Oddbean new post about login | logout To send transaction on Monero: - Open wallet - Scan/paste receiver address - Eneter amount - Send Lightning: - Create a node - Open at least one sending cahnnel (pay the on chain fees) - Hope that you haven't messed any of the settings and everything goes through - For some unknown reason get a channel with less money than the one you opened - Open wallet - Scan/paste receiver address - Eneter amount - Send You see what I am talking about?
Oh and I forgot that there is a possiblity that the other node goes ofline and you lose access to your funds
You have not used Zeus.
I do. The opening channels part still applies
If you use their lsp Olympus does everything automatically and the channels are 0-conf, i.e. it opens immediately, so what you say is false.
Isn't olympus basically a node ran by them? So that makes non self custodian
Do you understand the term "open a channel with them"? You have custody of your channel.
I don't understand what olympus is and how does it work. Is it basically a node that you connect to and it opens channels to other nodes you want to open channels to? If it works tjat way it still has the problem that it is centralized (if you only oprn a channel with them and not anyone else).
Is this true? I've never run a lighting node (I did attempt it though and failed) nostr:nevent1qqsgyyg6vmz6l2x7awkgltqj0csdqrytyqdjrqgq2uy8a9kqey7rnxsprpmhxue69uhkummnw3ezuendwsh8w6t69e3xj730qgs8dcm0974lhkxr20lum287q7rh5zthae92nkducgj0qgpc6uan0pcrqsqqqqqpq6uxrn
It was my experience. Having to load a million sats min per channel with the risk of losing it wasn't for me.
Did you ever open a channel? What happens to the so called missing sats?
I did. I've lost ~$15. I think I could recover them but not 100% sure.
The only reason sats would go missing is if the other party force closes the channel.. and the fees are too high for the channel to close. It will close eventually. The channel must “clear” on-chain in order for the funds to be retrieved. Personally, I have been running a note for three years and I have never had someone force close a channel on me. And I make sure to open my channels with higher fees so that in case they close. (either on purpose or on accident.) then my channel can still clear on chain.
Running a node is one of the most exhilarating things you can do with your Bitcoin. When people mention Bitcoin is a pet rock. They completely forget about those of us who protect the network’s consensus mechanism. There’s two elements to think about when it comes to running a node. You can run a bitcoin, corn note and start defending the decentralization of the network today. The minute you talk about lightning you jump from 2009 to 2018. You introduce wildly more code into the system. While at the same time, allowing the opportunity for others (free of charge) to transact within your opened lightning channels. Using the hardest money on earth shouldn’t be easy. Using it instantaneously should be astronomically harder and riskier. And it is
Maybe if you're using paper and pencil to send via Lightning, but contemporary lightning wallets handle all that shit. You literally just paste your invoice and hit send. And wallets like Breez handle all the channel BS on-the-fly in the background without any user intervention.