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0 sats \ 4 replies \ @justin_shocknet 17 Jul \ on: When Will We No Longer Need the L2? bitcoin
delete this AI slop, some of the more embarrassing slop on the subject I've seen as a slop connoisseur
Confirmation time hasn't changed, it's always targeted 10m and always will.
Lightning will always be needed for instant settlement.
Payment channels also pre-date Lightning as it is known, re-usable transactions are an indelible part of Bitcoin.
The 10 minutes was fast, as compared to bank settlements. Especially cross-border transactions.
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In its early days, transactions were fast
So are they not fast now?
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It depends on your feerate. 1.00sat/vB is like going gambling, sometimes you get 1-2 confirmations within 20 minutes, othertimes you dont get any in 8 hours. Same speed but wildly inconsistent unless you want to spend a rather significant amount of your stacked satoshis on fees each time.
600 satoshis per TX for "guaranteed" confirmations, while minimum wage in the U.S. is 6,000 satoshis per hour is a bit high right?
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They still are fast. But with LN, they're lightning-fast. The fastest
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