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5 sats \ 3 replies \ @028559d218 OP 6 Apr \ parent \ on: Thoughts on fees, blockspace utilization, BRC20s and What's Going On bitcoin
If a block is ~ 4000 transactions...
and only half of them are Lightning-Channel-Openings that means around 2000 Channel-openings per block.
2000 x 6 or 12,000 openings per hour. or 288,000 opened channel a day right?
Or ~ 2,016,000 Channel Openings a week. Assuming most of those channels get opened and stay open, and On-Chain's Primary use-case is 'opening channels'...
Then like 100 Million channels can be opened a year at ~ 2000 channels per block. Let's say it's less than that and 'half' of that... so like 50 Million Channel-Opens a year.
That's 50 Million individuals with at least one lightning-channel opening which is more than enough to create a circular economy or Lightning-usage of significant scale. Add to that JiT Channels, Fedimints for small amounts etc etc... There should be tons of people using Lightning and there's tons of capacity.
Where is everyone?
Where is everyone?
People are retarded and using tether and stablecraps...
Also take in consideration PRIVATE LN nodes, that you do not see in public graph.
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I remember... I've read your guides (although I don't understand everything honestly)
My point is, tether and stablecraps aren't derived from energy. They're just paper.
And the 'tokens' and NFTs people burned serious Bitcoin on are worthless.
Fees are like 1 sat/vB blocks should be full of Lightning channel openings
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Fees are like 1 sat/vB blocks should be full of Lightning channel openings
Indeed. Take in consideration here:
- many channels now are using taproot openings, so hard to "see" them
- people already have open enough channels, from a long period of low fees.
- not so many new users are using LN nodes. Mostly are still using crap custodials and newly ecash. So that is only moving custodial credits between custodials, not real sats.
LN is far from large adoption, because again... people are retarded.
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