3 ms·

This is incorrect and highly misleading. You don't have to open and close channels like that. Instead you keep them open and do circular rebalances when your ch

by pwm 6y ago

This is incorrect and highly misleading. You don't have to open and close channels like that. Instead you keep them open and do circular rebalances when your channels are imbalanced. As an experiment I've been running an lnd node for the last 6 months. During this time I've routed 1445 transactions totalling 4.68249963 BTC (~223K USD currently) and only closed a handful of channels, using single digit sat/vB as it's not urgent. Lightning transaction fees in general are negligible at today's btc price. You transact with all your peers for free while you usually pay a fraction of a cent for sending transactions anywhere in the graph. Transactions are pretty much instant. After running it for 6 months, I could certainly criticise various aspects of lnd but none of what you have written falls into the valid criticism category.

bibabaloo 6y ago
This sounds cool, do you have any recommended resources to get started with running a lnd node and getting it connected to a larger network? And, just curious, do you make any money from lighting fees?
- pwm 6y ago
  > resources to get started with running a lnd node? I use https://github.com/rootzoll/raspiblitz https://github.com/rootzoll/raspiblitz, easy to assemble and install and runs silently in a corner. > getting it connected to a larger network? Connecting to others is simple. What's more difficult is getting inbound connections, ie. others connecting to you. Historically you asked people to connect to you but recently you have https://pool.lightning.engineering/ https://pool.lightning.engineering/ (integrated into Raspiblitz) with which you can buy incoming connections easily. > do you make any money from lighting fees? In short no. I made ~$30 from routing fees in 6 months and spent around the same on on-chain fees (opening/closing channels). It's just an experiment for me (same with bitcoin itself) to see how it all works not something i expect to generate money.

by pwm 6y ago

bibabaloo 6y ago

This sounds cool, do you have any recommended resources to get started with running a lnd node and getting it connected to a larger network? And, just curious, do you make any money from lighting fees?

pwm 6y ago
> resources to get started with running a lnd node? I use https://github.com/rootzoll/raspiblitz https://github.com/rootzoll/raspiblitz, easy to assemble and install and runs silently in a corner. > getting it connected to a larger network? Connecting to others is simple. What's more difficult is getting inbound connections, ie. others connecting to you. Historically you asked people to connect to you but recently you have https://pool.lightning.engineering/ https://pool.lightning.engineering/ (integrated into Raspiblitz) with which you can buy incoming connections easily. > do you make any money from lighting fees? In short no. I made ~$30 from routing fees in 6 months and spent around the same on on-chain fees (opening/closing channels). It's just an experiment for me (same with bitcoin itself) to see how it all works not something i expect to generate money.