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0 sats \ 3 replies \ @DarthCoin 15 Dec 2022 \ on: For BTC onboarding a brick & mortar business bitcoin
Ok, let me explain it to you in simple terms...
- Important aspect:
- onchain is the final settlement, is the "central bank", is your vault, that you just save for bad times.
- LN is the payment network, the one that flows all the time. Is your "commercial bank" and your daily spending pocket. It helps you pay fast for goods and services.
Both are using same sats, there's no token or shitcoin or any IOU involved. Any LN payment is actually a HTLC, an onchain transaction that only is not finally broadcast (settle) between 2 UTXOs. It is settle only when the channel is closed. That's why is better to keep a channel open as much as you can and transact through it as much as you can.
- I wrote several guides especially for merchants that want to start accepting BTC. There are many options, some easier, some harder or more complex. All depends how they want to do it and their own business profile. Here some examples:
- ₿itcoin - Be your own bank, think like a bank - this is the base, to understand first how the 3 levels of stash works
- Bitcoin for Merchants - simple steps, easy, just for starting
- First steps to accept Bitcoin as small merchant - another easy steps guide
- Lightning Wallets Comparison - full review of LN wallets
- LNBits for small merchants - how to run a full suite node for as a merchant, use case scenario
- The Bank of LNBits - how to run a LN bank
- Getting started with LNbits
- Operating with LN as a merchant - advanced guide
And many more guides on my substack.
- The "orange pilling" process do not start with just installing a LN wallet and giving him some sats.
Noooo, there is a long process of learning curve. They MUST start by reading a lot and practicing the base of using a BTC wallet, securing it, restore it etc.
On my substack also I put several lists of resources, that MUST be read, in order to start with Bitcoin:
- Lightning Network is awesome - huge list of documentation and LN services
- ₿itcoin Commandments
- 21 Reasons Why Bitcoin Will Save The World
- 21 Rules of a Bitcoin Maxi
- From where can I get some bitcoins?
- Pay utility bills with ₿itcoin
And I can go on and on with more...
@DarthCoin, thanks for all the resources and documents you have created, I'll take a close look to all of the link you posted here.
I totally agreed with your first & second points, but no in the last one....
Of course, the more educated the user the better (and safer), but we can not expect that all the users has a full knowledge of the nitty gritty in order to use bitcoin...It's like for to be able to drive a car, you need to know how all the components of the engine works...
In my opinion, one of the barriers in order to get more people using (not only hodling) BTC is the technical part, its need to be simpler to explain and use for the average Joe.
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Bitcoin is changing the world in all aspects, including the way people learn new stuff.
If new users will skip the knowledge base of Bitcoin and jump straight to use a dumb app that will hide everything from them in exchange for a "nice UX" that will make people even more DUMB.
That's why we are in this deep shit today: because people were get used to have dumb apps that do everything for them and they will never be not even curious how the things works behind the scenes.
I am not talking to know all the technical details about BTC and LN, but there is a limit of basic stuff that people MUST know.
Examples: people must know what is a UTXO, LN channel, HTLC, how fees works, channels reserves, broadcasting txs etc... I see many users that have no idea about what are these but they still complain. Their complaints are basically EXACTLY because they don't know how these basic things work and what they have to do in regards.
The learning curve is slow, I know, there's no rush in learning.
Took me 10+ years to know many things about BTC and LN and I am still learning. Every fucking day I would not go to bed to sleep until I would not learn something new about BTC.
I am not joking... if we want to go forward with Bitcoin WE MUST LEARN HOW TO KNOW MORE STUFF.
Who will ignore this, will be doomed to fail and die as a useless ignorant. That's why today we have so many scams, shitcoins and bullshit like that. Because people are fucking lazy and don't want to read and learn more. They just follow some bullshit "influencer" without even thinking.
ENOUGH WITH STUPIDITY IN THIS WORLD. People must start be smart and intelligent. And the only way to achieve that is by reading and learning new stuff EVERY FUCKING DAY.
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people must know what is a UTXO, LN channel, HTLC, how fees works, channels reserves, broadcasting txs etc...
This is exactly why people would use fedimint instead (or, God forbid, CBDC). I'm not even against fedimint that much but I think LN should do better in terms of addressing a dumb audience.
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