pentagon shape over clouds

Status

Completed

Pentagon Capacity

1,000,000 SAT

1.0M SAT / 0.01 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: 28 was created on June 27, 2021 by deeP.

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

deeP

Rated

Applied 5 months ago and last seen 4 months ago.

Has 12,850,000 SAT capacity in 11 channels.

Rank: 4 / Mercury Node.

A have opened to B

Node B

Channel Opened

tenochtitlan

tenochtitlan

Rated

Applied 5 months ago and last seen 5 months ago.

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

Rank: 2 / Iron Node.

B have opened to C

Node C

Channel Opened

Thunderlight

Thunderlight

Rated

Applied 5 months ago and last seen 2 months ago.

Has 5,325,000 SAT capacity in 9 channels.

Rank: 4 / Mercury Node.

C have opened to D

Node D

Channel Opened

5satoshi

Rated

Applied 5 months ago and last seen 28 days ago.

Has 95,321,339 SAT capacity in 70 channels.

Rank: 7 / Silver Node.

D have opened to E

Node E

Channel Opened

Applied 5 months ago and last seen 3 months ago.

Has 13,500,000 SAT capacity in 12 channels.

Rank: 4 / Mercury Node.

E have opened to A


42 Comments

deeP wrote 5 months ago

Let's go! Who's in?


tenochtitlan

tenochtitlan wrote 5 months ago

yup!


Thunderlight

Thunderlight wrote 5 months ago

Ready to go live ;)


deeP wrote 5 months ago

Great!
Don't overkill opening fees. I may put 3 sat/b max.
Enjoy!


Thunderlight

Thunderlight wrote 5 months ago

What kind of nodes do you use guys, like: Umbrel, Raspiblitz or Linux Server?


tenochtitlan

tenochtitlan wrote 5 months ago

I'm using umbrel for this one! You?


deeP wrote 5 months ago

I'm on Umbrel since a few months now. Very happy.


Thunderlight

Thunderlight wrote 5 months ago

For additional channels to this ring you can also try: https://explorer.acinq.co/


Thunderlight

Thunderlight wrote 5 months ago

I also use Umbrel on a Linux Debian Server in the data center.


deeP wrote 5 months ago

We have some qualitative and well connected nodes in this swaps, great, thanks ;-)
Willing to open more channels soon...


BitcoinsHeartbeat

BitcoinsHeartbeat wrote 5 months ago

Im still in pending, but: Hi guys ☺️✌️


deeP wrote 5 months ago

Welcome! 🙏
Let's open this up!


deeP wrote 5 months ago

Opening to @tenochtitlan at 3sat/b in progress!


tenochtitlan

tenochtitlan wrote 5 months ago

ditto @thunderlight


Thunderlight

Thunderlight wrote 5 months ago

My channel is full online to "5satoshi"


BitcoinsHeartbeat

BitcoinsHeartbeat wrote 5 months ago

@deeP my channel is full online to you ✌️


Thunderlight

Thunderlight wrote 5 months ago

@tenochtitlan is your channel to me full online, I have the status opening?


tenochtitlan

tenochtitlan wrote 5 months ago

not yet - still in the pipeline, selected low fees so it might take a little bit more. Looking at it on Mempool Trans ID: 7ce1722be1e26a49e661645af9f851ec9a92d4721aecd3d0d204216a6affd6df


Thunderlight

Thunderlight wrote 5 months ago

Thanks for the TxId, yeah it was a little bit too low.
You can replace by fee if you want.


Thunderlight

Thunderlight wrote 5 months ago

In RTL you can Bump Fee (RBF) for the transaction. 52 sat/vB is a good value to speed up.


Thunderlight

Thunderlight wrote 5 months ago

https://www.reddit.com/r/raspiblitz/comments/jpse4r/bumpfee_help/


deeP wrote 5 months ago

Don't rush it guys, low opening fees are key for some profitable channels.
Low fees transaction (3 sats/b) will get trough in 24h, or at worst in 3-4 days.


tenochtitlan

tenochtitlan wrote 5 months ago

agreed! ... mine is now online @thunderlight - it took a while - but that's all due to the current hashrate and block timings. Might get solve with next difficulty adjustment. ETA 4 days.
@deeP yours might be coming through by then.


5satoshi wrote 5 months ago

We're complete, are we planning a circular balance?


Thunderlight

Thunderlight wrote 5 months ago

Top, the ring is full online. It would be great to improve the ring over the time with connections to the mainstream wallets like: Bluewallet, Chivo or 1ML.

@5satoshi: What do you mean with circular balance?


5satoshi wrote 5 months ago

We have a ring but liquidity is always on one side. When one of us performs a 500k tx to himself, using the ring, all our channels will be balanced ready for ideal use.


deeP wrote 5 months ago

Commitment is done and channels are either open or still pending opening.
I feel no hurry here, and willing to wait a few more days, expecting the mempool to clear after the difficulty adjustment.
Only when all channels are open, we could do a circular balance.
However, how can we be sure the circular balance will get through every of our channels ? We may get shortcuts if some of you are already well connected.


deeP wrote 5 months ago

I'm in favour of connecting our ring to main nodes at some point.


5satoshi wrote 5 months ago

You can use a tool like https://github.com/RooSoft/igniter


deeP wrote 5 months ago

Cool, thanks. I'm gonna have to figure out how to use this tool on my Umbrel node.
However, only one of us could do this circular balance with 500.000 sats in order to rebalance all the channels, right?


5satoshi wrote 5 months ago

I'm not a fan of connecting to main nodes, more important is to connect the merchants that lack liquidity


5satoshi wrote 5 months ago

Yes, one of us is to perform that balancing. Others should reduce fee when this is happening or pay fee back later


BitcoinsHeartbeat

BitcoinsHeartbeat wrote 5 months ago

Let us pay the fee later back, I think it’s more easier


deeP wrote 5 months ago

All right, all channels must be activated by now thanks to mempool being cleared.
Could we start the rebalance ?
@5satoshi, you seem to be more experienced for it. Would you do it?
No problem to send you back some sats for it


5satoshi wrote 5 months ago

I'll look into it later in my evening.


5satoshi wrote 5 months ago

Done, channels are supposed to be balanced now - or almost, had some difficulties/learnings with my c-Lightning node setup.


deeP wrote 5 months ago

Hey @5satoshi, perfect move! My 2 channels with you are well balance. Great job, thank you very much.
Should we keep contact is some way? (here or somewhere else?)


BitcoinsHeartbeat

BitcoinsHeartbeat wrote 5 months ago

@5satoshi: Should we pay back a fee?


5satoshi wrote 5 months ago

I payed 8sat only. No need to pay back, you'd pay more fees than it is is worth.


Thunderlight

Thunderlight wrote 4 months ago

It makes sense to change the base fee for all channels to 0

How you can change your basefee #zerobasefee:

RTL: Peers/Channel - Choose Channel - Actions - Update Fee policy and set it to 0

Thunderhub: Channels - Update Details - base fee to 0

For more information (German): https://www.youtube.com/watch?v=VDp_ftHLGkY


deeP wrote 4 months ago

That makes sense for me. Will implement a 0 base fee policy to all my channels.


Thunderlight

Thunderlight wrote 2 months ago

Please update your nodes to LND: v0.13.3. They fixed a big bug.


Please sign in to post comments.