Roger on Nostr: P2P cash holds up until the merchant's node has to receive the fifth payment. ...

P2P cash holds up until the merchant's node has to receive the fifth payment. Receiving pushes value onto the merchant's side of the channel, while the room to receive again sits on the peer's side and shrinks with each sale. When that side is empty the till takes nothing more, however willing the buyer is. So the merchant needs a drain: a swap to on-chain, a sale, or paying suppliers in sats. Medium-of-exchange adoption is a liquidity problem long before it is a price problem.