The Lightning Network is the right partner for payments, as proved by a grassroots Bitcoin Lightning festival in Portland, Oregon.
According to Clay Graham, the creator of Rapaygo and a Bitcoin Lightning Network (LN) enthusiast, there is “grassroots evidence” that “America is adopting Bitcoin.”
Over the weekend, during a Bitcoin Lightning event in Portland, Oregon, the Bitcoin LN clocked more than $200 (four million Sats) in just three hours.
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Portland’s Bitcoin Party, dubbed “Puddle Town on Lightning Rails,” was a place where “vendors, food carts, and artists all take Bitcoin.” There was also a “food cart pod,” according to Graham, that served as a “business attraction point for Bitcoin aficionados who want a Bitcoin beach type experience.”
Of course, fiat money was not permitted, and Dennis Porter, a well-known Bitcoiner, served as the festival’s MC. He demonstrated how simple it is to pay for products using the LN in this tweet:
I paid ZERO fees to accept #Bitcoin instantly for my shirts. Can Visa do that? pic.twitter.com/34haSgIB6G
— Dennis Porter (@Dennis_Porter_) March 28, 2022
The event would be considered a success, according to Graham, if “people could spend Bitcoin freely as they would money.” There were a total of:
50 people, 3 food carts, and 7 merchants selling anything they want in 3 hours, with use cases like ‘tipping the DJ’ being supported.
The LN was “easy than cash, all cheaper than cards, and having heaps of fun on a bright day,” according to Graham.
The LN is a near-instant layer-2 payment network built on top of the Bitcoin main chain that’s perfect for a party. Pubinno, the firm behind the Lightning pour a pint tool, was created with festivals in mind, while LNBits creates open-source payment tools such as split payments and offline solutions to make payments tech even more seamless.
Tiago Vasconcelos, creator of Aceita Bitcoin and a contributor to the LNBits FOSS project, said:
All you need is an internet connection to use the LN! There’s no need for card swipe hardware, cash, or currency exchange [even] if the venue is international and full of foreigners.
LNBits’ free open source solutions, which are based on the LN, compete with Visa and Mastercard. “Network fees are near nil, if not free,” Vasconcelos says, “and are ultimately paid by the client, not the merchant!” Furthermore, “using LN lowers the expenses and dangers associated with using Visa or Mastercard.”
Finally, some Bitcoiners want fraudsters to learn about the LN, as well as Graham:
Because the LN is so fast, and transactions may clear as quickly as cards, neither the buyer nor the seller will be left wondering where their money has gone while they are simply trying to have fun on a sunny day.
It’s also a payment system that helps “artists, people who make things with their hands, and small enterprises.” And, according to the Portland Bitcoin Party, “the nodes that routed payments for the LN are primarily made liquid in Portland.” There’s also a stronger local connection to money–and greater sovereignty–because “the nodes that routed payments for the LN are mostly made liquid in Portland.”
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Following Portland’s success, Graham stated that “Kansas City has already sought out on how to replicate this party,” referring to his firm’s solutions.
Remember that El Salvador declared Bitcoin legal tender less than a year after it was discovered. Every municipality may now have a Bitcoin beach.