Tuesday, October 30, 2018

Confused about how to make Lightning Node the most helpful to the broader ecosystem

For the hell of it I set up a Lightning node on my RaspberryPi. I have run bitcoin full nodes in the past, and with them you sync with the blockchain and then keep them on to relay and record. However, with Lightning, I see that I need to connect to other nodes, open channels, and fund the channels...

Most of the guides I have seen do not go far enough describing what to actually do. They tell you how to get a node installed (very helpful), how to open and fund channels, but not actually what happens next or how you might strategically choose a channel... it's like "hey, you made it work, good on you! kthxbye"

So... Hello World. I have a Lightning node set up. What the fuck do I do next to help the ecosystem in the best possible way? What does it mean if I open a channel with 100 others but fail to fund the channels? How can I tell if my channel has ever been used?

Thanks in advance.



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