Here's how ShireHodl onboarded over 100 new users to the Bitcoin Lightning network by spending less than $20.
Speaking with Cointelegraph, Shire said that he has “sent out about 110 payments of 1000 sats.” Sats are short for Satoshis, or the smallest denomination of a Bitcoin. There are 100 million Satoshis in 1 Bitcoin. Shire said:
“It's not much, maybe $20 in total, but the total fee is less than a penny. Using a credit card or debit card, the fees would have been more than the value transferred, so it would have been impossible." In all, Shire sent over 110 micropayments —effectively onboarding 110 new users to the Lightning Network. The business owner took Bitcoin Lightning's adoption into his own hands because he recognized that many Bitcoin users had not used Lightning before.The results of the Michael Saylor poll inspired Shire to take action. He told Cointelegraph, “60% of respondents in his poll said they have never used a lightning wallet so this was a small incentive to give it a go.
Also, I knew the fees would be minuscule and that people taking part would be all over the world, demonstrating how LN is borderless and will enable micropayments for all kinds of future applications.
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