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Topic: VISA vs Lightning Network - page 4. (Read 880 times)

legendary
Activity: 3080
Merit: 1500
March 05, 2019, 04:29:49 AM
#4
Actually, i've been testing and accepting LN payments on my demo site for quite a while already...
I personally find eclair mobile pretty user friendly. Offcourse, there's still a learning curve that's far bigger if you compare it with visa. Afterall, everybody has seen their grandparents, parents,... using VISA since they were born, so the visa-learning curve started allmost at birth. This offcourse isn't the case with BTC/LN.

It's actually one of the major challenges that is hindering the adoption of cryptos in general. The technical complexities are not very easy to understand for the old age people who are comfortable with old school banking system. I have seen my late Grandfather using hard cold cash for every purchases because he was not comfortable with card payment. So whenever he needed some cash, he used to go to bank, stand in the queue, sign on a slip and get the cash from the counter. That's how he was comfortable with.

But that's the initial hiccups every new technology faces and bitcoin and LN is no exception. Our upcoming generations are using iphones and tabs flawlessly. The 4 year old  daughter of my cousin sister watches Youtube videos like a pro. When we were 4 years old, we didn't even thought of these technologies. Slowly we have learned and adopted that! Same thing will happen with the current generation as well. They will learn and adopt slowly! It will take some time and support from people like us but that's how we will overcome such technical roadblocks! LN is one more step closer to mainstream adoption!
newbie
Activity: 8
Merit: 0
March 05, 2019, 04:25:26 AM
#4
It's business they couldn't just took that.
legendary
Activity: 3514
Merit: 5123
https://merel.mobi => buy facemasks with BTC/LTC
March 05, 2019, 03:52:28 AM
#3
Actually, i've been testing and accepting LN payments on my demo site for quite a while already...
I personally find eclair mobile pretty user friendly. Offcourse, there's still a learning curve that's far bigger if you compare it with visa. Afterall, everybody has seen their grandparents, parents,... using VISA since they were born, so the visa-learning curve started allmost at birth. This offcourse isn't the case with BTC/LN.

Basically, you have to incentivise your clients to:
  • 1) Install a decent desktop wallet on their pc
  • 2) fund their desktop wallet with a couple hundred bucks worth of BTC
  • 3) install a LN client on their mobile phone, create a new address, fund the address with "spending money"
  • 4) open a channel between the client and the store's node, fund it

After these 4 steps, a store can generate a lightning invoice (QR) and let the customer scan and pay straight away... Works flawlessly, but still, i don't see my mother performing these steps...
Also, the fact that you'd have to close the current channel if you wish to open a new one (when you have insufficient funds in your current channel for planned expenses) is a drawback.

You can actually skip step 1, and switch step 2 and 3 (create a LN wallet right away, create a deposit addy and fund it straight from the exchange), but i would discourage anybody to keep a lot of funds on a mobile wallet.

The biggest "drawbacks" would probably be to get somebody to visit an exchange or some other seller to exchange FIAT to BTC...
sr. member
Activity: 770
Merit: 268
March 05, 2019, 03:46:32 AM
#2
ln is already used by some stores. i think if the implementation is user friendly enough, then it is possible ln will be used as an alternative to visa for merchants. it entirely depends on how far the development will go and the demand for such services. if we're being positive here, demand will always be high so it mostly depends on developers to provide the software. i'm quite optimistic there will be more merchant that will use ln if the implementation is secure, fast and friendly enough.
newbie
Activity: 14
Merit: 1
March 05, 2019, 03:42:16 AM
#1
Since the big news of Pompliano's suggestion for Kroger to implement Lighting Network in its stores after announcing that it's Smith's Food & Drug stores won't be accepting VISA cards due to the high fees, it's brought up a lot of discussions of what is next. So many other big companies have stopped accepting Visa and therefore it just makes sense, for lightning network to be the future. What do you guys think, will the process actually go through?

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