So #lightning peeps. I guess I'm looking at looping as a way to lease some liquidity from on-chain funds since I can't afford to open proper sized channels? Because I have no channels to start with I can't lease any liquidity from something like lnserver yet. Any suggestions?
Discussion
nostr:nprofile1qy88wumn8ghj7mn0wvhxcmmv9uq36amnwvaz7tmwdaehgu3wvf5hgcm0d9hx2u3wwdhkx6tpdshsqgxnq5k28c74ywc7eqr8r6cmhgz30gh4ytse2audeq7aqw5dsjshpcndslud if you have any thought's that'd be swell!
Hmmmm... Thinking about leasing liquidity from a cashu mint. Putting my thinking cap on... What is your use case?
Cashu stuff it still over my head. Sunken cost on getting my node to work at this point I think. I just want to send and receive from plebs. I also want it to happen on my own servers. I don't have a smartphone so my options are limited for server based "wallets"
See my other note for details on my situation nostr:nevent1qvzqqqqqqypzqqm9x092su3hd9rdfe8aafxp5pzpak3cegkem9qhhvmqqm96406cqythwumn8ghj7un9d3shjtnwdaehgu3wvfskuep0qywhwumn8ghj7mn0wd68ytnzd96xxmmfdejhytnnda3kjctv9uqzq326z60ty967snf23eumhqmu50hfmr52ngdl0ry3zaemqshlhjl2sg80w2
Still thinking on this. I see Cashu mints as a low cost liquidity provider. I proved that to myself with the payment system I built. Now thinking how I could provide liquidity in exchange for some collateral.
Hmm. Okay I will look into it!
i pay like 10ksat per month to rent a LN node from alby, so about $3-4
there are channel peers you can use that allow you to make channels as low as 100,000 sats, which is like $70
you can run this on your own VPS, also, but you are probably going to end up paying the same and they are experts in deploying to their own rented VPS infrastructure
Well I already have the machines, my node is finally up, and it doesn't cost me any more to run than the rest of my services :/
I'm thinking a good single 500k sat channel would be enough for a little while and maybe 1m sat in the near future?
you really need two channels, one you fully pay, the other you pay a fee (typically about 20ksat) one will receive, the other you can send with, and as they progress they balance
and as i said, you can open 100k channels, there are channel peers that allow this, i'd suggest doing a 200 and 300k out and in for your case
So I should try to find someone willing to open channels that size? I think that's going to be plenty for now
So it looks like I need to purchase credits or existing LN funds to open? I currently have no channels so I can't send any LN at the moment. It looks like they're facilitating liquidity advertisements?
If you can't pay a lightning invoice then you'll have to buy credits. You can pay with another lightning wallet if you have one.
Magma is a central marketplace for buying liquidity and channels to your lightning node.
I can't get a lightning wallet if I can't get a lightning wallet :)
Use https://BancoLibre.com and referral code "fire" and you'll then be lightning compatible.
So I'm needed some kind of boostraping then? I was looking into looping because I can send on-chain funds for channel open. Also no KYC or smart phone for me.
Are you looking to send and receive equally, mostly send or mostly receive?
Probably more receive than send for software donations, although I'd like to be able to make some reasonable purchases here and there. I suppose I can do that when I can afford larger channels.
its tricky, I'm still getting my head around it... paid 16k sats to Megalith for them to open a 1mil sat channel with me and I'm hoping to be able to reuse this indefinitely by looping out through strike as they have free onchain withdrawals
Good to know! That kind of what I was thinking. So I don't have any custodial wallets, because I haven't found any that I can just jump into from a web browser without KYC. It's either mobile, or kyc, both, or broken, so figured my own node was the way.
there is also https://lightningnetwork.plus but it is not always clear what each node will accept as a minimum channel size and if they are bad at keeping their channels balanced you may find yourself cut off from the wider network
Yeah i've been looking at these sites, any listed with a low minimum channel size has pretty crappy connections if any at all.