Erik/all,

Are you saying that node capacity is the primary technical limiting factor to increasing adoption of bitcoin payments?

UBER & Lyft payments are actually poor examples because they are not regular/monthly and I should not have used them (unless refilling existing accounts, like gift cards). But utility bills would be a much better example of an opportunity for bitcoin payments to compete with existing credit card payment systems because processing timing has the potential to be less urgent.

Sharing UTXOs seems pretty minor compared to lowering transaction costs.

Brad

On 2024-01-01 08:08, Erik Aronesty wrote:

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In the USA, where I am, large businesses like UBER, Lyft, and many major telecom, cable, & electric utilities process huge volumes of regular and irregular credit card payments on a monthly basis. Almost none oft hose transactions are completed in bitcoin.

 

 

Unfortunately block size is not the limiting factor

 

Main chain transactions have to be broadcast and stored on every node in the network which, as you know, cannot scale to the level of Uber payments

 

Lighting and possibly ark are solutions to this problem

 

Both require covenant tech of some kind to scale properly (nonrecursive is fine)

 

Covenant tech (any will do, arguing about which is bike shedding at this point) allows people to share utxos and yet still maintain sovereignty over their assets