Unable to withdraw from SN \ stacker news ~meta

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25 sats \ 19 comments \ @wsnoopdogg 11 Jan 2023 meta

I'm playing with my recently built lightning node. I've opened a 20k sats channel with SN connecting to 03cc1d0932bb99b0697f5b5e5961b83ab7fd66f1efc4c9f5c7bad66c1bcbe78f02@52.5.194.83:9735. I've tried to withdraw some tips to test the channel but "there's no route". Ive increased max fees at 20 sats and neither does this work. The channel is online but the max receive from SN is 0 sats. How can I withdraw?

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384 sats \ 1 reply \ @DarthCoin 11 Jan 2023

I've opened a 20k sats channel

That is an outbound channel! You need inbound (to receive). Never do that (open small channels)! When you open a LN channel always think in the future use case. You do not open a channel only for the amount you want to do in single one tx throughj that channel. You are opening a channel to transact endlessly through that channel. So try to open at least 3M sats /channel if you really want to have a healthy node.

You get no route because you node is not well connected and you have really tiny small channels. Please read all my guides about running LN nodes and learn more:

Getting started with Umbrel node - read this more for all the introductory advice regarding to run a LN node
Recommendations for new LN users - very important guide
Lightning routing fees experiement
Getting started with LN
Node liquidity guide
Getting started with LNbits - read the part about liquidity and channels
Private banks over LN - read the part about liquidity channels

... and many more on my substack.

0 sats \ 0 replies \ @247bf84fda 25 Aug freebie

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20 sats \ 11 replies \ @DarthCoin 11 Jan 2023

Quick guide how to get inbound liquidity on a fresh LN node:

Open a 5M sats channel with one good LSP. Check here a list or whatever LSP you want.
Swap out half of those sats, using any swap service. Check here how to do submarine swaps and which services. Use you node onchain wallet to receive back from that swap.
With the sats you get from the swap, open a new big channel 5-6M sats with another good LSP.
Repeat step 2.
Repeat step 1 and 2.

Done, now you have 3 good balanced channels, ready to send and receive wherever you want. If you want to expand, use LN+ swaps or Ring of Fire groups opening more channels. Also you could repeat the step 1 and 2 with SN node.

NEVER open channels for less than 3M sats. You will regret it later if you open small channels,

0 sats \ 9 replies \ @wsnoopdogg OP 11 Jan 2023

I only have 2.9 M sats on the node. I will save money to add more sats to the node. Can't I have a well connected node with 2.9M sats? To get inbound liquidity do I need to open OUTBOUND channels (of 5M sats)with good LSP right?

Sorry for bothering.

0 sats \ 7 replies \ @DarthCoin 11 Jan 2023

Sorry for bothering.

Don't apologize for asking good questions about LN. I will help you with all I can, no worry.

I only have 2.9 M sats on the node

If those are all your sats ever, you should not use them all for a node. Is good to use no more than 30-40% of all your BTC for a node liquidity (if you run a routing node).
Not having a good amount of sats dedicated to run a routing node, will have bad consequences, for you and for the rest of the network.
There are 2 types of nodes: public routing nodes and private / non-routing nodes.

Public routing nodes needs a lot of liquidity in order to have a good flow. At least 20-30 channels with min 5M /each channel. Otherwise is just a pain and you will achieve almost nothing. These nodes are named "public" because anybody can connect and open channels with them and route all others payments. And charge a fee for each tx.

Private / non-routing nodes, needs less amount of liquidity, only the amount you need for your personal use, your own payments through LN. With 2-3-4 channels of 1M each you have enough to do your txs and you don't need to open public channel, you can use only private (unannounced / not visible in the LN graph). These private channels are NOT routing others payments, only yours! But you will still need to open inbound and outbound channels in order to be able to send and receive. For these private nodes I would suggest to use mobile nodes like Blixt, OBW, Breez, Phoenix, Electrum. Is more than enough for personal use.