Dearest experts on the Lightning network,
If a peer closed their channel that we had together and the closing transaction fee is set to 1 sat/vbyte, what happens with our current mempool status? Normally, these sats would show up in a couple days, but with the current fee structure, I'm curious as to what happens next if this fee is set below the current threshold? Do I just keep waiting? Forever? Can this transaction get pruned? If so and that happens, what next? Thanks.
RBF no?
hmm. the transaction does seem to be RBF enabled. now to see if i can bump it. never done that before.
Right now anything under 1.94 sats/byte is getting pruned from my mempool
That's a good question. Following.
If you use LND it's
```lncli wallet bumpfee```
What happens to the transactions that occurred if you don't bump the fee and it gets pruned?
no clue?
the absolute worst case the unconfirmed transaction will simply disappear from the network, as if it never happened. Keep in mind that the your sats never actually leave your wallet. Itβs just that your wallet doesnβt show them as βavailableβ, but you still have options like RBF and CPFP to get your transaction confirmed with higher fees, or to βcancelβ your transaction by spending the same coins onto another address with a higher fee.
A transaction with very low fee rate might also disappear from the network if the mempool goes over 300MB in size, because by default a Bitcoin Core node will purge transactions from its internal mempool, starting with the lowest fee rates first, while increasing its minimum acceptable fee rates that it will broadcast further. even if the transaction has been forgotten by most nodes and doesn't appear anymore on blockexplorers, it is still a valid transaction and might have stayed in the mempool of a node somewhere. So it's better to use one of the inputs in another transaction to invalidate the original, "stuck" transaction (otherwise you risk it to be re-broadcast and be confirmed when you already forgot about it).
read more https://bitcoin.stackexchange.com/questions/96068/what-if-the-mempool-exceeds-300-mb/96070#96070
When you close the lightning channel, you must first wait for the lightning network to accept the closure, you will see the message "closing channel", the time depends if the channel was closed cooperatively or it was a forced closure, after a few blocks (again , this varies if the closure was forced or cooperative) the Transaction will appear in the mempool and will be shown in the wallet as a Tx to be confirmed and the fees will depend on whether it was a cooperative closure (less fee) or forced (higher fee), at that time you can apply RBF if you want to speed up the possibility of confirmation of the transaction.
