4 ms·

Partially disagree: the Lightning Network [1] facilitates almost instantaneous micro and small transactions which can later settle in aggregate to the Bitcoin b

Partially disagree: the Lightning Network [1] facilitates almost instantaneous micro and small transactions which can later settle in aggregate to the Bitcoin base layer. I've used this to purchase goods both online and in person seamlessly. Custodial solutions (trust another party to hold your funds, like a bank) are turnkey. Right now the truly non-custodial solutions (i.e., run your own lightning node) are definitely in the realm of hacker/tinkerer, but continue to improve in terms of accessibility. [1] https://en.wikipedia.org/wiki/Lightning_Network https://en.wikipedia.org/wiki/Lightning_Network

cycrutchfield 3y ago
Ah yes, the lightning network will save bitcoin. How many years will we hear the same song and dance before we can finally conclude this is a pipe dream?
Seattle3503 3y ago
What do you buy with the lighting network? I've always wanted to try it.
- kdragon 3y ago
  You can use it as currency on stacker.news You can tip people on the nostr protocol. stats are on zaplife.lol you can tip musicians on wavlake there's a Minecraft server called satlantis where it is used as a currency there's a lot of plugins you can use to build your own lightning enabled apps on lnbits the space is still young so a lot of software is beta, but there's plenty to play with check out the plebdev course on udemy if you want to dive into lightning development
  - anonporridge 3y ago
    You can also go to the entire nation state of El Salvador where it is a legal currency and many shops have integrated lightning payments.
    - jawiggins 3y ago
      Can you? I've read a few articles from journalists who went there only to find that vendors refused their payments, or asked for Visa instead. The one from Bloomberg comes to mind: "He tells me surfers sometimes ask if he’ll take Bitcoin. He’s taken it on a few occasions, but the dips in price burned him. “Now I tell them it’s $25 if they want to pay in Bitcoin,” he tells me. “You don’t know when it’s going to go down.” " [1]. That's also to say nothing of the leader of the nation potentially losing millions of public funds day-trading crypto on his phone, the Bitcoin Bonds that no one bought, or the IMF refusing to offer funding to the impoverished nation as a result of this callous fiscal policy. [1]: https://www.bloomberg.com/news/features/2021-06-17/world-s-biggest-bitcoin-experiment-is-a-surf-town-in-el-salvador#xj4y7vzkg https://www.bloomberg.com/news/features/2021-06-17/world-s-b...
- knocte 3y ago
  I pay for flights&hotels in travala.com using lightning. I also refill my phone credit or buy gift cards (e.g. for Uber and whatnot) on BitRefill.com. And I buy cheap stuff in Amazon thanks to Purse.io

cycrutchfield 3y ago

Ah yes, the lightning network will save bitcoin. How many years will we hear the same song and dance before we can finally conclude this is a pipe dream?

Seattle3503 3y ago

What do you buy with the lighting network? I've always wanted to try it.

kdragon 3y ago
You can use it as currency on stacker.news You can tip people on the nostr protocol. stats are on zaplife.lol you can tip musicians on wavlake there's a Minecraft server called satlantis where it is used as a currency there's a lot of plugins you can use to build your own lightning enabled apps on lnbits the space is still young so a lot of software is beta, but there's plenty to play with check out the plebdev course on udemy if you want to dive into lightning development
- anonporridge 3y ago
  You can also go to the entire nation state of El Salvador where it is a legal currency and many shops have integrated lightning payments.
  - jawiggins 3y ago
    Can you? I've read a few articles from journalists who went there only to find that vendors refused their payments, or asked for Visa instead. The one from Bloomberg comes to mind: "He tells me surfers sometimes ask if he’ll take Bitcoin. He’s taken it on a few occasions, but the dips in price burned him. “Now I tell them it’s $25 if they want to pay in Bitcoin,” he tells me. “You don’t know when it’s going to go down.” " [1]. That's also to say nothing of the leader of the nation potentially losing millions of public funds day-trading crypto on his phone, the Bitcoin Bonds that no one bought, or the IMF refusing to offer funding to the impoverished nation as a result of this callous fiscal policy. [1]: https://www.bloomberg.com/news/features/2021-06-17/world-s-biggest-bitcoin-experiment-is-a-surf-town-in-el-salvador#xj4y7vzkg https://www.bloomberg.com/news/features/2021-06-17/world-s-b...
knocte 3y ago
I pay for flights&hotels in travala.com using lightning. I also refill my phone credit or buy gift cards (e.g. for Uber and whatnot) on BitRefill.com. And I buy cheap stuff in Amazon thanks to Purse.io