These are all great points that I didn’t even think of. Zap ratio should not a measurement of anything.

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That’s my position on it. There are too many unknown variables. Anyone could easily spin up a few dozen npubs and anonymous wallets and zap the same sats to themself over and over again to make it look like they’re zapping out millions upon millions of sats. Or vice versa, to make it look like they’re receiving far more sats than I they actually have. I suspect some specific people of doing this already, but no way to know for sure šŸ˜‚