In loop quantum gravity the quantum states of a black hole horizon are produced by point-like discrete quantum geometry excitations (or punctures) labelled by spin j. The excitations possibly carry other internal degrees of freedom also, and the associated quantum states are eigenstates of the area A operator. On the other hand, the appropriately scaled area operator A/(8π ) is also the physical Hamiltonian associated with the quasilocal stationary observers located at a small distance from the horizon. Thus, the local energy is entirely accounted for by the geometric operator A. We assume that:1. In a suitable vacuum state with regular energy momentum tensor at and close to the horizon the local temperature measured by stationary observers is the Unruh temperature and the degeneracy of 'matter' states is exponential with the area exp (λA/ 2 p )-this is supported by the well established results of QFT in curved spacetimes, which do not determine λ but asserts an exponential behaviour.2. The geometric excitations of the horizon (punctures) are indistinguishable.3. In the semiclassical limit the area of the black hole horizon is large in Planck units.
It follows that:1. Up to quantum corrections, matter degrees of freedom saturate the holographic bound, viz.λ must be equal to 1 4 .2. Up to quantum corrections, the statistical black hole entropy coincides with Bekenstein-3. The number of horizon punctures goes like N ∝ A/ 2 p , i.e. the number of punctures N remains large in the semiclassical limit. We also show how the present model (constructed from loop quantum gravity) provides a regularization of (and gives a concrete meaning to) the formal Gibbons-Hawking euclidean path-integral 2 treatment of the black hole system. These results offer a new scenario for semiclassical consistency of loop quantum gravity in the context of black hole physics, and suggest a concrete dynamical mechanism for large spin domination leading simultaneously to semiclassicality and continuity.