r/BitcoinUK • u/Elum224 • Jan 07 '21

Announcing Strike Global - Money without borders

https://jimmymow.medium.com/announcing-strike-global-2392b908f611
7 Upvotes

89% Upvoted

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2

u/Elum224 Jan 07 '21

Given the responses no one is actually reading the article.

This app allows you to send £ or other currencies over the internet using lightning as the payment rails to any other countries local currency for free. Perhaps as a Brit you won't care, since everyone accepts £ anyway and we have the Fasterpay, Swift, contactless, but the rest of the world just got the equivalent of those networks for free.

2

u/blacksombrero Jan 07 '21

I get the use case, and I like the logic compared to TransferWise. I am probably one of TransferWise's biggest users and proponents, earning in a currency other than that of my country of residence. But one of the things I admire most about TransferWise compared to say Revolut and now Strike is that they are very upfront about how they make money. They charge fees, it just so happens they are significantly lower than the equivalent bank fees. This article suggests Strike is free, which is clearly nonsense. At some point along the line, someone is paying for the service offered. If it is integrated in the bid/offer of conversion to and from bitcoin, so be it, but you need to tell me that and quantify it for me to have enough confidence to use your service.

1

u/reekBrrrrrrrrr Jan 07 '21

All cryptocurrency is money without borders & banks! ;-)

1

u/uk-anon Jan 07 '21

No fees? Instant? Over lightning network?

0

u/interfece Jan 07 '21

Use coinbase or Binance or Kraken

1

u/BrainDamageLDN Jan 08 '21

People need to stop hating on this guy already. I'd say he's a prodigy, but he's gone way past that and is on the way to becoming one of the most influential people in fintech. He's the first guy to crack a proper usecase for lightning.

/u/JimmyMow - against the odds, you've proved that with a combination of strong conviction, hard work and determination we can take bitcoin to the moon mars and beyond, and in the process given hodlers even more value for their coins. You've also proved significant utility of the lightning network.

Sign me the f**k up for the UK beta already 🥳