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It doesn't take $100 to transfer. Fees are currently around $1. You are off by a factor 100! Also, Bitcoin can process far more than 7 tps through the Lighting
by mrb 1y ago
It doesn't take $100 to transfer. Fees are currently around $1. You are off by a factor 100!
Also, Bitcoin can process far more than 7 tps through the Lighting network.
I wonder where your misconceptions come from?
- beeflet 1y ago>Fees are currently around $1. Fees are CURRENTLY around $1 because no one is using the L1 network. There is no demand now because of all of the times when the transaction fees were $30. >Also, Bitcoin can process far more than 7 tps through the Lighting network. The lightning network is insecure during periods of high demand because you aren't able to safely close channels. Also, you still need to fund channels on L1 in the first place!
- daveguy 1y agoAgreed. Currently is the key there. I was referring to whent a run starts. It's been at $100 before and we haven't even seen a serious run yet. $100/tx is the "every few years" rate.