[bitcoin-dev] What Lightning Is

Patrick Strateman patrick.strateman at gmail.com
Sun Aug 9 22:27:00 UTC 2015


That was not in reply to you.

On 08/09/2015 03:09 PM, Hector Chu wrote:
> Right, you've stated a bunch of facts, but how does it answer my
> concerns of the exploding cost of the network the more interconnected
> it it?
>
> On 9 August 2015 at 23:06, Patrick Strateman via bitcoin-dev
> <bitcoin-dev at lists.linuxfoundation.org
> <mailto:bitcoin-dev at lists.linuxfoundation.org>> wrote:
>
>     I suspect there is some amount of confusion here on terms.
>
>     The hub is essentially swapping funds between payment channels.
>
>     The hub's entire business is centered around having payment
>     channels open with other hubs/users.
>
>     If the hub requires user funds to open these channels... then the
>     users have no reason to pay the hub anything in fees.
>
>     A hub that doesn't use it's own funds to open payment channels to
>     other hubs/merchants is useless.
>
>
>     On 08/09/2015 02:27 PM, Tom Harding via bitcoin-dev wrote:
>>
>>     On Aug 9, 2015 11:54 AM, "Mark Friedenbach" <mark at friedenbach.org
>>     <mailto:mark at friedenbach.org>> wrote:
>>
>>     > On the contrary the funds were advanced by the hub on the
>>     creation of the channel. There is no credit involved.
>>
>>     That's a chuckle. 
>>
>>     As I said, nothing requires the hub to advance anything, and if
>>     it does, Bob can expect to pay for it.
>>
>>     We'll see whether hubs assess a fee for depositing funds, whether
>>     the fee depends on the amount deposited, and whether it depends
>>     on the amount of time it stays there.
>>
>>     I predict "all of the above." There is a name for these kinds of
>>     fees.  Can you guess it?
>>
>>
>>
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>
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