Subject: Re: [bitcoin-dev] Scaling Lightning Safely With Feerate-Dependent Timelocks

From: Nagaev Boris <[email-masked]>
Date: Fri, 29 Dec 2023 22:17:01 -0300

Hey David!

On Fri, Dec 29, 2023 at 9:37 PM David A. Harding via bitcoin-dev
<[email-masked]> wrote:
> We can't prevent people from paying out of band, but we can ensure that
> the easiest and most effective way to pay for a transaction is through
> in-band fees and transactions that are relayed to every miner who is
> interested in them.  If we fail at that, I think Bitcoin losing its
> censorship resistance will be inevitable.  LN, coinpools, and channel
> factories all strongly depend on Bitcoin transactions not being
> censored, so I don't think any security is lost by redesigning them to
> additionally depend on reasonably accurate in-band fee statistics.

Feerate-Dependent Timelocks do create incentives to accept out-of-band
fees to decrease in-band fees and speed up mining of transactions
using FDT! Miners can make a 5% discount on fees paid out-of-band and
many people will use it. Observed fees decrease and FDT transactions
mature faster. It is beneficial for both parties involved: senders of
transactions save 5% on fees, miners get FDT transactions mined faster
and get more profits (for the sake of example more than 5%).

-- 
Best regards,
Boris Nagaev