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You're clearly listening to the wrong people. It's usable for sure, but that doesn't mean billions of people can (nor want) to use it now. I'm using it just fi
by askmike 7y ago
You're clearly listening to the wrong people.
It's usable for sure, but that doesn't mean billions of people can (nor want) to use it now. I'm using it just fine.
- ppf 7y agoIt's less usable than it's parent blockchain!
- askmike 7y agoThat's subjective. It's a lot cheaper and fast to send money.
- ppf 7y agoWhat's the most I could send without network liquidity issues?
- askmike 7y agoI don't know the answers to this strange question. What's the most you can send to another bank account without compliance issues?
- ppf 7y agoLightning network is limited to the liquidity offered by channel operators. What is the current situation like?
- askmike 7y agoSituation is great, note that I operate my own channels and I'm not sending millions around every day.
- scott_s 7y agoWhat do you mean by "compliance" issues? If you meant that the sum of money you send cannot trigger someone, somewhere to check to make sure the transaction is legit, and we're assuming a transfer from a "normal" bank to another, then I would guess on the order of $10,000. But companies and organizations routinely transfer millions and billions between normal banks. Yes, the transactions may cause someone or many someones to investigate, but the transfers still succeed.
- askmike 7y agoWhat does OP mean with "liquidity issues"? Lightning is a routing network, and you can connect directly to your counterparty, circumventing all potential liquidity issues. > But companies and organizations routinely transfer millions and billions between normal banks Just like companies have direct lightning channels between each other, they can send billions of they please.
- ppf 7y agoYou're being disingenuous. A channel needs to be already funded before a transaction can happen, with an amount at least the size of the transaction. So, to transfer billions, you need billions more to first fund the channel. A quick search shows that most channels currently have less than $100 in them, limiting how much you can send without prior arrangement.
- askmike 7y ago> A quick search shows that most channels currently have less than $100 in them, limiting how much you can send without prior arrangement. Note that not all channels are public, so you won't find all in searches. I'm only saying that you shouldn't be worried about lightning liquidity if you can directly connect to your counterparty - as you can directly transact with that party without relying on any liquidity from anyone else.
- alwillis 7y agoMost LN apps recommend sending no more than $50 USD over the Lightning Network right now. That will increase over time.