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Sorry for noob question. Are lightening payment fees based on % of the payment being transacted? How are they calculated? Where can I learn more about this and different wallets and stuff?

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Kevin 1y ago

Lightning payment fees are calculated by the nodes. You're relying on other nodes to route your payment. The node itself can specify how much they charge for your use of their channel.

In other words: your node is A. You have a channel to node B. But you need to send 1000 sats to node C. Node B has a channel with node C. Node B has it coded in their channel to charge 5 sats per route. So node A pays node B 1005 sats through your channel, then node B sends 1000 sats to node C through their shared channel.

Does this make sense?

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Discussion

Diyana 1y ago

I think so.... Here's my actual case that got me curious:

nostr:nevent1qqsvs5d4wqsf0hg9fy09uxrsayydfka5c0u3asj9ll2h2a2evsjn22gpz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsygp022celc2q3a57ur5snmv0etqn330nwrq9mcj0pkphptd8jafryvpsgqqqqqqs9cqtcw

Kevin 1y ago

So that depends... If you were using Alby as a custodial solution, they have specific rules for using their node. I know I read somewhere they charged 1% for using their service or something like that. It's considerably cheaper when using your own node instead of someone else's.

Diyana 1y ago

Got it. Yeah I have not moved it yet. I keep decreasing the amount I am sending to have more than 1% remaining inside @getalby but their system just keeps not allowing the transaction saying I should leave 1% .

Kevin 1y ago

Ugh... That's super annoying. The only thing I can think to do in that case is just close the channel and move the funds on-chain instead. It was a pain to get all my sats off of Wallet of Satoshi too. They need a "send max" button or something

Diyana 1y ago

Thank you, you are super helpful! I wouldn't even know where to begin to do that. But I did get it completed and all done last night! 🙌🏻🙏🏻