I bought a cup of coffee once with Bitcoin, in hindsight it was a very expensive cup of coffee. But the transaction was painless. All I had to do was scan a QR code with my wallet app, pay a small fee, and wait about 10 to 15 seconds. But, that was back when the Bitcoin Network was smaller and had significantly fewer transactions. Today that same transaction is no longer painless, it can cost up to $50+ and take up to a few hours. These pain points are caused by blockchain’s inability to scale. Safe Network does not use blockchain and will not have these pain points. The Network will be capable of providing feeless, instant, and secure transactions. This one feature alone will make Safe Network infinitely more valuable than blockchain.
Do not get me wrong, the Safe Network is more than its ability to transact tokens. But that’s my point, this insignificant feature is just a sliver of the network’s value and makes it vastly superior to blockchain.
Lightning Network is interesting. Maybe it will catch on. My dad was asking me about it the other day, as someone who has held BTC for a few years at arms length. It does seem like a slow burner in terms of popularity, despite the maximalists using it as am answer to small payments.
I suppose it boils down to whether everything needs to be in BTC. If loading a lightning wallet is no easier than an alt (read: safe network) wallet, then maybe it doesn’t really move the game on enough?
I’ve always liked the idea of making payments from a wallet with many currencies in it. It being agnostic helps to retain a competitive market. If I like to use Safe Network tokens for my coffee, why not?
Perhaps then layer 2 solution that accepts any coin is actually a more interesting application. Along with automatic conversion between coins, etc, too.
Ofc, state taxes can make a less fluid solution, but it feels like they should bend to the optimal design and technology in the long run or they will inhibit freedom and growth (I know, can/worms, etc).
I remember buying a few things online in a similar way. It was painless and I could see right then that it had a future.
Funnily enough, it was probably around the last time I actually spent BTC on anything. Since then, it has become a HODL/investment vehicle. That isn’t a terrible thing of course, but it is a shame that the cash/payment side has sort of withered on the branch somewhat.
I do hope that something rekindles payments though. Given a useful primary market of network resources on safe network, a secondary payments market could spawn naturally. If this spills out of safe network and into the meat space, that would be great too. That could be many years down the line though.