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 Reason077 on Friday June 25, 2021 @05:24AM (#27628674)

If you’re distributing $180m in Bitcoin to 6 million wallets, do you pay transaction fees (currently about $6) once, or 6 million times?

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Re:El Salvador to airdrop $30 in Bitcoin to up to 6M citizens by justsomeperson on Friday June 25, 2021 @08:33AM (#27629923)

if you send them all as a single transaction i.e one transaction with 6 million outputs, you would pay 1 transaction fee. However I dont think that is what is happening here. All the transactions are likely to made on the lightning network, which is a layer on top of bitcoin, designed to facilitate smaller transactions with lower fees.

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Re:El Salvador to airdrop $30 in Bitcoin to up to 6M citizens by bruce343434 on Friday June 25, 2021 @12:10PM (#27632609)

> All the transactions are likely to made on the lightning network

How?

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Re:El Salvador to airdrop $30 in Bitcoin to up to 6M citizens by lalaland1125 on Friday June 25, 2021 @11:42AM (#27632186)

Transaction fees are per byte of data so you would be paying a huge fee.

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Re:El Salvador to airdrop $30 in Bitcoin to up to 6M citizens by awestroke on Friday June 25, 2021 @05:27AM (#27628694)

Somewhere in between. You pay per byte.

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