You should try to only open larger channels with larger transactions first. Next, these fees are the cost of being a self custodian of your Lightning funds. Running your own node comes with a cost. Phoenix is providing a service.
Discussion
The transaction was large enough, and my migrated channels were ample ..
Also, to send 1 sat it costs 4 sats!? .. this makes no sense!
As I have said, I don't mind paying fees to a service, but an increase of x5 is asking too much of a lowly pleb .. 🤷🏻
their fee schedule should be as follows:
- only mining fees are due on incoming payments (vs 1%/3000 sat)
- 0.4% for sending Lightning payments (vs 0.05% - 0.5%)
Exactly! .. sending payments at that rate is quite high, don't you think?
With Phoenix, I'm used to paying around 0.1% or less (which I think is reasonable) .. I'm afraid I just can't keep using lightning, paying at those rates, for everyday transactions .. I have to look elsewhere
I don't have much experience besides one test transaction so I guess I can't really comment on this too much besides stating what the fee schedule is supposed to be and how it's supposed to work.
Min 4 sat fee too, confirmed by them when I asked on twitter a few weeks back.