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0 sats \ 0 replies \ @Stacktoshi42 OP 19 Oct 2023 \ parent \ on: Help me Understand Phoenix Fee Concept bitcoin
But what does not make sense to be is, that when you try to spent (had to do it via onchain sadly), the channel will be spliced out (automatically reduced in size).
Did it and enjoyed it. This is the best way to learn more about Bitcoin contribute to adoption but also can be stressful. Ever had a node failure just a brief reminder even with SCB and security measures LN is still early and thus reckless. I decided after a while for peace of mind. However I think running a small node is fine and my way to go forwards
Very much appreciate this community work and reasonable arguments. I see your point. The option to buy inbound liqudity would be nice, as A) I would have a way to spendl (adoption here is shit) and B) could solve my issue for micro TXs
Sure I acknowledge your point and I do not say that fee are unreasonable on phoenix. Happy to pay them for the service they provide. I guess you are missing my point: There is something wrong if it mandates an onchain tx for every LN one does receives.
I ran my own routing node in the past so yeah I have considered that I do not complain about the fees in general. But channel management is shit if I have to pay like 2500 sats for every 1000 sats I want to receive.
You talking about ppm, I am talking about phoenix wanting to do an onchain tx for every LN I receive. What is the purpose of LN then if I am forced to do a onchain tx everytime
Thanks all especially @ekzyis for reaching out to them. I could use a service and buy inbound liq right? Like amboss or LN+ inbound liq? Would that work? Could be great to offfer a way to buy in inbound directly inside of Phoenix. Because it can not be the solution to from now on for every LN I want to receive having to pay multiple thousand for on chain TX to increase the chan. I always liked phoenix for the simplicity and the custodianship but that would not be bearable
Shit, that escalated quickly. I would give away all my Bitcoin for my relationship honestly. Rather be poor with my wife than without her
Same thanks @DarthCoin
4. Risk of bound vs. Unbound
While the Difficulty is bound, the theoretical energy is not as it can not be consumed. Could it not come to a scenario where we can not change the difficulty anymore but the hashrate still continues to grow?