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100 sats \ 0 replies \ @DarthCoin 24 Feb \ on: LNbits v1 Self-Custodial VPS Install (with Phoenixd and url/https) bitcoin_beginners
Worth mentioning this discussion from their github forum page, about fees, liquidity.
https://github.com/ACINQ/phoenixd/discussions/104
Until then, I will recommend to do the following, first time you install and run phoenixd:
- do not make a small first deposit!
- as your first deposit into that node, make a bigger one, 1M or 2M, depending on how much you expect to receive in a certain time into that node. That will charge you only one time fee.
- once you open up that big phat channel, withdraw to another LN wallet 90% of it and voila... you have a nice inbound channel. Or leave the % you need also for outgoing payments.
- NEVER withdraw all the balance! That will close that new channel. Always leave like 1-5-10%.
In this way you will not pay the fees each time you make another deposit into that channel. Splicing the channel will charge you 20k sats (or more) each time you receive a payment.
Size correctly your new channel before you start, think twice how much you will need.
Making small first deposits is a waste of sats.