Bitcoin Forum

I own a business. As in I do. I own a plumbing shop.

So plumbers pay me via lightning channel.

1) Ummm, when do I actually get my btc?

2) since I know the answer to #1. I charge 20% more for btc/lightning.

3) Would love answers to this.


You being sold snake oil 2.0.

Don’t think of yourself as a payee. Think of yourself as the biz owner. Lightning? Really? Just sell my store goods for an iou?

It’s an iou until it hits the blockchain. How much it cost to hit the blockchain twice for a sandwich?

Bitcoin is doomed. Please please tell me why it’s not

Bitcoin is not doomed because bitcoin is not destined to be a currency.

Bitcoin is destined to be an asset class, an investment, a store of value. Such a thing doesn't require nearly zero transaction fees or "lightning" fast transactions. Clearing a transaction within a few hours is plenty fast for an asset class and beats the alternative in today's world by 3 days or so, which is how long it takes (at minimum) to turn any investment into cash.

Bitcoin hasn't been suited to be a currency for a long time. A currency can't have a wildly fluctuating valuation, and that characteristic of Bitcoin is years old.

I appreciate you accepting Bitcoin for your business - thank you! You're helping spread the adoption we need. Bitcoin doesn't have to be some foreign thing for people, we just need to do more talking about it among our communities.

I now take everything except bitcoin. Fees became too high.

I guess I’d use it if you are ok with a normal $1 fixture costing $31.

So far no customers have agreed. They spend $1 usd and expect $1 back in value. As of now that doesn’t exist.

Uh oh. This guy doesn't take bitcoin to buy 10 screws at a time. We're doomed.

Why do people think that bitcoins were supposed to be for micro transactions? Where did it say that in the whitepaper? Yeah fees are high. It sucks. That's cuz it's a free market and the people that pay higher get their transactions confirmed first. It'll happen with other currencies when they get this big, or they'll have other major malfunctions when their massive blocks end up screwing them into a centralized coin with very few nodes.

Yes. Now the high become the strongest enemy of bitcoiners.
I prefer to use other cryptocurrency if sending it but for investment i still prefer bitcoin.

Have you used Xapo before? Many people used Xapo as a tool to bypass high transaction fees for micro payments and also for instant transactions. The only time when they went back to the Blockchain, was when they wanted to cash out to Fiat and/or pay some service that was not signed up at Xapo.

The LN is basically the same thing, but it is not a third party service like Xapo. ^smile^