Lightning App Satoshiplace - It Looks Dumb From The Outside But Could Be extremely Interesting!

Satoshiplace, an artwork where everyone can contribute by drawing imagines and pay 1 Satoshi per pixel through Lightning became very popular lately. There are a total of 1,000,000 pixels available and they can be overwritten when someone else pays for the same pixel after you. At the first glance it looks very stupid because images of penises and enemies of Bitcoin are very popular and dominating the artwork at the moment, but the concept could be extremely powerful.

The difference with other popular Dapps

With 10,000 unique visitors a day, more than 8,000,000 pixels overwritten through 3000 Lightning invoices the popularity of Satoshiplace is comparable with Crypto Kitties that runs on Ethereum. However, Crypto Kitties clogged up the entire ETH network while Satoshiplace doesn’t influence the BTC blockchain at all, because the activity happens off chain.

This proves the advantage of off chain scaling and gives an indication how huge the capacity will be. Furthermore, it opens up to the possibilities of micro transactions.

Watch how the artwork changes over time

It greatly speeds up testing

Because of the high volume devs are able to remove bugs and test new implementations and measure them in real time. This will greatly speed up the improvement of Lightning. Furthermore, the Satoshiplace node will be a huge target for attackers (Because the propaganda of Bcashers will be undermined) while the locked up funds are very limited.

This means that the likelihood of an attack is greatly increased while the effect of a successful attack is very limited. The Satoshiplace node is actually a very cheap stress test for all the Lightning nodes. When an attack is carried out successfully, it can be fixed in every node and improve the resilience of the entire network while the damage is limited.

The concept can disrupt online advertising

The Satoshiplace code can be forked and small adjustment can be made, a price per pixel can be decided by supply and demand for example. The code can be implemented in a Wordpress plugin and used by webmasters to get paid for advertisement space. When the website becomes more popular it will be worth it to overwrite the previous advertisement and pay a bit more than the previous advertiser did. This way the market will decide how much your advertisement space is worth and all 3rd parties will be excluded!

The space can be sold for a certain amount of time to create a regular income. Of course the danger exist that your competition draws a penis on your website like what happens on Satoshplace, but you can overwrite it for free since the funds go to yourself. An extra bonus on top of the advertisement earnings will come from fees of payments that are routed through your node, when your website is popular your node will probably be well connected and also route external payments.

The concept can lead to great innovation

Like art can be created on Satoshiplace, other things can be optimised through this concept too. Code can be improved and re-written in a cleaner way for example. It can be published in a Satoshiplace like application, lines can be re-written by paying a higher amount per character every time. The funds gathered by a certain square of space of the code that eventually get’s implemented will be send back to the last person who contributed and thus paid most as a reward for his winning work.

This leads to a form of Proof of Work, where a contributor will only re-write good code when he knows his piece is better because if it isn’t he will lose his initial payment. Bad code will certainly not be paid for and be overwritten in no time. Of course other things than code can be optimised this way too.

It brings Bcashers to Lightning LOL

The Bitcoin white paper is pasted on the artwork regularly too, and this attracts Bcash supporters to change the Bitcoin name in Bitcoin Cash. Also, images of Bcash leaders are placed in a not too polite way and Bcashers are buying pixels to delete it. The good thing is: They need to set up a LN node or wallet to do so and only make the network more useful and resilient in the process!

Hilarious, Bcash fans are using BTC Lightning!

Disclaimer
This is no financial advice, just my view on the market.

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