Dammit mempool, you WIN!!!!
After 6 months of waiting for the mempool to empty, so i can open new LN Channels at 1sat/vbyte and have the last 3 pending channels confirmed (opened 6months ago).
I have given up! Will start opening at 3 or 4SATs/vbyte to make sure i have some sort of priority!
Have a few idled BTC to throw at this LN Node!.. Goal is 1,000,000,000SAT LN Node (10BTC) currently at 656,625,638 sat
EDIT: Transaction Confirmed!... 4 Confirmations already!..
EDIT: Also will be trying RBF for the first time, to push those unconfirmed TX... Let's see how that goes...
Please keep us informed. I want to know what 2 - 5 frozen btc will earn you monthly.
Even if it is 1 or 10 btc frozen in the node.I am trying to figure the practically to LN from the viewpoint of the staker of the node.
We got some info on a 17btc node a week or so ago. frankly the earnings on 17 btc tied up were very low.
If you are planning in running a LN Node to make a profit or close to
break even, then you are going to need more than 10BTC. You will need to be one of the top tier LN nodes (200+ BTC)
This will be my third year with this LN Node and i can assure you i am way behind in terms of cost, but i am way in front, in terms of knowledge/understanding and access to new technology within the Bitcoin ecosystem.
I also have the opportunity to try new features and see how they work in a real world scenario and to me that is my profit.
I knew early in the game this wasn't going to be a way to earn any substantial amounts of Bitcoin and was happy to let it run and commit anywhere from 1-10BTC as needed.
It's now way too tedious to try and work out all the cost involved in opening and closing channels, especially when you have to force close it get very expensive and currently 323 closed channels. To review each one of those and work out the fees paid is job for another day. Maybe when I got a spare weekend.
But based on overall
Routing Fee divided by Total Bitcoins in play, i am at about
0.00605% per year, which doesn't cover the cost of electricity to power the box!
I found a report from River Financial, they have about 360BTC across 2 nodes and earned roughly 0.3 BTC per month or 0.08% per month / 0.99% a year in routing fees.
https://river.com/learn/files/river-lightning-report-2023.pdfNow, I've got a bone to pick with you....The one thing i know we don't see eye to eye on, is, the fact you think Lightning Network is Staking.
This nothing close to the bullshit staking/bridges and wrapped shit everyone is so familiar with.
At all times i am still in control of my portion of Bitcoins within the LN Channel.
At anytime i can close/settle my channel, on-chain, using proof of work and have every single sat returned to my on-chain wallet without asking for permission.
No third party can ever rug pull or keep my bitcoin locked up! i can send and received as often as i want.
I don't see this as staking but a true Bitcoin Layer 2 Scaling Solution and i am not here to convince you otherwise, i just wanted to make a point that is a more than Staking ETH on a Polkadot or Burger Chain!
...... and i am also partly blaming you for the mempool backlog!
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