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Mainstreaming Lightning: 3 Practical Options for Merchants

Mainstreaming Lightning: 3 Practical Options for Merchants

Our goal is to liberate the world from inflation, the heteronomy of (central) banks, and monetary hierarchies that equate money with power — to bury fiat. We’re building a decentralized, P2P, flattened world. But to change the monetary world, we first need to understand it.

This is how I imagine fiat’s funeral. Just look at all those happy faces. (Image: PickPik)

Think about your last few fiat transactions. Buying groceries? Picking up dry cleaning? Buying some DLC in your favorite mobile game? Let’s consider two aspects of these transactions:

Transaction fees of even a few bucks are unacceptable for such everyday microtransactions, as are confirmation times anywhere near 10 minutes. At the other end of each of those transactions, there was a merchant.

These two observations lead to two corresponding conclusions:

Lightning is the only technology that fulfills bitcoin’s promise of flattening and liberating the financial world fast enough and cheap enough for real-world transactions. Merchants need practical solutions to get started and active in the Lightning economy.

The good news is that there is a vibrant community actively developing merchant solutions for Lightning, generating choice, competition, cross-fertilization, synergies, and all that good stuff. However, incoming merchants might be unaware of, or a little overwhelmed by, the options available to them. So here we explain three practical tools for merchants to start accepting bitcoin over Lightning: OpenNode, BTCPay Server, and the Breez POS mode.

OpenNode: plugging in to a 3rd-party payment platform

Tl;dr: OpenNode provides an easy custodial solution for merchants to start accepting Lightning payments.

OpenNode was launched two years ago, and they say that it’s “the easiest way to accept bitcoin.” They are making an honest effort to deliver just that. OpenNode offers merchants the ability to acce...

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