The Lightning Network Lunch: A Bitcoin contactless payment story

The Lightning Network Lunch: A Bitcoin contactless payment story

The Lightning Network (LN), now with the appropriately named Bolt Card, allows Bitcoin (BTC), enthusiasts to pay for goods or services via contactless technology.

CoinCorner’s data analyst took the Bolt card to the Isle of Man as a trial. This British Crown dependency is located in the Irish Sea. “MSW”, as he is called, was tapped to pay at 8 PoS devices during his lunchtime investigation.

It worked as follows: MSW hovered the NFC-enabled Bolt Card near any PoS device that had a Lightning invoice. MSW 20 spent $20 on 20 meals, snacks, and drinks using the LN before the Bolt Card was released.

#LightningLunch Day 16 Prawn noodles and mango lassi Street Food Price: 44.634 Feng (PS11.50). Notes: Wonderful as usual, but quite spicy. Pro-tip: Save your sats by taking your lunch break earlier! Total spent: 413,107 Feng / PS123.30 Current value: PS110.06 pic.twitter.com/EA8Dgx6qoI
— CoinCornerMSW (@CoinCornerMSW), May 9, 2022

MSW shared with Cointelegraph that the Bolt Card felt “completely natural” and worked exactly as one would expect.

It is a significant improvement in user experience compared to scanning QR codes. It was a bonus to me getting to know the local businesses on the Isle of Man, and seeing how they embrace the Bolt Card.

MSW, a data analyst at the core, also documented the comparative costs of paying with Satoshis (the smallest amount of a Bitcoin) versus paying with pounds sterling, the Isle of Man’s currency. The pound’s value has been marginally increased in light of recent bear market price movements.

MSW’s graph showing his Lightning Lunches. The amount of Sats (blue) spent is more than the number of pounds (yellow). Source: Twitter

The LN, a layer two technology based on Bitcoin, is perfect for micropayments and instant payments. But, before the Bolt Card, customers from El Salvador to the Isle of Man could pay more than the LN simply by scanning a QR Code.

CoinCorner CEO Danny Scott says that this payment method is not as user-friendly and efficient as it should be for a large audience.

It still requires unlocking the phone, opening an application, scanning a QR code, and then making the transaction. This is a step backwards in terms of user experience compared to what we are used to for in-person payments.

The Bolt Card, in true Bitcoiner fashion, is compatible with industry protocols such as Lightning and LNURL. Scott says that they will explore other ideas to improve The Bolt Card and the user experience in all Lightning use cases.

The Lightning Network is growing all around, from large payments integrations like Cash App to grassroots movements and individuals making micropayments.

Related: Crypto is gaining popularity worldwide and can be used in retail

Scott says that the Bolt Card is yet another Bitcoin payment innovation. It offers “real products for real life.” Ultimately, it furthers the path toward “hyperbitcoinization.”

The lack of progress in payments is evident in Sam Bankman-Fried, CEO of FTX,’s comments. He suggested that he doesn’t see a future in Bitcoin payments and got in trouble.

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Amy Jimenez– Services My name is Amy Jimenez, and I am the main writer behind the" allthetopnews.com" for the ground-breaking and most fragile bits of knowledge into the most recent news in the services sector. I began my voyage of work as an autonomous investment advisor. I had around 4 years of involvement in this field. I am a free soul so; my energy for investigating the world has taken me to the countries over the globe and allowed me to report for a part of the best news affiliations. At present, I am a full-time manager as experienced in the account and began to utilize my capacities.

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