pentagon shape over clouds

Status

Completed

Pentagon Capacity

10,000,000 SAT

10.0M SAT / 0.1 BTC

Spaces Available

None

All 5 spaces are filled

Channel Duration

12 months or more

Open at least till: June 27, 2022

Description

This is a Bitcoin Lightning Network liquidity swap, designed to help LN node operators generate both outgoing and incoming liquidity, increase connectivity and decentralization of the network.

Swap ID: 19 was created on June 27, 2021 by FUCK ELON.

What to Do Next?

This Swap is closed for applications. Please find another Swap, and sign in to join or start a new one.


Node A

Channel Opened

FUCK ELON

Rated

Applied 4 months ago and last seen 2 months ago.

Has ~4.261 BTC capacity in 65 channels.

A have opened to B

Node B

Channel Opened

Sidewaysram

Sidewaysram

Rated

Applied 4 months ago and last seen 3 months ago.

Has 1,100,000 SAT capacity in 2 channels.

B have opened to C

Node C

Channel Opened

Steed

Steed

Rated

Applied 4 months ago and last seen about 1 month ago.

Has 99,950,177 SAT capacity in 31 channels.

C have opened to D

Node D

Channel Opened

fishfeed

Rated

Applied 4 months ago and last seen 5 days ago.

Has ~1.419 BTC capacity in 25 channels.

D have opened to E

Node E

Channel Opened

Applied 4 months ago and last seen about 2 months ago.

Has ~3.596 BTC capacity in 42 channels.

E have opened to A


36 Comments

Sidewaysram

Sidewaysram wrote 4 months ago

ill open channel when this is ready (if more than 6 hours), or in ~6 hours :)


Bank O'Ballgame wrote 4 months ago

I have initiated channel open with FUCK ELON - i hope that is you , max ;)


fishfeed wrote 4 months ago

i opened channel to you bank o'ballgame, should confirm within the next blocks


Bank O'Ballgame wrote 4 months ago

I see it coming in.

Should we plan to raise fees once confirmed - and then try to coordinate a rebalance around this loop once all channels are up?


fishfeed wrote 4 months ago

all in for a rebalance. open for raised fees, not a priority though


FUCK ELON wrote 4 months ago

@Sidewaysram: Channel pending, could take a day or two.

@Bank O'Ballgame: imo it would make sense to collectively lower the fees to zero prior to the rebalance and then raise them so the channels stay balanced


fishfeed wrote 4 months ago

+1


Bank O'Ballgame wrote 4 months ago

Max (mind if i call you max?),

i agree. I meant as the first channels come live (assuming some open sooner than others) it might make sense to raise fees (up to like 5000ppm) until all channels in loop are opened and confirmed. This prevents someone sniping some of our loop's liquidity before a circular rebal.

But once all 5 channels are confirmed, we can all lower fees to 0 and someone can initiate the rebal - leaving us all with 2 balanced channels. We can then each adjust our own fees however we'd like.

I did this with a loop of four channels yesterday - we did 4m channels and the 2m rebalance came through all nodes with rebal fee of 3 sats (sometimes 0 causes problem for certain nodes - works on mine)


fishfeed wrote 4 months ago

sounds good


Bank O'Ballgame wrote 4 months ago

They should clarify the "channel opened" button to be after confirmation or after broadcast - or maybe there should be a button for both. Or maybe even require you enter tx id when clicking "submitted" and then lightningnetwork can track themselves.


fishfeed wrote 4 months ago

true


Sidewaysram

Sidewaysram wrote 4 months ago

initiated channel open


Steed

Steed wrote 4 months ago

Channel open from me to fishfeed pending


Bank O'Ballgame wrote 4 months ago

Fish - we were so close 9 hours ago!!! Not sure this pump is gonna help clear out the mempool either. I might have to bump fee tomorrow if no progress by then.


fishfeed wrote 4 months ago

yeah i didn't see that coming. hoping for more frequent blocks after diff adjustment on thursday.


Steed

Steed wrote 4 months ago

I also chose moderate fee. Expect tx to go through 1-3 July. If you guys want I can bump fee


Bank O'Ballgame wrote 4 months ago

I bumped fee as mempool hasn't gotten any better over night. Should get confirm in a few blocks (now).


FUCK ELON wrote 4 months ago

1sat/vbyte per default

I'll die on this hill


Bank O'Ballgame wrote 4 months ago

I admire your low time preference, Max! I will work on my mindfulness to resist more impulsive fee bumps.


Bank O'Ballgame wrote 4 months ago

I have confirmed to FUCK ELON. I jacked my ppm way up to 5000 to prevent any forwards until our loop is complete. Once everyone confirms i will lover fee to 0 and we can try to rebalance to loop.


fishfeed wrote 4 months ago

can confirm FUCK ELON will wait months for confirmations :D

345 blocks to go until retarget, let's hope mempool clears after that.


Steed

Steed wrote 4 months ago

My channel to fishfeed open :)


Steed

Steed wrote 4 months ago

My channels are balanced on both sides already!


Bank O'Ballgame wrote 4 months ago

Still no channel confirmed to me. Hopefully this clears out sooner than later. I do see Fish's opening.

Since a it won't be possible to rebalance the loop now that Steed and Sideways channels have moved their liquidity i will just rebalance FUCK ELON and set fees normal on that.

Its too bad we weren't able to rebal the loop - that is MUCH cheaper than what we're likely to do now.


Bank O'Ballgame wrote 4 months ago

It would be interesting to see what the costs of rebalancing a channel the hard way + 1 week of lost routing were - might be close to the extra costs of opening at 5 sats/vb vs locking up liquidity indefinitely waiting for confirms at 1 sat.


fishfeed wrote 4 months ago

my opening tx finally confirmed.


Bank O'Ballgame wrote 4 months ago

nice - thanks Fish. I have managed to almost balance with Max and got a bit done with Fish as well.


FUCK ELON wrote 4 months ago

Mempool cleared. Channel to Sidewaysram open!


Bank O'Ballgame wrote 4 months ago

Indeed. Well done, Max! You deserve to be thousands of satoshis richer for your patience.


FUCK ELON wrote 4 months ago

got a bad rating for my low time preference instead :(


Bank O'Ballgame wrote 4 months ago

Yeah - saw that - wouldn't have been my move - i feel like you were pretty clear on your plan. I gave Fish a positive once his opened today. I wouldn't mind a positive myself ;)


FUCK ELON wrote 4 months ago

Bank O'Ballgame 1337


FUCK ELON wrote 4 months ago

yesir... 1sat/vbyte I'll wank on this hill


Steed

Steed wrote 4 months ago

@FUCK ELON your channel is still red, you need to click the button so it turns green. Maybe sidewaysram will update his rating then :p


FUCK ELON wrote 4 months ago

[PENTAGON COMPLETED]


FUCK ELON wrote 4 months ago

don't argue with rams...


Please sign in to post comments.