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41 sats \ 3 replies \ @DEADBEEF 17 Aug \ parent \ on: What do you do with your SN Zaps? meta
Probably a really stupid question but I thought 1 sat was the smallest denomination of Bitcoin. How to millisats work?
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70 sats \ 2 replies \ @zapsammy 17 Aug
https://fanismichalakis.fr/posts/millisatoshis/ basically, millisats are valid on the lightning network, not on the mainchain.
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20 sats \ 1 reply \ @DEADBEEF 17 Aug
Thank you for sharing that. Millisats make a lot more sense now.
This was the part that I was missing:
Upon closure, the amount of funds you own in a channel is rounded to the nearest satoshi. Got 100,011.430 sats? That’s 100,011 sats when you go back on-chain. Where did the 430 millisats go? They were simply pocketed by your peer on this channel, because his amount was something like 36500.570 sats, which is rounded up to 36501 sats in the channel closing transaction
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10 sats \ 0 replies \ @Satosora OP 17 Aug
I didnt know that either.
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