Re:Goldman Sachs Report Explores Use of Bitcoin as Currency
by mulmen on Monday January 15, 2018 @10:25PM
(#16155553)
Honest question: how does any of that help with transaction fees?
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Re:Goldman Sachs Report Explores Use of Bitcoin as Currency
by tananaev on Monday January 15, 2018 @10:53PM
(#16155679)
With Lightning Network you pay fees once to create a channel and then you can use that channel to make smaller payments for very low or even no fees. Channel can stay open for a very long time (e.g. a year). So, you end up paying single Bitcoin transaction fee instead of hundreds, and it also reduces load on the Bitcoin network freeing the block space lowering fees even more.