El Salvador to airdrop $30 in Bitcoin to up to 6M citizens

Re:El Salvador to airdrop $30 in Bitcoin to up to 6M citizens by reilly3000 on Friday June 25, 2021 @05:17AM (#27628620)

I shudder to think of the transaction fees for sending money to 6M wallets.

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Re:El Salvador to airdrop $30 in Bitcoin to up to 6M citizens by char8 on Friday June 25, 2021 @05:19AM (#27628636)

done on lightning network, so very little indeed.

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Re:El Salvador to airdrop $30 in Bitcoin to up to 6M citizens by rocqua on Friday June 25, 2021 @05:24AM (#27628676)

Wait, lightning network is really cheap for moving money on existing channels, but channel openings still need to happen on-chain right? That would still mean one transaction per citizen to open their lightning channel. Or, at least, one output.

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Re:El Salvador to airdrop $30 in Bitcoin to up to 6M citizens by aaronhayes on Friday June 25, 2021 @05:18AM (#27628626)

Will be on lightning network. Essentially free

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Re:El Salvador to airdrop $30 in Bitcoin to up to 6M citizens by rocqua on Friday June 25, 2021 @08:33AM (#27629926)

Opening 6M channels on lightning is not free. Not at all.

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Re:El Salvador to airdrop $30 in Bitcoin to up to 6M citizens by gnrlst on Friday June 25, 2021 @05:19AM (#27628637)

Yikes, that's not going to be smooth.

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Re:El Salvador to airdrop $30 in Bitcoin to up to 6M citizens by h4kor on Friday June 25, 2021 @05:24AM (#27628673)

What's the problem with this? I thought lightning was invented to solve these kinds of problems?

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Re:El Salvador to airdrop $30 in Bitcoin to up to 6M citizens by aaronhayes on Friday June 25, 2021 @05:22AM (#27628660)

You've never used the lightning network have you?

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Re:El Salvador to airdrop $30 in Bitcoin to up to 6M citizens by bruce343434 on Friday June 25, 2021 @12:11PM (#27632624)

You clearly haven't

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Re:El Salvador to airdrop $30 in Bitcoin to up to 6M citizens by tffgg on Friday June 25, 2021 @05:35AM (#27628735)

Source?

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