Author: Rusty Russell 2015-07-15 02:21:06
Published on: 2015-07-15T02:21:06+00:00
The issue of fees in Bitcoin transactions is a concern as it can lead to gaming and guessing amounts. With source routing and onion, the fees can be explicitly stated for each hop. However, outdated payment information can result in loss. The author compares fees to how internet access is paid for and suggests that micro-transaction infrastructure could be used for immediate per-transaction payment of transaction fees. The cost of channel capacity and security risks are more important than CPU and bandwidth usage. Monetization is necessary to prevent centralization pressure. Negative fees could incentivize bringing channels back to equilibrium and a market for making money from this could emerge. A two-hop source routing can invite people to perform transactions and share profits. Negative fees could be included in a route description which includes fees with constraints. A time-based model with serious modelling could work. The ideal payment calculation would be in satoshi-seconds.
Updated on: 2023-05-23T18:11:50.347529+00:00