How The New York Times Could Have Used Lightning To Make Millions Of Dollars

This is an opinion editorial by Ram, a twenty year old trainee, soldier and storyteller.Image Credits: samchills on Flickr under a CC BY 2.0 license.To understand why the New York Times might have made a lot more cash in 2015, its worth appreciating micropayments in the context of the Lightning Network.We typically think about Lightning as a Bitcoin scalability solution as it makes everyday payments in bitcoin practical. Basically, Lightning is a protocol built on top of the primary Bitcoin network, and here, transaction costs are substantially lower and payment speeds are much, much faster. Lightning is considerably more efficient than even Visa and Mastercard.”The network (Lightning) can likewise process millions of deals per 2nd (TPS), which is far and above Visas capacity for around 25,000 TPS. Solana, another rival in the inexpensive and quick payments area, can only do 60,000 TPS. So Lightning has a considerable benefit here.”– Nat EliasonAnd Lightning still has a lot of room to grow. While this technology is still developing– for example, with concerns to adoption, security and privacy– it shows extremely strong network results: As more people start utilizing it, the cheaper and faster payments will get. And remember: they cost merely a portion of a penny already!One of the most interesting things this opens up is micropayments– theres not been enough discuss how exciting this prospect is, both financially and culturally.Its difficult to send out very tiny amounts of cash in our standard central payment systems. Depending on which service youre using and where youre sending to, you will not even have the ability to send 10 cents digitally. And this is for good reason: Very small amounts dont make sense because the deal cost itself might be larger than the amount youre sending.Lightning, on the other hand, makes it possible to send these small quantities digitally. And given that its a technology that exhibits network results, costs will drop even more as more individuals start utilizing it. You can digitally send fractions on the penny today through Lightning, and youll most likely be able to send out even smaller quantities in the future.Now, lets get to The New York Times. To understand why the NYT could make 50% more from Lightning growing, lets do some easy math.A few straightforward truths: The publication made $76 million in changed operating earnings in the second quarter of 2022. Lets estimate that the NYT made about $25 million in revenue in one month in 2021. There were 125 million monthly worldwide special visitors to nytimes.com in 2021. It had about 9 million subscribers in the 3rd quarter of 2022. Lets theorize that on average, there were 115 million visitors every month to the NYT who were non-subscribers in 2021. These non-subscribers can read an optimum of 5 posts each month.(Im going to be conservative with the math to not overemphasize how much the NYT wouldve made in a situation where a matured Lightning Network exists.)Of these 115 million visitors, some checked out two short articles, and some read the maximum of five. Usually, each of these visitors ends up enjoying one article monthly, and since its seamless and so simple to send out tiny amounts of money to the NYT thanks to Lightning, every visitor could wind up sending out 10 cents that month. That month, the NYT would have ended up making $11.5 million more. Thats 46% more in profit.The mathematics is imperfect and primary, however it understands across: Micropayments open a lot of capacity. And their benefits dont simply end at assisting content creators. They can also perpetuate cultural shifts and more, and Ive presented some examples listed below: Regular individuals being charitable.I think that many more folks, even if theyre struggling themselves, would more than happy to give $0.01 to the handicapped kid playing the clarinet on the street– if such giving was both possible.tipping and practical bus chauffeurs who are specifically sweet.Teachers sending small quantities of cash to students in the classroom who raise their hands and attempt to respond to questions.Kids who genuinely attempt get one cent, even if their response is wrong. If a kid gets it appropriate, congratulations! He/she gets five cents. (Remember instructors providing chocolates to trainees who got concerns right? Well, they cant turn up with chocolates all the time, so micropayments may be viable replacements!) You might wind up seeing a lot more hands in the air! Image from Teach for AmericaSo now, try to extrapolate the number of markets and sectors such micropayments might benefit and the subsequent contributions to GDP. Think of NYT staff members seeing their incomes go up. Envision them then spending this money on new things. And then envision the incomes of individuals they purchased from going up, too. And the process repeats, and here, we see economists beloved multiplier effect, which is amazing for the economy.Micropayments prompt spending in a completely new way, so to Bitcoiners: next time you explain Lightning, dont forget to speak about micropayments! Its most likely easier to digest than “scalability.”And to economic experts skeptical of bitcoin: I d think that you d like something like this because it encourages costs. Are you getting any softer on bitcoin yet?Paul Krugmans 2013 Article; Image from Decentralized TodayThis is a visitor post by Ram. Opinions expressed are completely their own and do not necessarily show those of BTC Inc or Bitcoin Magazine.

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This is a viewpoint editorial by Ram, a twenty year old trainee, soldier and storyteller.Image Credits: samchills on Flickr under a CC BY 2.0 license.To understand why the New York Times could have made so much more cash last year, its worth valuing micropayments in the context of the Lightning Network.We usually believe of Lightning as a Bitcoin scalability service as it makes daily payments in bitcoin feasible.”The network (Lightning) can also process millions of deals per second (TPS), which is far and above Visas capability for approximately 25,000 TPS. You can digitally send fractions on the cent today by means of Lightning, and youll most likely be able to send even smaller amounts in the future.Now, lets get to The New York Times. To understand why the NYT could make 50% more from Lightning developing, lets do some simple math.A couple of uncomplicated realities: The publication made $76 million in adjusted operating profit in the second quarter of 2022. On average, each of these visitors ends up taking pleasure in one post every month, and because its so simple and smooth to send out tiny amounts of cash to the NYT thanks to Lightning, every visitor could end up sending out 10 cents that month.