Onchain or Lightning \ stacker news ~bitcoin

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216 sats \ 30 comments \ @grayruby 5 Feb 2023 bitcoin

Wondering how often you guys are using onchain vs Lightning.

I have noticed over the last 6 months or so how my use of lightning has grown exponentially. I still use onchain 7 or 8 times a month but using lightning daily or even multiple times per day now.

How about you?

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77 sats \ 0 replies \ @blogelist 5 Feb 2023 freebie

Only on-chain. Lightning will be new and used for web3 projects. The positive fact is, that I found more and more with LN.

15 sats \ 1 reply \ @blockguard 5 Feb 2023

Onchain for bigger amounts and lightning for smaller amounts.

So yes, lightning is for daily use. Onchain something like couple times in a year.

0 sats \ 0 replies \ @grayruby OP 5 Feb 2023

Wow only a couple times a year? I send sats to cold storage weekly. I am daily DCAing.

10 sats \ 0 replies \ @paisal_alby 6 Feb 2023

I use Lightning for small amount e.g. < $40. For large amount I prefer onchain transaction.

10 sats \ 0 replies \ @Oxjogir 6 Feb 2023

I now only use Lightning Network and I keep On-Chain the BTC I am HODLing.

I do not see the advantage to transact On-Chain. Unless somebody can point me one.

10 sats \ 0 replies \ @kristapsk 6 Feb 2023

Whenever possible, I always prefer Lightning.

10 sats \ 0 replies \ @l0k18 6 Feb 2023

Why would I want to wait 4 confirmations before I can trade my sats for cuckbucks?

If there was more things I could buy with sats I wouldn't even need to do that trade at all.

We are so early.

10 sats \ 0 replies \ @TheBTCManual 6 Feb 2023

I only use on-chain to push to cold storage and my LN is around apps like SN, Nostr and just trying out all the apps that are starting to roll out support for it

10 sats \ 0 replies \ @nullama 6 Feb 2023

on-chain feels like the future of money and lightning feels like magic.

10 sats \ 0 replies \ @Jbana 5 Feb 2023

Pretty much on chain for anything not peer to peer such as my DCA etc.

All other usage is LN

10 sats \ 0 replies \ @TheL0wner 5 Feb 2023

i use lightning more often than I used to but still probably use on-chain more. I expect that to change as retail pos use of the lightning networks grows.

10 sats \ 6 replies \ @2bithits 5 Feb 2023

Mainly onchain.

When I'm buying coffee or something similar I use lightning.

Onchain tx in this environment are as cheap as they get (110sats).

0 sats \ 5 replies \ @AJ1992 6 Feb 2023

With a 110 sat fee you'll be waiting 5-6 blocks for a confirmation. Stop lying and spreading false information please. Go look at mempool.space they are always spot on with their fee recommendations...

And nonetheless, even if it was only 110 sats, that's still expensive to some people when you can do the same thing, not have to wait an unknown amount of time for a confirmation, and not have to pay ANYTHING to transact and get a confirmation with other cryptocurrencies..

0 sats \ 4 replies \ @2bithits 6 Feb 2023

Who's lying?

I pay 110sats all the time. If you need it in the next hour pay 130

Like I said for coffee or something that needs instant settlement I use lightning

Why you crying? Are you sh$tcoining?

0 sats \ 3 replies \ @AJ1992 6 Feb 2023

Where in this comment am I "crying?" Do facts that you can't argue against turn you into a bully that has to insult people? Lemme guess, you're a MAGA retard.

0 sats \ 2 replies \ @2bithits 6 Feb 2023

Haha

There are people who don't live in America you know.

Don't really have time for this, but if you come on a bitcoin focused platform & start with this BS what can you expect?

As for the fees, all other "cRyPt0" are almost free because that's their marketing gimmick to attract ignorant people. They are not scaling. Talk again when they are.

BTW who can't afford 110 sat (3c) fees? In America y'all can

0 sats \ 1 reply \ @AJ1992 6 Feb 2023

The fees aren't 110 sats though if you want a confirmation in the next block... And yeah, people are greedy, if they can send the same fiat amount in a different cryptocurrency for free and get a confirmation instantly or way quicker than BTC, they will. That's the issue you all fail to realize.

0 sats \ 0 replies \ @2bithits 7 Feb 2023

Which sh$tcoin?

How about the security? That's what you're paying for when you transact with bitcoin

That's another thing you don't seem to understand

10 sats \ 0 replies \ @dustin 5 Feb 2023

Lightning wherever I can, but some places/people only accept on chain. Also in NY USA it is difficult to on/offramp with LN. I was hoping for something like cash app to fix this, but LN service is available to all states except NY in that app. So if I want to fund my lighting, I need to fund on chain like USD->BTC->LN. I imagine some services offer straight USD->LN.. just not here. I assume due to the Bitlicense.

10 sats \ 2 replies \ @k00b 5 Feb 2023

Excluding my SN usage ...

I use Lightning a couple times a week to pay friends for stuff. I pay my office rent on-chain monthly.

10 sats \ 1 reply \ @grayruby OP 6 Feb 2023

Very cool that you can pay your rent in Bitcoin. I need to spend more time in Texas. Sadly only a couple months a year and the rest of my time I am in the communist republic of Canada.

0 sats \ 0 replies \ @AJ1992 6 Feb 2023

The day I ever step foot in Texas will be a cold day in hell. Can't wait until it either turns blue or we give it back to Mexico.

10 sats \ 7 replies \ @siggy47 5 Feb 2023

Same here. I really only use on chain for transferring my sats to cold storage. Everything else is LN.

20 sats \ 0 replies \ @grayruby OP 5 Feb 2023

Yup. Transfer to cold storage, transfer to my kiddos (in lieu of allowance) is pretty much all I use onchain for. My oldest has a zebedee wallet, so lately I am also using lightning as well to give him little tips 100 sats, 1000 sats etc for being helpful around the house.

0 sats \ 5 replies \ @AJ1992 5 Feb 2023

Same. I avoid on chain BTC like the fucking plague. Too volatile, and I don't have time to wait an unknown amount of time for confirmation either.

46 sats \ 1 reply \ @Eximpius 5 Feb 2023

Why do you like telling everyone how dumb you are?

0 sats \ 0 replies \ @TheL0wner 5 Feb 2023

https://external-preview.redd.it/Ykuzz7SF0XcnJvyrbzp_PADM7mWw3Kk3FtbWFqDn7kI.jpg?auto=webp&s=246c9a32d10510c6959464fdb3b426c35ba1390a

0 sats \ 2 replies \ @thebtctotoro 6 Feb 2023

' Dont have time ' 🤔

0 sats \ 1 reply \ @AJ1992 6 Feb 2023

Yeah, I don't. Sorry, I don't have time when transacting cryptocurrency to wait sometimes up to an hour for a block to be mined and get a confirmation. I'm not patient because what I am doing is time sensitive. This is why I use other cryptocurrencies if lightning isn't an option that generate blocks more frequently and the wait time is almost non-existent or five minutes for a confirmation. This is a problem with layer one Bitcoin. You all know it and is where BTC Is not king.

0 sats \ 0 replies \ @l0k18 6 Feb 2023

They trade that convenience for rapidly centralising validators instead. LN makes it irrelevant anyway.