1. Batching - you can open channels to your whole family with a single transaction.
2. Good article if we really needed to onboard people fast - https://lightning.engineering/posts/2021-05-26-sidecar-channels/
3. fedimint - https://fedimint.org/ Communities can built their own bubbles.
I don't see this a problem. Even if people pushed the price of on-chain transactions way up, people will be capable to open a channel. A bigger problem I see is, people don't trust themselves and will be looking for custodians, which from time to time will rug their customers. That's why fedimint isn't a bad idea.
Thanks for the article btw... didn't hear about Sidecar channels yet. Will read up on it.
Much appreciated. 👏
1. Batching - you can open channels to your whole family with a single transaction.
2. Good article if we really needed to onboard people fast - https://lightning.engineering/posts/2021-05-26-sidecar-channels/
3. fedimint - https://fedimint.org/ Communities can built their own bubbles.
I don't see this a problem. Even if people pushed the price of on-chain transactions way up, people will be capable to open a channel. A bigger problem I see is, people don't trust themselves and will be looking for custodians, which from time to time will rug their customers. That's why fedimint isn't a bad idea.
The problem isn't LN itself, it's the on and off ramps to/from LN imo. We still need to scale for that.
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Yeah but the problem is much less with the scalability of LN itself but the on- & off ramps TO lightning.
If we assume roughly 5000tx per block we arrive at around 260'000'000 transactions per year.
If we say that each person would make just two off-chain transactions per year (one in, one out of coldstorage) then we could only sustain 130 million people. That fully neglects any other on-chain transaction and transactions needed to run LN (opening, closing, rebalancing).
Due to the recent mempool flooding I've been doing quite some reading and calculating and was interested to hear the opinions of smarter minds on this:
How are we going to scale in the future?
I believe #Lightning is the way forward and I believe using LN for daily activities like the coffee shop and zapping on #Nostr works perfectly. The problem I see is: Even with LN it's not possible for everybody to participate because the on-chain capabilities currently don't allow it unless we fully rely on custodial means and not even then could we meet demand.
My question to smarter minds therefor is:
What scaling options other than blocksize increase exist or are being worked on? Where can I read/learn more? I know that for the demand currently BTC works as it's supposed to and the mempool spamming just proved the system works (e.g. moving bitcoin from the hands of the spammers to miners and back to the hodlers via exchanges) but I was wondering how we're going to deal with it in the future.
Please spare me the "bcash is the real bitcoin" or "CSW was right" because I think neither of them are viable options rn because we just centralise in other parts of the ecosystem (and CSW is a massive fraud).
IMO if we don't scale to the point where we can all transact on LN but still cold store and hold our own keys something went wrong...
So... what are our options?
#bitcoin #plebchain #scaling
Then again… I don’t think I will…
Browser history? Dafuq? 
Just went to check it out… they ask if I have a referral code… if you want see if you can find a code and share it. I’ll wait a little to set it up. Maybe you get a little something…
You can buy visa international virtual gift cards (no KYC) on https://thebitcoincompany.com/ for sats.
So far card is denominated in US$ (transaction fees apply), but apparently card in € is coming soon.
Add the card to your Google Pay (I haven't tried it with apple pay) and you can pay contactless at the store where visa is accepted.
Bought few, works well in Europe.
Zapped for the great suggestion. I’ll check it out. 👏👏
I was looking into CB card too, but being based in Switzerland that’s currently not an option unfortunately.
Also: is there any card provider also accepting Lightning? I’d prefer salary -> convert to BTC -> cold storage -> when needed fund payment provider via lightning or pay directly via lightning.
I’m fine with deducting fix costs like phone Plan etc directly from bank account but would prefer lightning directly as well.
Yeah I guess that’s alright for me as well. I don’t think there’s a way for me to receive payment from my employer in BTC directly. I’d be ok with moving my money out of that account each month and live off BTC if I find a way to do that though. Hence the question: how do I do that? 😂
Anyone here from Europe living fully on Bitcoin only?
I’d have a few questions…
#plebchain
Does anybody know a coffee shop in Bogotá that accepts BTC via Lightning?
🤔
#plebchain
Hmm… I know a few that fit the description but none from Costa Rica. 😅
Totally forgot to share... we released a new episode last weekend.
Hop on in and we'll take you along to Vegas and Death Valley.
And yes, we've got subs available.. written by yours truly..
#plebchain #grownostr #travel #nostravel #nostrlander
These are the days my friends… these are the days. ❤️
#plebchsin #grownostr #nostravel https://nostr.build/av/c4dde13c869cc1aebe81d3d697ab2bc24302634e8f7095ece00eab02141a3500.mov
This is the way! 😁
Old cars are awesome. 😁✌️ a new one would probably just flat out refuse to start and there’s nothing you could do other than tow to the next mechanic who tells you it’s a faulty sensor, resets it and you are good to go… 🤷♂️
Yeah I thought at first our neutral safety was acting up but I short circuited that before and that wasn’t it. 😅