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31 sats \ 3 replies \ @Stacktoshi42 OP 17 Oct 2023 \ parent \ on: Help me Understand Phoenix Fee Concept bitcoin
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
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10 sats \ 2 replies \ @TheGoon 17 Oct 2023
I also ran one of the top 100(circle-jerk ranking), profitable routing nodes for years, which I was only recently happy to shut down. My point is that LN is not as cheap as you might think. (e.g. ECC RAM, Raid1 and so on.)
There are settings to cap max fee % and absolute LN fee in Phoenix.
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31 sats \ 1 reply \ @Stacktoshi42 OP 17 Oct 2023
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.
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10 sats \ 0 replies \ @TheGoon 17 Oct 2023
Yes you are right and it needs to be fixed.
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