Get drunk with Lightning | Bitcointalksearch.org

Wind_FURY

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Quote from: franky1 on June 03, 2019, 06:14:53 PM

Quote from: freedomgo on June 03, 2019, 02:27:45 AM

This will solve the bitcoin scalability issue, hopefully more news will be seen in the future as the market is on its progress.
For those who haven't understand yet how lightning network work, you can watch this video, Bitcoin's Lightning Network, Simply Explained!.

bitcoin has no scalability issue
bitcoin has a developer insisted stiffling limit that hinders scalability

Very disingenuous of you. The Core developers will not give up decentralization for larger transaction throughput. Plus a hard fork to bigger blocks, just to make a minority in the community happy, is risky and dangerous to the network.

Quote

bitcoin has no fee issue
bitcoin has a developer insisted fee war that hinders bitcoin onchain spending opertunity

You're right. Because will evertually support the miners. Don't believe me? Watch Bitcoin Cash ABC and SV's next halvings. How will those networks support their miners with halved block rewards every 4 years, and almost zero fees?

They will need to follow Bitcoin's model if they are to be successful. Cool

deisik

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Quote from: LeGaulois on June 04, 2019, 03:44:02 PM

Let's say the fee is 2%. Since the merchant saves 2% he can say, ok I lower my price by 1% for folks willing to pay with BTC.
Yes lowering 1% isn't a lot but people will be happy to use BTC to pay cheaper. When there is money people listen to, a dollar is a dollar and nobody refuses to save money

I'm not sure if it is economically viable

Given Bitcoin's insane volatility, the merchant would have to set prices in bitcoins allowing for the sudden drops in price (otherwise the price tag for a cup of coffee would be changing like the US national debt counter). But that is way above measly 1% and to the upside at that. Besides, the merchant in question will be accepting crypto directly, and that is a whole can of worms of its own (should he use a third party as a payment processor), which would add to costs as well. In other words, don't expect coffee to be cheap when you pay with bitcoins for it

LeGaulois

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Quote from: deisik on June 02, 2019, 04:22:51 PM

Quote from: LeGaulois on June 02, 2019, 03:09:33 PM

A good point is they don't use a 3rd party for the transactions, they created the app with BTCPay. Usually, the merchants like to use something centralized like Coinbase or BitPay. If you wanna see a video using it https://www.youtube.com/watch?v=udULbc3f9dY
Great to see businesses using LN, I wish to the bar owner a great ROI with this. If the mass adoption has to come though LN, then go LN

I for one wouldn't be overly enthusiastic about this use case

Most certainly, after an initial rage and rush with trying out real-life payments for things like a glass of beer (or a cup of tea if beer is not your thing), people will get back to their deep-rooted practice of keeping bitcoins and spending fiat instead. In other words, LN is not going to help Bitcoin adoption (at least not in a considerable degree). Changing spending habits and consumer preferences would help but that is beyond our control or influence as it basically requires rewiring human brains en masse (and we are not there yet)

Yes true but what about if I can buy my coffee cheaper?
When I pay with my card and a POS terminal, Visa charges a fee to the merchants. I don't remember the % but it's something not negligible for a merchant.

Let's say the fee is 2%. Since the merchant saves 2% he can say, ok I lower my price by 1% for folks willing to pay with BTC.
Yes lowering 1% isn't a lot but people will be happy to use BTC to pay cheaper. When there is money people listen to, a dollar is a dollar and nobody refuses to save money

franky1

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Quote from: freedomgo on June 03, 2019, 02:27:45 AM

This will solve the bitcoin scalability issue, hopefully more news will be seen in the future as the market is on its progress.
For those who haven't understand yet how lightning network work, you can watch this video, Bitcoin's Lightning Network, Simply Explained!.

bitcoin has no scalability issue
bitcoin has a developer insisted stiffling limit that hinders scalability

bitcoin has no fee issue
bitcoin has a developer insisted fee war that hinders bitcoin onchain spending opertunity

jak3

legendary

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OMG, I didn't know that lightning network is very for implementation I thought you are still in the development process. It's good to see that shops can finally embrace the power of digital currency and grow their business without any limits. Great news maybe soon we can see even more Bitcoin adoption.

Naughty Princess

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Quote from: Ibizugbe1 on June 02, 2019, 02:51:23 PM

That is nice for the bar man, although I don't liquor for the sake of my faith in Jesus Christ. I hope customers don't end of buying drink work of $3,000 at a goal and after 5days, the $3,000 turns $6,000. That is part of the magic of the bitcoin though.

It is nice to accept bitcoin as payment in every purchase but you still have option to choose between fiat and crypto. Even me, I do not want to spend bitcoin like that because it takes time to have satoshi, so better to use it in most worth thing or just keep it for investment.

PDAngel

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It's really nice to hear this, I am so happy that this Japanese bar accepting bitcoin for payment and i hope it is a good start to realize people that bitcoin isn't bad as they think instead it will help people to have a convenient life in the future specially to all businesses. Accepting bitcoin lead as to succeed in life.

freedomgo

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This will solve the bitcoin scalability issue, hopefully more news will be seen in the future as the market is on its progress.
For those who haven't understand yet how lightning network work, you can watch this video, Bitcoin's Lightning Network, Simply Explained!.

Kakmakr

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While I am glad to see things like this happening, I am just hesitant to get exited too soon. The Lightning Network acceptance is still in it's infancy stage and this bar might not get the traffic that they expected and it would reflect badly on Bitcoin if it is not supported well.

The " BTC accepted here " logo should get a facelift with a vertical lightning bolt in the middle of the BTC to indicate that Lightning Network payments are accepted too. Wink

acroman08

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Quote from: Shova on June 02, 2019, 12:00:37 PM

A japanese bar has started accepting payments in Bitcoin through Lightning Network.
Awabar Fukouka, a japanese bar with the help of a Bitcoin Lightning Network startup Nayuta is going to accept Bitcoin as a payment for drinks in the bar.

https://www.coindesk.com/japanese-bar-bitcoin-lightning-payments-in-new-usability-test

This is yet another step towards progress to the future of bitcoin and it's uses to the trading and economy.
hearing these kind of news is always pleasant it just proves that bitcoin can be used on a daily basis through
development and innovation that benefits it's users.

Astvile

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Japan is an advance country,and they realize how bitcoin will help people to have a convinient life in the future.
Adoptation of bitcoin in japan is huge they even have laws legalizing accepting of bitcoin on stores.
Huge number of stalls accept bitcoin payment in japan base on what my friend saying who is currently working in japan.

pooya87

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this is what happens when a country accepts bitcoin as a currency (in case you have forgotten, in 2017 Japanese government passed a law recognizing bitcoin as a legal way of payment which was a big part of the reason for rise to $20k).
there are lots of businesses that are accepting bitcoin payment in Japan, specially since there are 0 taxes on bitcoin payments. using Lightning Network was bound to happen on larger scale over in Japan too because of their views (seeing bitcoin as a currency not just an investment).

Chikito

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Quote from: Shova on June 02, 2019, 12:00:37 PM

A japanese bar has started accepting payments in Bitcoin through Lightning Network.
Awabar Fukouka, a japanese bar with the help of a Bitcoin Lightning Network startup Nayuta is going to accept Bitcoin as a payment for drinks in the bar.

https://www.coindesk.com/japanese-bar-bitcoin-lightning-payments-in-new-usability-test

They good for past payment using LN for adopting Bitcoin into them store. Buyer need invoice for payment drink and it can do with LN as a proof for easy one click payment.

Ailmand

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Quote from: Shova on June 02, 2019, 12:00:37 PM

A japanese bar has started accepting payments in Bitcoin through Lightning Network.
Awabar Fukouka, a japanese bar with the help of a Bitcoin Lightning Network startup Nayuta is going to accept Bitcoin as a payment for drinks in the bar.

https://www.coindesk.com/japanese-bar-bitcoin-lightning-payments-in-new-usability-test

This is everyone's dream enjoying services by paying bitcoin. I hope more and more merchants will accept bitcoin. It's not shocking that Japan has adapted bitcoin in their daily activities and even started accepting it as a mode of payment even if they just lately adapted cryptocurrency. Let's hope that bitcoin adaptation will reach this level in a huge scope not just in one country but around the globe.

MakeMoneyBtc

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Even though we are talking just about a small Japanese bar it's always great to see all kind of new merchants accepting Bitcoin. One place to eat here, another place to drink and have fun there,them a place to pay your bills near and that's how Bitcoin adoption is getting closer. I just hope people are going to start using bitcoin for payments and not keep it in their wallets for profit otherwise those merchants will soon stop adding Bitcoin to their payment methods because of the lack of demand.

deisik

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Quote from: LeGaulois on June 02, 2019, 03:09:33 PM

A good point is they don't use a 3rd party for the transactions, they created the app with BTCPay. Usually, the merchants like to use something centralized like Coinbase or BitPay. If you wanna see a video using it https://www.youtube.com/watch?v=udULbc3f9dY
Great to see businesses using LN, I wish to the bar owner a great ROI with this. If the mass adoption has to come though LN, then go LN

I for one wouldn't be overly enthusiastic about this use case

Most certainly, after an initial rage and rush with trying out real-life payments for things like a glass of beer (or a cup of tea if beer is not your thing), people will get back to their deep-rooted practice of keeping bitcoins and spending fiat instead. In other words, LN is not going to help Bitcoin adoption (at least not in a considerable degree). Changing spending habits and consumer preferences would help but that is beyond our control or influence as it basically requires rewiring human brains en masse (and we are not there yet)

Genemind

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I'm glad to sew these kinds of adoptions and acceptance.
It's just surprising that even bars are accepting Bitcoin too.
I'm looking forward to bigger establishments and business to accept Bitcoin as well. I could feel that it's a good beginning and if merchants would be aware of this kind of payment, I'm sure that most of them will accept Bitcoin too.

BitHodler

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Quote from: fiulpro on June 02, 2019, 12:09:36 PM

This growth is amazing , how years pass and technology develop and am glad we all are able to keep up with it.

I'm glad that you point out the growth of acceptance of LN, because most people only pay attention to the growth in the price. Price increases and development don't go well together.

Most of the development takes place in times with little to no positive price movements, which is why I'm happy that the bear market makes people aware of what really matters and keeps the gamblers away for a while.

I'm sure that when we're a year or two away from now and still haven't upgraded to LN, people will skip your site or service, especially with how the main chain fees by that time will be even higher.

mindrust

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Quote from: LeGaulois on June 02, 2019, 03:09:33 PM

A good point is they don't use a 3rd party for the transactions, they created the app with BTCPay. Usually, the merchants like to use something centralized like Coinbase or BitPay. If you wanna see a video using it https://www.youtube.com/watch?v=udULbc3f9dY
Great to see businesses using LN, I wish to the bar owner a great ROI with this. If the mass adoption has to come though LN, then go LN Tongue

BTCpay is definitely gaining traction against Bitpay and that's the best thing could happen to Bitcoin. Bitpay is a backstabbing piece of shit which promotes bcash over Bitcoin and needs to die off. Japan is literally leading the crypto adoption.

hatshepsut93

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Today it's clear that Lightning is the most important crypto thing after Bitcoin itself, in the future most BTC users will probably only interact with it and only have on-chain BTC transactions for opening channels (and maybe some future wallets will even abstract that away from users). Eventually Bitcoin and Lightning will mean the same thing and will be used interchangeably in everyday talk.

Topic: Get drunk with Lightning (Read 420 times)