From aj at erisian.com.au Wed Oct 28 00:02:52 2015 From: aj at erisian.com.au (Anthony Towns) Date: Wed, 28 Oct 2015 10:02:52 +1000 Subject: [Lightning-dev] Lightning fees vs miner fees In-Reply-To: References: <20151027054029.GA6185@navy> <20151027055311.GA16710@navy> Message-ID: <20151028000252.GA2409@navy> On Tue, Oct 27, 2015 at 10:38:52AM +0100, Pierre wrote: > You seem to be considering that bitcoin tx and lightning tx are completely > independent, which is not entirely true because of anchor transactions. > While this is certainly a valid assumption, maybe it would be worth stating > it explicitely ? Yep. I'm not sure what the frequency of anchor transactions is likely to be. If you consider 10% adoption to be 30M users (10% of US population), each of whom does an anchor and claim once a month, that would be 720M transactions, at 500B/tx that's an extra 7MB per block, compared to the 8MB of high value transactions we were taking from Visa at 10% adoption. If anchor/claim happens once a year on average, instead of every month, that would be an extra 570kB compared to the same 8MB. (Using Metcalfe's law, 10% adoption by transaction volume might actually require 94M users (P(tx via btc) = P(userA has btc) * P(userB has btc) = 94/300*94/300 = 0.098 ~= 10%; so 21MB or 1.8MB in lightning anchor/tx txs compared to 8MB of high-value ex-Visa transactions per block) Cheers, aj