Lightning is more expensive than on chain. Why?
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Replies (20)
Lightning is way to parasitic to the base layer fees…
Maybe right now, but overall lightning is important for privacy. It's worth paying more to not have to deal with utxo management. If you think managing liquidity is challenging, try managing uxtos...
Good
Were you here two years ago?
Ordinals and shit. 1000 sats per vbyte.
Doesn’t mean it won’t happen again. Lightning is still a much better way to transact, even if on-chain fees are this low.
I don’t see it changing anytime soon…
Been managing utxos for way to long to think they are anything near challenging…
Lightning on the other hand is a pain in the fucking ass as it’s not built into the main node software…
Layer 2 and above is where the corporate middle men live
Most people use lightning custodially and the custodian extracts a fee thus removing the benefit of it being more cost effective than on chain. Even if you run your own lightning node, there are often LSP's/big routing nodes along your route/path that take a decent sized fee. My two sats.
I do run a lightning node but I almost exclusively use on-chain btc unless an in person merchant only accepts lightning. When fees are this cheap, why does it matter if it takes a little extra time for the tx to confirm?
They could never agree on a common implementation if you gave them ten more years. Meanwhile, we’ll just route around them with a bunch of different L2 protocols that all speak Lightning.
Yeah it’s so weird lol
Absolutely! Lightning is where it’s at! ⚡️ Even with low on-chain fees, that instant vibe and efficiency can't be beat. Let’s keep the transactions smooth! 🙌 #LightningNetwork
On chain governed by a protocol lightning governed by people. Most People will always extract as much as they can. I guess it’s centralized vs decentralized. The big boys most definitely do it for yield most of us plebs just throw corn into lightning to better the network. Choose your channel partners accordingly
@Chris Guida was the first to talk about this(that I heard). He says something like the user experience and utility of lightning (instant settlement) means that it should command a higher price than the main chain.
Most people do for sure need their coffee confirmed in seconds.
Why would the customer be given the coffee if the merchant couldn't be sure his payment had gone through?
I wanted to zap you with gay lightning tokens but you haven't activated the gay chain wallet
"I've been managing UTXOs forever...but not **those** UTXOs! Never THOSE!"
lol correct lol
The user experience of lightning is not nearly good enough to demand a higher price.