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Square CEO Jack Dorsey Says Bitcoin's Lightning Is Coming To Cash App (coindesk.com)
An anonymous reader shares a report: A bitcoin scaling solution called the lightning network may soon come to Square's Cash App for mobile payments. Twitter and Square CEO Jack Dorsey, an investor in the bitcoin-oriented startup Lightning Labs, recently announced during an interview with podcaster Stephan Livera that there are plans to integrate the scaling technology with Square's mobile app. "It's not an 'if,' it's more of a 'when,' and how do we make sure that we're getting the speed that we need and the efficiency," Dorsey told Livera, adding: "We don't think it stops at buying and selling [bitcoin]. We do want to help make happen the currency aspect."
Boy, if there's anything that says "privacy, reliability, efficiency, and security", it's "Twitter", "Square", and "Bitcoin". Sign me up! I've got money to waste!
I don't respond to AC's.
Bitcoin is all of those. Unfortunately, there's humans involved in the transactions, which is where the flaws reside.
#DeleteFacebook
Bitcoin is private, in the sense that all you know is that address A sent X bitcoins to address B. You don't know who is associated with the addresses.
Bitcoin is reliable and secure, because once the transactions are in the blockchain, nobody can block or revert them*.
Bitcoin is efficient... well, at least it used to be, but it turns out proof-of-work is a terrible idea once you get past the proof-of-concept phase.
* There's always the danger of a 51% attack, but anyone stupid enough to attempt that would destroy the value of their own coins.
#DeleteFacebook