Doing some back of the napkin math here. Let's assume a fully bitcoinized economy, everybody uses Bitcoin. 50% of them use a self-custody wallet.
There are 8 billion people on the planet. Let's assume everybody stops having babies and nobody dies for the next 50 years for simplicity on the math here. That's 4 million lightning wallets.
To use a lightning wallet, you must open a minimum of one channel, that a tx on Bitcoin's layer 1. So that's 4 billion transactions.
Let's say that L1 can do 867,000 transactions per day. 4 billion / 867,000 = 4,651 days or 12 years. And that's assuming nobody uses any other L1 transactions for any purpose and that you only need one channel for a lightning wallet, and that channels never have to be re-opened and new channels never have to be made and people never have more than one wallet or have their phone die and need to make another one.
Am I missing something obvious here? Are there any existing BIPs or other proposals to increase the ability to scale?
[link] [comments]
![Get BONUS $200 for FREE! Get BONUS $200 for FREE!](/img/socialgood3.jpg)
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments