Hi all, I've been looking at the current lightning network fees, and it shows that 2/3 are sitting on the default (1000 msat + 1 ppm).
This has two problems: 1. Low fees are now a negative signal: defaults actually indicate lower reliability, and routing gets tarpitted trying them all. 2. There's no meaningful market signal in fees, since you can't drop much below 1ppm. Compare lightningpowerusers.com which charges (10000 msat + 5000 ppm), and seems to have significant usage, so there clearly is market tolerance for higher fees. I am proposing that as of next release of c-lighting, we change defaults on new channels to 5000 msat + 500ppm, and I'd like the other implementations to join me. Over time, that should move the noise floor up. I picked 500ppm because that's still 1% at 20 hops, so minimally centralizing. I picked 5000 msat base for less quantifiable reasons. Here's default fee a rate table in USD (@10k per BTC): Amount Before After 0.1c 0.0100001c 0.05005c 1c 0.010001c 0.0505c 10c 0.01001c 0.055c $1 0.0101c 0.1c $10 0.011c 0.55c $100 0.02c 5.05c $1000 0.11c 50.05c Thoughts? Rusty. _______________________________________________ Lightning-dev mailing list Lightningfirstname.lastname@example.org https://lists.linuxfoundation.org/mailman/listinfo/lightning-dev