Everybody talks about lightning removing payment fees and making visa obsolete. But IMO the possibility to send payments to users is much too underrated.
Paying users small amounts through the fiat system is nearly impossible, everything is constructed for spending.
2 sats \ 1 reply \ @faithandcredit 10 Aug 2022
I mean yes but do we actually know the true cost of LN transactions? To a large degree it seems to be run by enthusiasts who are putting up their own time and money, without expecing much of a return if any. How long you think this can keep up? And will this scale? If not, its possible LN fees will go up alot if adoption increases, but lets see
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0 sats \ 0 replies \ @cryptocoin 11 Aug 2022
Define what "up alot" means to you. Because to me, even if fees on LN went up 5X (or more even), I would still consider that amount of fee paid on LN payments to be of excellent value for the service that I receive.
The LN node operation ecosystem is relatively very young yet. But as Joe Consorti points out, it is one of the few ways to earn yield on bitcoin with only a very low risk. Which means funding / capital will be there. And that brings more participants.
Adoption won't strain the network causing fees to rise, it will instead enable innovation that could not be justified financially just yet (similar to how what is done with bitcoin mining today couldn't have occurred until it grew to being a ten plus billion (annual revenue) industry.)
This article might be worth a read:
The Time Value of Lightning Network
#51343
https://thebitcoinlayer.substack.com/p/the-time-value-of-lightning-network
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1 sat \ 0 replies \ @User21000000 10 Aug 2022
Agree
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0 sats \ 1 reply \ @OneOneSeven 10 Aug 2022
Is there anything stopping video game companies from just offering their microtransactions in bitcoin at a discount?
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0 sats \ 0 replies \ @f321x OP 11 Aug 2022
Technically no. I think Zebedee does gaming stuff with lightning
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0 sats \ 0 replies \ @f321x OP 10 Aug 2022
Imagine clash of clans or GTA with real money. Hasn't really been possible till now because a Credit Card can't receive $0.80 and PayPal is expensive too.
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