A 1999 article by Nick Szabo is often cited to argue that micropayments don’t work. But with Bitcoin and the Lighting Network, now they do.
This is an opinion editorial by Jared Nusinoff, the founder and CEO of Mash, a Bitcoin- and Lightning-Network-based micropayments platform.
I’m sick and tired of hearing about Nick Szabo’s “Micropayments And Mental Transaction Costs” post from 1999.
When talking about micropayments, there are many doubters and detractors. For them, micropayments is a “dirty word.” They almost always reference the “failed” attempts related to creating a digital currency akin to bitcoin — like the eCash payment system by David Chaum’s Digicash in the ’80’s and ’90s. Yes, it failed. But that’s not about micropayments.
