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Topic: The Lightning Network node experience - page 7. (Read 3333 times)

hero member
Activity: 868
Merit: 5808
not your keys, not your coins!
April 01, 2022, 07:18:21 PM
#52


On a positive note, my node routed 6 transactions today and I earned 351.58 satoshi. April looks promising!
Probably has nothing to do with me rebalancing our channel earlier yesterday. Grin
legendary
Activity: 1876
Merit: 3131
April 01, 2022, 05:35:58 PM
#51
March doesn't look good in comparison to other months. My Internet connection was unstable for over half a month and my node was down for a couple of days. I managed to fix it around the 26th and it took about 3 days before I started seeing routing attempts again.



On a positive note, my node routed 6 transactions today and I earned 351.58 satoshi. April looks promising!
hero member
Activity: 868
Merit: 5808
not your keys, not your coins!
March 02, 2022, 07:08:38 PM
#50
New record! 647.73 satoshi in fees collected from 60 transactions in February. A few days ago, I opened a dual-funded channel with @n0nce and it turned out to be the right call. We routed 41 transactions in a single day!


Hell yeah! I bet if you rebalance your channels a bit, it can continue. Grin
Seems like there is big demand to send from some of my peers to some of yours, but I'm almost out of outbound liquidity in our channel.
legendary
Activity: 1876
Merit: 3131
February 28, 2022, 07:41:01 PM
#49
New record! 647.73 satoshi in fees collected from 60 transactions in February. A few days ago, I opened a dual-funded channel with @n0nce and it turned out to be the right call. We routed 41 transactions in a single day!

hero member
Activity: 1176
Merit: 647
I rather die on my feet than to live on my knees
February 09, 2022, 04:14:07 PM
#48


I should say I haven't been very active changing fees to meet the new balances after a couple of forwardings. Maybe that is also holding my node a bit back. My node is not very big either. I think only around 0.06BTC of incoming liquidity, so I think it's kinda reasonable that my routing is not that good!
legendary
Activity: 1876
Merit: 3131
February 06, 2022, 05:45:26 PM
#47
Here are the stats for January. One of my largest channels, which I opened with some other bitcointalk user, was offline for at least half a month. Some of the routed payments were free of charge as I wanted to rebalance two of my channels this way.

legendary
Activity: 1876
Merit: 3131
January 06, 2022, 11:08:51 AM
#46
you can even open multiple channels in a single transaction. So you kinda pay once for two channels (however a bit more due to a larger transaction size).

In case someone still doesn't know, both c-lightning and LND can open multiple channels in a single transaction. The former has a dedicated command to it and the latter requires you to construct such a transaction manually. Mobile wallets users are out of luck for now.
hero member
Activity: 868
Merit: 5808
not your keys, not your coins!
January 06, 2022, 09:59:55 AM
#45
First of all, it seems franky1 is banned from the this subforum, so his post and replies to his posts might get deleted. Seems like they have a point when they say he consistently posts misinformation.

You seem to be stuck in 2017/2018. Transaction fees have been extremely low for quite some time now. Even 1 sat/vbyte is enough to get a transaction confirmed quickly. The smallest possible opening transaction with change weights ~152 vbytes (transaction; channel). The cost of that transaction was only $0.07.
The cool thing is that not only does a transaction often just cost a few cents (single digits) when sent at 1 sat/vbyte; you can even open multiple channels in a single transaction. So you kinda pay once for two channels (however a bit more due to a larger transaction size).
legendary
Activity: 1876
Merit: 3131
January 06, 2022, 06:10:41 AM
#44
My suggestion is use the server to mine raptoreum and you will make at least 100x lightning fees.

As n0nce has said, I am not really doing it to make a ton of money. If that were the case, I would open far many more (large) channels.

so instead of emphasising the 31cent 'energy cost' mention the $3 confirmation lock cost to peg into ln and the $3 cost to unpeg out of LN ($6 to use LN before even doing any 'payments')

You seem to be stuck in 2017/2018. Transaction fees have been extremely low for quite some time now. Even 1 sat/vbyte is enough to get a transaction confirmed quickly. The smallest possible opening transaction with change weights ~152 vbytes (transaction; channel). The cost of that transaction was only $0.07.
hero member
Activity: 868
Merit: 5808
not your keys, not your coins!
January 05, 2022, 07:29:50 PM
#43
This is just an observation and not an attack, but Lightning network seems like Quantum computer Shor's, always just around the corner but until now vastly surpassed by conventional technologies (conventional computers/large blocksize).

My suggestion is use the server to mine raptoreum and you will make at least 100x lightning fees.
Your whole post is off-topic, and I also don't understand what you want to tell us with it.

Nobody runs a Lightning Node to make money, and most of us here are especially uninterested in a random shitcoin whose name I suppose raptoreum is. One of the reasons is that Lightning fees are supposed to be low; that's the entire idea: fast, cheap Bitcoin payments with the security of normal Bitcoin transactions at almost no cost.

In theory, in the future if you route thousands or millions of these a day, even tiny fees could sum up to amounts that can cover the energy requirement for running that node. However, merchants and other entities might have other motivations to run a well-connected node. In the example of online- (or offline) shops, the motivation of running such a node would be that you won't have issues with customers not finding a route to your node and unable to pay. This alone would be enough for the merchant, and if they make 1 or 2 dollars a month extra through routing fees, that just goes on top.
member
Activity: 322
Merit: 54
Consensus is Constitution
January 02, 2022, 06:29:08 PM
#42
This is just an observation and not an attack, but Lightning network seems like Quantum computer Shor's, always just around the corner but until now vastly surpassed by conventional technologies (conventional computers/large blocksize).

My suggestion is use the server to mine raptoreum and you will make at least 100x lightning fees.
legendary
Activity: 1876
Merit: 3131
January 02, 2022, 02:40:18 PM
#41
You say this month, but we are January.

Of course your attached chart seems to show December information.. presumably the whole month.... in which it looks like you had a lot of activity in the first two days and then on the 7th but other than that you did not have a lot of activity.  Can you elaborate upon the meaning/interpretation a bit more?

Oh, I wrote that post on the 31st December and I meant to publish it on the very same day. "This month" obviously refers only to December and not January.

Two out of seven of my channels are used mostly for outgoing payments. On the 7th December, both of these channels became extremely unbalanced. I can route only a few thousand satoshi through them now. Once I rebalance them via circular payments, my node should start routing payments again (I have been getting a lot of failed attempts due to no liquidity since that day). I also need to adjust my feerate in those channels based on the rebalancing fee so that I can make a profit or at least don't lose any money.
legendary
Activity: 3654
Merit: 9972
Self-Custody is a right. Say no to"Non-custodial"
January 02, 2022, 01:43:32 PM
#40
December might look kind of underwhelming to you given my previous stats. I quickly ran out of liquidity this month and I didn't have much time to think about rebalancing my channels. I might end up letting the rebalance plugin run in the background to avoid this kind of situation again.



I am a little confused about the point that you are making Rath_.

Of course, I don't run a node, so I am attempting to live somewhat vicariously through some of these lightning thread topics... at least this node one.  So maybe your point would be more clear for someone who is actually more interactive with some kind of personal node running.

You say this month, but we are January.

Of course your attached chart seems to show December information.. presumably the whole month.... in which it looks like you had a lot of activity in the first two days and then on the 7th but other than that you did not have a lot of activity.  Can you elaborate upon the meaning/interpretation a bit more?
legendary
Activity: 1876
Merit: 3131
January 02, 2022, 07:14:59 AM
#39
December might look kind of underwhelming to you given my previous stats. I quickly ran out of liquidity this month and I didn't have much time to think about rebalancing my channels. I might end up letting the rebalance plugin run in the background to avoid this kind of situation again.

hero member
Activity: 868
Merit: 5808
not your keys, not your coins!
December 11, 2021, 09:06:28 AM
#38
Is that plugin just an alias for rsync? Cheesy Or how is it more sophisticated than that? I'll look it up in the code later; I guess you can schedule it more simply to run periodically, right.

Still, if lightningd updates the database while rsync is running, it could result in a corrupted backup. The backup plugin uses a special hook which prevents the database from being modified.
Oh, that's cool! Otherwise I'd have written a 3 line shell script that simply stops lightningd service, copies the stuff and starts the service up again. Should be equivalent in the end.
legendary
Activity: 1876
Merit: 3131
December 11, 2021, 04:45:33 AM
#37
Is that plugin just an alias for rsync? Cheesy Or how is it more sophisticated than that? I'll look it up in the code later; I guess you can schedule it more simply to run periodically, right.

Still, if lightningd updates the database while rsync is running, it could result in a corrupted backup. The backup plugin uses a special hook which prevents the database from being modified.
hero member
Activity: 868
Merit: 5808
not your keys, not your coins!
December 10, 2021, 11:59:09 PM
#36
Interesting. When I backed my C-Lightning node up and restored it recently, I just had to back up hsm_secret and the database. But I just copied the files after shutting down the service. No tools necessary. Worked flawlessly Smiley Just copied them to the new installation after it was done, and before starting it up; that's it.

I could have done the same, but I wanted to test out the backup plugin in case I ever need to use it due to drive failure. Hopefully, this never happens.
Is that plugin just an alias for rsync? Cheesy Or how is it more sophisticated than that? I'll look it up in the code later; I guess you can schedule it more simply to run periodically, right.
legendary
Activity: 1876
Merit: 3131
December 09, 2021, 10:24:05 AM
#35
Interesting. When I backed my C-Lightning node up and restored it recently, I just had to back up hsm_secret and the database. But I just copied the files after shutting down the service. No tools necessary. Worked flawlessly Smiley Just copied them to the new installation after it was done, and before starting it up; that's it.

I could have done the same, but I wanted to test out the backup plugin in case I ever need to use it due to drive failure. Hopefully, this never happens.
hero member
Activity: 868
Merit: 5808
not your keys, not your coins!
December 09, 2021, 08:35:34 AM
#34
~
Interesting. When I backed my C-Lightning node up and restored it recently, I just had to back up hsm_secret and the database. But I just copied the files after shutting down the service. No tools necessary. Worked flawlessly Smiley Just copied them to the new installation after it was done, and before starting it up; that's it.
legendary
Activity: 1876
Merit: 3131
December 09, 2021, 03:47:13 AM
#33
I decided to scrap my home server so I had to move my Bitcoin and Lightning nodes back to a Raspberry Pi. The migration process was painless. Here's what I did:

1) I made sure that my old VM won't boot anymore. You really don't want to accidentally run two instances at the same time or an outdated database.
2) I copied my hsm_secret to .lightning/bitcoin folder on my Raspberry Pi.
3) I ran ./backup-cli restore file:///mnt/external/location ~/.lightning/bitcoin/lightningd.sqlite3 to restore my channel backup.
4) I had to remove my backup file and initialize the backup plugin again: ./backup-cli init --lightning-dir ~/.lightning/bitcoin file:///mnt/external/location/file.bkp

My node is up and running with the same Tor address and channels. It is worth mentioning that LND docs explicitly state that migration between different operating systems and system architectures might lead to data corruption. I guess that's another legitimate reason to choose c-lightning over LND.
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