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120 sats \ 6 replies \ @linesgone 26 Jul 2022 \ on: Daily discussion thread
What are everyone's thoughts on the Udi/Eric Wall Twitter space drama going on? I finally listened to (most of, I trailed off with the Q/A at the end) the recording today... while I enjoy Udi's contrariness or openness (depends on your perspective)... I found the entire thing rather ill-informed and one-sided (which I think is the problem most have with it).
https://twitter.com/i/spaces/1LyxBonZQDOKN?s=20
A few take-aways that stood out for me;
- Metamask is NOT a good user experience. It works, barely at times, and the generally tech savvy millennial audience for last year's NFT rush did figure it out, mostly... but I wouldn't call it a shining example of what a self-custody/sign-in/wallet experience should (or will be).
- The NFT rush of last year was something totally different than building experiences, like SN, on Lightning. It is an "apples to oranges" example.
- I do think NFTs have value, not as Monkey JPGs, but as a type of authenticated ownership, we just haven't seen the full realization of them yet.
- Lightning has a ways to go with the UX of it all, but something like BlueWallet or Cash App's LN experience is far more elegant than Metamask.
- Exodus as the top Bitcoin wallet? I was initially surprised to hear that but then once I thought about it it makes alot of sense given all the new users into BTC/crypto and how non-dogmatic they all are. Exodus solves a key problem of "keeping all my crypto" together in one place. Additionally full custodial BTC wallets are a bit of a nightmare to use, look at and interact with (overall UX), regardless of your stance on open-source or not. Exodus used to be very simple and elegant, but with each release they pack more junk into it, that make sense for them as a business but is messy or confusing for a end user ultimately. Strike/Cash App still have the best UX out there for w BTC wallet (again, their "custodialness" aside)
- No mention, at all, about applications built on (or with) LN like SN, Fountain, etc...which I feel like was an obvious avoidance of Udi & Eric (though I bet they would both justify it as "because no one is actually using them").
Honestly, it's really hard to listen to these people speak. The cringe is real. Kudos for getting through it! 🤣
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🎯
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I'm kind of surprised that Lightning isn't used more for payments on sites like BitRefill. It works pretty seamlessly these days. Maybe it's because most major exchanges still don't support Lightning, and users simply haven't been exposed to it? I have no idea why else anyone would use Litecoin for this purpose in 2022.
Be that as it may, Lightning is still the fastest and cheapest payment method to my knowledge, while having very nice privacy properties to boot. Looking at l2fees.info I don't see anything in the Ethereum ecosystem that matches it as a tool for micropayments.
The reality is that the market demand for gambling on NFTs and other unregistered securities is simply much greater than using Bitcoin / "crypto" as an actual payments network. It's distasteful, but it is what it is.
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Lightning is relatively difficult to use, especially non-custodially. Our easiest to use non-custodial wallet (Muun) stores funds on-chain. There's also a huge education gap - we still address Lightning as a separate thing from Bitcoin because it's non-trivial for one to swap Bitcoin on/off Lightning, and thus it's another thing to learn.
very nice privacy properties
Not for receivers - yet.
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One good example of NFT is right here, Stacker using
lnurl-auth is better (waaay better) than most web3 obsolete projects, to verify people with no need of any kind of data. Of course @k00b doesn't put monkeys nor strange creatures to put it in your profile because if you want to buy art, just use...money, IDK, maybe...bitcoin?I agree with you that NFT have future. I can't be certain in what way but most interesting part for me is the authentication part (login in your website) avoiding useless or important data of yourself.
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NFT for authentication... ya, especially into and within virtual worlds. I'm more excited about the possibilities of LN for authentication, sorta how it's used here in SN. The monetary aspect really ads alot to it all.
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