📅 Original date posted:2019-10-11
📝 Original message:
Good morning,
Looks fine to me.
Regards,
ZmnSCPxj
> Hi all,
>
> I've been looking at the current lightning network fees, and it
> shows that 2/3 are sitting on the default (1000 msat + 1 ppm).
>
> This has two problems:
>
> 1. Low fees are now a negative signal: defaults actually indicate
> lower reliability, and routing gets tarpitted trying them all.
>
> 2. There's no meaningful market signal in fees, since you can't
> drop much below 1ppm.
>
> Compare lightningpowerusers.com which charges (10000 msat + 5000 ppm),
> and seems to have significant usage, so there clearly is market
> tolerance for higher fees.
>
> I am proposing that as of next release of c-lighting, we change defaults
> on new channels to 5000 msat + 500ppm, and I'd like the other
> implementations to join me.
>
> Over time, that should move the noise floor up. I picked 500ppm because
> that's still 1% at 20 hops, so minimally centralizing. I picked 5000
> msat base for less quantifiable reasons.
>
> Here's default fee a rate table in USD (@10k per BTC):
>
> Amount Before After
> 0.1c 0.0100001c 0.05005c
> 1c 0.010001c 0.0505c
> 10c 0.01001c 0.055c
> $1 0.0101c 0.1c
> $10 0.011c 0.55c
> $100 0.02c 5.05c
> $1000 0.11c 50.05c
>
> Thoughts?
> Rusty.
>
>
> Lightning-dev mailing list
> Lightning-dev at lists.linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/lightning-dev
ZmnSCPxj [ARCHIVE] /
npub1g5…3ms3l
2023-06-09 14:56:39
in reply to nevent1q…lmj6
Author Public Key
npub1g5zswf6y48f7fy90jf3tlcuwdmjn8znhzaa4vkmtxaeskca8hpss23ms3lPublished at
2023-06-09 14:56:39Event JSON
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"content": "📅 Original date posted:2019-10-11\n📝 Original message:\nGood morning,\n\nLooks fine to me.\n\nRegards,\nZmnSCPxj\n\n\u003e Hi all,\n\u003e\n\u003e I've been looking at the current lightning network fees, and it\n\u003e shows that 2/3 are sitting on the default (1000 msat + 1 ppm).\n\u003e\n\u003e This has two problems:\n\u003e\n\u003e 1. Low fees are now a negative signal: defaults actually indicate\n\u003e lower reliability, and routing gets tarpitted trying them all.\n\u003e\n\u003e 2. There's no meaningful market signal in fees, since you can't\n\u003e drop much below 1ppm.\n\u003e\n\u003e Compare lightningpowerusers.com which charges (10000 msat + 5000 ppm),\n\u003e and seems to have significant usage, so there clearly is market\n\u003e tolerance for higher fees.\n\u003e\n\u003e I am proposing that as of next release of c-lighting, we change defaults\n\u003e on new channels to 5000 msat + 500ppm, and I'd like the other\n\u003e implementations to join me.\n\u003e\n\u003e Over time, that should move the noise floor up. I picked 500ppm because\n\u003e that's still 1% at 20 hops, so minimally centralizing. I picked 5000\n\u003e msat base for less quantifiable reasons.\n\u003e\n\u003e Here's default fee a rate table in USD (@10k per BTC):\n\u003e\n\u003e Amount Before After\n\u003e 0.1c 0.0100001c 0.05005c\n\u003e 1c 0.010001c 0.0505c\n\u003e 10c 0.01001c 0.055c\n\u003e $1 0.0101c 0.1c\n\u003e $10 0.011c 0.55c\n\u003e $100 0.02c 5.05c\n\u003e $1000 0.11c 50.05c\n\u003e\n\u003e Thoughts?\n\u003e Rusty.\n\u003e\n\u003e\n\u003e Lightning-dev mailing list\n\u003e Lightning-dev at lists.linuxfoundation.org\n\u003e https://lists.linuxfoundation.org/mailman/listinfo/lightning-dev",
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