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Author Topic: P2P trader gets into LN need help.  (Read 61 times)
PepeLapiu (OP)
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March 10, 2023, 08:01:36 PM
Merited by o_e_l_e_o (4)
 #1

Hey guys. I have designed a script to automate my trades on a p2p platform. So that buyers can buy from me at a low price without any input from me. So far it's been really successful. It's growing faster than I had imagined. Here is my profile and offers on HodlHodl:
https://hodlhodl.com/users/PepeLapiu

With rising miner fees likely due to these new NFTs on the BTC blockchain, it's becoming obvious to me I should spread my wings to RobotSats so I can do p2p trading on LN. I think LN will grow a lot with fees going up.

But I have some problems and limitations, and some questions. Here they are:

1) My understanding is that LN is better suited for smaller tx, not so much for larger ones. Would it be a problem to send and receive 0.1 BTC on LN? What can I do to push back against those restrictions?

2) I believe if you are not running your own node, your LN sats are all custodial. And my living situation doesn't allow me to run my own node. Is there a safe way to use someone else's node for a lot of coin coming in and out? Like 0.3 BTC per day, and 2 BTC per week?
ABCbits
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March 11, 2023, 12:49:17 PM
Merited by o_e_l_e_o (4)
 #2

1) My understanding is that LN is better suited for smaller tx, not so much for larger ones. Would it be a problem to send and receive 0.1 BTC on LN? What can I do to push back against those restrictions?

Many LN wallet have default 0.16BTC capacity, so you should able to send/receive 0.1BTC. However you could face routing problem since there aren't many LN channel with such big capacity, which force both party (you and buyer/seller) to make new channel instead.

2) I believe if you are not running your own node, your LN sats are all custodial. And my living situation doesn't allow me to run my own node. Is there a safe way to use someone else's node for a lot of coin coming in and out? Like 0.3 BTC per day, and 2 BTC per week?

There are light non-custodial LN wallet out there such as Electrum. But you either have to,
1. Run your own watchtower, usually on VPS.
2. Use someone else watchtower, either free or paid.

As reminder, watchtower is needed to prevent cheating by broadcasting earlier state of LN channel on Bitcoin on-chain network.

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