📅 Original date posted:2015-08-10
📝 Original message:On Monday 10. August 2015 07.57.30 Rune K. Svendsen via bitcoin-dev wrote:
> What Lightning does is raise the value of a transaction on the block chain.
> Imagine you're a Lightning node, and in order to collect your fees, that
> you've earned over the past month, you have to settle on the blockchain. If
> you've earned, say, 0.5 BTC in fees, you can attach a huge 0.005 BTC fee to
> the Bitcoin settlement transaction. The miners earn a larger fee, and you
> make sure your transaction gets into the blockchain quickly, and you can
> 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 profits
because of... what? It can?
The reason of it being faster makes no sense, as your example the channel has
been open for a month then he really doesn't care it takes 1, 10 or 50 blocks
before his transaction is included. What is 5 hours wait on a month of profit?
--
Thomas Zander
Thomas Zander [ARCHIVE] /
npub1du…vyg93
2023-06-07 15:46:31
in reply to nevent1q…smdd
Author Public Key
npub1du3xh5wgds32a5fweqkd9k45kh30wl7kv2kyu8ugz9c2ztdg00tqqvyg93Published at
2023-06-07 15:46:31Event JSON
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"content": "📅 Original date posted:2015-08-10\n📝 Original message:On Monday 10. August 2015 07.57.30 Rune K. Svendsen via bitcoin-dev wrote:\n\u003e What Lightning does is raise the value of a transaction on the block chain.\n\u003e Imagine you're a Lightning node, and in order to collect your fees, that\n\u003e you've earned over the past month, you have to settle on the blockchain. If\n\u003e you've earned, say, 0.5 BTC in fees, you can attach a huge 0.005 BTC fee to\n\u003e the Bitcoin settlement transaction. The miners earn a larger fee, and you\n\u003e make sure your transaction gets into the blockchain quickly, and you can\n\u003e afford to pay this fee because you've made much more on the Lightning\n\u003e transactions you've routed.\n\nI don't buy that argument, you are saying a company will give away profits \nbecause of... what? It can?\n\nThe reason of it being faster makes no sense, as your example the channel has \nbeen open for a month then he really doesn't care it takes 1, 10 or 50 blocks \nbefore his transaction is included. What is 5 hours wait on a month of profit?\n\n-- \nThomas Zander",
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