reply on: I'd like to set the default fee rate to 10,000ppm and the default base fee to 0 \ stacker news ~bitcoin

pull down to refresh

5 sats \ 1 reply \ @faithandcredit 1 Jun 2022 \ on: I'd like to set the default fee rate to 10,000ppm and the default base fee to 0 bitcoin

This sounds reasonable but i wonder why are the fee rates configurable in the first place? Why isn't the base fee and ppm set to a static number for all nodes ? Seems like the constantly changing rates are the cause for most issues and what is the benefit? Genuinely curious.

Also im surprised ZFR is supporting this because he seems like the kind of guy that is monitoring the network for 1ppm channels and then taking advantage of them. No offence.

100 sats \ 0 replies \ @south_korea_ln 2 Jun 2022

I follow Carsten's logic and would probably support it if it becomes the standard. I have actually already changed the default values in the lnd.conf file so that indeed, I avoid having a channel drained before I've had time to adjust the fees by hand.

I don't think a static number for all nodes makes sense. I use dynamic fees to make sure all channels can work at their best (and, let's be honest, maximize profitability). With fixed fees, some channels would not route at all or would get depleted in no time.

ZFR does not do any active rebalancing of his channels if I remember correctly. So there is no reason for him to monitor 1ppm channels. He just lets things flow as rebalancing would incur a cost that he cannot recoup by routing fees.