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Board Beginners & Help
Re: 1 week until bitcoin pizza day
by
slackovic
on 16/05/2020, 06:58:41 UTC
But what if millions of people tries to do the same? You think that Bitcoin or Ethereum network will be able to process it?
Potentially through Bitcoin layer 2 and layer 3 solutions, yes.

As for WBTC, I'm just saying that it's funny that more Bitcoin is locked up in the Ethereum network than there is BTC on the Lightning network. Plus, article says that there is only 1000 BTC in the LN! That's saying how low adoption of the Lightning network is...
Though Lightning's adoption is no doubt very low, it's really expected for there to be more bitcoin "on" Ethereum though. Lightning is for small transactions, whereas WBTC are mostly for staking. It's pretty much spending(LN) vs hodling(WBTC) for interest and for those "DeFi contracts", so of course there would be more bitcoin locked up on Ethereum.

OK, you have a point there... But let me ask you this. Why is no one accepting BTC payments through the Lightning network? We have several companies (mostly IT shops) that accept payment in BTC, but none of them accepts payment through the LN. Why is that? Is it that hard to implement that?