Jsonbits is asking on @Stacker News What do you think is the biggest thing holding back mainstream merchant adoption?

Stacker News

Merchant Adoption in the US \ stacker news

What do you think is the biggest thing holding back mainstream merchant adoption for bitcoin and lightning payments in the US?* Background: After r...

— I think there needs to be demand from paying bitcoiners first. And bitcoiners need to go full in bitcoin even before that. Otherwise they tend to fall in Gresham's law fallacy

Another beautiful consequence of verified contacts being able to issue their own Cashu tokens is that it simplifies communication within a Lightning channel factory. Once you have verified contacts with their npub, you can coordinate the construction of a new channel factory and, more importantly, modify the distribution of existing virtual channels within the factory. You can freeze the state of channels and continue clearing via Cashu tokens. Once the new channel distribution is settled, you can redeem the tokens back through your newly established channels. View quoted note →

Imagine if everyone could issue their own IOUs in sats. I don’t mean just anyone, but literally everyone. You would accept promises only from well-known and verified peers—and only up to a certain amount. You would compare the risk of losing this money with the cost of bitcoin settlement. During times of cheap block space, like now, you could settle on-chain more frequently. If you have a stable internet connection on your mobile, you could start opening channels with your peers. Once you have a few channels, the incentive to hold IOUs decreases. And with further optimizations, it diminishes even more. This could extend the reach of the Lightning Network, connect the missing points, and, over time, help build a truly resilient network. View quoted note →

If we can’t guarantee that nobody can print money the second best could be that everyone can print. And with verified peers the ecosystem could evolve to intended state that nobody is actually printing. View quoted note →

Self-custody is not trivial, but self-custody for state institutions will be huge honeypot and therefore really difficult to maintain. https://www.ft.com/content/a3c06f8f-34ad-4065-bcf4-97670230824f

Mempools are almost empty again..

This remains to be the primary goal: 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. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending…

Bitcoin is not technically perfect. Its genius lies in getting the incentives right.

Another builder has joined the game. Welcome back, Ross 👋

The entire point of Bitcoin is to transmit money, everyone needs to stop making idiots out of themselves by denying we are doing this. If the government ends up ruling "Yes, you need a license to run a Bitcoin node or hold Bitcoin keys", then you have dug your own grave by pretending they have the authority to control this in the first place. Grow some fucking balls and be proud of transmitting money. Stop begging the government to reevaluate their regulation that denies you this basic human right. — Kruw