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0 sats \ 9 replies \ @OT 12 Aug \ on: A Real SPAM solution: People using Bitcoin bitcoin
I will outbid these worms if I have to. Truth is that with LN you just don't need to use onchain that much.
Lightning increased the number of people who can use Bitcoin by 100x.
However that still means opening Lightning channels, and with 8 billion people, even 1% of which or 80 million using Lightning semi-regularly...
Blocks should be teeming with channel opens. Even .1% that's 8 million using Lightning regularly so blocks should be full from Lightning usage even if it's 100 transactions per one channel open.
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Many (most?) people use custodial lightning... so no channel openings, just updates in WoS database.
Does that still qualify as Bitcoin/Lightning?
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Exactly. So, we're still at very low LN adoption numbers, in your book.
(I do use WoS, Phoenix, Albyhub, coinos, and a few other custodial and non-custodial wallets, depending on my needs... but other than an occasional top up, I never had to open a channel beyond the moment I set up the wallet)
Even .1% that's 8 million using Lightning regularly so blocks should be full from Lightning usage even if it's 100 transactions per one channel open.
So, we're still very far from these numbers... including both "real" and "fake" LN users considerations in the equation.
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it's true: unless you have a sats flow that is unidirectional, mostly it's taking in sats and breathing them back out. One channel can last for a pretty long time.
I see the lack of fee-pressure as a sign that we aren't growing the user base of bitcoiners, not necessarily that the user base we have is apathetic.
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I see the lack of fee-pressure as a sign that we aren't growing the user base of bitcoiners, not necessarily that the user base we have is apathetic.
That's well put. Growing the 'user base' of real Bitcoiners is really important... after all self-custody comes with overwhelming benefits and education that 'custodial' arrangements don't have and can't create. I believe that one day we'll have "hyperbitcoinization" and although it will be a minority, the number of people self-custodying will be enormous and sustainable.
So, we're still very far from these numbers... including both "real" and "fake" LN users considerations in the equation.
We'll get there eventually
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