Andrés G. Aragoneses [ARCHIVE] on Nostr: 📅 Original date posted:2021-08-23 📝 Original message: How is this related to ...
📅 Original date posted:2021-08-23
📝 Original message:
How is this related to the youtube video posted? Can you link to a specific
time in it where it is discussed?
On Sun, 15 Aug 2021 at 00:30, Daki Carnhof <carnhofdaki at gmail.com> wrote:
> This text was brought to life by repelling magnet forces of reading
> ZmnSCPxj's Algorithm For Channel Fee Settings. Thank you, Zmn! Bitcoin
> has taught me to just do nothing and it would probably be preferable in
> this case as well, but here is my 5msat.
>
> # Introduction
>
> Zero Fee Lightning Network Routing (both 0/0) is an alternative way of
> looking at channel fee settings. The philosophical idea behind it is based
> on the fact that by encouraging individuals to do their own (automated) fee
> management we are actually forcing everyone individually to do the
> decisions which are are currently done in fiat (and altcoin) standard
> through interventions. And which we oppose by Bitcoin.
>
> # Reasoning
>
> See discussion with Jordan P. Peterson and guests at
> https://www.youtube.com/embed/iVym9wtopqs
>
> Our computers are running anyway for the Bitcoin nodes. They do quite a
> lot of simple computations for free* already. If it did not make sense,
> the nodes would not be run. The same reasoning extends to zero fee routing
> on LN. In our opinion it is much more straightforward to not ask for fees
> on LN. The higher interest of the community will just melt into the overall
> price, like Proof-of-Work does. Using an algorithm like Hill Climbing would
> just make our computers compute even more and with uncertain results.
>
> * Without any immediate effect on the amount of satoshi the operator of
> the node owns.
>
> That's it. If I Had More Time, I Would Have Written a Shorter Letter.
>
> Regards,
> Daki
> _______________________________________________
> Lightning-dev mailing list
> Lightning-dev at lists.linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/lightning-dev
>
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📝 Original message:
How is this related to the youtube video posted? Can you link to a specific
time in it where it is discussed?
On Sun, 15 Aug 2021 at 00:30, Daki Carnhof <carnhofdaki at gmail.com> wrote:
> This text was brought to life by repelling magnet forces of reading
> ZmnSCPxj's Algorithm For Channel Fee Settings. Thank you, Zmn! Bitcoin
> has taught me to just do nothing and it would probably be preferable in
> this case as well, but here is my 5msat.
>
> # Introduction
>
> Zero Fee Lightning Network Routing (both 0/0) is an alternative way of
> looking at channel fee settings. The philosophical idea behind it is based
> on the fact that by encouraging individuals to do their own (automated) fee
> management we are actually forcing everyone individually to do the
> decisions which are are currently done in fiat (and altcoin) standard
> through interventions. And which we oppose by Bitcoin.
>
> # Reasoning
>
> See discussion with Jordan P. Peterson and guests at
> https://www.youtube.com/embed/iVym9wtopqs
>
> Our computers are running anyway for the Bitcoin nodes. They do quite a
> lot of simple computations for free* already. If it did not make sense,
> the nodes would not be run. The same reasoning extends to zero fee routing
> on LN. In our opinion it is much more straightforward to not ask for fees
> on LN. The higher interest of the community will just melt into the overall
> price, like Proof-of-Work does. Using an algorithm like Hill Climbing would
> just make our computers compute even more and with uncertain results.
>
> * Without any immediate effect on the amount of satoshi the operator of
> the node owns.
>
> That's it. If I Had More Time, I Would Have Written a Shorter Letter.
>
> Regards,
> Daki
> _______________________________________________
> Lightning-dev mailing list
> Lightning-dev at lists.linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/lightning-dev
>
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