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A comment on Cambridge Bitcoin Electricity Consumption Index. Parent comment

Re:Cambridge Bitcoin Electricity Consumption Index by rspeele on Wednesday February 10, 2021 @02:57PM (#26093873)
Ok, but according to that site, the total capacity of all those opened channels is only a little over 1,000 BTC. The whole BTC network spends about that much on mining (block rewards + fees) every day.

So is 1,000 BTC a lot of money, in which case, it's a lot to spend on mining?

Or is it a small amount of money, in which case, it looks like LN is hardly used?

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Re:Cambridge Bitcoin Electricity Consumption Index by j3th9n on Wednesday February 10, 2021 @03:07PM (#26093991)
You can have an LN channel worth 10 dollars of bitcoin left open for years, over which unlimited transactions route worth 10 dollars or less each.
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Re:Cambridge Bitcoin Electricity Consumption Index by xur17 on Wednesday February 10, 2021 @04:05PM (#26094781)
Exactly - and I can say from experience that this does generally happen. I manage a node that receives significant amounts over lightning, and channels are typically reused with batch "loop out transactions" that free up liquidity by converting a bunch of lightning transactions into onchain funds without closing a channel.
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