10 upvotes, 3 direct replies (showing 3)
View submission: ⚡ Lightning Network Megathread ⚡
Although imo, lightning will be best used by exchanges.
I work at an exchange, and 98% of our withdrawals are to known addresses of other exchanges.
If we had channels with all the exchanges, it would probably be some insane back and forth on those channels...
guess what that means? less tx on chain. less fee pressure. Lower fee rates getting into blocks... and people like you who don't care about lightning benefit.
I see no losers in this situation.
Comment by [deleted] at 12/01/2018 at 19:09 UTC
5 upvotes, 1 direct replies
Actually the best (and only viable) use case I've seen for Lightning yet. If the exchanges then become de-facto big hubs, that might be the thing that makes LN catch on.
Comment by [deleted] at 13/01/2018 at 03:08 UTC*
1 upvotes, 1 direct replies
[deleted]
Comment by fuscator at 12/01/2018 at 20:46 UTC
1 upvotes, 1 direct replies
Except, I don't understand the use case here. If you transfer BTC from one exchange to another, the likelihood is because you want to sell that BTC for another currency (otherwise why are you doing it). But can you sell that BTC without settling to the main chain which involves an on chain transaction anyway?