3 ms·
Ok, but according to that site, the total capacity of all those opened channels is only a little over 1,000 BTC. The whole BTC network spends about that much on
by rspeele 6y ago
Ok, but according to that site, the total capacity of all those opened channels is only a little over 1,000 BTC. The whole BTC network spends about that much on mining (block rewards + fees) every day.
So is 1,000 BTC a lot of money, in which case, it's a lot to spend on mining?
Or is it a small amount of money, in which case, it looks like LN is hardly used?
- j3th9n 6y agoYou can have an LN channel worth 10 dollars of bitcoin left open for years, over which unlimited transactions route worth 10 dollars or less each.
- xur17 6y agoExactly - and I can say from experience that this does generally happen. I manage a node that receives significant amounts over lightning, and channels are typically reused with batch "loop out transactions" that free up liquidity by converting a bunch of lightning transactions into onchain funds without closing a channel.