From mboxrd@z Thu Jan 1 00:00:00 1970 Return-Path: Received: from smtp1.linuxfoundation.org (smtp1.linux-foundation.org [172.17.192.35]) by mail.linuxfoundation.org (Postfix) with ESMTPS id 404917A for ; Mon, 10 Aug 2015 08:39:05 +0000 (UTC) X-Greylist: from auto-whitelisted by SQLgrey-1.7.6 Received: from manxnetsf05.manx.net (outbound.manx.net [213.137.31.12]) by smtp1.linuxfoundation.org (Postfix) with ESMTPS id 863CE7D for ; Mon, 10 Aug 2015 08:39:04 +0000 (UTC) Received: from adsl92.39.203.140.manx.net (EHLO coldstorage.localnet) ([92.39.203.140]) by manxnetsf05.manx.net (MOS 4.4.5a-GA FastPath queued) with ESMTP id EGC09641; Mon, 10 Aug 2015 09:39:02 +0100 (BST) From: Thomas Zander To: "bitcoin-dev@lists.linuxfoundation.org" Date: Mon, 10 Aug 2015 10:39:02 +0200 Message-ID: <7458113.kgSzuHbtZH@coldstorage> User-Agent: KMail/4.14.1 (Linux/3.16.0-4-amd64; KDE/4.14.2; x86_64; ; ) In-Reply-To: <567909F0-F686-4B38-A745-637423E12311@gmail.com> References: <55C7D234.1040306@bitmarkets.net> <567909F0-F686-4B38-A745-637423E12311@gmail.com> MIME-Version: 1.0 Content-Transfer-Encoding: 7Bit Content-Type: text/plain; charset="us-ascii" X-Mirapoint-Received-SPF: 92.39.203.140 coldstorage.localnet thomas@thomaszander.se 5 none X-Junkmail-Status: score=10/50, host=manxnetsf05.manx.net X-Junkmail-Signature-Raw: score=unknown, refid=str=0001.0A0B0203.55C86326.026B, ss=1, re=0.000, recu=0.000, reip=0.000, cl=1, cld=1, fgs=0, ip=0.0.0.0, so=2014-07-29 09:23:55, dmn=2013-03-21 17:37:32, mode=multiengine X-Junkmail-IWF: false X-Mirapoint-Virus-RAPID-Raw: score=unknown(0), refid=str=0001.0A0B0203.55C86326.026B, ss=1, re=0.000, recu=0.000, reip=0.000, cl=1, cld=1, fgs=0, ip=0.0.0.0, so=2014-07-29 09:23:55, dmn=2013-03-21 17:37:32 X-Mirapoint-Loop-Id: 2b996838885ff9029f9197e8f3cdbd0b X-Spam-Status: No, score=-2.6 required=5.0 tests=BAYES_00,RCVD_IN_DNSWL_LOW autolearn=ham version=3.3.1 X-Spam-Checker-Version: SpamAssassin 3.3.1 (2010-03-16) on smtp1.linux-foundation.org Subject: Re: [bitcoin-dev] Off-chain transactions and miner fees X-BeenThere: bitcoin-dev@lists.linuxfoundation.org X-Mailman-Version: 2.1.12 Precedence: list List-Id: Bitcoin Development Discussion List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Mon, 10 Aug 2015 08:39:05 -0000 On Monday 10. August 2015 07.57.30 Rune K. Svendsen via bitcoin-dev wrote: > What Lightning does is raise the value of a transaction on the block chain. > Imagine you're a Lightning node, and in order to collect your fees, that > you've earned over the past month, you have to settle on the blockchain. If > you've earned, say, 0.5 BTC in fees, you can attach a huge 0.005 BTC fee to > the Bitcoin settlement transaction. The miners earn a larger fee, and you > make sure your transaction gets into the blockchain quickly, and you can > afford to pay this fee because you've made much more on the Lightning > transactions you've routed. I don't buy that argument, you are saying a company will give away profits because of... what? It can? The reason of it being faster makes no sense, as your example the channel has been open for a month then he really doesn't care it takes 1, 10 or 50 blocks before his transaction is included. What is 5 hours wait on a month of profit? -- Thomas Zander