Lightning network for signature campaign payment?

[rby]

However I haven't see any campaign is paying their participants through lightning network, using native segwit will make the fee is more cheaper, but it's not really the best choice.

The problem is that this proposal will not travel through the time where there was no congestion. To open a channel now still cost high but not as high as compared to the onchain transaction right now.

Again, the huddles to get every campaign participants to involve. A campaign manager sending to 60 campaign participants is not using 2-2 segwit. What will it look like in balancing and rebalancing?

The use of a stable coin is better than random altcoin. Maybe one decentralized stable coin.

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[Apocollapse]

2. Lighting is still quite complicated, I don't even know how it works with multisig wallets like we are using for our campaigns
3. Altcoins are just a new set of problems. You can't even have your campaign set up in service section then

Yeah I tend to agree lightning network looks quite complicated since we're already convenient to use on chain network and I don't expect all users will accept it with the sudden change.

Correct, if the campaign thread is moved to bounty section, it's really worst because there are a lot bot newbie accounts will spamming in your thread and it will reduce to find a good poster since most people only visit the service section.

Don't forget campaign manager usually make payment to all participant in 1 transaction. An output address has size 31 vB in Bitcoin transaction, so with current low priority fees (175 sat/vB based on https://mempool.space/), it costs roughly $3 per participant.

Thanks for clarify, yeah it should be cheaper but I can't calculate it lol.

For desktop, there is really only Electrum and Zap, and although I haven't tried Zap yet, these days, even before the BRC20 spam, creating a channel using an Electrum trampoline is failing every. single. time.

Didn't know there's an issue for creating a channel, it seems migrating to lightning network isn't the most effective solution, anyway thanks for pointing it.

[noorman0]

-snip-
2. For participant: if you have two options to choose, are you prefer to receive your payment in your native segwit address or lightning network address?

Native segwit.
I'm not familiar with LN though (maybe) I've suggested a method somewhere. The only suggestion I would totally agree with is if the manager keeps doing weekly calculations and it's not a problem for me if payments are to be made every few weeks. Just don't want that blockchain spammers to interrupt my weekly DCA.

[KingsDen]

This is a bitcoin problem and bitcoin is the king, solving bitcoin problem with altcoins is a total let down to the king.
If the trusted campaign managers can hold upto 2 weeks weekly pay of the participants in order to enable the mempool to decongest.
Exemption would be people in urgent need of the weekly payment.
Currently, the pool is not as congested as it was yesterday.

[examplens]

This is a bitcoin problem and bitcoin is the king, solving bitcoin problem with altcoins is a total let down to the king.

The irony is that the whole problem was caused by some kind of altcoin, NFT exactly. It's still hard for me to accept that in addition to thousands of altcoins and tokens, there is still a need to bother the Bitcoin chain unnecessarily.

[Darker45]

I actually don't have a problem if the payment is sent to either a native SegWit address or a Lightning network address. But it's because my payment will probably stay there for many months or even years. I guess I could even accept altcoins like LTC if the manager prefers.

But with the Lightning network, it will probably be a problem to many signature participants who have to immediately move their payment somewhere else before converting it to fiat. The company or manager will save on fees, but the burden will be transferred to the participants. I guess that isn't fair.

[Synchronice]

When your favorite T-shirt has strains but you have to go out immediately, what do you do? Either wear a new t-shirt (altcoin for bitcoin) for a while or wear that t-shirt and cover with jacket (Lighting Network for bitcoin).

Or you don't go out at all, and this would be the best analogy cause this is the advice everyone is giving out right now, including with the batching of payments from one week to two or even a full month. 

That's the worst choice to make.

Bitcoin is the store of value, we can look at litecoin like its supporter in terms of transactions.

Why would Bitcoin keep being a store of value when its litecoin doing the things described in Bitcoin's whitepaper?
Because the first paragraph was:

A purely peer-to-peer version of electronic cash would allow online
payments to be sent directly from one party to another without going through a
financial institution

and nothing of a store of value.  So yeah, coming back to your previous question,  and don't forget this is coming from a bitcoin maxi, right now Litecoin is doing better what BTC was supposed to be.

Things change over time, for me, bitcoin is a store of value too because it's the first cryptocurrency, it's the most supported one, the story behind it is very unique, we don't know who actually created it and I personally think that this currency wasn't created for monetary benefits but to frankly solve actual problems that exist in financial system.
But I think that bitcoin wasn't meant to handly massive amounts of transactions and the creator didn't think about the ways blockchain could be flood and that's normal, you can't consider everything. At the moment, you tell me that Litecoin does better what BTC was supposed to do, so, I don't understand, what's wrong if we use it for transaction? You know my reason, why I store value in Bitcoin and why I stick with it.

Just tell me, what's wrong if we use Litecoin for transactions for a while? Do you think Litecoin will attract people and people will abandon Bitcoin? Yeah, you support bitcoin but you need p2p transaction at the same time without spending half of your money in transactions, how should one behave in this situation?

[libert19]

But with the Lightning network, it will probably be a problem to many signature participants who have to immediately move their payment somewhere else before converting it to fiat. The company or manager will save on fees, but the burden will be transferred to the participants. I guess that isn't fair.

I don't think that would be of trouble, there are plenty exchanges [1] supporting LN making it easy to go in/out.

[1] https://github.com/theDavidCoen/LightningExchanges — reference link, not updated recently tho.