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Right now, doing a Bitcoin transaction costs $0.97, so it's already false. If you are willing to wait ~48 hours for confirmation, it can cost as little as $0.15
by crazypython 5y ago
Right now, doing a Bitcoin transaction costs $0.97, so it's already false. If you are willing to wait ~48 hours for confirmation, it can cost as little as $0.15.[0]
Furthermore, the system in question is not Layer 1 Bitcoin, but Layer 2 Lightning. To use Lightning, one must perform a Bitcoin transaction to open a channel– akin to opening a bank account– which provides access to the entire lightning network.
I find opening a bank account for less than a dollar very attractive.
That being said, layer 2 fees exist as well– you must pay someone, usually a hub, to securely lock some amount of Bitcoin to a channel so that you may transact. (Note that the secure lock isn't a security deposit; a channel be closed with funds returned without any third-party trust.)
[0]: https://mempool.space/ https://mempool.space/