2023 Mar 13

• Coming back to this

  • Still looking into it, but I think the suggestion for hooking EcdsaChannelSigner:validate_counterparty_revocation, although it has access to the commitment index and the seed (and I believe the pubkey to send to) needed to form a penalty tx, I don’t think it’s possible or at least practical/easy to also provide the commitment tx data or txid in this way. Also using this would be a sort of weird workaround required to use a watchtower because you’d need a key manager/channel signer supplied from teos.

  • Thinking it makes sense to push an event with the necessary information, and then teos could simply provide a handler for the event (at least for this primary usage of notifying a watchtower of channel updates).

    • At first I thought it might be necessary to be able to configure whether this event is generated to avoid bloat for users that don’t want watchtower capability, but I realize there are many other events that might be ignored by a user, and I imagine adding this event won’t be very resource intensive.

    • Thinking to look into how this might be done, maybe in Channel::revoke_and_ack…

  • Note: commitment txs can have no pending HTLCs, or have HTLCs as outputs, in which case you’ll need the HTLC data to form those txs to get the txids for a watchtower

• Can you have multiple pending HTLCs over the same channel at once? Yes. How exactly does that work? Each HTLC is just a new output on your commitment transaction.

• I never realized how impactful credit card fees are on merchants, especially a small business like a restaurant. Importantly, their profit margins are already so small, 3% off the total price is probably more like 10-20% (maybe more) of their income.

• What is the role of lending in a world where Bitcoin is the dominant currency? It seems like debt and lending can be a genuinely helpful tool to help people increase their productivity in a way they wouldn’t be able to otherwise afford. But the hypothesis I’m coming to is that it probably won’t be nearly as desirable with sound money. People would probably more often save than borrow when your money holds or increases in value, and debt does the same. It’d probably still have it’s place however. In this way you’d still have counterparty risk, but I’d imagine the scale of impact from mismanaging risk would not be nearly as large as it is today.