How to best help the Lightning network? \ stacker news ~bitcoin

pull down to refresh

2135 sats \ 12 comments \ @elvismercury 3 Nov 2023 bitcoin

A recent post on SN asked about people's barriers to running a Lightning node. My answer was that there's nothing substantial that it would get me, really. Literally the only useful thing I've done on LN was to fund my SN wallet. So there is not a felt need pulling me forward.

However! I'd like to help the LN be robust. I run a btc node, I'm sure I can figure out how to run a LN node. But I don't have a good idea of how to contribute, esp in light of some of the recent discussion of security issues, where connecting to random nodes may not only not be useful, but may be actively counterproductive unless you spend a bunch of time and deeply know what you're doing. I'm willing to spend some time and learn what I'm doing more or less, but not more than that.

So for someone technical, who's willing to learn what's necessary and invest in the hundreds of dollars to contribute, what's the best thing to do?

view all related items

194 sats \ 1 reply \ @DarthCoin 3 Nov 2023

JUST USING IT!

Pay to merchants Receive payments. This will create traffic.

So for someone technical, who's willing to learn what's necessary and invest in the hundreds of dollars to contribute, what's the best thing to do?

https://i.postimg.cc/d0NGbfZy/darth-call-help.png

one of them here: https://darthcoin.substack.com/p/managing-lightning-node-liquidity

0 sats \ 0 replies \ @kepford 3 Nov 2023

I second this. Also, when more people understand how it works this helps onboard others as well as explain how it works to new folks. There is no better way to learn than to do it.

152 sats \ 0 replies \ @xz 3 Nov 2023

I think you've just got to see it from your own standpoint. Far from being an expert on LN technology, topology etc., but I think I just want to learn and is a motivation.

I think the main distinction missed, is that, you can route payments, and make a small profit if you keep your node running, liquidity managed but if you think it's less useful to learn such things then you could open and close (public) channels when needing to make payments. Keep (public) channels open for a longer duration if you think it useful.

You could look at if private channels with intimate contacts would be helpful. I think that would be one way to help a network (your own intimate network) where payments can be passed back and forth. There's also a learning curve to understanding but less need to keep your node liquidity or up time managed as those channels are not advertised to the LN.

edit* I'm sure you can also make a sizable loss, as a node routing payments. So, best to avoid that too.

152 sats \ 0 replies \ @Athena_Alpha 3 Nov 2023

Like with most things, the best way forward is 20% reading (usually best done first) and 80% doing (usually best done when you feel you have no idea what you're doing 😂).

We have a couple of guides below, but there are plenty of others online like @DarthCoin and BTCSessions videos

Just go slowly and start with a small(ish) channel first, such as 1M sats. After you've read a bit and opened your first channel, read a bit more and also re-read over the new security issues as you'll "get" them better with the experience 👍

And welcome n00b Node Runner! 🤘🤘🤘

81 sats \ 0 replies \ @benthecarman 3 Nov 2023

Yeah don't just run a random lightning node to "help" the network, this will likely just actually hurt the network by just creating unreliable routes.

The best way to help to use it as already stated. Finding issues and reporting them with detailed reproduction steps and logs is immensely useful to devs.

42 sats \ 0 replies \ @kristapsk 3 Nov 2023

Good way to start would be to pay using LN whenever possible and and if you yourself offer some services or want to sell some stuff, allow other party to pay you using LN.

21 sats \ 0 replies \ @sime 3 Nov 2023

As mentioned. Use it. We need more demand

0 sats \ 1 reply \ @03a5308755 4 Nov 2023 freebie

Best you can do for Lightning is to build a really appealing service that can only be paid for with lightning