
so it takes advantage lightning network to route payments faster and cheaper than a traditional POS system
Neither party needs to take any risk in holding bitcoin
the receiver can decide what ratio he wants and the customer can pay in bitcoin or fiat

[Anonymous No.17043407]

and what you niggers don't understand is that this gives the bitcoin economy velocity
there will be incentive to provide liquidity in the lightning network and earn routing fees
this is what Nik Bhatia talks about with the LNRR
https://medium.com/@timevalueofbtc/the-time-value-of-bitcoin-and-lnrr-e0c435931bd8

looks like this thread is dead I'm out

[Anonymous No.17043418]

Craig Wright solved all the bitcoin problems.

[Anonymous No.17043481]

>>17043407

Hi O1G

[Anonymous No.17043489]

>>17041786
> strike
kek looking forward to the lawsuit by stripe

[Anonymous No.17043695]

Lightning is a flaky permissioned nostro vostro banking layer.

[Anonymous No.17043726]

>>17041786
Except the whole point of bitcoin was to destroy the banks

[Anonymous No.17043732]

>>17042132
LN is the bloatware.
A second layer brings a shitton of security issues and make it much more complex to integrate anything.

Noone gives a shit about disk space btw, PewDiePie youtube channel takes like 1 millions time more storage and bandwith than Bitcoin.

[Anonymous No.17043734]

>>17042678
Imagine thinking the u.s will allow this shit

[Anonymous No.17043773]

>>17041786
he's a cool guy desu and its nice to see non-retards building on btc/lightning for once, but i wouldn't be surprised if the blockstream kikes make it difficult for his shit to get off the ground.

[Anonymous No.17043782]

>>17043732
That's the point you stupid fuck
Put the bloat on lightning keep bitcoin pure
Pewdiepie's youtube channel is less free than my bank account this isn't a realistic comparison

[Anonymous No.17043818]

>>17042069
usdt is the real bch

[Anonymous No.17043857]

>>17043782
>Blockstream cum guzzlers keep Bitcoin "pure" by making it unusable and force everyone to use their dogshit second layer solution that doesn't even work half of the time
Neck yourself

[Anonymous No.17043911]

>>17041786
cool thing but he better starts to dilate right now to avoid anal injuries with his cellmate

[Anonymous No.17043921]

>>17041786
I've reported jack mallers to the sec and fbi. Tell him to him to have fun with his cellmate ross

[Anonymous No.17043973]

>>17042044
oh i get it....rent seeking

[Anonymous No.17043978]

>>17042008
connect from your bank to LN "hubs"! oh the fucking irony. pathetic indeed...

[Anonymous No.17044015]

>>17042332
i like this. however we just traded one monopolistic industrial entity for another; the same class possessed ownership of the underlying infrastructure. they will help move banking to LN but not btc. although that would be huge.

[Anonymous No.17044252]

>>17044015
the goal of bitcoin is to be decentralized, fair, easy to use and verify, etc. but each of those attributes comes with a cost unless you can develop something novel to make it more efficient like schnorr
if we get the economy into lightning think about how much more resources we will have to achieve our dream
more developers more users more investments
this can be a major breakthrough for bitcoin
the developers aren't malicious they didn't like the tradeoff the NYA presented and the economy agreed with them

[Anonymous No.17044354]

>>17044252
just to be clear. i hold bsv. bitcoin will scale just fine without LN. the battle to be fought isnt over a choice of rail but for freedom from tyranny. without freedom, it doesnt matter how many people are onboarded.

[Anonymous No.17044552]

>>17042760
muh fungible. Shut the fuck up you mouthbreathing fucking faggot. Sick of stupid people like you

[Anonymous No.17044570]

>>17043407
Based and Janniepilled

[Anonymous No.17045351]

>>17042358
Yeah this huge but it’s better if everyone stays retarded I’ll be able to make more money in the long run

[Anonymous No.17045354]

>>17044354
can't use bsv over tor
can't validate transactions without major hardware
>scale just fine, freedom from tyranny
I don't think you get that without being able to validate the system

[Anonymous No.17046126]

>>17043407
Best quality posting in months.

Huge news and great analysis.

See you at the citadel

[Anonymous No.17046463]

This app will give usd more functionality
It mentioned micropayments in dollars over LN so usd will be divisible past 1 cent and able to be sent anywhere in the world
So weird VPNs, remittance payments, whatever over LN
The reciever can either accept bitcoin or have their own service in whatever country they're in
This is all open source so it'll progress fast

[Anonymous No.17046631]

>>17041786
So... it's a bitcoin exchange that accepts credit cards? The rest is just marketing fluff. Why would anybody ever prefer to overpay just to buy bitcoin to instantly transfer it, rather than paying with a card directly?