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Topic: Binance announced LN integration - page 2. (Read 279 times)

legendary
Activity: 3374
Merit: 3095
Playbet.io - Crypto Casino and Sportsbook
May 08, 2023, 10:25:18 AM
#4
The fee was adjusted from 0.0002 BTC to 0.001 BTC. That means the increase is  5 time higher than before. You can see Stompix explanation about how Binance still make money because they send to many addresses at a time, but Binance has to consolidate inputs too though.


That is a pretty high fee it's around $30 they are making profits on transaction fees even though they own a mining pool they do still ask for high fees which are unfair. It is more likely they forcing people to use other networks including their own network to keep them active and currently, there is no lightning yet under the network option when withdrawing BTC. Meaning it is not yet enabled I can only see 3 options Bitcoin, BEP20, and ERC20.
legendary
Activity: 2114
Merit: 1403
Disobey.
May 08, 2023, 09:44:23 AM
#3
Could be a great step in the right direction. Wonder if this also includes a channel that allows deposits?

Made me read up on current status of the lightning network a bit. It's not in a state I was expecting after so many years after release now. Need to do some more research, though, that's just the first few news that popped up.
legendary
Activity: 1624
Merit: 1200
Gamble responsibly
May 08, 2023, 02:52:18 AM
#2
The fee was adjusted from 0.0002 BTC to 0.001 BTC. That means the increase is  5 time higher than before. You can see Stompix explanation about how Binance still make money because they send to many addresses at a time, but Binance has to consolidate inputs too though.

https://bitcointalksearch.org/topic/m.62209691

Binance just want to start bitcoin lightning payment, it is good. If more wallets and exchanges support lightning network, more people will use it. But what I do not like about it is that it is not your coin if it is not your node, most people are not having their own node.
legendary
Activity: 1722
Merit: 5937
May 08, 2023, 12:03:24 AM
#1
After halting bitcoin withdrawals due "network congestion" (they are enabled again btw) and adjusting withdrawal fees, to combat that Binance finally announced that they are working on Lightning Netwok implementation for withdrawals  so at least something good came out from this mess.  



https://twitter.com/binance/status/1655419624962527233
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