Dear merchants: If you're using @BitPay to allow your customers to pay in Bitcoin, you're doing yourself and your customers a disservice.
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First of all, your users will be required to verify their identity by passport or other government issued id, which will result in funnel exits.
Additionally @BitPay charges a minimum 1% transaction fee.
Switch to @BtcpayServer - the free and open source alternative.
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Apr 5, 2022 • 4 tweets • 1 min read
I've updated my channel script to reduce locally failed forwards. Thanks @nitesh_btc for pointing it out.
If I don't have enough liquidity on my end, I will increase the basefee within 1 minute, to avoid routing failures.
If I have enough liquidity again, I will decrease the fee within 1 minute as well.
If you already had a decrease in fees within the last 12 hours, I will wait until the last decrease in fees was 12 hours ago, in order to not spam the gossip in the lightning network.
Feb 24, 2022 • 5 tweets • 2 min read
If you're using the default (custodial) channel that comes with @SimpleBtcWallet you may be at risk losing your funds, given the situation in Ukraine. Check if you have funds in the "HOSTED CHANNEL".
I will open a free non-custodial channel up to 1M to anyone needing help. DM me.
This is especially important, since by design you **can not close** the hosted channel to on-chain.
If you followed my tutorial about how to use @SimpleBtcWallet and closed the hosted channel already, you're good to go.
Feb 8, 2022 • 4 tweets • 1 min read
Fellow LND node operators:
Do not use unconfirmed funds to open new channels for now.
Due to a bug in LNDs coin selection process you might end up funding that channel with already spend coins, borking your balances.
Please retweet for visibility. github.com/lightningnetwo…
This is what will happen if you're affected: Your node tries to open a channel. The channel funding transaction gets rejected (due to it using already spent funds) but it won't realize that. You'll end up with a pending channel that will never confirm and missing on-chain funds.
Feb 6, 2022 • 4 tweets • 2 min read
Lightning node operators - a thought:
Rebalancing should only be a measure of last resort if there is absolutely no other way to steer liquidity. Setting fees appropriately is working way better. 🧵
A lot of smaller node operators seem to aim for the perfect 50/50 channel balance, aggressively rebalancing, but only unbalancing other perfectly balanced channels, resulting in a perpetuum mobile of liquidity being moved back and forth all the time, paying fees to the pros.
