What happens when your Lightning Network routing node is fed with garbage transactions that never resolve? In short, it causes a lot of grief for routing nodes. What was once a smooth, global payment system can be locked up with trivial effort from a savvy script writer. Working in a small team of routing nodes,…
Lightning Liquidity Bot: a way to buy/sell liquidity within Telegram
One of the greatest strides being made on bitcoin’s second layer is the development of a market for liquidity. Bitcoin is a scarce commodity and can be “pointed” in channels to other peers on the lightning network. The open bitcoin lightning network is now beginning to price the demand for scarce liquidity in lightning channels.…
Central Bank Digital Currencies
Some news of critical importance that you may have missed: China has released a Central Bank Digital Currency as a trial in a city of 150,000. Europe is developing a CBDC, led by Christine LaGarde. Jerome Powell spoke this morning on the US investigating CBDCs to the International Monetary Fund. The upside: The world is…
Lightning Deep Cuts
I accidentally created network-centric pirate jukebox. All I wanted to do was start a Telegram chat where I could drop links to music I like. As soon as I involved bitcoin lightning payment tipping, it went from a music link dumpster to a community lightning faucet supporting great music finds. Listen in. Want to create…
Balance Of Satoshis: Batch Open Channels
One of the greatest tools of Balance of Satoshis (BOS) is the ability to batch open lightning channels from an exterior wallet. Any wallet that is capable of producing a signed Partially Signed Bitcoin Transaction (PSBT) or a signed raw transaction will be able to work for BOS, but I’d recommend using Electrum. [Just a…
Setting Routing Fees
The lightning network is about working together to save on fees. Why would you contribute to making fees even higher? Let’s take a look at routing fees and how you can start assigning value to the unique services you provide. Lightning channels carry risk The hashtag that’s unquestionably associated with the Lightning Network is #reckless.…
The Mempool and Lightning
Routing nodes are always looking for a bargain and if you know how to read the mempool, you’ll be able to get a little more schwing for your sats. Keeping your node online is the easiest way to earn income, but sometimes you need a few extra channels to keep your sats flowing if you’re…
Choosing a Channel Peer
Every lightning node on the lightning network has a unique set of connections to the rest of the network. Opening a channel to a peer isn’t “locking up funds.” In reality, it’s dedicating your capital towards not only that node, but all of it’s connections and destinations. What makes a good lightning channel? Connectivity Capacity…