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I encountered 'millisatoshi' (msat) while browsing Lightning Network..., see screenshoot below:
And subsequently I found it mentioned here:
https://github.com/ElementsProject/lightning/blob/master/README.md#sending-and-receiving-payments
Obviously, I am curious... I thought satoshi is the smallest unit?
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It's not a mistake, it's literally a thousandth of a satoshi. A satoshi is the smallest unit for bitcoin, but lightning can transact with even smaller units while channels are open. The amount is rounded down to the nearest satoshi when the channel is closed and broadcast to the blockchain to adhere to bitcoins limit.
So, a LN transaction for 50msat would be broadcast to the blockchain as what amount? – Willtech – 2018-01-28T11:20:59.647
It would not be, its less than 1 satoshi so if your balance was that small at closing time you would get 0. – MeshCollider – 2018-01-28T11:29:11.687
I suppose that's fine, you are technically not losing any BTC since you didn't even have 1sat. – Willtech – 2018-01-28T11:35:40.743
"The amount is rounded down to the nearest satoshi", so... even 999 msat would be rounded down to 0 sat. Which is technically fair and easier to implement. – Rosdi Kasim – 2018-01-28T14:34:35.250
I thought they wanted to use probabilistic payments. Are you sure about the rounding down? – Murch – 2018-01-28T14:44:26.990
2 @Murch not according to https://github.com/lightningnetwork/lnd/blob/master/lnwire/msat.go#L13-L18
It must be a mistake. I have nothing concrete from your reference to back up my opinion, hence not an answer, but they can not possibly mean millisatoshi, it is smaller than the divisible one satoshi unit of Bitcoin. – Willtech – 2018-01-28T10:54:45.513
But, I will try and find out definitively. – Willtech – 2018-01-28T11:01:58.633
@Willtech I added screenshot for further clarification. – Rosdi Kasim – 2018-01-28T11:20:59.087
Seems @MeshCollider has your answer. – Willtech – 2018-01-29T11:13:24.457