Economic disincentives and poorly thought out game theory are the hallmark trait of good maxis. They run around the world with NgU tinted glasses and narry a thought to utility and its implications, long as the cargo cult scaling on LN satisfies the cult tax sacrifice, they are happy. Visiting their lands is much like a visit to the sentinel islands in that A) you should not do it and B) the locals will try to spear you with stupidity for no reason other than never having seen a rational thought in their lives.
KrapnikSucks on
From the article:
*was possible to deposit 100K sats and then withdraw 1 sat a time. Of course, 50 sats is a negligible amount. However, their API works flawlessly and I noticed there was no request rate limit. I wrote a simple python script able to generate local LN invoices and submit them to the exchange to process the withdrawals. It reached top speeds of up to ~300 withdrawals per minute (200 ms per withdrawal), simply wow! That makes for ~15K sats per minute. I did not optimize further the script, as the channel was already near being maxed out (current maximum pending HTLCs for a channel is 483 and they were taking long to settle). In addition, my RaspberryPi was getting CPU limited, I believe*
So Lightning is limited to 5 transactions per second, same as Bitcoin 🤔?
3 Comments
AFAIK this was fixed by updating clients and checking for fees on route?!?
But it tells you something that years into the development such an easy design flaw can cause loss of coins/stealing of coins.
Lightning is overcomplicated and doesn’t even help scaling. Like a life boat only a few can reach. And then you discover holes in the life boat. 💩
Use the working, scaling Bitcoin 🟢
I’m doing a series to show how Lightning does not work and does not scale and gives people headaches all the time, contrary to what Maxis tell you: https://old.reddit.com/user/DangerHighVoltage111/comments/1ne1qyt/ln_fails/
Economic disincentives and poorly thought out game theory are the hallmark trait of good maxis. They run around the world with NgU tinted glasses and narry a thought to utility and its implications, long as the cargo cult scaling on LN satisfies the cult tax sacrifice, they are happy. Visiting their lands is much like a visit to the sentinel islands in that A) you should not do it and B) the locals will try to spear you with stupidity for no reason other than never having seen a rational thought in their lives.
From the article:
*was possible to deposit 100K sats and then withdraw 1 sat a time. Of course, 50 sats is a negligible amount. However, their API works flawlessly and I noticed there was no request rate limit. I wrote a simple python script able to generate local LN invoices and submit them to the exchange to process the withdrawals. It reached top speeds of up to ~300 withdrawals per minute (200 ms per withdrawal), simply wow! That makes for ~15K sats per minute. I did not optimize further the script, as the channel was already near being maxed out (current maximum pending HTLCs for a channel is 483 and they were taking long to settle). In addition, my RaspberryPi was getting CPU limited, I believe*
So Lightning is limited to 5 transactions per second, same as Bitcoin 🤔?