0 sats \ 1 reply \ @haseabamin 8 Dec 2022 \ parent \ on: Lightning Payments API: Instantly integrate Lightning payments into your app bitcoin
Thanks for your feedback @k00b
Let me outline how we're viewing this and hopefully you can air out any flawed assumptions we have.
  1. user X visits business Y and wishes to purchase something (it could be credits, or a single item, doesn't matter)
  2. We would generate a link to a unique checkout page for business Y.
  3. business Y redirects user X to that checkout page (similar to stripe) hosted on our website.
  4. When user X pays invoice, the sats go directly into business Y's custodial wallet (e.g. Bluewallet, WOS, etc.)
lnpay was free when it started too FYI.
From my research, LnPay started charging $99/month (which is very expensive) only a year after starting business, which isn't that long. The intention would be to not monetize this for as long as possible (5-10 years) until the lightning network has matured and has been adopted more widely. At that point, we wouldn't need to charge that much money. We would have so many users that even a small fee would be profitable. I believe this is why Strike.me currently has no cost. And zero fees would be sustained through funding.
Yes, it would be non-custodial.
If I were to clarify what @dillion was saying here, the idea would be that the user will initially have a custodial Bluewallet or WOS, and the payments would go directly to those wallets without ever touching our wallets. We wouldn't hold any private keys, we just would offload that responsibility to another custodial wallet. It would also have the option to be non-custodial if the business decides that it no longer wants to connect with a custodial solution and instead manage a lightning node, but still have invoices sent through us.
I'm not sure how your product differs exactly
The following was what we thought were what made us different than other solutions
  1. 0 fee (no monthly or percentage)
  2. No KYC
  3. No Depositing or Withdrawing developer funds, developers always will directly receive payments to their own wallets.
  4. Targeted to NEW, non enterprise, developers that want to just build lightning apps (unlike RLS)
Let us know your thoughts
write
preview
0 sats \ 0 replies \ @k00b 8 Dec 2022
I'm not the right person to ask for detailed feedback from. I'd only be able to simulate the intended user. I'd reach out to many of the Bolt Fun entrants and see what the pain points of implementing their projects were. Maybe there's overlap.
It sounds interesting, like a wrapper around any lnurl compatible wallet (which is how I assume you'd pay to WOS and Bluewallet). I can see some developers being intimidated by lnurl.
I believe this is why Strike.me currently has no cost
Strike has low costs because they've raised 10's of millions of dollars in venture funding and are sacrificing profits for growth. This is a tradeoff consumer products often make.
You aren't building a consumer app - you are building a b2b app. Stripe wasn't free when it started. I recommend you think more about this.
LnPay started charging $99/month (which is very expensive) only a year after starting business
IIRC Tim didn't only start charging until recently, and launched the service nearly 3 years ago.
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