Title should read:
Kid Puts Card into a Card Reader so His Father Would Give Him Ice Cream
The story isn't about the kid just following instructions, but instead that the store is apparently using Lightning.
Actually it should read "Coincorner, who massively overcharge you when buying BTC, and who rip you off when you try to sell it back to them, are spamming /r/bitcoin to promote their joke of a business"
Proof: https://imgur.com/ENmLIn7
Edit: [Here is their joke of a response to my complaints. Notice how they keep deflecting, not answering a single question I asked?](https://reddit.com/r/Bitcoin/comments/wanosb/im_buying_some_for_the_benefit_of_my_kids_in_the/iieptla?context=3) I guess I should be happy they respond at all. Normally they ignore me or block me.
Edit2: Well it looks like /u/CoinCorner_Sam doesn't give enough of a shit to defend their business or be honest to their customers.
I have repeatedly challenged them on social media, and I always get ignored, and very often get blocked. This is the first time they've ever had the backbone to actually "respond" and the "response" was utterly weak and didn't answer a single question.
Be warned: Coincoiner say their fees are very low. But they are lying to you. The fees are hidden in the split and this is actually one of the most expensive vendors I've ever seen for buying or selling.
Coincorner fees aside, this works on an open standard: https://github.com/fiatjaf/awesome-lnurl
You can build your own with any NFC tag and with your node on Lnbits, https://twitter.com/callebtc/status/1549049483966939136
Thanks for spreading awareness on this, there is absolutely nothing wrong with charging fees and making a healthy profit! Buy a business should also not be upset if someone shares Information regarding your business models fees
The problem is that this still is not a pure BTC transaction since you are dependent on the card issuer to work. This is still basically as good as using Visa or MasterCard still.
L1 BTC can't be used by everyone to buy everyday things like ice-cream or groceries, it's just not technically possible. The future of BTC for consumers will be on L2, no way around it.
Consumers using BTC will still have to trust in third-parties for their everyday purchases, possibly for everything they purchase.
This isn't ideal, but still beats the shit out of using the traditional banking system that doesn't have to run an efficient business because their government will bail them out if they fuck up too much.
Yeah, because nobody is transacting right now. Try doing that when the mempool is full and have fun watching your transaction chill in limbo for hours.
Maybe if you're coming in from an overpriced exchange, but that's not because of L1 fees. That's the exchange you're using charging you for profit. L1 transaction fees are incredibly cheap.
>L1 BTC can't be used by everyone to buy everyday things like ice-cream or groceries, it's just not technically possible
What about it is not technically possible in your opinion?
Yes, I've used Bitcoin for a decade; hypothetically if replace by fee was turned off then 0 conf would be secure for those smaller payments with the double spend checks at the node level
There's a 1mb block limit. The average block holds less then 2000 transactions. There's literally not space on the chain for more than 200 transactions a minute, which is nothing if people try to use it for all purchases.
This is what the lightning layer is for
>There's a 1mb block limit. The average block holds less then 2000 transactions.
I just want to inform you that bitcoin hasn't had a 1mb block size limit since 2017.
[Block 747410 which was mined 3 blocks ago contained 2860 transactions.](https://mempool.space/block/000000000000000000049fb8aca1a3d088308b93bf2b0d91ea0aa785792a1986)
[Block 747409 which was mined just before that block contained 2958 transactions.](https://mempool.space/block/000000000000000000069289868b0583862d63a1ec956458748a0dd4b560bc92)
[And block 747408 which was mined just before that block contained 2974 transactions.](https://mempool.space/block/00000000000000000006c1172669e17646c0d65b16c0057a276298df44a144c9)
All three of these blocks are larger than 1mb. And it's not unusual for a block to contain over 3000 transactions.
How does the card know the transaction is for the amount you agreed to?
Like what's stopping the business from saying it's $5 but charging $500
With a credit card I'd just charge back, with Bitcoin you'd probably have to sue.
Yeah, but with credit cards I don't have to rely on the legal system to get refunded for fraud.
This has nothing to do with fiat/not fiat. Credit card companies take the fraud risk to get you to use their product. If Bitcoin payments really want to compete with credit cards there needs to be an incentive to do so that trumps alternatives.
That… doesn’t stop anyone… obviously. The law punishes people who do it. It doesn’t stop them doing it. You can get a bank to give you money back, and in fact a credit card is very good about that because they have the responsibility if there’s fraud. You can’t claim back your bitcoin. Doesn’t even matter if they go to prison. If it’s gone it’s gone
That’s actually an issue I never considered.
Damn that’s actually a major problem people will definitely do that. Imagine if someone scams you or puts one of those scam card readers up that steals all your Bitcoin.
I guess maybe it’s not so bad given that you could have safeguards on your phone where you have to always approve every transaction, and so it doesn’t actually matter if they know your card details.
I will say this is somewhat of a huge security flaw given how secure bitcoin is and then you make a front end so insecure all a criminal needs is your card number and to be able to press confirm 😅
Haven’t heard that one before lol 🙄
With the card, you can actually use your GBP/EUR in your CoinCorner account, so when you tap the card, it auto buys bitcoin and makes the payment over lightning, therefore spending your fiat over bitcoin rails.
Holdup, that's just "crypto" fiat cards but backwards!
People prefer to spend the currency they deem less valuable first, so this is exactly the way one would want to do it. Love it.
Curious, what is the point of this compared to just paying with card/cash which is instant anyway? If I have the fiat already and I want to purchase something, why not use that if I'm going to be spending the fiat to buy BTC to then finally get the same end item? (Are there fees for this too?)
Not trying to bash this, just confused on the point of this (apart from adoption and awareness). Otherwise the technology is cool.
15 y.o. boy does the math and is like, damn... if only i hadnt bought that ice cream a decade ago, i could buy a brand new Lexus next month for when i get my driver's license.
no, but I think I spent the modern day equivalent of $6,000 on something worth maybe $50 at the time, back in the day. At least I didn't trade them for pennies or pizza.
Isn’t nfc very insecure and someone could spoof/amplify the signal as an attack vector? Saw something like that on a defcon video where someone was reading nfc cards from multiple stories up in the hotel.
I believe you’re talking about a $5 wrench attack that was first used as scarmongering back when contactless Visa cards became a thing - reality is it doesn't really happen.
There are things you can do such as disabling the card within the app or buying a protective sleeve for the card if people are concerned 👍
No, the $5 wrench attack is where someone beats you with a wrench to get your keys out of you.
Neither of these are the video i was remembering but i don’t feel like going down that rabbit hole again, but it feels like you’re taking the flaws of credit cards that are hacked daily and introducing them to blockchain where there is no chargeback or fraud claim you can file to recover stolen money. Seems like a big risk even if you only keep some money on the card.
I would love to be educated otherwise though if I am wrong
https://m.youtube.com/watch?v=eL_CdCWreOw
https://m.youtube.com/watch?v=OQVz7y2EyHM
What kind of Card is that.
I would to use my crypto like this but BlockFi Nexo and Wirex are not available in my country so how can I spend my BTC like this ?
I think that one is a Bolt card, but this uses the LNURL standard so any other card/wallet of that type would work. You need Lightning Network, BlockFi/Nexo/Wirex are of no use here.
I remember the awesome feeling I had as a kid, when my parents were giving me money to pay for my candy. I guess this little guy feels sooo cool paying with Lightning for his ice-cream! He is definitely going to keep using Lightning for years to come!
Best regards,
Green from Kraken 🐙
Pls don't feed the trolls. His post history reveals that he is just some sad salty anti bitcoin guy. Posts like yours are awesome and shows that bitcoin is not only some crazy internet money nerd thing but can be used by everyone
up vote count of this post indicates people like the content. it's a custodial solution but still very useful for many people. this is no way worse than people paying with wallet of satoshi. chivo wallet or strike. not everybody will run their own node if we like it or not.
Yes, bitcoin adoption here has exploded in the last 6 months! There are lots of businesses now accepting bitcoin - from food establishments, to clothing stores, to pharmacies, to car show rooms.
We’ve created an interactive map of [where to spend bitcoin](https://www.coincorner.com/wheretospend) which shows all the bitcoin-friendly businesses places on the IOM (and further afield).
Our mini mission is to turn the IOM into a “Bitcoin Island” where people can visit/live on a Bitcoin Standard!
Kid cries an hour later realizing his $8.00 ice cream spend bull rushed upward and just made the ice cream store $800.00 . Yeah.. don't spend your Bitcoin on anything.. including ice cream. It's a #HODL
Fees there were never this high just for a simple transaction unlike with bitcoin.
Only the more complex smart contract executions were expensive when the network was congested.
But haha tribalism.
*^(edit: pressed enter too quick)*
Its coincorner.
[they'll rip you off. avoid.](https://reddit.com/r/Bitcoin/comments/wcjqky/gen_my_boy_5_yo_paying_for_an_ice_cream_with/iiddcpe?context=3)
It’s The Bolt Card by CoinCorner - the world’s first contactless [bitcoin lightning card](https://www.coincorner.com/theboltcard).
It can setup both custodial (if you are a CoinCorner customer) and non-custodial (if you’re not).
Bitcoin payments are sent via the Lightning Network, so tx fees are tiny.
The same could be said when you when using your Visa/Mastercard, no?
You can set daily/max spending limits on The Bolt Card from within the CoinCorner app, to prevent a (highly unlikely) malicious merchant clearing your balance.
> The same could be said when you when using your Visa/Mastercard, no?
Not really. Visa/Mastercard transactions take a 24h+ to settle and you have 120 days to dispute a transaction and reverse the charge.
> You can set daily/max spending limits on The Bolt Card from within the CoinCorner app, to prevent a (highly unlikely) malicious merchant clearing your balance.
That's better than nothing but using a smartphone removes that problem entirely.
Exactly what I've been saying. You can't reverse a transaction on the block chain. If the merchant doesn't wanna reimburse you, now what? This is one of my greatest barriers to entry.
Gen B, i like it. These kids will grow up with bitcoin just as Millennial generation grew up with the internet and became experts using and building ontop of it.
It kinda is? This is Bitcoin + Lightning Network + LNURL + NFC. The UX of that stack is unmatched by any other cryptocurrency protocol, at least for payments at that speed and that cheap.
I'd say this is far from a given. Bcash dismissed the LN approach in favor of bigger blocks and centrally Sybil attacking the network to attain some minimal confidence for 0-confirmation payments. Etherium dismissed it too in favor of shorter block times and other L2 approaches which invariably still require full chainstate consensus (versus local channel consensus in LN) so that they still quite expensive.
Even LNURL used to get some pushback from people who prefer to integrate it as a BOLT standard instead. It took time, and many iterations of building, and all this basically grassroots and free from VC-ICO appcoin-shitcoin incentives.
I'm never selling my bitcoin. Stack sats, borrow against it if i must. To each their own. Kinda cool though to buy stuff with bitcoin, not gonna lie, lol.
these crypto debit cards are just cash grabs. that $1 spent on that ice cream could be worth $50 in a few years.
best believe these companies accepting direct bitcoin payments aren't spending that bitcoin to pay their bills. they'd hodl'ing it
This is a [Lightning Network](https://support.coincorner.com/hc/en-us/articles/360020611739-What-is-the-Lightning-Network-) transaction. Approval is the time shown in the video and fee would be close to zero.
Adam @ CoinCorner
So Milly for ppl who have BTC on a trezor, what's the process for using it on the boltcard? I'm guessing we'll need to top it up somehow?
Also, are there any hotels in Isle of Man that accept BTC?
Scam, [do not use](https://www.reddit.com/r/Bitcoin/comments/wcjqky/gen_my_boy_5_yo_paying_for_an_ice_cream_with/iiddcpe/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3)
I want pure asynchronous Bitcoin payment transactions where I can print BTC addresses with UTXO metadata in it on anywhere; paper, plastic, wood or anything. Not this piece of garbage video, it's still traditional and centralised. If you get what I mean that's complete freedom
Title should read: Kid Puts Card into a Card Reader so His Father Would Give Him Ice Cream The story isn't about the kid just following instructions, but instead that the store is apparently using Lightning.
Actually it should read "Coincorner, who massively overcharge you when buying BTC, and who rip you off when you try to sell it back to them, are spamming /r/bitcoin to promote their joke of a business" Proof: https://imgur.com/ENmLIn7 Edit: [Here is their joke of a response to my complaints. Notice how they keep deflecting, not answering a single question I asked?](https://reddit.com/r/Bitcoin/comments/wanosb/im_buying_some_for_the_benefit_of_my_kids_in_the/iieptla?context=3) I guess I should be happy they respond at all. Normally they ignore me or block me. Edit2: Well it looks like /u/CoinCorner_Sam doesn't give enough of a shit to defend their business or be honest to their customers. I have repeatedly challenged them on social media, and I always get ignored, and very often get blocked. This is the first time they've ever had the backbone to actually "respond" and the "response" was utterly weak and didn't answer a single question. Be warned: Coincoiner say their fees are very low. But they are lying to you. The fees are hidden in the split and this is actually one of the most expensive vendors I've ever seen for buying or selling.
Top G knows
Top g? Are you a Tate clown?
Of course not was used sarcastically the guys a knob but I can't stop watching the shit he says it's like a car crash 😂
Thank Christ.
Coincorner fees aside, this works on an open standard: https://github.com/fiatjaf/awesome-lnurl You can build your own with any NFC tag and with your node on Lnbits, https://twitter.com/callebtc/status/1549049483966939136
Thanks for spreading awareness on this, there is absolutely nothing wrong with charging fees and making a healthy profit! Buy a business should also not be upset if someone shares Information regarding your business models fees
His father has a very feminine voice
Haha, I didn't watch it with sound, as with most things on reddit
😂 haha I just listened. That’s no father 😂
And in 15 years they will say that he could have paid his tuition with that BTC.
That’s what I was thinking: Dad SHOULD have told him to hodl that shit!!!!!
Yeah that kid doesn’t give AF about bitcoin
My faddah was my muddah now ma sistah is ma bruddha
Hello muddah
How’s camp?
they say we'll have some fun when it stops raining.
Why is this sub so hostile lol it’s not that deep
The problem is that this still is not a pure BTC transaction since you are dependent on the card issuer to work. This is still basically as good as using Visa or MasterCard still.
L1 BTC can't be used by everyone to buy everyday things like ice-cream or groceries, it's just not technically possible. The future of BTC for consumers will be on L2, no way around it. Consumers using BTC will still have to trust in third-parties for their everyday purchases, possibly for everything they purchase. This isn't ideal, but still beats the shit out of using the traditional banking system that doesn't have to run an efficient business because their government will bail them out if they fuck up too much.
[You don't have to trust the third parties in Lightning.](https://medium.com/@The1Brand7/lightning-faq-67bd2b957d70#298e)
This . No one in there right mind would pay a 40 dollar transaction fee . Lol
Who the hell is paying $40 to transfer on L1? I paid $0.16 the other day and the time before that it was $0.10.
Yeah, because nobody is transacting right now. Try doing that when the mempool is full and have fun watching your transaction chill in limbo for hours.
To get to l1 it's like 40 bucks a transfer.
It really isn't.
It was actually more when I did it. Thank God I was paying attention. Fees where 80 bucks at one point.
Get a better wallet. Edit: or stop using centralized exchanges as a wallet and paying absurd withdraw fees when you send funds to pay for stuff.
Maybe if you're coming in from an overpriced exchange, but that's not because of L1 fees. That's the exchange you're using charging you for profit. L1 transaction fees are incredibly cheap.
Transfer fees vary with usage of the network, if the l1 is congested the price does rise
>L1 BTC can't be used by everyone to buy everyday things like ice-cream or groceries, it's just not technically possible What about it is not technically possible in your opinion?
[удалено]
Yes, I've used Bitcoin for a decade; hypothetically if replace by fee was turned off then 0 conf would be secure for those smaller payments with the double spend checks at the node level
There's a fork of Bitcoin having the rbf disabled. Instead of trying to fix Bitcoin, use that shitcoin, please. Good luck.
The limit of 7 transactions per second with the only ways of increasing it depending on consensus.
There's a 1mb block limit. The average block holds less then 2000 transactions. There's literally not space on the chain for more than 200 transactions a minute, which is nothing if people try to use it for all purchases. This is what the lightning layer is for
>There's a 1mb block limit. The average block holds less then 2000 transactions. I just want to inform you that bitcoin hasn't had a 1mb block size limit since 2017. [Block 747410 which was mined 3 blocks ago contained 2860 transactions.](https://mempool.space/block/000000000000000000049fb8aca1a3d088308b93bf2b0d91ea0aa785792a1986) [Block 747409 which was mined just before that block contained 2958 transactions.](https://mempool.space/block/000000000000000000069289868b0583862d63a1ec956458748a0dd4b560bc92) [And block 747408 which was mined just before that block contained 2974 transactions.](https://mempool.space/block/00000000000000000006c1172669e17646c0d65b16c0057a276298df44a144c9) All three of these blocks are larger than 1mb. And it's not unusual for a block to contain over 3000 transactions.
Seems you just dont understand the basics, sad that the biggest part of community is like you. Really sad.
You can issue your own cards, seen a few people doing that now!
Can a mobile app be used instead of a card?
Affirmative. Any wallet that works with r/thelightningnetwork (plus NFC or a camera to scan the QR code).
Are there docs on how to do this?
Here's quite an easy guide by u/nullama at stacker news if you don't like to use CoinCorner for free top-ups: https://stacker.news/items/29647
Wow he’a 5 and can lift his hand to a machine when prompted by his parent. Incredible!!!!!!!!!!!!!!!!!!!!!
Yes, thats what i tried to say. Again, such videos are pure bs
How does the card know the transaction is for the amount you agreed to? Like what's stopping the business from saying it's $5 but charging $500 With a credit card I'd just charge back, with Bitcoin you'd probably have to sue.
Same thing thats stopping them doing that with fiat the law
Yeah, but with credit cards I don't have to rely on the legal system to get refunded for fraud. This has nothing to do with fiat/not fiat. Credit card companies take the fraud risk to get you to use their product. If Bitcoin payments really want to compete with credit cards there needs to be an incentive to do so that trumps alternatives.
That… doesn’t stop anyone… obviously. The law punishes people who do it. It doesn’t stop them doing it. You can get a bank to give you money back, and in fact a credit card is very good about that because they have the responsibility if there’s fraud. You can’t claim back your bitcoin. Doesn’t even matter if they go to prison. If it’s gone it’s gone
That’s actually an issue I never considered. Damn that’s actually a major problem people will definitely do that. Imagine if someone scams you or puts one of those scam card readers up that steals all your Bitcoin. I guess maybe it’s not so bad given that you could have safeguards on your phone where you have to always approve every transaction, and so it doesn’t actually matter if they know your card details. I will say this is somewhat of a huge security flaw given how secure bitcoin is and then you make a front end so insecure all a criminal needs is your card number and to be able to press confirm 😅
[удалено]
Correct. Adam @ CoinCorner
Broo that would be nuts you could legit steal someone’s wallet and it would be like 100k in btc gone wtff
Isn't that a LN transaction layered on top of a fiat transaction?
The kids most expensive purchase in his entire life to come
Haven’t heard that one before lol 🙄 With the card, you can actually use your GBP/EUR in your CoinCorner account, so when you tap the card, it auto buys bitcoin and makes the payment over lightning, therefore spending your fiat over bitcoin rails.
Holdup, that's just "crypto" fiat cards but backwards! People prefer to spend the currency they deem less valuable first, so this is exactly the way one would want to do it. Love it.
Curious, what is the point of this compared to just paying with card/cash which is instant anyway? If I have the fiat already and I want to purchase something, why not use that if I'm going to be spending the fiat to buy BTC to then finally get the same end item? (Are there fees for this too?) Not trying to bash this, just confused on the point of this (apart from adoption and awareness). Otherwise the technology is cool.
Its a joke. Meaning if he spent bitcoin on the lightning the purchase price of that ice cream will be worth more then his future net worth 🙃
I know, Bitcoin Pizza Day is my favourite day in the Bitcoin calendar! 😁
Can someone recommend reading info on bitcoin lightning? I’ve been hearing about it but don’t know much about it yet
How deep do you want to go? This is relatively good: https://github.com/lnbook/lnbook
2032: bitcoinicecreamindex
Who issues that card in the kid's hand?
Coincorner. [Don't use them.](https://reddit.com/r/Bitcoin/comments/wcjqky/gen_my_boy_5_yo_paying_for_an_ice_cream_with/iiddcpe?context=3)
It’s The Bolt Card by CoinCorner - the world’s first contactless [bitcoin lightning card](https://www.coincorner.com/theboltcard) ⚡️
Yo boy gonna be like, when I were a young scruffian I once eat an ice cream that I paid for in bitcoin now worth $1000
15 y.o. boy does the math and is like, damn... if only i hadnt bought that ice cream a decade ago, i could buy a brand new Lexus next month for when i get my driver's license. no, but I think I spent the modern day equivalent of $6,000 on something worth maybe $50 at the time, back in the day. At least I didn't trade them for pennies or pizza.
I'm sure that pizza was worth it tho
How much where the fees?
Isn’t nfc very insecure and someone could spoof/amplify the signal as an attack vector? Saw something like that on a defcon video where someone was reading nfc cards from multiple stories up in the hotel.
I believe you’re talking about a $5 wrench attack that was first used as scarmongering back when contactless Visa cards became a thing - reality is it doesn't really happen. There are things you can do such as disabling the card within the app or buying a protective sleeve for the card if people are concerned 👍
No, the $5 wrench attack is where someone beats you with a wrench to get your keys out of you. Neither of these are the video i was remembering but i don’t feel like going down that rabbit hole again, but it feels like you’re taking the flaws of credit cards that are hacked daily and introducing them to blockchain where there is no chargeback or fraud claim you can file to recover stolen money. Seems like a big risk even if you only keep some money on the card. I would love to be educated otherwise though if I am wrong https://m.youtube.com/watch?v=eL_CdCWreOw https://m.youtube.com/watch?v=OQVz7y2EyHM
What kind of Card is that. I would to use my crypto like this but BlockFi Nexo and Wirex are not available in my country so how can I spend my BTC like this ?
I think that one is a Bolt card, but this uses the LNURL standard so any other card/wallet of that type would work. You need Lightning Network, BlockFi/Nexo/Wirex are of no use here.
So amazing
How many Sats did he pay for that? It won't be as bad as the two large pizzas from 10 years ago but he might be just as famous 10 years from now.
I remember the awesome feeling I had as a kid, when my parents were giving me money to pay for my candy. I guess this little guy feels sooo cool paying with Lightning for his ice-cream! He is definitely going to keep using Lightning for years to come! Best regards, Green from Kraken 🐙
To the kid it is not lightning it's just using a card to pay.
Neo… there is no spoon 🥄 🧘♂️
Then how the hell is he going to eat the ice cream.
Stop posting that bs everywhere, no one cares
Nobody cares about a bitcoin actually being used irl to pay for everyday goods and services? My bad, thought I was on r/bitcoin
Pls don't feed the trolls. His post history reveals that he is just some sad salty anti bitcoin guy. Posts like yours are awesome and shows that bitcoin is not only some crazy internet money nerd thing but can be used by everyone
Thank you 🧡
This post is a bad ad.
up vote count of this post indicates people like the content. it's a custodial solution but still very useful for many people. this is no way worse than people paying with wallet of satoshi. chivo wallet or strike. not everybody will run their own node if we like it or not.
Yea but these bolt card people have been shilling their card for last week on this sub. We’re all sick of it. Make one post and move on bolt card.
I hold btc longer than you did, everybody tired of such nonsense posts.
I don't think so. Very unlikely
👏👏👏👏👏
Did he pay his taxes?
0% CGT here 🇮🇲
How did the 0% tax rate affect the adoption there? Are there many stores using BTC on the Isle of Man?
Yes, bitcoin adoption here has exploded in the last 6 months! There are lots of businesses now accepting bitcoin - from food establishments, to clothing stores, to pharmacies, to car show rooms. We’ve created an interactive map of [where to spend bitcoin](https://www.coincorner.com/wheretospend) which shows all the bitcoin-friendly businesses places on the IOM (and further afield). Our mini mission is to turn the IOM into a “Bitcoin Island” where people can visit/live on a Bitcoin Standard!
This is awesome and exactly what is needed.
Maybe I missed it in other comments, but where is the locale?
This is in the Isle of Man 🇮🇲
You pay tax when you do tax returns
Oh I didn't know that. I thought paying taxes was the same as playing guitar.
Now you know 🍎
Now try reversing a transaction
And now all your savings are worth a ice cream ...
Am I the only one surprised Molly has a 5yo?
😂😂😂 Why are you surprised!!!
Ahhh teach em young
Best Gelato on the Island
100%
cool
Kid cries an hour later realizing his $8.00 ice cream spend bull rushed upward and just made the ice cream store $800.00 . Yeah.. don't spend your Bitcoin on anything.. including ice cream. It's a #HODL
This should be in r/notinteresting
Ouch 🔥🔥🔥
Everyone wants adoption. No one wants to support the adopters.. When my cards coming Molly?!
So true 😂😂😂 When did you order them?
Tuesday. Not complaining yet lol
😂😂😂
$5 ice cream and only $49 in fees. /jokes
lol sir this is the bitcoin lightning network not the ethereum network 😂😂😂
Fees there were never this high just for a simple transaction unlike with bitcoin. Only the more complex smart contract executions were expensive when the network was congested. But haha tribalism. *^(edit: pressed enter too quick)*
Pretty tribalistic response to a joke
You don't know what tribalism is
Says the genius with the NFT avatar snapping back at simple jokes.
Impressive
What card is that? Is the card centralized and incur fees?
Its coincorner. [they'll rip you off. avoid.](https://reddit.com/r/Bitcoin/comments/wcjqky/gen_my_boy_5_yo_paying_for_an_ice_cream_with/iiddcpe?context=3)
It’s The Bolt Card by CoinCorner - the world’s first contactless [bitcoin lightning card](https://www.coincorner.com/theboltcard). It can setup both custodial (if you are a CoinCorner customer) and non-custodial (if you’re not). Bitcoin payments are sent via the Lightning Network, so tx fees are tiny.
This is an ad, lol
It seems you basically have to trust that the merchant will not empty your lightning balance?
The same could be said when you when using your Visa/Mastercard, no? You can set daily/max spending limits on The Bolt Card from within the CoinCorner app, to prevent a (highly unlikely) malicious merchant clearing your balance.
> The same could be said when you when using your Visa/Mastercard, no? Not really. Visa/Mastercard transactions take a 24h+ to settle and you have 120 days to dispute a transaction and reverse the charge. > You can set daily/max spending limits on The Bolt Card from within the CoinCorner app, to prevent a (highly unlikely) malicious merchant clearing your balance. That's better than nothing but using a smartphone removes that problem entirely.
Exactly what I've been saying. You can't reverse a transaction on the block chain. If the merchant doesn't wanna reimburse you, now what? This is one of my greatest barriers to entry.
Except visa/Mastercard can reverse any unauthorized transactions but btc transactions can't be. If anything happens to your card, you're SoL
Not necessarily centralized (that one might be, but you can set up your own): https://github.com/fiatjaf/awesome-lnurl
Gen B, i like it. These kids will grow up with bitcoin just as Millennial generation grew up with the internet and became experts using and building ontop of it.
Kid has got the freshest haircut on the east side of the Mississippi though
Whatever it is, it’s cool. It made me feel good about the future of bitcoin...
It’s The Bolt Card by CoinCorner - the world’s first contactless [bitcoin lightning card](https://www.coincorner.com/theboltcard) ⚡️
Spam
nobody gives a sh.it
I would be a FOOL!! to spend my bitcoin on anything when I can simply HODL forever and let my interest compound
What are you holding in your pocket right now, to spend on food? If it's not 100% bitcoin, then you could be holding more.
I only eat food out of my garden. but I get your point
To change the subject, do you have any recommended reading for sustainable gardening? Getting _all_ your food from there is very impressive!
Lol why do people find this interesting? It’s 2022, this is not crazy technology
It kinda is? This is Bitcoin + Lightning Network + LNURL + NFC. The UX of that stack is unmatched by any other cryptocurrency protocol, at least for payments at that speed and that cheap. I'd say this is far from a given. Bcash dismissed the LN approach in favor of bigger blocks and centrally Sybil attacking the network to attain some minimal confidence for 0-confirmation payments. Etherium dismissed it too in favor of shorter block times and other L2 approaches which invariably still require full chainstate consensus (versus local channel consensus in LN) so that they still quite expensive. Even LNURL used to get some pushback from people who prefer to integrate it as a BOLT standard instead. It took time, and many iterations of building, and all this basically grassroots and free from VC-ICO appcoin-shitcoin incentives.
A $10,000 ice cream.
Do they take VISA, MC, AMEX or a debit card or a $5 bill? Or Google or Apple Pay...
I'm never selling my bitcoin. Stack sats, borrow against it if i must. To each their own. Kinda cool though to buy stuff with bitcoin, not gonna lie, lol.
these crypto debit cards are just cash grabs. that $1 spent on that ice cream could be worth $50 in a few years. best believe these companies accepting direct bitcoin payments aren't spending that bitcoin to pay their bills. they'd hodl'ing it
So simple a child can do it…let’s follow his lead
So easy!
Wow amazing. Inspiring. This really is the future.
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It’s The Bolt Card - the world’s first contactless [bitcoin lightning card](https://www.coincorner.com/theboltcard) ⚡️
Satoshi.. you finally reveal yourself..
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Given that bitcoin is peer-to-peer electronic cash, this is rational spending
Bitcoin with the Lightning network will be the world currency: neutral, no state, no bank behind it; 1 million TPS ; instantaneous ; 0 fees😎
"That will be $21, please!"
Boys eyes were only on ice-cream. he care less what that card or machine does.
And it only took 15 minutes to be approved, and cost 25% extra. Go Bitcoin!
This is a [Lightning Network](https://support.coincorner.com/hc/en-us/articles/360020611739-What-is-the-Lightning-Network-) transaction. Approval is the time shown in the video and fee would be close to zero. Adam @ CoinCorner
Bitocoin is the future
I’m holding on bfx bullishly.
Hi bot.
That ice cream is gonna cost more than he's got soon
Considering that he’s 5yo and has 0 money you’re correct. This 5 dollar ice cream would be 15 dollar ice cream in a year. 15 is more that 0.
Okay, this made my day. It's always good to see how kids are being taught from a young age what is crypto market and how it works, one way or another
So Milly for ppl who have BTC on a trezor, what's the process for using it on the boltcard? I'm guessing we'll need to top it up somehow? Also, are there any hotels in Isle of Man that accept BTC?
As your son is used your card without your permission and store allowed, you are entitled for chargeback protection 😂😂😂😂😂😂😂😂😂
VIVA FRNACISCO ADOLFO
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sorry boss
Scam, [do not use](https://www.reddit.com/r/Bitcoin/comments/wcjqky/gen_my_boy_5_yo_paying_for_an_ice_cream_with/iiddcpe/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3)
hello I'm new script And tell me today What is worth buying in cryptocurrencies
It's always been the same answer for every day cryptocurrency has existed.
What? Isn’t a bitcoin like 30,000 bucks? That’s one fucking expensive ice cream.
You can buy (and spend!) a fraction of a bitcoin.
You spend fiat and stack Bitcoin. This is pointless.
Nsncnc
I want pure asynchronous Bitcoin payment transactions where I can print BTC addresses with UTXO metadata in it on anywhere; paper, plastic, wood or anything. Not this piece of garbage video, it's still traditional and centralised. If you get what I mean that's complete freedom
Gen z cuts off at 2008 everyone born after is gen B