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101 sats \ 13 replies \ @justsmile 30 Nov 2022 \ on: Will small UTXOs become a problem in a mempool-collapsed future? bitcoin
Zero Fee Routing on Lightning Network is the way.
It may take some time (for others to realize)
It may be hard to find
But eL eN route for free.
CLN:
As much as Zero Fee Routing is nice, I don't know think it's sustainable long-term, and it doesn't really address the issue I'm talking about.
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проблема большой комиссии закончиться на 21 млн монет в мем пул...
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Exactly. It is sustainable. The units you route are worth more and more.
Or what problem in sustainability you see, @pillar?
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I mean, if there is no incentive to become a routing node, there won't be enough capacity in the network. Thus, the need for fees. Which will probably be dramatically low since it will be an extremely competitive market and the cost of routing is very low, but definitely not zero.
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I see. And what's the incentive to run a Bitcoin full node (incl. pruned ones I mean)?
For example running a CLN node requires one to run a Bitcoin Core node talking to the network and knowing what is the bestblock. The incentive to not track any other but only the bestblock chain is that when you want to stack more (or do business with it) you need to be on the chain which is alive, which has the most mining power. There your stack just holds, but in time it becomes more and more valuable. What's the difference when LN node runs alongside Bitcoin Core?
Another example. What's the incentive to run a Tor node? When anyone runs a Tor node, they are routing onions for free.
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The incentive to run a Bitcoin full node is enjoying complete privacy plus access to the Bitcoin network without censorship nor permission.
A Lightning node might be run simply because the node runner wants to interact with the Lightning Network. In that case, fees are irrelevant because it's not a Routing node. A Routing node needs significant amounts of capital and a way more active management than a node that simply exists because the operator wants to send and receive sats in the Lightning Network. Again, I doubt people will commit millions in $ value and all the human effort it takes to maintain a Routing node to altruistically route for the network.
As for the Tor network, the only incentive is having an interest in the network being alive. That could explain why there are so few exit nodes.
Do you run a Lightning Routing node?
Running core and tor don’t involve a scarce asset. Spread the existing bitcoin across the entire planet and then have everyone open a lightning channel. If it was today, that’s 225,000 sats per person. Miners will be running mainly on fees in the future. I disagree with @pillar I think fees go up and LN moves to centralization. The average family will not have this many sats and with a planet running on bitcoin they certainly couldn’t afford opening up a channel each. We’d likely share channels or some larger entity with resources would let you pay to access.