Re:El Salvador to adopt Bitcoin as legal tender
by lottin on Monday June 07, 2021 @06:05PM
(#27427763)
Yes, it's probably heavily subsidised so I expect fees to grow substantially if it becomes more popular. And the thing is the small fee is not the only fee that there is to pay. Apparently in order to open a "channel" the user needs to pay one BTC confirmation fee and another one to close it, but bitcoin enthusiasts somehow never mention this detail.
[ Parent
| on HN ]
Re:El Salvador to adopt Bitcoin as legal tender
by incrudible on Tuesday June 08, 2021 @05:05PM
(#27440779)
> Yes, it's probably heavily subsidised so I expect fees to grow substantially if it becomes more popular.
Transactions on the lightning network aren't scarce like space on a new block, so there's no reason for increased demand to substantially increase prices.
> Apparently in order to open a "channel" the user needs to pay one BTC confirmation fee and another one to close it, but bitcoin enthusiasts somehow never mention this detail.
That isn't true. You can open channels larger or smaller than 1BTC and the Bitcoin aren't really "paid", but rather "staked".