[3np]

There is no number there on the number of transactions, simply because it’s impossible to measure. It’s only possible to see the lightning transactions flowing through your own node.

Each channel accommodates theoretically infinite amount of transaction.

[ashtonkem]

More knowable question: who actually uses the lightning network to accept payment for goods and services?

[anonisko]

https://foldapp.com/

https://store.blockstream.com/

https://acceptlightning.com/list.html

Several major exchanges have announced that they are implementing LN support. Still very early days.

[ashtonkem]

Looking at that list, most of those are clearly crypto enthusiasts. I don't think "HODL Monkey" is a good indicator of where the market is going; ditto with exchanges.

As always, call me when I can buy a latte with it.

[3np]

FWIW I have been buying lattes for bitcoin (a couple of which with lightning) in multiple countries since ~2012

[anonisko]

This shouldn't be surprising. The early adopters of a finicky new technology are always going to be enthusiasts.

You can buy a Starbucks gift card on fold app using LN and currently get 3% back in sats.

But seriously, why would anyone spend a ton of effort right now integrating a coffee shop directly with LN in the first world? Traditional payment systems work fine. Bitcoin was never primarily concerned with replacing Visa. Think bigger.

[arcticbull]

Is someone in the third world chomping at the bit to pay $40 to open and close a single LN channel when that’s 10% of the GDP per capita of some of those countries you plan to help? Probably not. The only places you can get away wanging people with such egregious fees simply don’t need crypto.

[uh-quan]

> Is someone in the third world chomping at the bit to pay $40 to open and close a single LN channel when that’s 10% of the GDP per capita of some of those countries you plan to help? Probably not.

In such cases, there is no reason such users can't "enter" bitcoin through a second layer such as the Lightning Network.

Why would they do that if it isn't real bitcoin?, you might ask. Well, for one, their local, tin-pot-dictator created currencies are often worthless, meaning that even second-layer bitcoin is a far more sound and reliable currency.

And who is to say $40 for an on-chain transaction is an "egregious fee"? It turns out having access to the world's most secure, decentralized, unstoppable, set-in-stone, uncensorable, trustless, non-inflationary monetary network is a valuable thing. Maybe so much so that $40 per on-chain transaction is a bargain in the bigger picture.

[spurgu]

You pay zero with the Phoenix wallet: https://phoenix.acinq.co/

[ashtonkem]

What does “think bigger” even mean here, aside from memes about Bitcoin prices going up? If your competitor is cheaper, more popular, more reliable, and more widely supported, aren’t you just straight up losing?

[arcticbull]

Good point, thank you for the correction.