A Bitcoin Advocate Zaps 600 People with Bitcoin Tips in Social Media Experiment
– Michael Degroot, a Bitcoin advocate based in Canada, has conducted a social media experiment called Zapathon, where he “Zapped” 600 people with Bitcoin tips.
– He used the Orange Pill App, a social media platform that connects Bitcoin users, to send these tips.
– Zaps are small amounts of Bitcoin sent peer-to-peer using the Lightning Network, which runs on top of Bitcoin.
– Users can receive Zaps by creating a Lightning address and adding it to their profiles on various platforms.
– Zapping eliminates the need for intermediaries like PayPal or wire transfers and enables instant and low-cost money transfers.
Zaps and the Lightning Network
– Zaps are Bitcoin tips sent using the Lightning Network, a layer-2 solution that enables fast and cheap transactions.
– Users can choose between a noncustodial Lightning wallet or a custodial Lightning wallet, where a third party manages the Bitcoin.
– Zaps are measured in satoshis, the smallest unit of Bitcoin, and can be easily sent peer-to-peer.
– Adding a Lightning address to profiles on platforms like Orange Pill App allows users to receive Zaps from people worldwide.
– Zapping eliminates the need for middlemen and works well for micropayments.
The Power of Zapping
– Degroot’s Zapathon demonstrated the power of the Lightning Network’s money transfer mechanism.
– He was able to send Bitcoin to someone in South Africa within seconds and without any fees.
– Traditional methods like credit card payments can take days to settle and come with fees.
– Nostr, a decentralized social media platform, has popularized Zaps and allows users to send Bitcoin tips.
– Zapping aligns with the trend of value for value and direct creator compensation.
Nostr and the Future of Zapping
– Nostr is a protocol that integrates with clients like Damus or Snort to provide a decentralized alternative to centralized social media platforms.
– Users on Nostr have sent hundreds of thousands of dollars worth of Bitcoin through Zaps.
– Zapping on Nostr allows users to monetize content directly and express satisfaction and gratitude.
– Apple recently delisted Damus from the App Store due to the Bitcoin tipping feature, but other clients like Plebstr have emerged.
– Nostr continues to evolve and adapt, and its decentralized nature makes it resilient to censorship.
Closing Thoughts
– Degroot’s Zapathon was a successful experiment that demonstrated the potential of Zapping and the Lightning Network.
– Zapping allows for instant, low-cost, and peer-to-peer money transfers without the need for intermediaries.
– Platforms like Nostr are popularizing Zaps and enabling direct creator compensation.
– While there are challenges and setbacks, the decentralized nature of Zapping makes it a promising solution for the future of value transfer.
– Zapping is a way for Bitcoiners to contribute to the community, connect with like-minded individuals, and promote the adoption of Bitcoin.
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