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lightning onramp to payment UX discussion
1343 sats \ 4 comments \ @usernameisJim 11h lightning
So I recently again experienced first hand a Stripe payment, $70 off fee with Columbus day processing not counting yesterday it's going to take unti possibly Thursday for a business to receive that payment...
Applications like Voltage payments are really cool, but how do we abstract this in a world everyone uses their Debit card?
The onramps now for lightning enabled exchanges are nice, but many mainstream consumers are hesitant to even click the Bitcoin tab in Cash App which requires KYC to be completed, it requires the user to fund the lightning wallet and known when and where to pay with lightning... many are apprehensive to do that still.
This seems like an unsolved UX hurdle not addressed, friction in funding a wallet and paying with it... there are fees when you buy Bitcoin on Cash App for instance or even when a user sells it at 1-3%... Stripe instant payouts is 1% fee (requiring approval from Stripe) in addition to the fee but $25 is still better than $75 for even higher priced consumer products if users are moving money around between wallets (which takes time and is a bit of a hassle)...
Is there some service or application that solves this? If someone wants to build in integrations into browser extensions with me as well feel free to reach out at https://x.com/jimsbr or npub1cj8znuztfqkvq89pl8hceph0svvvqk0qay6nydgk9uyq7fhpfsgsqwrz4u
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298 sats \ 2 replies \ @justin_shocknet 9h
how do we abstract this in a world everyone uses their Debit card?
Wrong hill to die on, Visa and MasterCard are better networks for consumers than Lightning in most cases. There's no UX improvement to be had over a simple database that's already connected to the unit of account.
Is there some service or application that solves this?
Your focused on solving the wrong problem.
browser extensions
Browser extensions are very dumb. Not only are they unable to be distributed where payments actually happen, they additive to friction, not subtractive.
The real problem to solve is in distributing Lightning to the edge-cases where it is actually better, areas where goods and services are extremely low margin races to the bottom and therefore the cost of finality is material. Examples such machine to machine payments like cloud services, privacy when buying smut content, permission-less earning, cross-border, etc etc etc.
Lightning adoption must happen in these areas before it's used for coffee, trying to disrupt plastic is a fool's errand that people have been after since Lightning was invented. We see this in the body trail of consumer wallets and the bastardization of those that remain into fake L2's.
If you want to explore actual solutions for those types of services, making Lightning the money of the web, reducing costs etc, see Lightning.Pub and CLINK
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17 sats \ 1 reply \ @BlokchainB 8h
Was looking at my Mutiny shirt today RIP
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79 sats \ 0 replies \ @justin_shocknet 8h
One of the best product brandings in Bitcoin history for sure, shame they couldn't overcome indirection.
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0 sats \ 0 replies \ @usernameisJim OP 11h
until*
copied wrong npub, this is mine: npub15jnskzcd5tga5rq2w0af0h46tf6lzkdkxjh58hewqrdglt0a0jkq9ygv88
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