> The transaction can take hours to clear, you need specific forms of ID to open... | Hacker News

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		WrtCdEvrydy on Feb 8, 2021 \| parent \| context \| favorite \| on: Tesla buys $1.5B in Bitcoin, may accept it as paym... > The transaction can take hours to clear, you need specific forms of ID to open an account, and the fees are insane. This is for exchanges, right? You can have a confirmation with Lightning for like less than 1/100th of a penny and there's no ID requirements for Bitcoin.

vesinisa on Feb 9, 2021 [–]

I wanted to point out how using Bitcoin is in practice at least equally difficult as using Western Union. For any real use case you need to use an exchange, and AFAIK Lightning Network is not yet widely deployed.

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