According to Clay Graham, founder of Rapaygo, a company that provides point-of-sale solutions to small businesses on the Lightning Network (LN), there is “enormous evidence” that “America is using Bitcoin.”
At the Bitcoin Lightning Festival in Portland, USA this weekend, LN Bitcoin earned over $1800 (four million satoshis) in just three hours.
The Bitcoin Party in Portland, called “Puddle City on Lightning Rails,” was a place where “suppliers, food carts, and artists accept bitcoin.” Graham told Cointelegraph that it was also a “food cart” that served as a “destination for bitcoin enthusiasts who want to experience the bitcoin shore.”
“Bitcoin Mobile Development Lab for Embedded R&D”. Source: Graham
Of course, fiat money was banned, and the famous Bitcoin maker Dennis Porter was the host of the festival. In this tweet he explains how easy it is to pay for goods with LN:
Graham told Cointelegraph that the event would be considered a success if “people are free to use bitcoin the way they use it.” In total it was:
Fifty people use over 4 million satoshis in three hours, three food carts and seven vendors sell what they want and even support utensils like “Advice to DJs.”
Paying the LN was easy at the party, Graham concluded: “It was easier than cash, everything was cheaper than the short, and it was a lot of fun on a sunny day.”
Dennis Porter leads the event in front of the Bitcoin Standard books and Bitcoin T-shirts. Source: Twitter
An almost instantaneous Layer 2 payment network built on top of the Bitcoin core chain, LN is perfect for the party. Pubinno, the company behind the Lightning beer distribution tool, designed specifically for festivals, while LNBits builds open-source payment tools such as co-payments and offline solutions to make payments smoother.
The LN technology used at the festival allows you to quickly print receipts. Source: Twitter
Thiago Vasconcelos, co-founder of Aceita Bitcoin and contributor to LNBits FOSS, told Cointelegraph:
“With LN, all you need is an internet connection! No card-reading equipment, no need for money, and no need to change currency [even though the place is international and with many foreigners.”
Free and open source LNBits based on LN compete with Visa and Mastercard. Vasconcelos adds, “Network fees are close to zero or even zero and are ultimately paid by the buyer, not the seller!” In addition, “Using an LN reduces the costs and risks associated with using a Visa or Mastercard.”
After all, some bitcoin customers want scammers to know about LN and about Graham:
“LN is very fast and transactions can go as fast or even faster than short selling, so both seller and buyer don’t feel ‘where my money went when they were trying to have fun on a sunny day’.”
Snacks and trinkets with LN QR codes at the festival. Source: Graham
Related: ‘Bullshit’ Chitcoins: Bitcoin Brokers Only on Freedom and Funding
In addition, there is a payment network that supports “artists, do-it-yourselfers and small businesses”. And there’s more local connection to money here — and more sovereignty — because for the Portland bitcoin party, “the nodes that direct payments to LNs are essentially liquidated in Portland.”
Following the success of Portland, Graham added that “Kansas City has already made contact on how to host this party” using the company’s solutions.
“Remember that within a year of Bitcoin Beach, El Salvador announced a legal tender. Now we can get a bitcoin beach in every city.”