#Pierre rochard bitcoin free

This network of machine-to-machine payments will all be with Bitcoin’s Lightning Network.Īnti-thesis: It’s unclear why the businesses, which own the machines, would not invoice each other on a monthly basis, instead of continuously streaming payments.

Soon the grocery business itself will automatically be negotiating with self-driving cars providing delivery services. Thesis: The Internet of Things (IoT) means your refrigerator could communicate with several grocery business APIs to negotiate for the best value replenishment. If there are any complaints, it’s from players who feel nickel-and-dimed, which would only be worse with micropayments. Game creators and players currently have no serious issues with in-game purchases. Micropayments will be leveraged by online games, content publishers, and social media tipping services to monetize interactions and consumption.Īnti-thesis: Subscriptions provide a better revenue model for content publishers and social media tipping ignores why people actually engage with each other.

Thesis: Bitcoin’s Lightning network enables instant, high-volume micropayments. Consumers who acquire bitcoins with the intent of making retail payments end up just holding the bitcoins for price appreciation instead. Many countries have already deployed payment systems that are instant with low to zero fees. Credit cards give consumers flexibility in financing their purchases. Off-chain and layer 2 transactions have an up-hill battle against entrenched debit and credit card payment systems. On-chain transactions can not scale without centralizing the Bitcoin network. A “pull” system enables subscriptions which are an important business model. Fast settlement means that merchants require less in working capital.Īnti-thesis: Reversibility increases consumer confidence. Bitcoin’s advantage over credit cards is lower transaction fees, irreversibility which protects the merchant, and a “push” system with no credit card numbers - which protects the consumer. Bitcoin’s advantage over cash and checks is that it is digital, the consumer only needs a smartphone and the retailer does not have to worry about handling cash or depositing checks. Thesis: Bitcoin, whether it’s on-chain, off-chain, or Lightning, will supplant current retail payment methods including cash, checks, and credit cards.

#Pierre rochard bitcoin free

If you disagree with anything written here, feel free to contact me on Twitter or on GitHub. Some of these theses would find ubiquitous usage while others are niche verticals. Investment theses with a short holding period are focused on using bitcoins as a method of payment.