There is “baseline evidence” that “the United States is embracing Bitcoin,” according to Clay Graham, founder of Rapaygo and Bitcoin Lightning Network (LN) enthusiast.
At a Bitcoin Lightning festival held in Portland, United States, over the weekend, the LN surpassed $200 (four million satoshis) in just three hours.
Hailed as “Puddle Town on Lightning Rails,” Portland’s Bitcoin Party was a space where “vendors, food carts, and entertainers accepted Bitcoin.” Graham told Cointelegraph that there was also a “pod of food carts” that acted as a “business attraction destination for Bitcoin fans who want a Bitcoin beach-type experience.”
Of course, the use of fiat money was not allowed, and popular bitcoiner Dennis Porter acted as master of ceremonies at the festival. In this tweet he showed how easy it is to pay for goods using the LN:
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
Graham told Cointelegraph that the event was considered a success if “people could freely spend Bitcoin like they would fiat.” In total there were:
“50 people spending over 4M satoshis in 3 hours, 3 food carts and 7 vendors selling whatever they want while even use cases like ‘tip the DJ’ are supported.”
Graham concluded that the LN made payment at the party a doddle: “It was easier than cash, cheaper than cards, and lots of fun on a sunny day.”
A near-instant Layer 2 payment network built on top of the Bitcoin base chain, the LN is ideal for a party setting. Pubinno, the company behind the Lightning pour a pint tool was built with festivals in mind, while LNBits builds open source payment tools like split payment tools and offline solutions to make payment technology even more seamless. .
Tiago Vasconcelos, co-founder of Aceita Bitcoin and contributor to LNBits FOSS told Cointelegraph:
“With the LN all you need is an Internet connection. There is no hardware to swipe the card, no need for cash, no need to exchange currency [incluso] if the place is international and with many foreign people”.
Built on top of the LN, LNBits free open source solutions compete closely with Visa and Mastercard. Vasconcelos adds that “network fees are almost zero, or even zero, and are ultimately paid by the customer, not the merchant.” Furthermore, “using LN reduces the costs, and risks, of using Visa or Mastercard.”
Ultimately, some bitcoiners are even keen to let scammers know about the LN, and for Graham:
“LN is so fast and transactions can clear as fast as cards, so both buyer and seller don’t get that ‘where has my money gone’ feeling when they’re just trying to have fun on a sunny day.”
In addition, it is a payment network that supports “artists, people who made things with their own hands, and small businesses.” And there is more local connection to the money – and more sovereignty – because for the Portland Bitcoin Party, “the nodes that route payments for the LN are mostly made liquid in Portland.”
Following the success of Portland, Graham added that “Kansas City has already reached out to find out how to heat up this party” using his company’s solutions.
“Remember that a year after the Bitcoin beach, El Salvador announced legal tender. Now we can have a Bitcoin beach in all cities.”
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