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".
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".