Post
Topic
Board Beginners & Help
Re: bitcoin lightning network
by
figmentofmyass
on 13/01/2020, 08:33:01 UTC
Bitcoin on  Chain transactions are not very cheap, but they are still relatively cheap if you can wait long confirmation times.

1 satoshi/byte transactions are getting confirmed all day. i've literally paid fees lower than $0.01 recently (1 input/1 output bech32) and gotten confirmation within minutes. that's pretty damn cheap (and fast) if you ask me!

fees will rise again though, which is why this is good advice: Fees are low, use this opportunity to Consolidate your small inputs!

For LN fee is also as low as On-Chain transactions?

fees on LN are much lower: 1 satoshi base fees and 0.000001 satoshi median fee rates. https://1ml.com/statistics

for comparison, the 1 input/1 output bech32 transaction mentioned above cost me 111 satoshis. granted, maintaining lightning channels requires some on-chain transactions.