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137 sats \ 5 replies \ @028559d218 13h \ parent \ on: Empty Mempool Makes Me Sad bitcoin
Where... do I transact? If I want to buy something the best I can do... is a VPN subscription. Oh wait I already paid for that.
And to buy in-person coffee or anything else, I have to travel relatively long distances (possibly over the ocean).
And to actually buy something I might as well use Lightning, which vendors want anyway.
OK so what do I do with on-chain? Maybe a monthly withdrawal from an exchange plus one more if I coinjoin afterwards. That's 2. Per month.
This is why the mempool's empty.
Fair points. I sent some sats to cold storage yesterday, sent some to freebitcoin to bet on sports and loaded up a lightning wallet. I don't really need to consolidate utxo's right now. I could buy some gift cards using on chain funds but I could also use lightning for that. @realBitcoinDog will sell you his book for Bitcoin. I am sure he will accept onchain.
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I think we are witnessing something really obvious... but somehow it has evaded most of the Bitcoin community?
Most people will rarely touch on-chain. The Bitcoin economy of the future will be 90% Lightning, and folks will use and refill some sort of Lightning channel or channels that they can spend from.
Large transactions, or transactions involving institutions, banks and ETFs will be on-chain but that's about it.
I think it's a mistake for people to 'use on-chain' if they have no real reason to. Bitcoin is not about charity if that's not where people's incentives are... and I have little reason to go on-chain regularly? A couple hundred thousand sats in a Lightning wallet and that's... it. Savings is on-chain cold storage like most people.
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@DarthCoin would never pay me on-chain Bitcoin for my books, but @028559d218 might! Guaranteed more funny than the lightning guides!
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I would pay you in Lightning. Lightning more private (especially for the sender) and lower-fee.
Btw, are you running your own BTCPay server?
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Hey that works for me!! I’d love a review in ~BooksAndArticles like @grayruby did!
My friend who has started a small business is running his own BTCPay server on my behalf. So it’s not quite non-custodial but better than CoinOS I’ve at least shook hands in-person with my custodian. Check it out!
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