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RE: Understanding Lightning in Simple Terms and What It Means for YOU + GET 100SP delegated to you!

in #bitcoin6 years ago

you have to pay fees to open a lightning channel. Not so bad if it's $1 per transaction, but if it's $40 like it was in December, it will be a real killer. Better to use second layer with Bitcoin Cash, where fees are less than 1c per transaction, in my opinion.

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You would need some type of segwit to use LN. Bitcoin cash refuses to add segwit stated in their site. Plus bitcoin cash supporter say LN violates the whitepaper and all bch dev are researching way to increase the block size, 1 tb is the goal. Plus segwit in bitcoin would make bitcoin do 10 tps with bech 32 making it 12 tps. Eth level. Plus segwit at random times can do 3 mb blocks so meaning 17 tps plus batching of transaction will make the meempool smaller and mast and other segiwt dependent protocols can make bitcoin do 200 tps in a 1mb block. Plus bitcoin will do a hardfork one day for bigger blocks