6 reasons why you want to close a bitcoin lightning network channel
Posted 9 months ago by LN+
Answer: No, you can keep channels open indefinitely. Many channels on the network are years old, and still working perfectly fine. There are 6 special situations when you want to close a channel listed below.
1. You absolutely NEED sats that are on your channel on chain instead. Examples for why:
- The Bitcoin price went 10x, thus you want to put sats in cold storage.
- You have to pay somebody on-chain.
2. Your peer went OFFLINE for a long time (9+ days), thus the channel is useless to receive or send. Also, if you both go offline, you may not be able to recover the sats in the channel. Don't be too hasty closing inactive channels, sometimes it takes a few days to fix a node.
3. You accumulated too many channels over time (100+), and your node is struggling to process all the traffic. This can happen on weaker hardware. Reducing channels fixes the problem.
4. You want to move your sats to a new node and you're not comfortable moving channel states files, or have no ability to do so. For example, when switching implementations (LND > CLN or vice versa).
5. You are going on a long sabbatical to a location without stable internet and/or electricity. Lightning nodes require to be online most of the time, unless you have a channel with a trusted node you agree with not to force-close you.
6. You're running a profit oriented routing node and a channel is not routing, but it is locking up funds (sats are on your side). Close and open to another node to make profit, unless you agreed to keep the channel open for a specific amount of time. You may also want to close & reopen to the same peer a larger channel if it was profitable.
If you can think of other reasons why you would want to close a bitcoin lightning network channel, please add a comment.
CRIXUS wrote 9 months ago
PEEVEDCHEF wrote 9 months ago
carlslight wrote 9 months ago
B) Fundamental changes in the fee strategy! If I have the balance on my side, I close the channel, because it is an too big experiment for me. Better to allocate the capital to nodes who know what they are doing.
8DegreesWO wrote 9 months ago
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