Post
Topic
Board Development & Technical Discussion
Re: The Lightning Network FAQ
by
Wind_FURY
on 03/12/2021, 07:15:58 UTC
We see shitcoins accepted everywhere, especially online casinos that accept cryptocurrencies, but Lightning acceptance is low.
For exchanges, I assume their business model requires free deposits and expensive withdrawals. That discourages people from taking their funds out of the website. For casinos, I kinda just assume the same! Why have someone withdraw 50,000 sat in LN if you can make him gamble more to reach the minimum on-chain withdrawal amount and pay a much higher withdrawal fee?
Fast and cheap withdrawals simply aren't in the interest of many businesses.

Or maybe I'm just wrong here, because cheap and fast deposits would totally be in their interest. It would be very nice if some casino owners can chip in on their reasoning Smiley


We can make up different reasons, but what is actually happening is every year, shitcoins are gaining more usage, and becoming higher in market value. Bitcoin apps like Lightning should make the narrative for shitcoins weaker and less convincing, but it’s not.

How many of them have you talked to?

I don't know, I don't count the people I talk to. I suspect that most of the ChipMixer participants use the lightning network.


In general, would you say that more than 50% of Bitcoin users use Lightning?