How to setup a #Lightning #node with 6,000,000 Sats? #asknostr

Hardware is a Dell Wyse 5070, running proxmox and raspiblitz. Later I'll add Home Assistant.

How would you open a set of channels?

➡️ Connect to rather bigger nodes or connect to plebs I know personally?

➡️ Open a bunch of smaller channels with low capacity or open only a few big channels with 1,500,000 Sats or more?

➡️ Is automatic balance management economically feasible on a node with such a comparatively low capacity?

❓🧡💜

I'd love to read some views on this... 😉

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I’ll be following this. I have a node all synced and doing nothing because I have no channels set up. 🤔

What's the purpose of the node? Just for personal use? Do you expect to send or receive more sats?

Oh, I guess I forgot another point:

➡ Private or Public channels?

Private for personal use, or you could do public and set the fees really high. If you have public channels with low fees then other nodes will take advantage of them to rebalance their own channels and throw yours all out of balance.

What is the lightning node for?

If you want to use the node then create channels to the nodes you want to spend with like The Bitcoin Company for example.

If just for learning then perhaps setup an account with LightningNetwork.plus and find other peers to create channels with.

Amboss.space can also be used to sell liquidity with there Magma service.

feel free to open a channel to me. I would not suggest opening channels with very low amount.

Its so hard to rebalance those small channels.

Already some plebs opened channels to me and we had some good conversations and i could help them on the beginning. we solved a lot of problems and you can contact them if your node is offline for a a few hours or so and you dont get a sudden close!

Then cash out your lightning founds and start another channel, do it for or 5 times and you have some good routing!

I wouldn't open channels below 1.000.000sats. Its just too expensiv. Bigger is better.

Having more channels will increase the chance to succesfully route a payment and reduce the risk of having to rely on only 1 or 2 peers. So 9x1million channels is the best with your 6million I would say.

But it depends on how you wanna use it. I assume you dont want a routing node. And I guess you spend more than you expect to recieve.

Open 6x channels with each 1m with batching to reduce the fee. Do a submarineswap to move 500k out of each channel back too your onchain adress and open another 3x channels. You can recieve 1,5M and send 6M now.

In case your expectet spend/recieve ratio is diffrent swap out more or less too open more channels.

You could instead also open balanced channels straight away but that requires some coordination with the other node in LND. If use core lightning its easier.

Inform yourself beforehand about the terms and conditions of certain big nodes.

Some might close inactive channels after a certain time others might drain your side completly. I believe it was on amboss where people rate nodes weither they pull or push sats.

I'd say don't rely to much on channels from lightningnetwork+. Must users there are beginners. Their nodes may become inactiv and there routing quality is overall pretty bad. It makes you trouble. Its nice too support them once you have established own good connections.

Too keep it simple I recommend medium too big nodes too open channels too.

Lightning Terminal has a good channel peer recommandation. They also guide you on how you could increase the perfprmance of your node.

https://terminal.lightning.engineering/

To get some more informations check out:

[Hide&Seek Data --> Lightning] and also [Applications --> Stuff for running Lightning]:

https://bitcoin-overview.vercel.app/pages/Usage.html#1

LIT seems to be offering an "autopilot" when connecting your node to its online page. Have you tried it yet?

Not yet. Did you?