📅 Original date posted:2015-10-14
📝 Original message:-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA256
Hello,
I am reading about the Lightning Network and the BIPs which need to be
deployed until it can be fully functional. I have to say it's a neat
solution to scale and have almost instant transactions in a peer 2
peer, distributed and trustless way. I already knows what the needed
BIPs are and what each one does, I am curios about the impact this
will have on miner fees.
If transactions happen in a big percent offchain, and they are only
broadcasted on the mainchain where funds are moved in or out of the
lightning network, this means there will be less transactions on the
mainchain -> less fees collected by the miners. What will happen when
the block reward will go away? Either the fees for the little amount
of onchain transactions will increase to unpractical levels, either
the miners will find it not profitable to keep their hardware plugged
in to mine, so will leave and the effect will be that the hashing
power of the network will decrease. Since the network's hashing power
is a security feature (it makes some attacks impossible or insanely
expensive) I think it's important to anticipate what will happen in
this scenario.
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s7r [ARCHIVE] /
npub1j3…cwg9h
2023-06-07 17:43:25
in reply to nevent1q…mhq3
Author Public Key
npub1j3u42vq63qzs2nyddgkf4s4t7pa85x855vas54e6yauxsvpf2wcsacwg9hPublished at
2023-06-07 17:43:25Event JSON
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"content": "📅 Original date posted:2015-10-14\n📝 Original message:-----BEGIN PGP SIGNED MESSAGE-----\nHash: SHA256\n\nHello,\n\nI am reading about the Lightning Network and the BIPs which need to be\ndeployed until it can be fully functional. I have to say it's a neat\nsolution to scale and have almost instant transactions in a peer 2\npeer, distributed and trustless way. I already knows what the needed\nBIPs are and what each one does, I am curios about the impact this\nwill have on miner fees.\n\nIf transactions happen in a big percent offchain, and they are only\nbroadcasted on the mainchain where funds are moved in or out of the\nlightning network, this means there will be less transactions on the\nmainchain -\u003e less fees collected by the miners. What will happen when\nthe block reward will go away? Either the fees for the little amount\nof onchain transactions will increase to unpractical levels, either\nthe miners will find it not profitable to keep their hardware plugged\nin to mine, so will leave and the effect will be that the hashing\npower of the network will decrease. Since the network's hashing power\nis a security feature (it makes some attacks impossible or insanely\nexpensive) I think it's important to anticipate what will happen in\nthis scenario.\n-----BEGIN PGP SIGNATURE-----\nVersion: GnuPG v2.0.22 (MingW32)\n\niQEcBAEBCAAGBQJWHisJAAoJEIN/pSyBJlsRQfgH/05DTVd+oUNeBt6LzitY/b2a\nb4Ubky0vWE5fa7sHxcfMQz4g4dPVKrDrMrpJsx2aY6D8a14tXzHsgyyRqJSZlHZh\nCUYvuy+HVje5wSwYRRIFEI+yyJLRrxJYLQuTqd9u/5kpL91Qq1cgzGr9BQgz20vb\ntDEP3Z0/08XeUPFA8ZxwjUptfzypVl0euIjsa2bFNFAWN9UYcDqKc0MnqgCYRTx3\nF/cm1NVmtFdpE2srTXVOqC0nTdfhHjnd1zmfRpPq0ZZoG43U81PbzC0kZmdz6rkt\nkUrtzKEDRLs12FNPVMrNnsHvRpScqoxIelubSvR8U3xrtIHkG9bpYO9EMqX6O4I=\n=+sdq\n-----END PGP SIGNATURE-----",
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