10 random things about the Lightning Network
Been using the Lightning Network to receive and send sats to other users this week. I’m quickly falling in love with it. It’s so much fun! Decided to scroll through Reddit to acquire latest updates about the Lightning Network. Hope you enjoy reading the ten things I have found out
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You can use Bitcoin to buy coke from a vending machine in New Zealand. There are hundreds of such vending machines.
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In Trezor cold wallet, the default option for BTC addresses is the Lightning Network.
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The integration of Taproot into the BTC Lightning Network will allow you to send things other than satoshis like stablecoins. Taproot is a privacy feature that conceals the fact that you ever opened a Lightning Channel if the condition of the channel being closed co-operatively is met.
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Kraken now supports Taproot too, which means withdrawing sats using the Lightning Network will muddy up your on-chain trail. There's a $625,000 IRS bounty for anyone who can crack Lightning privacy. (https://www.interactivecrypto.com/irs-625-000-bounty-for-breaking-monero-and-lightning ) The incorporation of Taproot will make it harder to crack.
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CoinCorner and Bitnob struck up a partnership to make the concept of trans border transactions between the U.K. and Europe to Africa through the Lightning Network a reality. (https://cointelegraph.com/news/bitcoin-lightning-network-to-be-used-in-fiat-transfers-between-eu-and-africa)
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Not neglecting Asia, CoinCoiner worked with Pouch so that Filipinos working in the UK/Europe can remit money over to their loved ones in the Philippines over the Lightning Network. The recipients will end with Philippine peso (PHP) in their local bank accounts.
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Incidentally, CoinCorner released a Bitcoin Lightning Card called The Bolt Card earlier this year. Bitrequest supports this card.
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Similarly, Strike collaborated with local Bitcoin app Bitnob to launch a novel feature called Send Globally, which empowers local people in Nigeria, Kenya and Ghana to receive money from America and instantly swap it to their local currency. This cross-border transaction is made possible via the Lightning Network.
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You can now use the Lightning Network with the Cash app.
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Subway is in the midst of a trial in which 3 of its stores in Germany are accepting payments via the Lightning Network. (https://www.bitcoinlightning.com/subway-trials-lightning-network-payments/)