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0 sats \ 0 replies \ @bellabaxter OP 9 Jun \ parent \ on: LND onchain fees management lightning
What are your practical recommendations to manage the fees? From the UX point of view it's a nightmare. If I specify 23 sats/vByte to close a channel the final result often varies from 12 to 80 and it seams totally unrelated from the current mempool activity.
Thanks for the insight. Did you take part in the development of lightning software?
Anyway, from a practical point. What are your recommendations? I'd really like to set a fee to close a channel and to be able to trust it at least a bit.
Unfortunately yes, shitposting seems to give them an excuse for prosecution. Especially if you run a privacy service for a fee
If Amazon can sell gift cards without being accused of money laundering then SN should be able to do the same
We will trade cowboy tokens on Robosats
Or there could be a dedicated territory for offers and the trade could be done via DMs
Do you have to be connected to every personal node directly to test if they are reachable? Or do you have to wait for the timeout of the payment?
They are officially being prosecuted for knowingly soliciting "illicit money" for their business right?
This is no different from a bank knowingly soliciting "illicit money". Maybe this case really is technology agnostic.
Banks and money changers have been successfully prosecuted for similar offenses in the past without discrediting the whole ecosystem.
Not trying to say the case has merit, just trying to follow their logic.
Lightning is super cool but very technical and if nobody can/wants to be custodian anymore it gets very difficult, especially for less committed users.
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For micro-transactions fees can be proportionally high. I'd say up to 10% when sending 10 sats. Never saw more than that though.
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To prevent this there could be a pooling system, maybe the custodial balance could be maintained to at least 10k sats in order to avoid creating too many transactions and to allow offline nodes to come back online.
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What a nightmare! This could happen any moment when using lightning, correct? More zaps only means more stuck HTLC.
They have all my compassion for being wrongly prosecuted but the way their product was conceived was careless at best. Harmful for the community since we cannot know to what degree it has been compromised.
In your experience, how many payments does a custodial home node handle before getting into troubles?
SN will become a sort of LN proxy.
Sats flowing directly from user to user is an excellent perspective. A custodial wallet doesn't give us any advantage except convenience.
Accumulating too many fee credits could be a waste of sats though since those are forever trapped inside SN... and I don't mean you don't deserve fees, but I probably spend 90% of sats on tips to other users at the moment.
Do you plan to offer a market to trade fee credits?
Most people just want to be bitcoiners AND live a normal life. This does not include going full commando paranoia and switching to an obscure degoogled self assembled phone.