[bitcoin-dev] What Lightning Is

Hector Chu hectorchu at gmail.com
Sun Aug 9 22:30:08 UTC 2015


Sorry about that Patrick. Gmail hides previous messages including sender
names. Regardless, no worries.

On 9 August 2015 at 23:27, Patrick Strateman via bitcoin-dev <
bitcoin-dev at lists.linuxfoundation.org> wrote:

> 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> 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> 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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>
>
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