Daniel Lipshitz [ARCHIVE] on Nostr: 📅 Original date posted:2022-12-01 📝 Original message:HI All I am the CEO of ...
📅 Original date posted:2022-12-01
📝 Original message:HI All
I am the CEO of GAP600. We guarantee zero confirmed Bitcoin and other
crypto transactions, BTC is a primary part of our business. Our guarantee
enables our customers to recognise zero-conf deposits. We reimburse our
clients value of the trx should we get it wrong and a transaction we
confirmed gets double spent.
Should full RBF become default enabled and significantly adopted this would
have a major impact on the capacity to accept zerof confs on mainnet. With
the end result being this use case will be forced to move to a different
chain, with lightning being just another option.
I wanted to share some statistics about how significant this use case is.
GAP600 clients are primarily payment processors and non custodial
liquidity providers; you can see some of our clients on our site
www.gap600.com. There are also merchants who have developed their own tools
so GAP600 statistics are only a subset of the full use case.
I do not know of any wallet, exchange or custodian who accepts zero conf
without having some sort of solution in place. The market seems to be fully
aware of the risks of zero-conf. The opt-RBF seems to be a solution which
gives a clear free choice for actors.
Statistics for consideration as a sample of the zero conf use case -
1. As of end of Nov 2022 - GAP600 has processed i.e responded to circa
15M transactions
2. These transactions have a cumulative value of 2.3B USD value.
3. We currently are seeing circa 1.5M transactions queired per month.
It's a sizable amount of trxs on mainet and we are by no means the full
market of platforms accepting zero-conf. I realise there are other
considerations which BTC has, I would urge you to take into account the
major risk being placed on this significant market share when deciding to
make this feature default enabled and encouraging full adoption.
Thank you for your consideration
Daniel
________________________________
Daniel Lipshitz
GAP600| www.gap600.com
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📝 Original message:HI All
I am the CEO of GAP600. We guarantee zero confirmed Bitcoin and other
crypto transactions, BTC is a primary part of our business. Our guarantee
enables our customers to recognise zero-conf deposits. We reimburse our
clients value of the trx should we get it wrong and a transaction we
confirmed gets double spent.
Should full RBF become default enabled and significantly adopted this would
have a major impact on the capacity to accept zerof confs on mainnet. With
the end result being this use case will be forced to move to a different
chain, with lightning being just another option.
I wanted to share some statistics about how significant this use case is.
GAP600 clients are primarily payment processors and non custodial
liquidity providers; you can see some of our clients on our site
www.gap600.com. There are also merchants who have developed their own tools
so GAP600 statistics are only a subset of the full use case.
I do not know of any wallet, exchange or custodian who accepts zero conf
without having some sort of solution in place. The market seems to be fully
aware of the risks of zero-conf. The opt-RBF seems to be a solution which
gives a clear free choice for actors.
Statistics for consideration as a sample of the zero conf use case -
1. As of end of Nov 2022 - GAP600 has processed i.e responded to circa
15M transactions
2. These transactions have a cumulative value of 2.3B USD value.
3. We currently are seeing circa 1.5M transactions queired per month.
It's a sizable amount of trxs on mainet and we are by no means the full
market of platforms accepting zero-conf. I realise there are other
considerations which BTC has, I would urge you to take into account the
major risk being placed on this significant market share when deciding to
make this feature default enabled and encouraging full adoption.
Thank you for your consideration
Daniel
________________________________
Daniel Lipshitz
GAP600| www.gap600.com
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