Jaike, the founder of AirBTC, is pioneering a revolutionary approach to travel and accommodation. By leveraging bitcoin as the exclusive currency for bookings, Jaike is not only transforming the travel industry but also spearheading a broader movement towards decentralized finance.
With a profound interest in Austrian Economics and a deep understanding of bitcoin’s transformative power, Jaike has created a platform that is as much about redefining travel experiences as it is about reimagining the future of money.
First Steps into Bitcoin
- What initially drew you to the world of Bitcoin and the Lightning Network?
I am a bitcoiner since 2018 and am tremendously interested in Austrian Economics and how bitcoin impacts the real world; the changes that it brings within individuals, and also societies. I can’t wait to see the impact it will have on the global economy when bitcoin adoption reaches scale. 
Lightning is the most incredible technology I have witnessed. When I first used the lightning network it felt like magic. Still to this day I am stunned by the ease, speed and utility of Lightning. The increases in usability and user experience over the last year has also been incredible. I cant wait to see what this space looks like in 3 years.
Overcoming Hurdles in the Space
- What was the most challenging aspect of getting started in this space?
Obtaining the relevant knowledge to be able to communicate on the same level with seasoned bitcoiners was a big obstacle. It would take probably 500-1000 hours of research in my opinion. The field is just so incredibly broad. From cryptography to programming to network effects, economics, money, philosophy, I could go on.
- What are some common misconceptions about the Lightning Network that you encounter?
By far the biggest misconception I would say is ignorance about the network from the general population. I have heard hundreds of times that bitcoin cannot scale as a payment method because the network is too slow and expensive and can’t handle high transaction volume.
I categorize these people into two categories: Lightning Network deniers, and people who are still ignorant about the technology.
- Can you discuss some of the technical challenges you’ve faced while building on Lightning?
Back in 2023 when I first started building and testing it was incredibly difficult to find someone to help me and also very difficult to just find information about how to do it. Back then I had to set up and run my own lightning node and manage channels.
This was a challenge and quite time consuming for me at the time, and not at all practical for a vendor. Luckily, all those problems are solved now and it has become very easy for any vendor to accept lightning. Only a few smaller issues remain, such as bookkeeping across different wallets, accounts and currencies.
Building on Lightning
- What are the most exciting use cases for the Lightning Network that you’ve seen or worked on?
I just love the concept that anyone in the world can download an app and start receiving funds immediately from anywhere else in the world. I dont think many people, including within the community, understand the full value of this.
Compare that to opening a bank account, not to mention receiving payment from another country in another currency. In traditional finance it could take weeks, and with all fees and currency conversion costs included often costs up to 12%, or even more, of the transaction amount.
- How do you approach user experience in your projects?
At Airbtc, the payment part of our user experience is seamless. For us, its all about making it easy for our users to list or book a property on our platform. We have big plans to build an entirely new booking platform from scratch, reimagining a user’s experience from first principles. Establishing a feedback loop with your customers is very important.
- What are some of the biggest challenges currently facing the Lightning Network?
I have to say I am quite pleased by the growth and progress in this space, it serves as a shining example of spontaneous order as described by Hayek. In my opinion the biggest problem is regulation in certain jurisdictions that complicate the process, however, spontaneous order is solving that as well.
- How do you see collaboration between different builders in the Bitcoin space evolving?
In my experience most people, like 95%, in this space are very open to collaboration and working together for our greater goal, worldwide bitcoin adoption.
There are some assholes that I have come across, but then I just move on. There are tons of other great people in the industry to work with and who will be excited to work with you.
- Are there specific sectors or industries that you believe will benefit most from Lightning solutions?
I hope lightning can bring prosperity to the poorest areas in the world by giving them access to non inflatable money, but the process of adoption is very challenging.
It is great to see so many projects popping up in Africa, but adoption levels are still miniscule. I admire the people on the ground doing the hard work to educate and onboard people in the real world.
- Are there any emerging technologies or trends that excite you in this space?
There is a new company in South Africa called Orange. They have a very interesting and potentially groundbreaking technology where you can pay in lightning to any fiat bank account and the funds show up immediately and at very low cost. They are alpha testing at the moment, but look out for them in the future.
- What advice would you give to newcomers looking to contribute to the Lightning ecosystem?
Just start doing something right now. If you have an idea in your head and you are reading this, act on the idea immediately, you don’t have to wait. Start a Telegram group or Github repository or X or NOSTR account for your project right now. Just do something and see what happens.
Influences and Community Feedback
- Who or what has been your biggest influence in the Bitcoin community?
Saifedean has been by far my biggest influence, not just in this space but in my entire life. I never miss an episode of The Bitcoin Standard Podcast. I have signed copies of all his books displayed behind my desk.
- How important is community feedback in shaping your projects?
Insanely important. Without feedback you could never know what is wrong or what to improve on. It’s the first step.
- If someone wanted to get started with using the Lightning Network today, what would be your top recommendation for them?
I think the most important factor is to make it as easy as possible for them. Whatever lightning wallet or software is most accessible in their region, just download it and start using it. Newbies don’t (and shouldn’t) worry about things like self custody and privacy on their first day, just show them things that work and are easy to use.
What’s Next?
- Where do you see the Bitcoin Lightning Network in five years?
If progress remains at the same pace, in 5 years everything will be lightning:)
- What advancements do you think are necessary for mainstream adoption of Lightning technology?
Education and orange pilling people on the ground.
- In one sentence, how would you summarize your vision for the future of money with respect to Bitcoin and Lightning?
End Central Banking Forever.
- Finally, what’s next for you personally, and how can we support your journey moving forward?
We are working very hard to scale AirBTC and become a profitable company. We need as much exposure as possible and we need more listings and more users.
Any share or mention of Airbtc is and would be highly appreciated. We are also open to collaborations and partnerships. We want to hear from you if you have any recommendations or ideas!
