How the Bitcoin lightning network can help street artists

Frank van der Beek
Chief Editor

Bitcoin adoption and specific industries just go hand in hand. Because Bitcoin can improve so many industries and even the environment. Of course, some simple examples of this are all industries that need heat creation or generate energy. But on a smaller scale, Bitcoin can also help many people through its cheap and fast peer-to-peer transaction network. The street artists are one group that hasn't started using a lot of Bitcoin lightning transactions. I myself haven't found a lot of them that accept Bitcoin. However, street artists and musicians could benefit a great deal from adopting Bitcoin and a lightning wallet to earn a bit more money while they perform. But also to benefit from micropayments and micro-donations, that take place in the lightning ecosystem. 

Nobody has cash anymore

You might have had this before. You are walking down the shopping street in your city/town where a great street artist is performing. Their skills impress you and you would like to contribute by giving them some money. However, just like me, you never have any cash with you, and thus can't give anything to this great artist. It's a shame as you would have liked to give something and the artist misses out on a small, or big donation. 

Some artists try to solve this by having a card in front with their Revolut or Paypal account, to which you can donate. However, the problem with this is that the fees on these platforms and the exchange cost they come on top of it when you are paying with a foreign currency are simply too high. Making it a much worse alternative to cash. 

Instead of relying on cash or digital third parties to collect their earnings. Street artists could instead take control of this themselves by accepting Bitcoin over the lightning network. Not only would they directly receive the money themselves. But they would also have it online. Thus taking away the need for cash payments.

No one steals your cash anymore

Not that it happens all the time. But many street artists have definitely had the experience of not people putting money in their hats but instead taking it out. Thieves still roam the streets of most large cities and most will be active in the same areas where artists perform. Because of it, you should have too much money laying spread out in front of you. Because the change that someone grabs the cash is present. 

For this simple problem, digital payments can help solve this issue. By simply accepting Bitcoin, which only exists digitally, you as an artist won't have to worry about someone walking by and grabbing your Satoshis. They simply can't. Accepting Bitcoin as a form of donation can thus protect you from theft and increase your earnings. 

Although we might want to believe in the good of all people. Having this extra layer of protection in place can protect us without having to sacrifice any other benefit. 

Donation addresses can be used offline as online

In a world where (almost) nobody uses cash anymore, having a lot of it seems annoying or pointless. Because of this, you would want to convert your cash to an online form of money. So you can use it for digital payments and simple comfort. To do this you would need to deposit the cash at a bank. Not only can fees be charged for depositing money but also for all the other services around it. Services like exchanging, transacting, or simply having a bank account. 

The fees of these services can decrease the net earnings of an artist. This is a shame as it would be for anyone that has to pay an extra form of tax on their earnings. With Bitcoin, you won't have this same issue. Your earning would be online from the very start and if on the Lightning network, your usage fees will be so small that you won't even see them. So your account/wallet won't cost you anything, transacting is basically free, and if you want you could easily earn interest on it as well (through certain 3rd parties).

If an artist keeps their earnings in Bitcoin they would not even have to pay an exchange fee. As we see that most crypto exchanges charge a fee of around 0.1% or lower for swapping from crypto to fiat currencies. 

People can donate any amount they want

The easy thing with Bitcoin donations is that you can make them as big or small as you would like. Most people that give to street artists stay in a range between 1$ and 20$ (or any local equivalent). This is because of several reasons but also because giving much more than that can be risky and less very inconvenient. 

Bitcoin can help here as the size of the donation is not convenient at the moment or what anyone carries with them. Not only is it easier to donate bigger amounts as no one can see what a person gives. It makes it also much easier to donate small. Micropayments to artists when paid in cash can be very annoying. Having all those 1 to 5 cents coins usually only brings in more work. But when they are paid in Bitcoin more often they can be summed up and used directly after. Especially now with the rise of the Lightning network and many people earning small amounts of Bitcoin using wallets like Zebedee. These small amount people earn by playing games and completing tasks are perfect to donate to artist or crowd funders and is something that we ourselves like to do a lot. 

Protected money

Bitcoin simply brings a lot of benefits to its users whether it is for street artists/musicians or if it is transparently within a government. So besides the things that we mentioned before. It would be a good idea to also get familiar with the other use cases for Bitcoin. So you won't have to rely on the traditional financial system and safeguard yourself against inflation. 

Over time I do expect to see more adoption of Bitcoin as more and more people get their hands on it. Whether through games, tasks, or by buying some BTC. Once you have it you can easily use it and spend it on anyone in the ecosystem. This goes for a street artist that you find in your city but also for when you see any musician online and you would like to donate to them. They could even use the same lighting address so that they can keep it all in one easy-to-find place. 

Final: Need help with adopting Bitcoin?

If you are new to Bitcoin and ended up on our page and are left with some questions. Feel free to contact us and follow our socials. So we can reach out. And answers all your questions, in our blogs or socials.

Author picture
Frank van der Beek
Chief Editor

Frank van der Beek is the chief editor and founder of Frank is passionate about blockchain technology and its potential to empower individuals. Through Yada On The Block, he seeks to educate readers about the latest developments in the industry and help with the further adoption of Bitcoin.

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