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Regarding 2 I recently contacted the support team. They are working on having the option to switch off automatic on the fly channel creation on iOS
Why don’t people like on the fly channel creation? Using iOS
every on-the-fly channel creation cost you 3ksat that's why a bigger channel like 300k sat at the beginning is reasonable scenario
with Phoenix I usually do "orange pill" with 150ksat:
- I send 300k sat to some newbie
- then he/she send me back 150k sat
This way they get slightly above 300k capacity channel with 150k sats in it
shame on me, I just used 200k to open a channel a few hours ago:#190509
But yeah, 300k sats makes sense because of max(1%, 3k) for the channel open on Phoenix
I’m using Phoenix. Should every deposit be over 300k sats, or do smaller deposit amount get combined with an existing channel?
Or does every deposit create its own channel?
if incoming payment overflow the free space that you currently have in your LN channel - it will create a new channel and that's why it will cost you at least 3k sat fee, unless you have switched off automatic on-the fly channel creation
For example I have 800ksat channel, filled in 50% - so I'm ready to send or receive up to 400ksat (without additional 3ksat fee), and it was sufficient for me so far...
And what if I don't have enough inbound liquidity and I disabled on-the-fly channel creation? Would I be unable to receive payments?
of course you can activate on-the-fly channel creation, in such case my suggestion is to activate it rather "on-demand" but if you don't care about sudden 3k sat fee - keep it activated
Recommended path in case of Phoenix wallet: