Absolutely valid use cases
Cool, where can I use it?
And another positive article on bitcoin mining and its positive impact, this time in forbes: Bitcoin Miners Riot, Verde Driving Innovation And Emissions Reduction
Most European banks already support it. Regulations change effective Jan 2025 and then, all European banks will support it. Switzerland is a bit behind but not much.
Perfect
So soon, people can transfer money / move bitcoin / shop over weekends
Use case - weekend shopping
Case settled
70% of bitcoin didnt move for ages. Stop this nonsense of instant payments. i dont pay with gold, i dont pay with buildings, i dont pay with bitcoin
Cool story, I will wait to use it I guess
I still think people are missing the point of having the possibility to pay during the weekend. If someone deems it interesting of a use case, that’s nobody’s business, it is this person use case. That’s the whole point of being permissionless.
Just one other use case amongst the many.
Just a funny side note. Have my play crypto on Binance. Wanted to try to cash out small amount to check how easy or difficult it would be. Remember in 2022 it was not possible because Binance hat some issues and withdrawal via FIAT was not possible.
This time technically would be possible, but an extra windows opened for additional security check. But technically this window was blocked with a failure message.
So I transfer USDT to Coinbase > traded to EUR > send it to Swissquote via Sepa > 6h later received a completion message by Swissquote.
Anybody doing it successfully with Binance?
My process of “cashing out” from Binance is via ligthning network to Kraken and sell the BTC to CHF. Withdraw from Kraken (Liechtenstein Bank) to any other Swiss account within an hour (cost 1chf).
Funny, I was just looking at LN transactions between exchanges. Kraken is upping their fees for the lower tier 30-day volumes:
Tier | Fees |
---|---|
$0 - $10,000 | 0.25% Maker, 0.40% Taker |
$10,000 - $50,000 | 0.20% Maker, 0.35% Taker |
before | 0.16% Maker, 0.26% Taker |
Transaction costs (in BTC) between Kraken and Binance over LN:
Exchange | Deposit | Withdrawal |
---|---|---|
Kraken | free | free |
Binance | free | 0.000001 |
Bitfinex | free | 0.000001 |
I don’t know if there are any nodes in between, and what they charge. @stojano ?
Edit: Added Bitfinex
I have found exactly 3 exchanges operating with Lightning Network:
Kraken
Bitfinex
Binance
Didn’t use Binance. LN transfers between Kraken and Bitfinex does not incur additional costs. Same with the transfer to Lightning wallet inside the mobile Exodus app.
From Kraken I never paid a sat for a LN tx. From Binance just the mentioned… There is a channel between Binance and Kraken. And 0.0199btc is the max you can send at once (at least from Binance).
Where are you taking this info from?
Email, and it is also mentioned on Reddit.
That’s scary than we didn’t have a red monthly candle since 6 months
Im still waiting for the 10k candle…
stupid question: why do you send the BTC not directly to Kraken from your wallet but do it indirectly via Binance?
just had some BTC on binance…
Just logged in Binance and realized i was sitting on a 800% unrealized gain in PEPE. From 1 to 8 usd