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Author Topic: Buy Pizza with Bitcoin through Lightning Network  (Read 195 times)
Artemis3
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February 19, 2019, 11:57:57 PM
 #21

And the Pizzas no longer cost 5k bitcoins each! See? Deflation!

Restaurants are a typical case where something like LN can shine, especially for recurring clients. In the mean time these transactions are relieving the main network of load, making everyone's transactions cheaper and faster.

Also the store itself should be running a full node, lightning node and Electrum server in my opinion. technically its not needed,  but why not give your customers a better service? Any old computer with Linux will do...

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February 20, 2019, 12:13:02 AM
 #22

And the Pizzas no longer cost 5k bitcoins each! See? Deflation!

Restaurants are a typical case where something like LN can shine, especially for recurring clients. In the mean time these transactions are relieving the main network of load, making everyone's transactions cheaper and faster.

Also the store itself should be running a full node, lightning node and Electrum server in my opinion. technically its not needed,  but why not give your customers a better service? Any old computer with Linux will do...

DOMINO'S has nothing to do with bitcoin.
its a middle man service called fold. they buy dominos vouchers for cheap.

you pay fold via LN and they use a voucher/giftcard and your home address, and make the order on your behalf

dominos has no clue of the LN involvement or the fold involvement or the indirect bitcoin crypto involvement. all dominos sees is customers delivery address and a paid with giftcard/voucher

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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February 20, 2019, 12:17:10 AM
 #23

I mentioned this somewhere else, while you don't need a LN for this (state channels are enough) it is a super cool mutually beneifcial idea for adoption. Once you have an open state channel, it's always on the back of your mind that you can immediately purchase from that place - so they get repeat customers. In turn, since this is good business, more merchants will want to join in.
Loving this

yet. you can also just buy a domino's giftcard/voucher and cut out the middleman and the current LN issues.

btc->LN->route->fold->giftcard->dominos
btc->giftcard->dominos

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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February 20, 2019, 12:24:24 AM
 #24

This is just insane to know about that we can use cryptos to buy Pizza.
Like it's a dream come true thing as compared to real money people like to use virtual currencies for easy and fast deals.
People already bought pizza with bitcoin years ago just so you know.

We're talking bitcoin lightning transaction here.

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February 20, 2019, 01:33:40 AM
 #25

People residing in United States can now use their Bitcoins (BTC) to purchase Domino’s pizza through Lightning Pizza app.


Read more here: https://www.unblock.news/news/buy-pizza-with-bitcoin-through-lightning-network

This is amazing
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February 20, 2019, 02:49:33 AM
 #26

good if bitcoin can be used as a method of buying pizza, but it must be with the lightning network to support that decision. but I agree more if the pizza outlets provide direct payment media with bitcoin to make it easier and more efficient to buy pizza.

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February 20, 2019, 06:04:57 AM
 #27

This is just the start and most people doesn't see this improvement that bitcoin is getting. Cheaper fees and faster transactions and sooner or later we're going to be able to buy almost everything with bitcoin through Lightning Network.

It's just a matter of time.

whats not said by the OP's link is that the 150 orders taken is based on the fact that 1500 orders tried, but only 150 succeeded, with fold saying the issue was due to lightning. 10% success rate..


Roll Eyes Can you post the link to that information, or do you expect us to accept that to be real because it's you?

Quote

imagine if bitcoin (not LN 12 decimal pegged payments) but the actual bitcoin network(8 decimal tx's) only had 10% success rate


They are actual Bitcoins held in 2 for 2 multi-sig wallets. There are no "pegs".

Plus I believe Lightning's 12 decimal places can increase Bitcoin's utility.

as for a place for learning, i used to spoonfeed people until your buddies come up with their rekt campaigns and social drama to just say "wrong coz franky".. so i then just said "do your own research if you dont wanna learn what i learned.
and now its back to getting spoonfed.
seriously. i know u love wiki or only the first search result of google. but try upping your game.
if you really dont want to read what i write. and think its just fud. atleast DO SOME RESEARCH instead of just proclaiming "wrong coz franky".. as that just maks you sound as bad as doomand and your buddies who lack the info
its also an old outdated social drama tactic that lauda, carlton used to do, but they too learned the hard way.
so it appears they passd the mantle down to you guys. but you seem to have not progress any further then them as you still echo the same sentiments and myth rhetoric.. so its just boring


Because you lost everyone's trust franky1. I believe it's ok to have an opposing opinion, but you know you are not always right, especially in the opinion of big blocks and on-chain scaling. But that's another debate. We can open another topic for that.

Quote

anyway with an easy bit of research taking 10 seconds you would have found
https://www.coindesk.com/pizza-lightning-bitcoin
"The largest barrier to conversion was setting up a new lightning wallet,” Reeves said, adding there were roughly 1,500 orders but only a 10 percent conversion rate because people struggled to use lightning-enabled bitcoin wallets."


I believe you got it out of context, or you're gaslighting again. Cool

The report said,

Quote

"Reeves said Fold currently serves 1,500 monthly users, facilitating roughly 35,000 total bitcoin transactions since launching the first version of the app in 2014. Until now, the largely bootstrapped project was funded by a small seed round from Boost VC. Looking forward, Reeves said the plan is to partner with crypto wallet startups for direct integrations.

“The largest barrier to conversion was setting up a new lightning wallet,” Reeves said, adding there were roughly 1,500 orders but only a 10 percent conversion rate because people struggled to use lightning-enabled bitcoin wallets.

We’ve learned a lesson that in order to grow the lightning ecosystem we not only need the best products, but the best education as well,” Reeves said. “We will incorporate that into our plan going forward.”"


[/quote]

The Lightning Network will improve as the people learn how to use it. The limitations today are not going to be around tomorrow. I have the same opinion that Lightning might become a niche market, but it is too early to say that it's a "broken experiment". There's a lot of room for growth in my opinion.


Quote

real funny part, thats 10% success of those that got as far as making an order. think of the ones that tried but didnt even get that far
and i truly am surprised even when you were given a link to a video of LN devs themselves saying the flaws of their own system months ago, your still trying to play the social drama game of "wrong coz franky"
maybe best you take time to do research like i suggest to your buddies who seem to just want to resort to social drama rebuttles of "cant be assed to research so ill just say wrong and include the name of the poster to poke the bear"


Because you are simply wrong or you lie or you gaslight many many times.

Newbies, you should be questioning and debating everything in the forum, especially when someone says "this is right, or that is wrong". There's always a misinformation campaign going on in the forum.

Quote

...

as for other point
real bitcoins are held on a blockchain and are only 8 decimals which are locked
12 decimal increase utility.. of a token thats pegged


Not pegged. They are actual Bitcoins in a 2 for 2 multi-sig address.

Quote

what you have to try to realise and research is the difference between the 8decimal valued tx used for opening closing. which does broadcast to bitcoins blockchain and the 12 decimal used only within and for LN payments. they have 2 different functions/scripts. they have 2 different token systems. you wont see a 12 decimal tx on the bitcoin blockchain.
so you might want to really understand and research things


It increases utility in the Lightning Network, and therefore increases Bitcoin off-chain transactions, and therefore increases Bitcoin's utility as a whole. Read that again.

Quote

imagine it like a cheque.
is a cheque a true guaranteed payment. or do people rush to get it cleared/settled before proclaiming the IOU is cleared and settled and any funds owed are no longer owed.
if you think that just handing out signed 'payments' not cleared are just as trusted. then realise that cheques are only trusted due to laws and KYC allowing someone to chase the non paying IOU handler shhould a cheque not clear. .. which LN doesnt have that protection (as yet)
if you stil think that you will happily accept un-cleared chques without the laws/kyc. then you ar risking mor then you care to admit

so be careful using LN and definetly dont over promise/over promote it unless you understand it fully


Bad comparison. Or is that your way of gaslighting again. Cool

Bitcoins in Lightning are actual Bitcoins.


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February 20, 2019, 06:14:25 AM
 #28

good if bitcoin can be used as a method of buying pizza, but it must be with the lightning network to support that decision.

merchants can use bitcoin or any other cryptos as a payment gateway with or without lightning networks  . arent you ware that theres  a guy before that buys pizza using his bitcoin ? best part is that lightning network is not invented that time  .

but I agree more if the pizza outlets provide direct payment media with bitcoin to make it easier and more efficient to buy pizza.

direct payment media ? you mean fiat ?  fiats were still more efficient to use because they are direct or instant  . its much faster than lightning networks but i still support btc payments knowing that they are now more better because of the implementation of lightning newtwork
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February 20, 2019, 06:56:30 AM
 #29

People residing in United States can now use their Bitcoins (BTC) to purchase Domino’s pizza through Lightning Pizza app.


Read more here: https://www.unblock.news/news/buy-pizza-with-bitcoin-through-lightning-network

If this is true, then these are extremely good news from adoption point of view.

Basically,  this is the main purpose of any currency (crypto or fiat): buying goods. Or for now, btc is more an asset to store value, not a currency.

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