Somebody enlighten me. Is it true that Level 3/ISP interconnects have no settlement models? Sounds insane, like banking without ACH.
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Almost all of them, and absolutely not. This is how peering has always worked and how the Internet runs.
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The *only* places that are under capacity (at the peering level) are US monopoly ISPs that screw their customers systematically.
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Provide structural separation between the cable plant and ISPs and let ISPs compete and the problem magically vanishes.

