0 sats \ 4 replies \ @AngeloMetal 3 Nov 2022 \ on: Onchain is actually pretty cool 😎 bitcoin
Cool. Now pay 100x in fees.
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5 sats \ 1 reply \ @nullama 4 Nov 2022
Someone just sent 2.71238570 BTC($55,116.52) with a fee of 4,316 sats ($0.88)
I don't know why people say BTC fees are high, when the data is just there showing it's super cheap.
And actually that transaction overpaid the fees, it could have been included in the block by paying half that amount...
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0 sats \ 0 replies \ @AngeloMetal 4 Nov 2022
I didn't say on-chain fees are high. I just said they're about 100 times greater than with Lightning.
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100 sats \ 0 replies \ @Majjin 4 Nov 2022
Higher fees than lightning: Yes Slower than lightning: Yes Less privacy than lightning: Yes
Can send absurdly large amounts of capital: Yes More reliable than lightning: Yes Can receive payments while offline: Yes
Both lightning and on-chain are Bitcoin: YES!
There are trade offs and use cases for both. However, I think we both agree that both are vastly better than the fiat system we have today.
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0 sats \ 0 replies \ @samsamskies 4 Nov 2022
Sending large lightning payments can be more expensive than sending an onchain payment for the same amount. Happens to me all the time. Sometimes I don't mind paying more for the increased privacy and instant settlement though.
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