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Accept Bitcoin payments via Lightning Network for snacks #857

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paulfurley opened this issue Jul 25, 2018 · 12 comments

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@paulfurley
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commented Jul 25, 2018

The Lightning Network is an interesting protocol on top of Bitcoin which tries to solve 2 of Bitcoin's major problems:

  1. slow transactions (~1 hour to verify)
  2. massive transaction fees (anywhere from $0.10 -> $10)

If we're willing to accept Bitcoin payments in principle then I think it would be really interesting to try out accepting them for snacks using the Lightning network. Snacks are a small amount of money which is exactly the use case lightning is designed for (it wouldn't make sense to do a regular Bitcoin transaction because of the fees)

@idrysdale and I have set up a Lightning Node to figure out how it all works. We could use our node to take lightning Bitcoin payments, batch them up and send them to a DoES bitcoin wallet periodically, or something like that. If it's a raging success DoES might want to run its own lightning node.

I know there are quite a few Bitcoin enthusiasts in the community, and very little to actually spend bitcoin on. It would be cool if DoES could trailblaze some new finance tech.

I'll volunteer to do the gruntwork to make it happen... @DoESLiverpool/directors can we give it a go?

@ajlennon

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commented Jul 25, 2018

I spy with my little eye... Somebody with a new snackcoin mining rig...

@johnmckerrell

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commented Jul 26, 2018

Yes, happy to give this a go.

@paulfurley

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commented Jul 26, 2018

👍

@MatthewCroughan

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commented Jul 26, 2018

You're on a roll, you haven't stopped doing stuff with lightning since I mentioned it haha. I'll try laser cutting a vending machine with an integrated display that displays a qr code and instructions on how to get set up with lightning, maybe even opens a reverse channel to them, just for DoES. Using supernode.li with a budget of £10.

In fact, would it be possible for you to create a method of sending a request to supernode.li to open reverse channels via lightning funds and not a main-net bitcoin transaction? Reverse channel opening via either bitcoin or main-net funds, not to their own address but to a specified address, removing the need for me to bother opening channels back to people with a less reliable node of my own.

@ajlennon

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commented Jul 27, 2018

So how do I get set up to mine for snacks?

@MatthewCroughan

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commented Jul 27, 2018

@ajlennon If you'd like, go look at the forknote repository https://github.com/forknote/forknote and make snackcoin, run a daemon on a pi at DoES, then use the wallet-rpc to see and verify transactions via an arduino at the point of sale. The problem then becomes making Snackoin worth something.

@ajlennon

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commented Jul 28, 2018

I suppose the problem is much the same as fiat currency. I just have to convince enough people that something which is inherently worthless can be exchanged for goods and services, or in this case snacks.

Maybe if I seeded the market with snacks which could only be purchased with snackcoin, but at a discount in comparison to currency.

@MatthewCroughan

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commented Jul 28, 2018

@ajlennon Alternatively, you could back Snackcoin with your own storage of £. For every Snackcoin, there is £1 in a vault somewhere, or at least that's the claim, and thus Snackcoin is worth £1.

@ajlennon

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commented Jul 29, 2018

Unless I renege...

@idrysdale

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commented Jul 30, 2018

This looks like a good place to start for the vending machine https://github.com/ElementsProject/nanopos

@ajlennon

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commented Jul 30, 2018

That looks like a lot of fun. I have a touchscreen monitor on my desk that might be useful for this?

@MatthewCroughan

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commented Jul 30, 2018

@ajlennon That would be excellent indeed, I'll take it, I owe you some snackcoin. Now all I need is a coin detector, which are magic black boxes that I have no idea how to make, I'm probably going to just buy one tomorrow, unless you know how to make one that would be rather reliable, since I'd want the option of paying with both cash and or Bitcoin.

@DoESsean DoESsean closed this Jul 11, 2019

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