Because pizza places are not ready for accepting bitcoin for pizza via the Lightning Network today, he had to find a friend in London who acted as the intermediary in the sale.
Laszlo writes, the purchase “demonstrates the basic premise of how this works for everyday transactions. It could just as well be the pizza shop accepting the payment directly with their own lightning node.”
In Laszlo’s first BTC-pizza transaction in 2010, he paid 10,000 BTC. This wasn’t much money back then.
Over the past 8 years, the value of Bitcoin has soared. Bitcoin transactions has become a lot more expensive. Fees are rather low these days, but they went as high as $20 per transaction not long ago.
This is where the Lightning Network comes in. It is a feasible scaling solution, currently in final stages of development, that should help reduce the cost and time of Bitcoin transactions.
This time Laszlo paid 649000 satoshis, or 0.00649 Bitcoins, which equals to around $62 for two pizzas. The payment was completed virtually instantly.
Laszlo agreed that he would show the pizza delivery guy the first and last four characters of the hex string of his Lightning payment hash preimage in order to prove he had paid for it and get his pizza.
All worked well, and soon he was sharing a picture of him and his daughters enjoying the pizzas in their kitchen.
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