Thinking businesses should wait days to download the Blockchain, run an always online server, acquire inbound liquidity and do chain swaps just to accept $20 lightning payments from 1% of their customers proves we are not serious people
Discussion
100 fucking percent 🤣
🤦🏼♂️
Lightning is cool, but I don't think it's going to be the solution for most merchants. Enter banks, Visa and MasterCard offering a custodial payments network and happily taking their fees from merchants and customers.
It will be the solution but it will be run by large custodians imo
The sentiment of this post and the replies seems to have become pretty much consensus - "sadly LN just isn't practical for every day life". This is just wrong actually; and sadly this goes to confirm the story that was told to outsiders by silicon valley VCs for years to pump their bags : 'bitcoin isn't useful, nobody ever uses it LN is a joke'. In this comment on reddit: https://old.reddit.com/r/lightningnetwork/comments/1fxmokx/when_do_you_think_lightning_will_go_mainstream/lrl42tk/ I give the reality: when bitcoin is not persecuted, LN works and thrives (albeit it remains fairly niche - but that's fine!), and it's a *much* better payment system than you think. The idea that it's not practical for ordinary businesses because they have to balance channels is a perspective that lacks nuance; this is not 2018-2020! It's far easier than you might think, again ABSENT MASSIVE PERSECUTION, to actually use LN in commerce, nowadays.
(Btw in that reddit thread i missed some other uses, like flights ... even $1000 payments are fine on LN nowadays.)
to accept fiat a business needs to register with the state, open a business bank account, and kyc with a payment processor. setting up a lightning node (which you could do with neutrino) or even runnimg phoenixd is much much easier.
Breez and Zeus have solutions for this.
Would you care to point out the Zeus tutorial for that? I set up my LND on Zeus days ago but people are not able to afford to pay invoices yet. I'd love to add Zeus to my WooCommerce site.
businesses wait 1+ days to know their payments gone well, and one day at time they waste approx 70/80 days per year, but cannot wait 3 days for their sovereignty?
and why?
The same reason most people buy ETFs and use Coinbase
doesn't mean WE are not serious people, or I'm misunderstanding your intentions.
maybe the second, I'm writing from bed ready to sleep 😊
patience utxo. I like those ambitions
when the alternative is that they have to accept wheelbarrows full of cash because the easy fiat lost 99.99%, it will seem extremely reasonable.
hopefully we can make it easier for more before it's critical for them
It gonna lie
It’s been a PIA to self custody lightning.
Way easier for bitcoin native.