Amazing and I thought the Trump drama was deep. Maybe the best thing would be for BIP148 to be activated with too little mining power to pull it off. Let them rot with with their own worthless chain.
What I don't understand is why blockstream is so bullheaded. They could easily provide a block size increase and still get their lightning network. Yea it wouldn't be worth as much up front but it would be better than getting nothing.
blockstream removed many onchain fee control mechanisms..
- removed priority formulae
- removed reactive fee estimation (so fee's dont instantly drop in low demand)
- added average fee (so fee's stay up even in low demand)
funny how coders remove code rules and instead just scream "just pay more"
all so onchain fee's are now ~$0.80(160sat/b on average tx of 400byte) instead of $0.04(average fee a year+ ago)
so that when they control the LN DNS seed to grab fee's they can charge anything from 0.01-0.75(per route through them) and people will still think its "cheaper" than normal onchan transactions
so imagine $0.07 LN fee for 1m people a day - repay $70m in 3 years
so imagine $0.035 LN fee for 2m people a day - repay $70m in 3 years
so imagine $0.07 LN fee for 10m people a day - repay $70m in 4 months
so imagine $0.035 LN fee for 20m people a day - repay $70m in 4 months