Row 14933

Row ID: 14933 | Dataset Entry | Axioma AXP Content Repository

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This page contains data entry 14933 from the Axioma AXP content repository. The structured data below represents the complete record for this entry.

Custodial services can basically handle infinite transactions. If Coinbase or Binance or Paypal or Venmo or in the future other custodians like banks that enter the Bitcoin space are making payments within their own network all they are doing is shifting around numbers in their database. And institutions that want to pass bitcoin between each other could just setup large LN nodes or just settle on-chain every once in a while for very small fees compared to the settlement amounts. And then LN itself can theoretically handle perhaps hundreds of thousands of transactions a second. I say theoretically because we'd still have to see how well it all works once the network grows to that size, there might definitely be issues to be worked out but the design is such that it allows that order of magnitude of transactions.

So you really should have any worry about off-chain bitcoin transactions being able to handle that volume. There is no question the volume can be handled.

FieldValue
text Custodial services can basically handle infinite transactions. If Coinbase or Binance or Paypal or Venmo or in the future other custodians like banks that enter the Bitcoin space are making payments within their own network all they are doing is shifting around numbers in their database. And institutions that want to pass bitcoin between each other could just setup large LN nodes or just settle on-chain every once in a while for very small fees compared to the settlement amounts. And then LN its…
label r/bitcoin
dataType comment
communityName r/Bitcoin
datetime 2024-05-20
username_encoded Z0FBQUFBQm5Lakw4aHhKajNMcUFUOFRLTEFRLWtxZ2pSSFBYRWg4YlBKaHJFcS1CWFRSSDZNNjVlUzNkb2FSS0J1bHpTMzREblUzakV0SnFEaXBIMUZhQUpkTjNkWGJzX1FsSjBieFUzNC1fT1VOVDNZS3BVOFE9
url_encoded Z0FBQUFBQm5Lak9MdTRMSUw3TUZwYmNLSHZWSDNtNkItbWV0LVdjMTBIOHI0Y0liMHVNckdyOFV5dWdkQnJDSzU4UFJDSTA4SlZNakxGX2tkampVNGpSRFJvRXQtUWZyTUVjOXZPYU1NRGlkeVV3emR6UnVHX05DYnR1dEJwQVd4cHVJeUdhbnlSQXE3ZkVVX29MVktZM0tZUDdtck5SOWk2cU1mdmxTV0NqR3pIM1M0VkoyQ3lGS3Y4SUdXUmxlRm93TG56eUJMY1lJOGlEQkViT0VUTlNFZG80Z0dvUWpXZz09

Raw Record

{
  "text": "Custodial services can basically handle infinite transactions. If Coinbase or Binance or Paypal or Venmo or in the future other custodians like banks that enter the Bitcoin space are making payments within their own network all they are doing is shifting around numbers in their database. And institutions that want to pass bitcoin between each other could just setup large LN nodes or just settle on-chain every once in a while for very small fees compared to the settlement amounts. And then LN itself can theoretically handle perhaps hundreds of thousands of transactions a second. I say theoretically because we'd still have to see how well it all works once the network grows to that size, there might definitely be issues to be worked out but the design is such that it allows that order of magnitude of transactions.\n\nSo you really should have any worry about off-chain bitcoin transactions being able to handle that volume. There is no question the volume can be handled.",
  "label": "r/bitcoin",
  "dataType": "comment",
  "communityName": "r/Bitcoin",
  "datetime": "2024-05-20",
  "username_encoded": "Z0FBQUFBQm5Lakw4aHhKajNMcUFUOFRLTEFRLWtxZ2pSSFBYRWg4YlBKaHJFcS1CWFRSSDZNNjVlUzNkb2FSS0J1bHpTMzREblUzakV0SnFEaXBIMUZhQUpkTjNkWGJzX1FsSjBieFUzNC1fT1VOVDNZS3BVOFE9",
  "url_encoded": "Z0FBQUFBQm5Lak9MdTRMSUw3TUZwYmNLSHZWSDNtNkItbWV0LVdjMTBIOHI0Y0liMHVNckdyOFV5dWdkQnJDSzU4UFJDSTA4SlZNakxGX2tkampVNGpSRFJvRXQtUWZyTUVjOXZPYU1NRGlkeVV3emR6UnVHX05DYnR1dEJwQVd4cHVJeUdhbnlSQXE3ZkVVX29MVktZM0tZUDdtck5SOWk2cU1mdmxTV0NqR3pIM1M0VkoyQ3lGS3Y4SUdXUmxlRm93TG56eUJMY1lJOGlEQkViT0VUTlNFZG80Z0dvUWpXZz09"
}
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