Topic: [Tutorial] How to create Lightning Network Channel (Testnet BTC) (Read 820 times)
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March 20, 2020, 12:13:55 PM
this thread is very useful for beginners like me in developing my knowledge of the Lighting Network Channel.
I'm currently developing a marketplace project for tourists, I plan to receive payments via Bitcoin too, good job OP..
I'm currently developing a marketplace project for tourists, I plan to receive payments via Bitcoin too, good job OP..
January 22, 2020, 10:46:40 AM
Filipino Version: https://bitcointalksearch.org/topic/tutorial-paano-gumawa-ng-lightning-network-channel-testnet-btc-5218362
Updated on the OP.An idea for you, OP, since the thread is created on the Beginner & Help section of the forum you should add a small description of what the Lightning Network is, why it is so important, something like a mini-FAQ(pun intended).
We already have this one- An Overview of Lightning NetworkMoreover, I have shared article written by BitCryptex, you can check out my article shared above to get most of the basic information about LN. If you have any particular question, feel free to ask.
Quote
Anyway, I'll bookmark the thread and translate it in Romanian language when I have time.
Let me know when you are done. I will gladly update the OP. January 17, 2020, 04:54:39 PM
An idea for you, OP, since the thread is created on the Beginner & Help section of the forum you should add a small description of what the Lightning Network is, why it is so important, something like a mini-FAQ(pun intended). Anyway, I'll bookmark the thread and translate it in Romanian language when I have time.
Edit: I've seen your thread just after I posted, I'll make sure to post here and pm you when the translation is ready.
Edit: I've seen your thread just after I posted, I'll make sure to post here and pm you when the translation is ready.
January 17, 2020, 06:49:40 AM
January 11, 2020, 05:15:20 PM
I want to open a store and accept payments through the LN payment system. How do I accept payments? Do I need to spend money first to get a limit for payment or do I need to use other software?
PrimeNumber7 has given an explanation above. You can check it.When you open a channel, you have your local balance & remote balance; which is the sum of the total capacity of that channel. The amount you can receive is your inbound capacity which can be increased in couple of ways through having channel created for you by others. It's kind of renting a channel. You can check it out here- https://blog.muun.com/the-inbound-capacity-problem-in-the-lightning-network/
Upon having some research, I found one tricky way to increase the inbound capacity. It can be done by exchanging BTC for BTC. You can send Lightning BTC to other in exchange of On chain BTC. There are exchanges/swap sites to execute this. hodlhodl.com, zigzag, sideshift
There are some services for sharing channel with you. You can get the available options link provided above.
You can maintain a node as well which will help you increasing your inbound capacity.
BitCryptex may give us a better solution. I am yet a bit confused on this matter to be honest.
January 11, 2020, 12:55:38 PM
I want to open a store and accept payments through the LN payment system. How do I accept payments? Do I need to spend money first to get a limit for payment or do I need to use other software?
PrimeNumber7 has given an explanation above. You can check it.When you open a channel, you have your local balance & remote balance; which is the sum of the total capacity of that channel. The amount you can receive is your inbound capacity which can be increased in couple of ways through having channel created for you by others. It's kind of renting a channel. You can check it out here- https://blog.muun.com/the-inbound-capacity-problem-in-the-lightning-network/
Upon having some research, I found one tricky way to increase the inbound capacity. It can be done by exchanging BTC for BTC. You can send Lightning BTC to other in exchange of On chain BTC. There are exchanges/swap sites to execute this. hodlhodl.com, zigzag, sideshift
There are some services for sharing channel with you. You can get the available options link provided above.
You can maintain a node as well which will help you increasing your inbound capacity.
BitCryptex may give us a better solution. I am yet a bit confused on this matter to be honest.
January 11, 2020, 05:27:49 AM
I want to open a store and accept payments through the LN payment system. How do I accept payments? Do I need to spend money first to get a limit for payment or do I need to use other software?
January 10, 2020, 11:25:34 AM
why can't I share a screenshot of the balance?
I didn't see any secret information in your test's pictures
Nothing special other than a little bit awareness for self protection.I didn't see any secret information in your test's pictures
You might be the target of hacker or any other prying eyes if you reveal your balance; that's not guaranteed. I guess the perfect sentence here is- Prevention is better than cure.
OP updated with the translated link.
January 10, 2020, 11:04:07 AM
Russian Version - https://bitcointalksearch.org/topic/lightning-network-channel-testnet-btc-5216475
why can't I share a screenshot of the balance?
I didn't see any secret information in your test's pictures
why can't I share a screenshot of the balance?
I didn't see any secret information in your test's pictures
December 29, 2019, 12:38:04 AM
There are some services that, for a fee, will open a LN channel that will allow you to receive a certain amount of coin, even if you have not spent anything on LN. This is known as having inbound capacity. You will typically need to pay the service the cost of the opening and closing transactions in advance, plus a percentage of the inbound capacity you are asking them to provide.
Thank you for sharing this. I had no idea what it was although I have encountered something similar to this when I tried to create a channel; didn't bother much at that time though.
December 28, 2019, 11:58:59 PM
today I continue make some test and was made payment another shop https://lnroute.com/shop/
and success ordered some tea
https://lnroute.com/checkout/order-received/10527/?key=wc_order_qRdZpdvB5K3Oq&utm_nooverride=1
and success ordered some tea
https://lnroute.com/checkout/order-received/10527/?key=wc_order_qRdZpdvB5K3Oq&utm_nooverride=1
December 28, 2019, 06:13:31 AM
I have been following your tutorial and made success payment
I use https://coinfaucet.eu/en/btc-testnet/ to get Bitcoin testnet.
And I was posted your thread on my local forum: https://bitcointalksearch.org/topic/test-net-eclair-wallet-bikin-channel-dan-pembayaran-lighting-network-5213094
Thank you.
I use https://coinfaucet.eu/en/btc-testnet/ to get Bitcoin testnet.
And I was posted your thread on my local forum: https://bitcointalksearch.org/topic/test-net-eclair-wallet-bikin-channel-dan-pembayaran-lighting-network-5213094
Thank you.
December 27, 2019, 07:06:50 AM
In using Lightning Network, how can I transfer my Bitcoin from my regular Bitcoin wallet? Is that possible?
I started to become curious about that since I am planning to explore Lightning Network of Bitcoin and start creating my own Lightning Network Channel.
When you will create a channel with for instance: starblocks to pay for a coffee, you will fund the channel at the beginning. You have a limit of having a maximum 0.16 BTC funding & a minimum amount determined by the Lightning Node you are using. I'm not sure what you are referring by own channel. Everyone requires to create channel in order to pay with LN. I guess you are speaking about running Lightning Node. I started to become curious about that since I am planning to explore Lightning Network of Bitcoin and start creating my own Lightning Network Channel.
December 26, 2019, 07:18:35 PM
In using Lightning Network, how can I transfer my Bitcoin from my regular Bitcoin wallet? Is that possible?
I started to become curious about that since I am planning to explore Lightning Network of Bitcoin and start creating my own Lightning Network Channel.
I started to become curious about that since I am planning to explore Lightning Network of Bitcoin and start creating my own Lightning Network Channel.
December 26, 2019, 03:53:38 PM
@Loganota
I have been encountered the following when I tried out sending you through your payment request. I'm not sure why it's happening. Have you closed the channel?
I have been encountered the following when I tried out sending you through your payment request. I'm not sure why it's happening. Have you closed the channel?
I didn't. Channel is open for me and i'm able to receive 0,0495 BTC.
Edit: Maybe my eclair wallet has to be open by the time you send the coins?
December 26, 2019, 03:10:28 PM
@Loganota
I have been encountered the following when I tried out sending you through your payment request. I'm not sure why it's happening. Have you closed the channel?
I have been encountered the following when I tried out sending you through your payment request. I'm not sure why it's happening. Have you closed the channel?
There are some services that, for a fee, will open a LN channel that will allow you to receive a certain amount of coin, even if you have not spent anything on LN. This is known as having inbound capacity. You will typically need to pay the service the cost of the opening and closing transactions in advance, plus a percentage of the inbound capacity you are asking them to provide.
Thank you for sharing this. I had no idea what it was although I have encountered something similar to this when I tried to create a channel; didn't bother much at that time though. December 26, 2019, 01:59:43 PM
Please remember that you can only receive fund what you have spent. If you have funded your channel with 0.01 BTC & you haven't spent anything yet, you can't receive any amount.
December 26, 2019, 01:38:54 PM
Here is the translated post:
https://bitcointalk.org/index.php?topic=5212752.new
Thanks for creating the tutorial and for allowing me to translate.
I created a new payment request (with 6 hours expiration this time
).
ID: lightning:lntb1p0qfme7pp57m2jxyx6ugwxn0xdhwtwqeshem8h0h8va4acynsxzzmlj3f3j6aqdqqxqr4rqrzj qwfn3p9278ttzzpe0e00uhyxhned3j5d9acqak5emwfpflp8z2cngx85tgqqqxqqqqqqqqlgqqqqqeq qjqxa7x88gj5xt8pvu62w4d4fvh5c7d62w4xzs55vfwqfj4lnwdfwys7w6mj7g00ga6kzvppgzdu4yq qnleeln79kw6el5zt9c8ptn8xwqpc2cqjc
https://bitcointalk.org/index.php?topic=5212752.new
Thanks for creating the tutorial and for allowing me to translate.
I created a new payment request (with 6 hours expiration this time
).ID: lightning:lntb1p0qfme7pp57m2jxyx6ugwxn0xdhwtwqeshem8h0h8va4acynsxzzmlj3f3j6aqdqqxqr4rqrzj qwfn3p9278ttzzpe0e00uhyxhned3j5d9acqak5emwfpflp8z2cngx85tgqqqxqqqqqqqqlgqqqqqeq qjqxa7x88gj5xt8pvu62w4d4fvh5c7d62w4xzs55vfwqfj4lnwdfwys7w6mj7g00ga6kzvppgzdu4yq qnleeln79kw6el5zt9c8ptn8xwqpc2cqjc
December 26, 2019, 12:30:02 PM
I'll leave my request here and ask permission to translate and post in the Portuguese board.
Of course you are allowed to transalate it into Portuguese. In fact, anyone can translate it into their local and post in bitcointalk. Make sure you have given a credential link to this article; put a link of your translated article here. I will update the OP with all the available translation link.I thing create a channel for an advance user not for a beginner like me. Always failed to connect node
Creating a channel is very easy; have a try it into Eclair. I guess you are talking about running a lightning node which I guess might not be easy for us. Jump to: