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61 sats \ 3 replies \ @jk_14 10 May 2023 \ parent \ on: deleted by author bitcoin
This,
and send at least 300k sat to fully utilise constant 3k sat fee for on-the-fly channel creation (when situation with on-chain fees will be back to normal)
and switch-off automatic on-the-fly channel creation, Android only
Can you go into why you should do these things? Here are my assumptions:
- Send at least 300k sats so that the channel that Phoenix opens is big enough to handle smaller transactions?
- Not sure why you don't want on-the-fly channel creation.
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If your channel isn't large enough to handle your typical transaction, you will need to open another, larger channel to accommodate your needs, and pay another 3000 sat Phoenix fee and miner fees, whichare very high right now .
His second point regarding turning off on the fly channel creation gives you the power to decide when and if you want to open a channel, and thus avoid paying unnecessary fees.
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exactly
and because there is 1% fee for channel creation, but not less than 3k sat fee
so you pay 1% fee only in case of >300ksat (and e.g. 3% in case of 100k sat)
yet another proof: the bigger the better, channel of course ;)
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