In Lightning Network. Can I open a new channel, left it open and use it multiple times to pay other people? I know that if there’s any kind of connection (through channels) between the person I opened the channel with and the new person I can pay the new receiver recycling the old channel. But there’s any way to use the same channel to pay multiple people or I just have to open a new channel for each payment to different person and pay the fees? I know I can avoid this with non-custodial wallet but I would like to do this while owning my own Bitcoin. Also, can I avoid the fees by running my own node?
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217 sats \ 0 replies \ @tomlaies 31 Dec 2022
Yes
Yes
No, you can use the same channel multiple times for everybody on the Lightning Network whenever you want
Yes, you can do this with your own node if you want
The fees on the Lightning Network are very low. And there are many people having zero-fee channels, you can specifically open your channels to those people if you want
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30 sats \ 0 replies \ @DarthCoin 31 Dec 2022
Yes.
A LN channel should not be closed, as much it is possible and use it for multiple in/out transactions.
You close a channel only in specific situations:
- your peer is not responding, or is mostly offline, so you cannot use that channel so often
- your peer is using high fees
- you simply don't want that channel anymore, you close your node
- your peer is shutting down his node
- you are shutting down your node
- you want to open a bigger channel with that peer
Otherwise... do not close that channel.
That's why is better to size your channels wisely from the beginning.
I wrote several guides about LN nodes and how to manage them. See my https://darthcoin.substack.com
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20 sats \ 0 replies \ @BitcoinIsTheFuture 31 Dec 2022
This is what makes it awesome!
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10 sats \ 0 replies \ @q 31 Dec 2022
Yes that's the purpose of channels, the likvidity you open the channel with is the amount you can transfer through the channel. Open more channels to other parties and you can route others transactions thorough your channels.
The transactions in lightning network can take multiple hops to get to the receiver, you can only avoid the fees for your transactions you route. And will pay fees for the other hops you need to take.
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