Welcome to the 23rd issue of Stack Sats.
Bitcoin’s mempool is now full, and transaction fees are beginning to rise. This pressure on block space can be attributed to Ordinals, and it will be interesting to see whether Bitcoin users change their spending behaviors as a result.
If fees were to remain consistently elevated on Bitcoin’s base layer, it’s possible that the Lightning Network could see accelerated uptake from Bitcoin businesses and users as a preferred payment method.
Lightning Network Metrics
Public Capacity: 5,507 BTC (+50 BTC)
Channels: 80,646 (+217)
Nodes: 17,149 (+40)
Lightning Podcasts: 11,878 (+131)
Amboss Magma Liquidity Deployed: 86.36 BTC (+1.52 BTC)
Wallet of Satoshi Lightning Payments: 6,430,459 (+126,587)
Sats Stacked
Fold users stacked 217,811,000 sats this week (26,479,701,000 sats to date)
Geyser projects have raised 30,000,000 sats this week (793,000,000 sats to date)
Stacker News users stacked 668,916 sats this week (33,816,895 sats to date)
Amboss Magma users stacked 698,437 sats this week (29,114,811 sats to date)
Microlancer users stacked 72,784 sats this week (45,892,380 sats to date)
Lightning Product Updates
Damus is working on an upgrade that will let creators earn sats directly on the posts they make.
THNDR Games processed 530,000 Lightning payments across their suite of games in Q4 2022.
Casey Rodarmor is working on an idea to build a decentralized Ordinals marketplace.
Mash released their Lightning-powered Page Revealers product.
Wallet of Satoshi released the public beta of their latest app update this week.
OrdinalHub has built a directory list and more showcasing Ordinal collections.
Cowdle has launched a word guessing game on Nostr.
Recommended Reading
Roy Sheinfeld wrote an article on the new Breez SDK and some of its potential use cases.
Lyn Alden wrote an article called “How The Fed Went Broke”.
Podcast Episodes
E95: Nicholas Gregory on Statechains, Mercury Wallet, Scaling Bitcoin, and the Lightning Network
Podcasts Clips
E77: How To Teach People About Bitcoin
E77: Understanding Lightning Network Payment Reliability
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