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my research, I learnt that the Bitcoin Lightning Network facilitates micropayments between two parties as a way to reduce congestion on the main blockchain and expedite transactions. But how is it actually manifested in real life? So I tested it out myself by employing the following steps.
1) Download sMiles app, an app that rewards you for walking. It is even available on the Apple Watch! Or if you wish to support a fellow crypto hustler, here's my referral link: https://join.smilesbitcoin.com/CryptoSensei783
2) Download Wallet of Satoshi, which claims to be "the world's simplest Bitcoin Lightning Wallet". It certainly lives up to its name. I think it is developed by an Australian team because the App store attributes this to be "from the makers of Australia's original and most trusted bitcoin bill payments service, Living Room of Satoshi". Fun fact: Australia is currently ranked second in a list of top crypto countries. (The distinction belongs to my humble country, Singapore!) I think it's amazing how crypto helps us to employ innovations from talented and determined crypto developers from all over the world. Money is a universal language.
3) Sync your Healthfit with the sMiles app and start walking! Honestly speaking, I wasn't comfortable with the sMiles app collecting my location data 24/7, so I set it to collect it only when I was using the app. But this meant that I had to open the app at least once a day.
4) But opening the app was fine with me anyway because I wanted to spin the wheel - seemed to be available every 12 hours - and play chess. Now, I am an amateur chess player, so sMiles really boosted my ego by letting me win as much as 8 satoshis (henceforth known as sats) for an Easy chess game! The objective was to accumulate 100 sats to be eligible for a payout.
5) Reach 100 sats and click on "Send sats" on the sMiles app. It would prompt you to open the Wallet of Satoshi app. I pressed "Add Custom Account" to input 100 sats and tapped the QR code to create a Lightning invoice.
6) Accept the processing fee of 1 sat and wait for 99 sats to be deposited into the Wallet of Satoshi.
7) Cheer inwardly when you witness a successful Lightning Network transaction!
8) Groan and feel a lump in your throat when you realise that you have to repeat this process another 79 times because you need to accumulate 8000 sats before you can withdraw it from Wallet of Satoshi to another micropayment wallet like Faucet Pay.
Final Thoughts
I guess monetising my walking isn't as simple as it sounds as it involves some patience and perseverance in order to execute a successful withdrawal from the Wallet of Satoshi. Nonetheless, I am an avid walker and regularly clock at least 10,000 steps a day, so why not get a teeny-weeny bit of endorphins from doing something that I am already doing, right? It took me about 3-4 days to gather 100 sats.
I am also comfortable with selling my location data to the sMiles app. Will probably stop honing my Chess game in favour of other pursuits though! All in all, I found my engagement with the Lightning Network to be fun and invigorating. Great to do something different once in a while.
