Hacker News new | ask | show | jobs
by lukemulks 2489 days ago
https://basicattentiontoken.org/faq/#why-not-bitcoin
2 comments

That explains why they can't use Bitcoin, but it doesn't explain why they can't use USD + a database.
USD does not work in all regions, believe it or not. Moreover it cannot be sent without an intermediary that is heavily licensed and regulated. Contrary to maximalists, we do aim in our Apollo phase for BAT moving on-blockchain with anonymity and low fees. Current blockchains and USD do neither
This explanation shows a painfully shallow understanding of Bitcoin, if not an intentional bias. Bitcoin is capable of doing everything Brave would need, and they've been shown how to accomplish their goals multiple times by numerous disparate parties. I'm increasingly convinced Brave's leadership is opposed to the idea of self-determination, and is playing politics by making up these kinds of excuses.
We built on Bitcoin from 2016 onward, and shut it down in favor of BAT in 2017 fall. Fees in 2017 hit 90% for users doing small buys to goodwill-donate, confirmation times went to days, and we had no moneybags funding grants to users. Drive by maximalists told us to “use LN” or (when reminded it was not usable) “wait for LN”. That solved nothing then and solves nothing much even now.

Most of the 250K creators at https://batgrowth.com/ do not want any crypto, never mind bitcoin. Running an LN node looks like it will require licensing, and in any case LN is effectively custodial in tying up coin. Our model is to pay users, not tie up their coins keeping a few channels open to a relative handful of sites.

Bootstrapping in the face of Metcalfe’s Law is hard enough without obviously bad advice and then ill will from maximalists.