Author: ZmnSCPxj 2022-06-29 15:34:21
Published on: 2022-06-29T15:34:21+00:00
ZmnSCPxj explains the concept of feerate cards which is a mapping between a probability-of-success range and a feerate. He states that the payer wants to pay because it values a service or product more highly than the sats they are spending. If payment fails, then the payer incurs an opportunity cost as it is unable to utilize the difference in subjective value between the service/product and the sats being spent. However, ZmnSCPxj clarifies that the term "payment fails" here means that all possible routes below the fee budget have failed, causing complete payment failure that will result in the `pay` command erroring out with a frownie face. In this case, the payer loses the subjective difference in value between the service/product and the sats they would have paid.
Updated on: 2023-06-03T08:47:47.069773+00:00