Recommended way to operate a group lightning node \ stacker news ~lightning

pull down to refresh

395 sats \ 7 comments \ @sirstackalot 18 Feb lightning

I'm part of a local online Bitcoin group and am thinking the best way to put our money where our mouth is and actually translate our ideals into action is by pooling together and starting a node with substantial liquidity and many open channels with well connected peers. What is the best way of going about this primarily in terms of:

amount of sats to start with
software to use
custodianship over the node (e.g. option for multisig for opening/closing channels + mainnet wallet)

To be clear this would be a node co-funded/owned by 5-10 people as a community service (initially at least)

view all related items

52 sats \ 2 replies \ @Winitober 19 Feb

I wouldn’t recommend moving in the direction you’re likely thinking. A single lightening node has no real built in concept of separation of power. Whoever holds the wallet keys has total control. Channels must be managed by an administrator who has total control over opening or closing channels.

In a group setting you might consider setting up an Alby Hub. That has a built in ability to creat “sub accounts”. It also removes the need for channel management and has a lot of built in integrations for nostr authentication etc. It’s also very easy to set up.

Beyond that i’d explore creating a Fedi Mint with a lightening instances. That would give you a governance structure for the bitcoin/feditokens while allowing you to use the lightning node for processing liquidity in or out of the mint.

$.02

21 sats \ 0 replies \ @nikotsla 19 Feb

Seems a bad idea to me too. There is no group of people managing a LN node, it will be only one person in charge.

21 sats \ 0 replies \ @Wumbo 19 Feb

Yes, I 2nd fedi (https://www.fedi.xyz/federationsetup).

Take it slow and learn as you go. You are jumping into the deep end of the tech pool

5 sats \ 0 replies \ @DarthCoin 19 Feb

Please start reading. Here is all info you need. https://darth-coin.github.io/nodes/nodes-en.html

Cofunded/owned by multiple users? No fucking way! That will end up in rug pull.

43 sats \ 2 replies \ @justin_shocknet 19 Feb

custodianship

There's a single key, so ultimately one point control of funds.. the other 4-10 people would be trusting the operator

Routing isn't something to be taken lightly and these are frankly noob questions, so why do you need to pool liquidity? Size and software comes from intent...

21 sats \ 1 reply \ @itsrealfake 19 Feb

Why couldn't there be a Multi-Sig to open the channel?

Another question:

Would this group be better served by relying on a single "group-hosted" BTC node and all pointing their individual LN nodes at it?

31 sats \ 0 replies \ @justin_shocknet 19 Feb

You could fund the channel from a group multisig, but the channel is still single party, the operator can close it to wherever they please unilaterally

Served in what way? If someone in the group is a serious routing operator then the others could connect with him instead of an LSP, not necessarily a benefit to that ... It's be about being able to get hold of them or trusting them if shit breaks

People that just want a custodian they know personally could have an account if the router runs Lightning.Pub or similar