[Lightning-dev] Lightning fees vs miner fees

[Anthony Towns]

On Tue, Oct 27, 2015 at 10:38:52AM +0100, Pierre wrote:
> You seem to be considering that bitcoin tx and lightning tx are completely
> independent, which is not entirely true because of anchor transactions.
> While this is certainly a valid assumption, maybe it would be worth stating
> it explicitely ?

Yep.

I'm not sure what the frequency of anchor transactions is likely to
be. If you consider 10% adoption to be 30M users (10% of US population),
each of whom does an anchor and claim once a month, that would be 720M
transactions, at 500B/tx that's an extra 7MB per block, compared to the
8MB of high value transactions we were taking from Visa at 10% adoption.
If anchor/claim happens once a year on average, instead of every month,
that would be an extra 570kB compared to the same 8MB.

(Using Metcalfe's law, 10% adoption by transaction volume might actually
require 94M users (P(tx via btc) = P(userA has btc) * P(userB has btc)
= 94/300*94/300 = 0.098 ~= 10%; so 21MB or 1.8MB in lightning anchor/tx
txs compared to 8MB of high-value ex-Visa transactions per block)

Cheers,
aj