i just paid €40 ($42) for a lightning network transaction
it went through without any networking or routing issues
but fuck me, on-chain fees are $1 
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Replies (14)
😂
I respect Phoenix, but don’t like their compromise choice…
Don't 👏 be 👏 dumb👏.
Know that you can look at the predicted fees beforehand and that you can also make on-chain payments using Phoenix too right? @Vlad, Bitcoin Takeover Podcast
i just paid €40 ($42) for a lightning network transaction
it went through without any networking or routing issues
but fuck me, on-chain fees are $1
View quoted note →
Lightning is not for that amounts! Stay on chain for anything bigger than 300 usd.
i just paid €40 ($42) for a lightning network transaction
it went through without any networking or routing issues
but fuck me, on-chain fees are $1
View quoted note →
don't send to CEX, not even for SEX.
My cash flow is horrible, banks won’t give me loans
You have many more options than phoenix wallet...
"Sending via Lightning 0.4 % + 4 sat"
https://phoenix.acinq.co/faq#what-are-the-fees
#phoenix #wallet #LN #payment #fee #lightning #bitcoin
you don't need banks for loans
That’s theft. Ridiculous that fee couldn’t have been a lightning fee that’s actual gouging
Yeah you don’t do big transactions over Lightning. The cost of liquidity in Lightning channels will kill you every time. Works great in smaller amounts, but scales in cost by size very quickly.
The problem may be that the EU doesn’t know how decimals work and that confused the lightening network. I stared at that array of amounts way to long to make sense of where the whole number were. Imagine how the lightening channel felt. 🤦♂️
0.4% is pretty standard lightning fee.
THEFT!
😱🫣