I'm curious if you understand how that invalidates your whole point
Are you desperately wanting me to call you an idiot? I can't hold it much longer with these idiotic statements. I would really appreciate learning from someone with superior knowledge, but you are not such an individual.
If they don't show up on the blockchain, it essentially means that these transactions can make up the bulk of all transactions, and thus it is reasonable to claim that Litecoin will never encounter the issues that Bitcoin now faces. In other words, as soon as it starts to feel the pressure (Bitcoin style), more and more payment channels will spring up, thereby effectively removing the overhead. If you need just 1 payment channel to embrace 1,000 separate transactions, that's pretty much it. Litecoin may in fact encounter a lot of other issues (I don't really know), but this is certainly not what you have been claiming, right? I may not understand the gory details behind LN mechanics, but all I need to know is that it allows to massively move transactions off chain in a systemic way
This post is absolute false garbage that is built upon your skewed and extremely elementary understanding of LN. I asked you for a calculation and you've provided to create that one because you don't know how to calculate it, because you do not understand it. LN alone is
NOT ENOUGH for "never encounter the issues". This is every
written in the whitepaper, which you have not read.
How to use LN ELI3 (&& tl;dr)1) You open a payment channel. This takes up space on the
blockchain.
2) You transact 'n' times with other parties. This data does not space on the blockchain.
3) You close a payment channel and the funds settle. This takes up space on the
blockchain.
Examples:
1) Opening a payment channel on testnet:
https://testnet.smartbit.com.au/tx/8ab2d0600d324967f1758f9ed9ad90946ba4e4cab9d4211d2fe4a8df1e50b5c6.
2) ...no data.. irrelevant.
3) Closing a payment channel on testnet:
https://testnet.smartbit.com.au/tx/e0406d03eece0f82e11756b290ec2db2c0f62c020548a6364bf785979df6fd0e180 bytes * 10 000 000 open channels = 1.8 GBs to open to open 10 million channels only ONCE. Then you need another 1.8 GBs to close these 10 million channels. What happens between the opening and closing channels is irrelevant to my point. In Bitcoin (without Segwit factored in), it would take:
~12.5 days worth of blocks to only open 10 million channels
once and this assumes that there are
zero transactions of any kind.
If you think that you will open 1 channel and use it forever or for extremely long periods of time, then your understanding is even more greatly flawed. If you plan on locking all your funds into LN, I wish you good luck as you will need it.
For those complaining about fees, i.e. actually posting worthless garbage for their signature money. ETH fees are already above $1:
https://bitinfocharts.com/comparison/transactionfees-btc-eth.html