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Date: Mon, 10 Aug 2015 12:53:33 -0300
From: Leo Wandersleb <leo@LeoWandersleb.de>
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Subject: Re: [bitcoin-dev] Off-chain transactions and miner fees
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On 08/10/2015 05:39 AM, Thomas Zander via bitcoin-dev wrote:
> On Monday 10. August 2015 07.57.30 Rune K. Svendsen via bitcoin-dev wro=
te:
>> What Lightning does is raise the value of a transaction on the block c=
hain.
>> Imagine you're a Lightning node, and in order to collect your fees, th=
at
>> you've earned over the past month, you have to settle on the blockchai=
n. If
>> you've earned, say, 0.5 BTC in fees, you can attach a huge 0.005 BTC f=
ee to
>> the Bitcoin settlement transaction. The miners earn a larger fee, and =
you
>> make sure your transaction gets into the blockchain quickly, and you c=
an
>> afford to pay this fee because you've made much more on the Lightning
>> transactions you've routed.
> I don't buy that argument, you are saying a company will give away prof=
its=20
> because of... what? It can?
>
> The reason of it being faster makes no sense, as your example the chann=
el has=20
> been open for a month then he really doesn't care it takes 1, 10 or 50 =
blocks=20
> before his transaction is included. What is 5 hours wait on a month of=
profit?
>
I guess the assumption here is a full-block scenario where users of LN wo=
uld be
willing to pay 100 times the fees users of crude transactions would be wi=
lling
to pay for the same limited space in the blockchain, simply because LN wo=
uld
group 100 real world payments into 1 crude transaction.
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