Wallet of Satoshi Payments Are Going Parabolic… Why? \ stacker news ~bitcoin

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Wallet of Satoshi Payments Are Going Parabolic… Why?

1179 sats \ 43 comments \ @kr 10 Jan 2023 bitcoin

I’ve been keeping a close eye on Wallet of Satoshi’s website which updates their LN payments every few minutes, and the numbers are starting to get really big.

Through most of the summer they’ve consistently done 10,000 payments/day, but something has changed since November.

In November they did 11,266 payments/day
In December they did 14,290 payments/day
In January they’re on track for 19,124 payments/day

At first I figured there was some temporary Nostr-related bump, but I’ve got no real data to back that up… also, the payments are still steadily accelerating which typically doesn’t occur when a new use case goes viral.

I also have no reason to believe this data is wrong, but curious to hear from other LN wallet operators on whether or not you’re seeing an acceleration in payment volume in the last couple months.

https://pbs.twimg.com/media/FmJcvE6XoAAfKbu?format=jpg&name=large

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504 sats \ 1 reply \ @Coinosphere 11 Jan 2023

I doubt it's Nostr; Alby integrates extremely well with nostr and lots of ppl are using that.

My money would be on a community in Africa. Ask Ray Yousef or the Bitcoin Ekasi boys if they are seeing lots of folks use WoS.

0 sats \ 0 replies \ @247bf84fda 25 Aug freebie

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253 sats \ 1 reply \ @moneydelics 10 Jan 2023

Would be interesting to see some data about the geography of those payments 🤔

0 sats \ 0 replies \ @247bf84fda 25 Aug freebie

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229 sats \ 5 replies \ @blockguard 11 Jan 2023

Nostr. Lots of @walletofsatoshi.com lightning addresses there.

10 sats \ 3 replies \ @kr OP 11 Jan 2023

is there a good way to get aggregated data on nostr LN addresses?

0 sats \ 1 reply \ @brugeman 12 Jan 2023

It's not aggregate, but you could search for specific @LN addresses this way:

https://nostr.band/?q=lna%3A%40walletofsatoshi.com&media=nostr_people

Looks like there are 138 people w/ WoS address, vs 167 w/ Alby.

Added lna: filter to my nostr search just for you :)

0 sats \ 0 replies \ @247bf84fda 25 Aug freebie

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0 sats \ 0 replies \ @247bf84fda 25 Aug freebie

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0 sats \ 0 replies \ @247bf84fda 25 Aug freebie

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203 sats \ 3 replies \ @TonyGiorgio 11 Jan 2023

I think there's a very obvious answer here that I won't say publicly. But have you considered asking them?

1 sat \ 1 reply \ @kr OP 11 Jan 2023

I haven’t asked WoS directly, good idea though.

As another data point, THNDR Games says they’re seeing much higher payout numbers now, and I imagine WoS is a preferred wallet for their users.

view on twitter.com

0 sats \ 0 replies \ @247bf84fda 25 Aug freebie

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0 sats \ 0 replies \ @247bf84fda 25 Aug freebie

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151 sats \ 3 replies \ @omekau 11 Jan 2023

Do you use Nostr? There’s quite a bit of activity recently with no signs of slowing down so that seems like a plausible explanation.

20 sats \ 1 reply \ @kr OP 11 Jan 2023

yes. typically viral growth leads to large spikes and falls in activity… WoS payments have been quite steady.

0 sats \ 0 replies \ @247bf84fda 25 Aug freebie

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0 sats \ 0 replies \ @247bf84fda 25 Aug freebie

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151 sats \ 1 reply \ @brianoflondon 11 Jan 2023

What are they actually counting? I can send 1 sat for free to my own Wallet of Satoshi account (I have channels with them) and back again.

I dare say I could shuffle myself 10,000 payments or more if I wanted. Unless they're watching for this I'm not sure they'd even notice.

One of the joys of using WoS for testing (for me anyway) is that they charge zero fees if you have a channel with them.

0 sats \ 0 replies \ @247bf84fda 25 Aug freebie

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151 sats \ 1 reply \ @TheBTCManual 11 Jan 2023

We can see a slight uplift in interest for the brand search term, but I don't know if thats all organic or maybe some press releases that have pushed people to try it, I think WOS would be the entry point for most normies onto LN since its custodial and abstracts a lot of the drama of lightning away from you and allows an easy fiat onboarding

It could also be an entry point for users who want to try out other apps for example before fountains latest update, WOS would be the easiest way to get sats to fund your account

0 sats \ 0 replies \ @247bf84fda 25 Aug freebie

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43 sats \ 1 reply \ @GabeBHiggins 12 Jan 2023 freebie

Might be a new LSP... 😎

0 sats \ 0 replies \ @247bf84fda 25 Aug freebie

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16 sats \ 1 reply \ @notgeld 11 Jan 2023

Oldest, simplest wallet. And finally, why payments can't go parabolic if LN should fundamentally allow that.

0 sats \ 0 replies \ @247bf84fda 25 Aug freebie

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10 sats \ 1 reply \ @Cleartest 11 Jan 2023 freebie

Yea I setup a wallet of satoshi when I signed up for nostr. Was originally useing blixt but wanted a quick send to address for Lightning!

0 sats \ 0 replies \ @247bf84fda 25 Aug freebie

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5 sats \ 1 reply \ @DarthCoin 11 Jan 2023

I think is due to more influx of new LN users. The great purge of shitcoins pushed them to use LN. And WoS is the simplest fsstest and easier solution for these users. Is quite a natural process of healing.

0 sats \ 0 replies \ @247bf84fda 25 Aug freebie

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0 sats \ 1 reply \ @selfish_gene 12 Jan 2023

это как инфляция 5% на 100$ или 5% на 250$

0 sats \ 0 replies \ @247bf84fda 25 Aug freebie

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0 sats \ 1 reply \ @faithandcredit 11 Jan 2023

s-curve adoption maybe

0 sats \ 0 replies \ @247bf84fda 25 Aug freebie

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0 sats \ 1 reply \ @GhostofTruth 11 Jan 2023

I downloaded it some weeks ago. Perhaps it's the design and that it is really easy to use?