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Topic: Liberated: LoyceV's Legendary Little Lightning Loans - page 12. (Read 4798 times)

copper member
Activity: 1610
Merit: 1898
Amazon Prime Member #7
Quote from: LoyceV
After opening a LN channel, you need to make a payment first to get inbound capacity
There appear to be several services that will open a channel to your node to give you inbound liquidity in exchange for a fee that is a percentage of the size of the channel plus what amounts to the opening and closing TX fee. The percentage these services charge depends on how long you want the channel to be ‘guaranteed’ to stay open, but this is really just their word and is not an actual guarantee. I found some of these services on 1ML, so I know they have at least many open Channels, or someone who does is willing to display their name. I haven’t figured out a way to gauge any of their reputation, so I cannot estimate the likelihood they will follow through on actually opening a channel that gives liquidity.

I had found one that claimed to open a channel of the same size if you have an open outbound channel to them, for only the cost of the tx fees, but the above still applies.
legendary
Activity: 3290
Merit: 16489
Thick-Skinned Gang Leader and Golden Feather 2021
Sent. Please confirm at your convenience.
Although I'm a bit slow at posting here, the transaction was received at Lightning speed Cheesy

Quote
It was a pleasure. This gave me the opportunity to learn about the economics behind the current LN ecosystem.
Glad to hear that Smiley


While trying to open a new channel, I found out many nodes require at least 0.02 BTC per channel, but I'm not comfortable yet depositing $150 to an experimental network. It took me a while to find another one that accepts a lower amount. It's not confirmed yet, so I can't test it yet.
Until now, anything up to 3 satoshi had 0 fee, but anything above that had at least 1 satoshi fee. I'd like to see if 2 nodes lead to lower fees. My expectation is that payments take the cheapest possible route.


After opening a LN channel, you need to make a payment first to get inbound capacity. I bought 1000 Doge at https://www.coinplaza.it/ (ANN thread), but you can also exchange Bitcoin Lightning for Bitcoin.
copper member
Activity: 1610
Merit: 1898
Amazon Prime Member #7
If you can post an invoice in the next 15 minutes, I will pay you back tonight.
Code:
lightning:lnbc101u1pw0v9k6pp5023tmcssc39mnktdnnjupnpjz66rkdv72nc89649uxgjaep33q0qdqdwpshjgrzv93kkxqr4rqrzjqwryaup9lh50kkranzgcdnn2fgvx390wgj5jd07rwr3vxeje0glc7zxwl5qq04qqqqqqqqlgqqqqqeqqjqrl4dtaacqnwg8htva6d7xptsusshjx6pvkdzmdsd3fqq5am7f0vhvqwur4hdd2dw350nzk9xd2wdvf4t3x8hmyg9mlk7q29d5c8fmjgp96nnhu
Sent. Please confirm at your convenience.

It was a pleasure. This gave me the opportunity to learn about the economics behind the current LN ecosystem.
legendary
Activity: 3290
Merit: 16489
Thick-Skinned Gang Leader and Golden Feather 2021
If you can post an invoice in the next 15 minutes, I will pay you back tonight.
Code:
lightning:lnbc101u1pw0v9k6pp5023tmcssc39mnktdnnjupnpjz66rkdv72nc89649uxgjaep33q0qdqdwpshjgrzv93kkxqr4rqrzjqwryaup9lh50kkranzgcdnn2fgvx390wgj5jd07rwr3vxeje0glc7zxwl5qq04qqqqqqqqlgqqqqqeqqjqrl4dtaacqnwg8htva6d7xptsusshjx6pvkdzmdsd3fqq5am7f0vhvqwur4hdd2dw350nzk9xd2wdvf4t3x8hmyg9mlk7q29d5c8fmjgp96nnhu
copper member
Activity: 1610
Merit: 1898
Amazon Prime Member #7
0.0001 Bitcoin Lightning Loan sent to PrimeNumber7. Fee paid: 2.02 satoshi Cheesy

Welcome, my first customer!
Received.


I will play around with my client a bit and ask for an invoice to pay you back.
If you can post an invoice in the next 15 minutes, I will pay you back tonight. It is nearly midnight in California, and I need to be at work by 7.
hero member
Activity: 1643
Merit: 683
LoyceV on the road. Or couch.
Lightning Network uses milli-satoshis as smallest unit.

I'm more curious why it's 2 dot something: my guess is some node charges 1 or 2 satoshi, and another node charges just 0.02. I don't think one node would charge 2.02, and I've seen a "weird number" as fee quite often.
Vod
legendary
Activity: 3668
Merit: 3010
Licking my boob since 1970
Fee paid: 2.02 satoshi

How is this possible?  I thought a satoshi was the smallest amount you could break a bitcoin into? 

(Feel free to delete if off topic, but I am curious.  Smiley  )
legendary
Activity: 2184
Merit: 3134
₿uy / $ell
I want to try it too at a later stage.
My big house project is soon to be finished, just left to build a veranda and paint the roof and that will be all for this year and then I'll setup my Lighting node as I dream to do this for very long time now.
legendary
Activity: 2464
Merit: 3878
Visit: r7promotions.com
0.0001 Bitcoin Lightning Loan sent to PrimeNumber7. Fee paid: 2.02 satoshi Cheesy

Welcome, my first customer!
Holy Sh**!
I wanted to learn how to setup LN then I totally forgot about it. :-P
legendary
Activity: 3290
Merit: 16489
Thick-Skinned Gang Leader and Golden Feather 2021
@LoyceV - may I suggest explicitly stating your trust feedback policy because... you know... trust farmers.
Added:
Don't take a small loan to get positive feedback, join to try the Lightning Network Smiley


Please can I have a loan too? Thanks!
No. Only Members and higher are allowed, and your post history doesn't show anything else than applying for giveaways and loans, so you don't qualify for an exception.
newbie
Activity: 9
Merit: 0
Please can I have a loan too? Thanks!
copper member
Activity: 1610
Merit: 1898
Amazon Prime Member #7
0.0001 Bitcoin Lightning Loan sent to PrimeNumber7. Fee paid: 2.02 satoshi Cheesy

Welcome, my first customer!
Received.



I will play around with my client a bit and ask for an invoice to pay you back.
hero member
Activity: 1643
Merit: 683
LoyceV on the road. Or couch.
0.0001 Bitcoin Lightning Loan sent to PrimeNumber7. Fee paid: 2.02 satoshi Cheesy

Welcome, my first customer!
copper member
Activity: 1610
Merit: 1898
Amazon Prime Member #7
Time within 12 hours of 00000000000000000022d73ec793bd1c0bbbfa70a7098702711c634c101c8b9a
LN invoice lightning:lnbc100u1pw0gyygpp5nu7lxxrqr6sggmmwtasjvlvpc8p3hcmf98cqgj79my09274xeg9qdq6f3hkz m3qveex7mfqf3hhjcm92ccqzpgnzatmsy2eug3umpn6jy23hte2ttyjz20g43weul962wnm8vcs05rj 3efchhhtm40993kw0q36sy0hvvhpfflx2u8hwfhncnt999edlgqufhqvn
Eclair tells me: "this payment had expired".

Try this one:

-----BEGIN BITCOIN SIGNED MESSAGE-----
To ammend the post here

lightning:lnbc100u1pw0ggn2pp55rwr3kh5yetsa43h2x2g234kfdy9e83zvm9fxykx5rv3kh04xvfsdpyf3hkz m3qveex7mfqf3hhjcm92cs8guneyqeqcqzpgeh2lhm0gqyx68254u89ftu0q0qxddwz8w34jvctlp4n gzn27z049emt6jxy4e0cpajja4e43vsmc9h4j2ejyfwh6w6v4lvewvhy7wdqqlts8ls-----BEGIN SIGNATURE-----
bc1qak92tjzyev30pk6nkqhqjgmgxqj68fxvyn5tl7
H+IRiWBKfpYUm6KBJ5QgPkPQ67c20Ocjr3KDsoNH9QzDK6RcYG/mXMerLhC3K/+8gAQNLuHQWLU9BDVL+gfLDoI=
-----END BITCOIN SIGNED MESSAGE-----

BlueWallet appears to set the invoice to expire after an hour. I created it a few minutes ago
hero member
Activity: 1643
Merit: 683
LoyceV on the road. Or couch.
Time within 12 hours of 00000000000000000022d73ec793bd1c0bbbfa70a7098702711c634c101c8b9a
LN invoice lightning:lnbc100u1pw0gyygpp5nu7lxxrqr6sggmmwtasjvlvpc8p3hcmf98cqgj79my09274xeg9qdq6f3hkz m3qveex7mfqf3hhjcm92ccqzpgnzatmsy2eug3umpn6jy23hte2ttyjz20g43weul962wnm8vcs05rj 3efchhhtm40993kw0q36sy0hvvhpfflx2u8hwfhncnt999edlgqufhqvn
Eclair tells me: "this payment had expired".
legendary
Activity: 3612
Merit: 8904
https://bpip.org
May I suggest explicitly stating your trust feedback policy because... you know... trust farmers.
I am not sure if your post was directed about my request. If you bothered to read my post you would see the stated purpose very clearly says is to test my LN client. Nowhere did I imply that I expect trust in return for repaying >$1

Since I didn't quote or refer to you in any way it's obviously directed at the OP. But if the shoe fits I won't argue.
copper member
Activity: 1610
Merit: 1898
Amazon Prime Member #7
May I suggest explicitly stating your trust feedback policy because... you know... trust farmers.
I am not sure if your post was directed about my request. If you bothered to read my post you would see the stated purpose very clearly says is to test my LN client. Nowhere did I imply that I expect trust in return for repaying >$1
legendary
Activity: 3612
Merit: 8904
https://bpip.org
@LoyceV - may I suggest explicitly stating your trust feedback policy because... you know... trust farmers.

Edit to avoid offending touchy newbies.
copper member
Activity: 1610
Merit: 1898
Amazon Prime Member #7
-----BEGIN BITCOIN SIGNED MESSAGE-----
Date June 2 2019
Time within 12 hours of 00000000000000000022d73ec793bd1c0bbbfa70a7098702711c634c101c8b9a
LN invoice lightning:lnbc100u1pw0gyygpp5nu7lxxrqr6sggmmwtasjvlvpc8p3hcmf98cqgj79my09274xeg9qdq6f3hkz m3qveex7mfqf3hhjcm92ccqzpgnzatmsy2eug3umpn6jy23hte2ttyjz20g43weul962wnm8vcs05rj 3efchhhtm40993kw0q36sy0hvvhpfflx2u8hwfhncnt999edlgqufhqvn

Requesting loan in the amount of 0.0001 BTC from LoyceV. The purpose of this loan is to test my LN client.

In exchange for this loan, I promise to repay LoyceV in the amount of 0.000101 BTC by June 9 2019

Thanks.
-----BEGIN SIGNATURE-----
bc1qak92tjzyev30pk6nkqhqjgmgxqj68fxvyn5tl7
H5R0z9u/SSPpFhVCr2TMCZKm6/t0mLN0hoiYMlXwZR0OUVDdJuDEryxqfsE5IJSRI7r34Q+5jpWdjOsn2EXs0e0=
-----END BITCOIN SIGNED MESSAGE-----
copper member
Activity: 2142
Merit: 4219
Join the world-leading crypto sportsbook NOW!
Nice project, much lightning.

I have a little learning curve to overcome, but I'll request a loan from you just for fun once I've learned how to generate a pay request. 
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