Can you transfer large amounts of BTC using Lightning Network

[SME211]

Is the Lightning Network used strictly for small transactions between two parties or can one party use it to send a large quantity of BTC (e.g. 35 BTC) to the other party?  Is there any advantage to sending large amounts using the Lightning Network vs. using the normal bitcoin Blockchain?

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[Rath_]

Is the Lightning Network used strictly for small transactions between two parties or can one party use it to send a large quantity of BTC (e.g. 35 BTC) to the other party?  Is there any advantage to sending large amounts using the Lightning Network vs. using the normal bitcoin Blockchain?

Large payments can be split into multiple smaller payments, but sending 35 BTC would be impossible unless you had a direct channel with the recipient. For such large payments, you should generally use on-chain transactions. Anyway, I guess you wouldn't mind paying a premium fee for such a high-value transaction to place it in the first block in the mempool, so LN's instant payment settlement wouldn't be a huge advantage.

Also, the larger the payment (value-wise), the higher fees you pay on the Lightning Network.

[Charles-Tim]

Lightning network should better be used for small payment like using it for shopping, at coffee shop and the likes, not advisable for making big payment.

35 BTC is huge, it should be on a key and address that is generated on a cold wallet or hardware wallet, it supposed not to have anything to do with online unless while sending it using onchain transaction as advised.

[n0nce]

Is the Lightning Network used strictly for small transactions between two parties or can one party use it to send a large quantity of BTC (e.g. 35 BTC) to the other party?  Is there any advantage to sending large amounts using the Lightning Network vs. using the normal bitcoin Blockchain?

The reason why large payments fail on Lightning is that the likeliness of finding a route that has enough outbound & inbound liquidity on each hop and reaches the destination, gets smaller the larger your amounts are. Of course, Lightning tries to split the payment and use multiple routes, but much larger sums than what you mentioned can already fail.
You can work on your 'connectivity' by opening more and larger channels. Once you're better connected, your routing abilities will improve.

More about routing payments here: https://github.com/lnbook/lnbook/blob/develop/08_routing_htlcs.asciidoc
Also look at uncertainty of balances and pathfinding complexity.

[LoyceV]

Is there any advantage to sending large amounts using the Lightning Network vs. using the normal bitcoin Blockchain?

No. But there are disadvantages: A LN wallet is always a hot wallet, and large funds should be kept safe in cold wallets.
You could probably open a very large channel with someone (you may need to patch the maximum amount in the software) and then send him 35 Bitcoin directly through your own LN channel, but it really defeats the purpose of LN. LN's advantage is being able to make many transactions at low fee after opening a channel (which requires an on-chain transaction) once.

[citb0in]

The Lightning Network is a second-layer protocol built on top of the Bitcoin blockchain that enables fast and inexpensive micropayments. It is primarily designed for small transactions between two parties, but it is also possible to use it to send larger amounts of BTC. However, the maximum amount that can be sent in a single transaction is limited by the capacity of the channel, which can be increased by adding more funds to the channel.

Sending large amounts using the Lightning Network may have some advantages over using the normal Bitcoin blockchain. For example, Lightning Network transactions are much faster and cheaper than on-chain transactions, which makes them a good option for frequent, low-value transactions. Additionally, the use of payment channels allows for greater privacy and security, as the transactions are not recorded on the blockchain and are only visible to the parties involved in the channel.

[garlonicon]

can one party use it to send a large quantity of BTC (e.g. 35 BTC) to the other party?

In theory, yes, in practice, no.

Is there any advantage to sending large amounts using the Lightning Network vs. using the normal bitcoin Blockchain?

No, there are many disadvantages. On-chain, you could pay 350 satoshis for sending 35 BTC, if your transaction would be small. In LN, it would be 0.00001% fee, so you wouldn't find any serious node with such fees. Mainly, LN fees is what determines how many coins will be stored inside that network, because when on-chain fees are cheaper, there is no reason to do that. Also, if you don't have any channel, then LN will be always more expensive, because "LN=on_chain_fee+ln_fee" in this case.

[BlackHatCoiner]

Lightning is for micro-transactions. When the total capacity of the network is about 5 thousands bitcoins (with larger channels being a few hundreds bitcoins worth), you understand that you're about to have some trouble sending that monstrous amount.

Think of it like this: blockchain comes with a storage cost which increases according to your transaction's size (in bytes), and lightning comes with a routing cost which increases according to your payment's size (in sat). If the storage cost overcomes the routing cost, use lightning. If the routing cost overcomes the storage cost, use the blockchain.

[serveria.com]

Is the Lightning Network used strictly for small transactions between two parties or can one party use it to send a large quantity of BTC (e.g. 35 BTC) to the other party?  Is there any advantage to sending large amounts using the Lightning Network vs. using the normal bitcoin Blockchain?

If it's that big, no reason to NOT do it on-chain. Theoretically, you could send it via Lightning (if you find a channel) but I don't see any reason to use Lightning it's simply wasn't meant for this. LN is for small, instant payments. Use the right tools - you can also hit a nail with a wrench, but it's better and more comfortable to do it with a hammer.

[SME211]

The company that is claiming they are going to send the bitcoin is stating that I need to transfer 0.598647 BTC in order to receive 12.4 BTC.  They are using Lightning Network.  This is what they have stated:

"Required Minimum Hash Power on Reflection ID: 0.598647 BTC"

They say once I pay the 0.598647 BTC I will receive the 12.4 BTC and that the 0.598647 BTC will be refunded.  I have no idea what they mean by "Hash Power on Reflection ID" and why the fee is so large.

[hosseinimr93]

The company that is claiming they are going to send the bitcoin is stating that I need to transfer 0.598647 BTC in order to receive 12.4 BTC.  

You will lose all your money, if you send them that 0.59 BTC.

I have no idea what they mean by "Hash Power on Reflection ID" and why the fee is so large.

You have no idea about this because you don't pay attention to the replies made in your previous topics. There is no such a fee at all. That's the money they are trying to steal from you.
You are repeating the same question over and over again. As said many times, they are scammer.

[LoyceV]

The company that is claiming they are going to send the bitcoin is stating that I need to transfer 0.598647 BTC in order to receive 12.4 BTC.

That's not a company, it's a SCAM! Actually, it's a very old scam. Any money you send them is gone, any time you spend on them is wasted.

I have no idea what they mean

It's buzz words to convince you.

You are repeating the same question over and over again. As said many times, they are scammer.

I didn't know OP opened 5 topics on the same subject. OP goes on Ignore, go waste someone else's time.

[Carlton Banks]

Large payments can be split into multiple smaller payments, but sending 35 BTC would be impossible unless you had a direct channel with the recipient.

for exactly that reason (multi path payments), it could be done theoretically. obviously it's stretching credibility that one lightning node could convince another node to open a single channel with 35 BTC in it, and even less likely that it would be available as liquidity in one direction only (i.e. an unbalanced channel to the tune of 35BTC!!)

but the larger lightning nodes could have > 35 BTC incoming liquidity no problem, aggregated over many channels. The sender would need the corresponding amount of outgoing liquidity also... it is a bit of a stretch really.

but yes, the important point seems to be that OP is being targeted by a scammer.

[PrivacyG]

They say once I pay the 0.598647 BTC I will receive the 12.4 BTC and that the 0.598647 BTC will be refunded.  I have no idea what they mean by "Hash Power on Reflection ID" and why the fee is so large.

Does this really make any sense to you?  Give me $100 and I will give it back to you in an instant, next to five more $100 bills.

Ever asked yourself why you have to pay money to get it back plus more?  If you are qualified to a particular amount of money, you should not have to pay to receive your prize.

-
Regards,
PrivacyG

[Crypto_H]

Is the Lightning Network used strictly for small transactions between two parties or can one party use it to send a large quantity of BTC (e.g. 35 BTC) to the other party?  Is there any advantage to sending large amounts using the Lightning Network vs. using the normal bitcoin Blockchain?

While the Lightning Network does allow for faster and cheaper transactions than the main Bitcoin blockchain, there are still some limitations to the amount of BTC that can be transferred at once. The maximum channel capacity of the network is currently around 0.16 BTC, which means that a single payment channel can only hold up to that amount. However, users can open multiple channels with different partners to increase their overall capacity.

It's also worth noting that the Lightning Network is still a relatively new technology and the amount of BTC that can be transferred may change in the future as the network continues to evolve and improve.

So, to answer your question, it is possible to transfer large amounts of BTC using the Lightning Network, but it would involve opening multiple payment channels and routing the transaction through several different nodes on the network.

[crwth]

I remember reading someone's post about using the lightning network, and he lost 4 BTC IIRC due to some transaction, and he lost everything. Not sure if he had recovered it but I know it's going to be a challenge.

The company that is claiming they are going to send the bitcoin is stating that I need to transfer 0.598647 BTC in order to receive 12.4 BTC.  They are using Lightning Network.  This is what they have stated:

"Required Minimum Hash Power on Reflection ID: 0.598647 BTC"

They say once I pay the 0.598647 BTC I will receive the 12.4 BTC and that the 0.598647 BTC will be refunded.  I have no idea what they mean by "Hash Power on Reflection ID" and why the fee is so large.

It's obvious that it's a scam tactic. Be careful on things that you are going to spend time on. Sometimes they even want you to register in a bogus site and make it seem that you have the money but in reality, they are just waiting for you to deposit and poof, your money is bye-bye.

[n0nce]

I remember reading someone's post about using the lightning network, and he lost 4 BTC IIRC due to some transaction, and he lost everything. Not sure if he had recovered it but I know it's going to be a challenge.

No, you won't just lose 4BTC 'in some transaction' on Lightning. The first versions had implementation bugs and such, but it's absolutely not possible to lose funds because you attempt to send a (too) large transaction.


Now, can we close this topic or just stop posting? As stated before, OP created 5 topics about this and doesn't care about Lightning or any of this, they just want to know if they can get free money or are being ripped off. To which they already got their 5 answers. Case closed.

[NotATether]

Now, can we close this topic or just stop posting? As stated before, OP created 5 topics about this and doesn't care about Lightning or any of this, they just want to know if they can get free money or are being ripped off. To which they already got their 5 answers. Case closed.

And apparently it's also being used as a sandbox for people to experiment with ChatGPT, looking at some of the posts in this thread.

It's a common theme on this board these days to just post AI responses when people have no knowledge about the subject matter. Maybe someone should make a browser extension to feed the OP into ChatGPT and then paste the response right below it.

[n0nce]

topic creator is obviously being scammed, but to answer his question

expect the average payment to be less than 0.0345 ($720), as a rational max amount to route around the network
because: (a thing called math and statistics)



thats an average inbound $720 cap (0.0345btc)
thats an average outbound $720 cap (0.0345btc)

if your lucky
more times then not the funds are already partially 'unbalanced'(lop-sided away from route sender path)

thus average route is far far less than $720(0.0345)

You are forgetting that a payment can take multiple paths, across multiple channels which can add up to much more than $720 in average.
A better metric to look at here would be the average channel capacity * average number of channels.