Nostr Web Client

Ah thank you so much for the explanation. 🙏

I got some btc collecting dust in a drawer somewhere. Might try it.

But last question, if you and i open a channel of 1k and let's say I open up a stall selling tomatoes. Then I can't actually make any money unless I first spend that locked up 1k and can only accept sales up to 1k??

Ingwie Phoenix (aka. birb) 2y ago

Once you have a channel, you can receive sats through it - a channel isn't just for funds, but also for routing payments, like your uplink to the internet. So if you were to open said channel, you could receive a maximum of 1k sats before you had to either increase it, close it and make a new one, or spend some. That said - this is getting more into the weeds than I am really aware of...

For most of what I read, I used https://docs.lightning.engineering/the-lightning-network/payment-channels

Hopefuly it helps :)

Reply to this note

Please Login to reply.

Discussion

[NPC] Tony 2y ago

Aha! I get it now, if we open 1k channel on each side, the reason for the cap is that it's basically btc held in statis, it literary is a harrypotter showdown.

I can only earn +1k because that's the amount of force you're pushing my way, I can earn up to your share, closing the channel with me getting 100% and you zero. Okay wait. One more try:

A channel is basically a table where two parties put an equal amount of coins onto, and whatever happens from there it's up to those two parties to decide and keep track of who owns the bigger part of the pile. (If disagree they tableflip and walk away with half each)

The routing seems to be a layer ontop, where they volunteer to use their pile to help others make transactions. But the two parties can never leave the table with more coins than what was stacked in the beginning.

Somebody please proofread/correct me 🙏