The Critical Difference Between Bitcoin and Google

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So basically, it’s kind of a trade-off between the case where your channel partner falls over versus they’re trying to pin you and steal your funds. So basically you have symmetric payment channel networks, so the channel has symmetric state. It’s also just a life headache, but it’s a judgment call, because right now, LN kind of works on firm handshakes, nobody’s attacking each other, nobody’s doing channel jamming, but that could all change overnight. So it’s kind of how I got into this, I guess. Bastien Teinturier: Yeah, I think also one of the reasons we don’t see pinning is that really, it’s harder to pin right now and make it work your while, because right now, commitment transactions do pay some fees. Greg Sanders: Yeah, well part of it, right. Greg Sanders: Yeah, I can speak to that a bit. Needless to say as advertising has long been used as a tool to reach to new audience and customer base, Bitcoin advertising too can be extremely useful in that sense. The U.S. Commodity Futures Trading Commission has issued four "Customer Advisories" for bitcoin and related investments.

This dynamic exchange offers a wide variety of trading options, many different deposit methods, and very reasonable fees. And so you really have to care that there are ways of paying fees and getting in blocks properly, which there really isn’t that well right now. So, making sure that you are actually pinning it and getting more value out of the attack than what you paid to actually make the pinning work is probably quite hard today, especially with the state of the mempool. So, we’re going to be able with that to make good progress and hopefully, at some point, have a good enough solution to fix all those jamming issues. LN relies on the penalty a lot to kind of enforce good behavior, when I think it’s not as necessary in this imagined future with an improved mempool. I thought in my head, they’ll probably pick a better protocol by the time it actually would be required and ends up being true, so that’s good news. This is something that Rusty has proposed a very long time ago.

But that doesn’t mean they won’t be ready for the next time this happens. And if mempool stays full with a very high feerate for a few months, then there’s an incentive to start attacking, and I think we should be ready for that before it happens. Bitcoins per block (approximately every ten minutes) until mid 2020, and then afterwards 6.25 bitcoins per block for 4 years until next halving. When it was three months ago and the mempool was really full for a long while with high-fee transactions, then there was an opportunity to do pinning, but I don’t think any attackers were really ready to actually do that. And basically, there’s some choices to be made there. Basically, I think there’s some basic agreement on this line that we’re shooting for with package relay, v3, and ephemeral anchors, where the commitment transaction can get a very nice cleanup and improvement and kind of confirmation requirements, while the rest, there’s still some pinning vectors beyond that with HTLC transactions. Maybe, instagibbs, you can kind of talk to that a bit. So, these are kind of maybe big picture questions about how LN moves forward relative to some of these proposals that we’ve been talking about.