How Ordinal Inscriptions Will Drive Adoption Of Bitcoin’s Lightning Network
By Jesse Shrader         

The growing popularity of NFT-like inscriptions and BRC-20 tokens on the Bitcoin network has resulted in increased transaction costs and challenges. The demand for "stamping" limited block space with new data has pushed transaction costs so high that Binance had to pause BTC withdrawals twice in May 2023. To address this issue, Binance announced its plan to use the Lightning Network, a decentralized Layer 2 network, for processing BTC withdrawals.

Jesse Shrader, the co-founder and CEO of Amboss, believes that Bitcoin should not be limited to being digital gold and that emergent uses of the Bitcoin blockchain, like the Lightning Network, will drive more efficient use of block space and expand Bitcoin's utility as a global currency. He sees the Lightning Network as a trustless alternative to centralized payment processors.

The introduction of BRC-20 tokens has led to higher transaction costs, benefiting Bitcoin miners who earn more through transaction fees than creating new BTC. However, this increase in fees has impacted average users, with the average bitcoin transaction fee reaching a two-year high in May 2023.

While BRC-20 tokens currently lack some utility compared to their ERC-20 counterparts, their demand and impact on transaction fees are reminiscent of meme coins and NFTs on other networks. This could lead to long-term impacts on Bitcoin users and create a demand for more efficient transactions. The Lightning Network, with its modest fees and fast payment capabilities, emerges as a potential solution.

The Lightning Network's transaction fees remain low compared to traditional payment networks, making it an attractive option for users. With the combination of Bitcoin's monetary policy and Lightning's transaction network, it has the potential to become the default global payments processor, offering an alternative to the existing central banking system.

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Better Money For Better Journeys: How Bitcoin Has Improved The Way I Travel
By HodlingCarla

HodlingCarla, an avid traveler and Bitcoin advocate, discussed how Bitcoin has improved her travel experiences. She highlights several ways in which Bitcoin has helped address common money-related issues faced by travelers.

1. Bitcoin Helps Save Time: Carla mentions the time wasted dealing with payment-related problems in foreign countries, such as finding currency exchanges, stores accepting cards or resolving credit card issues. Bitcoin's adoption in certain locations, like the island of Boracay, has enabled digital payments, eliminating the need for cash, ATMs and currency exchange offices.

2. Bitcoin Helps Save Money: As a budget-conscious traveler, Carla mentions the expenses associated with credit card fees, ATM fees and currency exchange rates. However, when visiting Bitcoin communities, transaction costs are often minimal or non-existent, and discounts are sometimes offered for bitcoin payments.

3. Bitcoin Enhances Travelers' Safety: Carla discusses the risks of fraud while using cash, ATMs and credit cards, sharing personal experiences of being scammed or having her travel card cloned. Using bitcoin eliminates these concerns, as it does not involve physical cash or traditional financial systems, reducing the risks and providing peace of mind.

4. Bitcoin Makes Traveling More Meaningful: Carla emphasizes the positive impact of bitcoin on developing countries facing issues like poverty and weakening currencies. Paying locals in bitcoin is seen as more rewarding and authentic, fostering conversations about the changes brought by bitcoin adoption and making travel experiences more meaningful.

Carla concludes by expressing how discovering Bitcoin has significantly transformed her travel experiences, changing her perspective on money and inspiring her to support the adoption of bitcoin in more places to empower communities and boost economies.

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