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 32CC79A for ; Wed, 14 Oct 2015 15:37:17 +0000 (UTC) X-Greylist: whitelisted by SQLgrey-1.7.6 Received: from mail-io0-f182.google.com (mail-io0-f182.google.com [209.85.223.182]) by smtp1.linuxfoundation.org (Postfix) with ESMTPS id A16C712D for ; Wed, 14 Oct 2015 15:37:16 +0000 (UTC) Received: by ioii196 with SMTP id i196so59154704ioi.3 for ; Wed, 14 Oct 2015 08:37:16 -0700 (PDT) DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=gmail.com; s=20120113; h=mime-version:in-reply-to:references:date:message-id:subject:from:to :cc:content-type; bh=I3bWn+cHbG1I0lyLPfEq3ITWXoiIPYvW3PgQEf6y0gQ=; b=JE5k2W5zoD24yUulWSVVla/fMBxPJJr2BPXgLRu4Jh4mHvWa1iwe8XWQfqNTTNd31V D2KCz+rMq3WL+THn+KrsD4UNYCJ7C7boh37bITQnXahThg3UFXJzkbt4Z3v/xOd63jDq wQsOcNu7RchcTLfIdCg3E2eA9X99EqEwSCLsKHZzxMco4waSvn/Kmz8NpdI4+1AbVkfL 7FqekcJtgkwTL7PIeCpKFUCqFJ8e5E2oEHl75hHVy3qC2ZS3NINFyx7v2rdLFiNd65SZ ZYFneCLYmz2IpZ/2a73QpASWaXeTl7pZZ/DWDSMxyfWjHW6uoWOl42JjiKMmzUR0MSrz qdgw== MIME-Version: 1.0 X-Received: by 10.107.27.136 with SMTP id b130mr5029662iob.28.1444837034799; Wed, 14 Oct 2015 08:37:14 -0700 (PDT) Received: by 10.36.66.195 with HTTP; Wed, 14 Oct 2015 08:37:14 -0700 (PDT) In-Reply-To: <561E7283.2080507@gmail.com> References: <561E2B09.3090509@sky-ip.org> <561E7283.2080507@gmail.com> Date: Wed, 14 Oct 2015 10:37:14 -0500 Message-ID: From: Bryan Bishop To: Paul Sztorc , Bryan Bishop Content-Type: text/plain; charset=UTF-8 X-Spam-Status: No, score=-2.7 required=5.0 tests=BAYES_00,DKIM_SIGNED, DKIM_VALID, DKIM_VALID_AU, FREEMAIL_FROM, 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 Cc: Bitcoin Dev Subject: Re: [bitcoin-dev] Lightning Network's effect on 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: Wed, 14 Oct 2015 15:37:17 -0000 On Wed, Oct 14, 2015 at 10:19 AM, Paul Sztorc via bitcoin-dev wrote: > However, the two are also perfect compliments, as LN transactions cannot take place at all without periodic on-chain transactions. Additionally, lightning network hot wallets are not an ideal place to store large quantities of BTC and users that don't expect to be actively using LN should in general prefer confirmed UTXOs for long-term cold storage. So far the guess that I have seen floating around is that LN usage will at first be restricted to very tiny amounts of BTC in tiny hot wallets, since nobody is particularly interested in running large hot wallets. - Bryan http://heybryan.org/ 1 512 203 0507