Bitcoin lightning adoption is about to explode. Here's why:
Do you think a corporation would do anything to get an extra 1% return on their next quarterly report? Would they do things that hurt them in the long-term just so this quarter looked good? Make their products worse for a quick buck? Fuck over their long-term employees they spent years training? Skimp on quality and safety? Yes. They absolutely would. Corporations pay 3-5% on credit card fees and wait weeks for settlement. Lightning is <1% and it's instant. It's that simple. That's why #Bitcoin #lightning is going to win in the long run.
It's the same reason the food cart down the street takes venmo: because, at one time, venmo was free. It's not free now though, because it couldn't be sustainably free, because nothing is free, and because venmo has every incentive to suck every dollar of profit out of those transactions it can. They have a captive audience. Lightning doesn't work that way. Liquidity providers, nodes, etc they all have to compete for your payment, so over time, fees get lower, not higher. Venmo isn't growing in adoption any more among merchants, lightning is.
The savings on fees is so significant that merchants can offer a discount to customers equivalent to the customer's normal credit card cash back and the merchant can still save money compared to credit cards. Last time Bitcoin got real hyped and lots of merchant adoption, fees and transaction confirmation times became a limiting factor. That factor is gone now. Cash App, in the US, has 25% market penetration. That's a lightning wallet. When customers realize they can get a 3% discount everywhere just by using it? Game over for credit cards.
If you haven't tried lightning, it's awesome. Instant confirmation, fees <1%, and very decentralized. There were some growing pains, but it's pretty robust now, I use it on a daily basis. It's where the majority of Bitcoin transactions occur, and nostr users alone are using it to send millions of transactions a month.
#bitcoin #lightning
makeasnek
npub12xgs...32x5
Python developer mostly working on blockchain tools and tech stacks to support open science. Let's make a better world together.
If your notes have no proof-of-work, I'm just gonna assume you're a bot. And if they do, I'm gonna assume you're a rich bot. #nostr
#asknostr is there a way to have multiple #zeus wallets on the same phone? Mainly just want to have identity separation for receiving zaps from two separate nostr addresses. Thanks!
#asknostr what is a great on-boarding resource for new users that isn't super heavy about mentioning Bitcoin? How do I get people from "twitter refugee" to "nostr user"
Pretty wild watching the #Bitcoin price react to the news today in realtime


GM NOSTR Tip for #orangepilling: Don't say the word #bitcoin or #crypto, many people have big negative reactions to those words. Say #lightning, people have no idea what lightning is. Tell people how lightning solves their problem, play to their preconceptions, lightning is fast, it's amazing, it's easy. Pretty soon they're like wow this idea is cool. Now that they think it's cool, you can mention that all this lightning stuff happens on Bitcoin, but because it's confronting an idea they already think (lightning sounds cool!), they get way less defensive and combative, and they are inclined to agree with it because otherwise they'd have to admit they were wrong about that lightning thing. You are using their own cognitive bias against them. I have been using this to great effect telling people about #nostr #grownostr
Idea for #nostr, make a NIP to integrate nostr with a lightweight #freenet client and use freenet for media upload/download. Post text to nostr, upload media to freenet. The end result would be a decentralized, censorship-resistant, CDN for all the content you upload to nostr without adding additional burden to existing relays. Thoughts? #asknostr
Can somebody please direct me how to connect my nostr account to zeus (currently on nostrudel but could be convinced to switch). My google-fu is failing. Thank you! #asknostr
#asknostr is this still the case? From the nostr faq "At the moment, self-custodial lightning wallets don’t offer a “static” lightning address or LNURL, the email-address-style receiving address. (Hopefully this will change soon). What this means is that you can use self-custodial wallets to send zaps, but not receive them (yet)."
YK what would be a killer #nostr app? A marketplace. FB marketplace ate craigslist for lunch. Meta is basically universally reviled, yet people have to use marketplace because it's where everybody is. Make a killer marketplace app and people will flock to it. Oh, this app has lightning zaps integrated into it for payment? Wow that's super convenient. Let me try this #bitcoin stuff.