0 sats \ 0 replies \ @falcoonbr 17 Jun \ parent \ on: Need some help with Blixt closed channel bitcoin
Doesnt blixt have any "channel states" (lncli pendingchannels)? waiting, pending open, pending close, pending force close? if that was a force close then it would show the block maturity height
Thanks for reply, I don't thing lnd is out of sync because almost everything works, I can send and receive payments, forward payments. How can I find a way to see the progress of that sync?
Downgrading isn't an option because v0.16.4 isnt compatible with the updated channels.db
I tried posting messages on their github page, but no one answered so far.
- If you're willing ensure your payments wont fail, get blixt wallet (non custodial), open a channel with bfx-lnd1 (the node), it will almost never fail and it will be extremely cheap (on LN fees) here's why:
- almost every node has a big channel with this node and as this node is a "sink" node, it sucks liquidity real fast then 95% of all nodes connected to this has its liquidity on bfx's side, therefore when you try to route a payment you are pushing liquidity over to bfx and bfx pushes liquidity to the destination real easily because the majority of the liquidity is on its side, ergo your payment will almost never fail even if it's couple of million satoshis (0.01btc+)
- But the situation reverses if you're willing to receive bitcoin you can't use bfx since it's gonna be expensive once few nodes have the liquidity to process and those which have will charge you for the effort. In this case, you should search for hosted solution or have an LSP to open a channel with you (at a cost)
So here's my tip:
To send payments, use the solution 1, if you need to receive BTC, use a custodial solution like Alby, Wos, coinos etc.. otherwise inbound liquidity upfront will be sorta expensive if you use non custodial solutions
If you're a merchant and need to receive a lot of liquidity, I suggest you purchase inbound liquidity with deezy.io or lnbig and purchase like 1btc inbound or a little less depending on your I/O.
Great information, but the exception of Boltz, all atomic swaps are down. And boltz swaps only BTCs on and offchain!
I'm about to discontinue the routing here as well. I also run a node for about 2 years and also ran in negative balance. Here's some topics I find relevant:
- People clever and or richer than me will make it happen profitably
- TOR connectivity is laggy and some time non responsive
- risk of being hacked
- risk of dying while a lot of bitcoins alocated within LN and no relative would be able to retrieve it (close channels and withdraw to sell is too complicated to do even with a tutorial)
- You can use a mobile wallet and a private channel with some big nodes or specific channels while keeping your private keys without the need of a computer and you can send LN free
- node restoration is a mess and pricy
I JUST DON'T KNOW why the community still pushes for ppl to host their own node!!
They implemented by the end of 2019 the SRM (MED):
Special Return Mechanism
The Special Return Mechanism (SRM) comes into play in cases of well-founded suspicion of fraud, whether actively identified by the institutions involved or when a user initiates a Pix transaction but soon realizes they have fallen victim to a scam. In such situations, it is necessary to file a police report and immediately notify the institution through official channels, such as customer service or the ombudsman. Within the Pix environment in banking apps, there is a direct link to the designated channel for filing complaints.
The victim's bank, in turn, will utilize the Pix infrastructure to notify the receiving institution about the transfer, so that the funds can be blocked. After the blockage, both the payer's institution and the potential scammer/fraudster's institution have up to seven days to conduct a more thorough analysis of the case to confirm that it is indeed a fraud. If the fraud is proven, the destination institution of the transaction returns the funds to the payer's institution, which must then credit the customer's account accordingly.
You don't actually know there is a file from the buyer, and you get your funds returned by surprise, so at the sellers point of view, there's no wait time, since he doesn't know there's a complaint.
Pix favors buyers, ergo, buyer is innocent until seller proves otherwise!
That's the opposite, pix is more reversible because it can be initiated by the user, and the other method (ted) needs to be initiated by the bank (the user needs to request it, and bank needs to aprove it).
Problem using TED is that we need to inform OUR CPF (national ID) to the buyer in order to receive TED, and that cause a problem because buyer can report this trade to our IRS (receita federal) withou our authorization!
I have people here from UK that needs local cash, but they pay in BTC, to provide them cash, I need to sell their btc, rinse and repeat! Not an option to deny them service!
Owning a node has the advantage that If you own some kind of system that earns from satoshis going and coming it surely helps you to mitigate some sats onchain (because you can open a channel directly with the service/exchange) ... But you actually don't need a full node (with all bitcoin blockchain) and 100% online to achieve that..
Simply download blixt wallet, put some sats there and open a private channel with the service you want and you're good to go!
Using LNbits as as service to family and friends it's fun, but you keep their custody (that's not very funny) because if something happens to your node (suppose you get hacked), you are held accountable for their funds (and yours)
In general, apart of being some kind of hobby (that you spend money, but you enjoy), having own node is difficult, risky and you end up spending money to maintain it:
I had 30 channels that I have lost 4 times due to UPS failing to protect the system from surge, and having to tinker with:
- Onchain fees from all force closure (from recovery)
- Onchain fees to open all channels again (cheaper cause you can batch open 10 at a time)
- Onchain fees from force closing some channels
- purchasing inbound liquidity
- spending days with funds locked due to maurity
- Spending days to recover funds from channels that force closing didn't work
- Spending sats rebalancing
- Extra Electricity having 24/7 pc on
- Buying the risk of being hacked - If somehow someone gets access to your RTL or SSH one can spend all of your funds!
If I do the math, I turn it off... But as a hobbist I'll tackle along a little more!
I feel exactly what you mean... But if you were a merchant, selling like 20k products per day through lightning, how do you manage all that inbound? it's almost like a tax 0.175% that you pay upfront (1750 ppm) buying inbound from routers!
Actually this website just gives info about provably unspendable bitcoins, and it's just 2,8k btcs provably lost.
Some time ago chainanalisys reported that probably 24% of all btcs were lost and that stands for 4,6mi btcs.
The average is little over 900 btcs lost everyday! (exactly the current emission rate 6,25 btcs / 10 min
and yes.. deposits using LN are instant. Betting on sports though have the usual 5 to 10 seconds settlement cause of surebet protection!