Lightning: open channel to self? \ stacker news ~lightning

340 sats \ 22 comments \ @ryenski 3 Jul lightning

Can I open a lightning channel with my own node? Let me explain...

My goal is to pay my kids for doing chores. Small amounts, less than 10k sats.

I've tinkered with LN before, and I do run my own node, but I do not currently have any channels. What I'd like to do is strategically open one or more channels so that I can send sats from my wallet, connected to my own node, to my kid's wallet, connected to the same node.

Some considerations:

I do not want to tie up a lot of liquidity in Lightning channels.
I do not care about accepting outside payments.
I do not care about routing external payments.
I only want to pay my kids from my LN wallet to theirs.

What are some options to accomplish this? Open to all sorts of suggestions.

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74 sats \ 0 replies \ @justin_shocknet 3 Jul

A channel is for external payments via a remote party, what you seem to want is a database with accounts for various users... looping a channel back to yourself does less than nothing and makes 0 sense

Lightning.Pub is an account system for Lightning nodes that will let you connect multiple user wallets over Nostr so there's no difficult networking, a payment to your kids would just be a database update

... But no one will be able to make or receive any REAL Lightning payments to the rest of the world without your node having a channel to the broader network, so you may as well just be writing down sats on a piece of paper until you do because you're node isn't actually doing anything

1 channel to bring your node to life would be enough for your whole family and costs a couple of dollars worth of sats

151 sats \ 2 replies \ @Lumor 3 Jul

Install LNBits and create wallets/accounts for them using a bit of your node's liquidity.

Start your own Fedimint/Cashu service which does virtually the same thing with some added privacy.

(I've only tried the first one with some private test accounts).

0 sats \ 0 replies \ @kilianbuhn 3 Jul

Some people have a looot of subaccounts with LNbits

0 sats \ 0 replies \ @ryenski OP 3 Jul

LNBits might be a good solution

21 sats \ 3 replies \ @jp305 3 Jul

Could run a mobile node on each wallet, but each would have to open a channel with your node.

21 sats \ 2 replies \ @DarthCoin 3 Jul

Yes, exactly what I described in this guide: https://darthcoin.substack.com/p/bitcoin-private-banks-over-lightning

0 sats \ 1 reply \ @jp305 3 Jul

My master!!

FYI just noticed the mutiny links in section C "Mobile devices software" are pointing to blixt pages.

0 sats \ 0 replies \ @ryenski OP 3 Jul

I mean, Darth is great, but I don’t know if I’d go that far… lol

17 sats \ 0 replies \ @MiddleWay 3 Jul

install blixt on their phones and open 0-conf channels from your lnd node. https://github.com/blckbx/NodeTools/blob/main/private-trusted-zero-conf-channels.md

17 sats \ 0 replies \ @supratic 3 Jul

Sound's like you want to compete with Fedi and use lightning nodes in closed communities! Never thought of using a bitcoin/lightning node on this way, it's a great example and use case.

Bitcoins can always come in and out of the node via onchain transactions.

If you are running a LND node, you could try playing with BlueWallet, not sure payments to self-generated wallets are allowed via lightning.

150 sats \ 3 replies \ @DarthCoin 3 Jul

You practically want to be a "private bank". Please read these guides:

More guides on: https://darth-coin.github.io/

0 sats \ 2 replies \ @ryenski OP 3 Jul

Yes, that is pretty much what I want. Thanks for these links.

0 sats \ 1 reply \ @DarthCoin 3 Jul

That's why I wrote several guides, to save time for people like you and give them the right solution for the specific use case.

0 sats \ 0 replies \ @ryenski OP 3 Jul

[meme of two dudes with big muscles shaking hands]

0 sats \ 1 reply \ @02d769cb73 3 Jul

how will the children use the money if they can't reach the wider Lightning network ?

0 sats \ 0 replies \ @ryenski OP 3 Jul

It is for their savings account. Periodically I sweep it to their on chain wallets.

Let’s be real, not a lot of people transact with lightning in real life.

0 sats \ 1 reply \ @ryenski OP 3 Jul

I mean, I guess I could set them each up with a SN account lol

0 sats \ 0 replies \ @DarthCoin 3 Jul

SN is not meant for that. You have better options.

0 sats \ 0 replies \ @ryenski OP 3 Jul

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0 sats \ 2 replies \ @Catcher 3 Jul

Interesting, I was thinking about the same today! How did you set up your kids wallets? Can you elaborate on this?

0 sats \ 1 reply \ @ryenski OP 3 Jul

I haven't done it yet. Up until now I've been using Phoenix, and then I was using Mutiny with a fedimint.

But I'm tired of getting rug-pulled by LSPs and I want to self-host. Looking for ideas.

100 sats \ 0 replies \ @Catcher 4 Jul

So I went through the comments yesterday and set up LNBITS with LNHUB extension. I already had a node so it was just couple of clicks and I set up a test BlueWallet. Interesting that when you send sats from your node to the test BlueWallet the balance on BlueWallet shows sats there, but in reality your lightning node balance doesn't change. So really like a bank for your kids. Can recommend:)