MultiversX Tracker is Live!

How do miners get paid if everyone ends up using the lightning network?

Bitcoin Reddit

More / Bitcoin Reddit 214 Views

Im a bit confused with this.

The lightning network allows for way faster transactions for (currently) nearly free if not totally free. What happens in 2140 when all the bitcoin has been mined and everyone is using the lightning network (assuming lightning continues getting adoption)?

Why would anyone use the normal chain for any transaction at that point given the cost? Maybe security? But if Lightning isn't secure then why the fuck are we using it? I'd imagine the fees miners will charge would only increase after all the bitcoin has been mined otherwise there would be no incentive for them to continue. And if not by a little, by a lot.

How do we not end up in an ethereum-like situation where miners have all jacked prices up so high that it's unusable to average joes? And, if the majority of people end up using lightning, how would the network not collapse when mining rewards are gone? Lightning only works if those channel payments are then written into blocks.

What am I missing here?

submitted by /u/lwc-wtang12
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑 Crypto.com🟑 Gate.io🟑 Huobi🟑 Kucoin.



Comments