It looks they have ran out of confirmed UTXOs, because they consolidation transactions haven't confirmed for a week. I bet they don't have neither RBF nor CPFP implemented at their side. https://twitter.com/mononautical/status/1655243938465284099
I mean they absolutely should set up lightning, but at this point wouldn't they need tonuse the currently congested network in order to get them off-chain anyways?
Yes they would but they could create Wumbo channels with a payjoin and create multiple channels at once, pay the fees and then start routing to recoup that channel open cost
Adding lightning is the logical choice if they want to serve customers better. But I don’t think they care and might even think it’s better to lock up users’ funds. More paper bitcoin for them and more fractional reserve on their bitcoin holdings.
It looks they have ran out of confirmed UTXOs, because they consolidation transactions haven't confirmed for a week. I bet they don't have neither RBF nor CPFP implemented at their side. https://twitter.com/mononautical/status/1655243938465284099
running the bitcoin equivalent of cobol over there, like all the banks
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Binance is Cancer.
Wen Lightning
Don't use Binance
Imagine opting to lock up user funds rather than run an LN node, how pathetic must you be?
I mean they absolutely should set up lightning, but at this point wouldn't they need tonuse the currently congested network in order to get them off-chain anyways?
Yes they would but they could create Wumbo channels with a payjoin and create multiple channels at once, pay the fees and then start routing to recoup that channel open cost
Not your keys, not your coins.
Adding lightning is the logical choice if they want to serve customers better. But I don’t think they care and might even think it’s better to lock up users’ funds. More paper bitcoin for them and more fractional reserve on their bitcoin holdings.
Lightning
Im a binance user (for their low tx fees) but i guess I need to find a new home .... possibly go back to Kraken?
450sat max
Damn, getting zapped 10 sats gets me excited 😂
I wonder how long these high fees would last.
longer than you can imagine!
The miner is now 35% faster and can spend them on commissions always))))