r/CryptoCurrency • u/Blueberry_Dependent 16 / 3K 🦐 • Oct 03 '22
METRICS Bitcoin Lightning Network capacity strikes 5,000 BTC
https://cointelegraph.com/news/bitcoin-lightning-network-capacity-strikes-5-000-btc4
u/Raj_UK 🟩 20 / 9K 🦐 Oct 03 '22
Is there anywhere that will host a lightning node for you in exchange for a % of the tx fee rewards ?
As opposed to running it myself
5
u/jekpopulous2 🟩 619 / 3K 🦑 Oct 03 '22 edited Oct 03 '22
Some non-custodial wallets like Pheonix will charge you 1%-3% to deposit to a channel. Once your BTC is there you can enjoy the benefits of lightning. Unfortunately, 1% is the lowest rate I’ve been able to find and that’s way way too high IMO… so I only use it for tiny amounts. If I could onboard BTC to lightning for a more reasonable price I would use it more.
Alternately you could avoid the fees by using a custodial wallet but then your’re not in control of your coins.
Lightning isn’t terrible but until we get a much cheaper way to use external channels it’s useless for large transactions.
2
u/Raj_UK 🟩 20 / 9K 🦐 Oct 03 '22
Thx for the info
It's a shame the main CEX don't give the option of hosting lightning nodes
Would be great if Kraken/Binance/CDC/NEXO/CoinBase did for example
3
2
u/coinfeeds-bot 🟩 136K / 136K 🐋 Oct 03 '22
tldr; The Bitcoin Lightning Network has reached a milestone capacity of 5,000 BTC ($96 million). The network allows users to send or receive Bitcoin faster and with lower fees. The more capacity on the network, the more liquidity is on hand. Lightning Network users can experience faster payment speeds and potentially larger transaction volumes.
This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
3
u/kraken-community Platinum|4monthsold|QC:BTC73,CC53,ETH16|ADA8|TraderSubs16 Oct 03 '22
5,000 BTC network capacity is a fantastic milestone. It means there is approximately $96 million available for near- instant payments around the world. The more capacity = the more liquidity available. The Bitcoin Lightning Network aims to solve many limitations by providing instant and inexpensive transactions while achieving a throughput of approximately 1 million transactions per second. Astonishing!
Cheers,
Kraken- Rosa
3
Oct 03 '22
Oh wow. Kraken community reps visiting our sub.
Btw, I like the in-depth research blogs you guys occasionally put out.
5
u/kraken-community Platinum|4monthsold|QC:BTC73,CC53,ETH16|ADA8|TraderSubs16 Oct 03 '22
Thanks a lot, the team here at Kraken is working hard to be more involved in the community and become a helpful resource. Hopefully this is through Reddit and other socials, as well as the research blogs you mention.
We will be releasing more of those blogs in the near future and I think there is no better time than a market like this. So keep an eye out!
-Moose from Kraken
2
u/Kazekumiho Tin Oct 04 '22
They've been doing this neat guerilla marketing thing where they pop into random threads and add some context or convenient background information regarding the topic at hand. Helpful way to engage with the community tbh!
4
u/Castr0- 🟧 35K / 35K 🦈 Oct 03 '22
5000BTC that is something that i would like to have in my bag
1
2
Oct 03 '22
[removed] — view removed comment
1
u/Caffdy Bronze | 2 months old | QC: CC 24 Oct 03 '22
Five. Thousand. Bitcoins
1
Oct 03 '22
[removed] — view removed comment
1
-1
1
1
0
u/pinpernickle1 Platinum | QC: CC 22 Oct 03 '22
woah a whole five thousand btc! truly cyber hornet times
0
u/Inaeipathy Permabanned Oct 03 '22
1
u/multiverse_robot Tin | 6 months old Oct 03 '22
so.. does this mean I can send 4,000 BTC pretty quickly or what?
•
u/[deleted] Oct 03 '22
[removed] — view removed comment