A lot of people have theorized that micropayments have too much cognitive load to be useful. But prior to Lightning there were almost no systems capable of actually testing this in the real world. Possible that Lightning will prove that theory wrong!https://www.coindesk.com/bitcoins-open-secret-lightning-is-making-better-online-payments-possible/ …
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Replying to @peterktodd
Not so. Boatloads of lightweight systems with payments much smaller than traditional payments have been tested, fielded, and then after a little period of fun invariably failed.
5 replies 2 retweets 24 likes -
Replying to @NickSzabo4
Examples? I'm not aware of anything with near zero overhead like Lightning does. In particular, I'm not aware of any system that could make payments automatically - the most likely way to bypass the cognitive load problem.
2 replies 1 retweet 11 likes -
Replying to @peterktodd @NickSzabo4
While the mental burden of micro-payments may be too high for people, machines no. Streaming money may be optimized against by programmed algorithms ex: for the area under the curve.
1 reply 0 retweets 0 likes
Unless they know the preferences of their users (an extremely hard problem few know they need to solve) this doesn't contribute to useful market pricing. If as is usual vendors control the code it can become a salami-slicing fraud against the users.
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