⚡️ Bitcoin Lightning Network Routing Fees Explained w/ Carsten Otto

[@Bitcoinftm]

Hey all! Thanks for watching. I'd love to know what your biggest takeaways from this episode were... and also, what are YOUR pricing strategies?

[@souravkumarpanda6400]

How to set routing fees and how to make our mynodebtc listen on please tell or share the link where you have told

[@griffinschwab]

Love the video thank you for making content to help new node operators!

[@Bitcoinftm]

My pleasure!

[@lazyrudi2316]

Yesterday I ordered a Node and I looking forward being part of the revolution but I‘m surprised about the strategy required to run the Node. For all newcomer it would be very helpful to get more content how to start and customize the own Node. I‘m not really interested in making money. I want to help getting the Lightning Network run, efficient, decentralized and secured and bring more anonymity to the user/transactions.

[@Bitcoinftm]

Grats!

[@goolash1000]

I hear ya. I just built a node yesterday, and am getting ready to set it up this weekend.

[@petervr406]

enjoy the content on your channel, thanks. please do take care with the audio, it's out of sync with the video, makes it a bit more challenging to watch

[@Bitcoinftm]

Yikes, thanks for the feedback. I recorded on Zoom Cloud like a dummy, so that's probably why.

[@weissmannrob]

Thanks, great insides. There will never be THE right way, because there are too many different strategies working at the same time, so it’s a highly dynamic process. Not so nice for the individual wanna make money on fees, but good for the Lightning Network itself.

[@chopsuey69]

The topic I was waiting for!

[@Bitcoinftm]

You and LOTS of people truthfully :)

[@chopsuey69]

@@Bitcoinftm Hi Jonathan, first big thanks for bringing this content! For the last couple of weeks I am searching for info about this topic and I couldn't find a lot about it. Question ; do you have like an private/open group on telegram/discord where we could discuss this topic further between the people who are interested in it? As you said, even Bolsworth is still figuring it out, so for sure us ;-)

[@AdlerSantos]

I have another way of thinking about the price, if you increase the charge when your liquidity is being low, the lack of Satoshis push the prices up, as we see on an open market. If you want those satoshis, you have to pay more. And, sometimes you have not to rebalance a channel that, let me say, have about to 30% on my side, I have a greater chance of route satoshis from another channel that have lower fees, and trace a route passing through this channel that have 30%, increasing his liquidity of my side, saving from a rebalance.

[@tn9753]

Discovered this vid late. Thanks to both of you.

[@Bitcoinftm]

Welcome!

[@trijenhout]

wowww every 20 sec a 'working' balance... there i am whit 15 channels ;-). Thanks for the work!!!

[@Bitcoinftm]

You're welcome! But check out my latest video on LNDG, that's even more advanced and automatic :)

[@DerekDominoes]

What's a good way to decide how much BTC to keep in your Lightning Node wallet?

[@Wurmminister]

Depends how risky you are. How much money would you be confident to put in your wallet when you go out? That would be the amount you should put in

[@CryptoGodson]

Thanks for this! So helpful for a noob like me just now starting to take my Bitcoin/lightning node seriously

[@Bitcoinftm]

Awesome, so glad I can help. We have a TON of tutorials like this past present and future, so make sure you're subbed!

[@dPointe]

Wow, this was a masterclass on fees!

[@anakaoka]

How do you know if your wallet / server has a path to the person you want to pay?

[@Bitcoinftm]

jle.vi/amboss Explains nicely :)

[@taostellar3450]

Mr. Levi, Thanks for doing this video. Super. Dr. Otto says a lot and doesn't say a lot more. Fascinating, his expansion on Rene Pickhardt and Stefan Waster's paper, implying that the lightning network algorithm is with child! Twins? A hard problem, indeed; leave it to an algo.

[@Bitcoinftm]

LOL!

[@thepr0m3th3an]

What are the risks of running a lightning node?

[@CarstenOtto]

Loss of funds, basically

[@thepr0m3th3an]

@@CarstenOtto How do you best mitigate these risks?

[@Bitcoinftm]

Don't put TOO much on your node that you can't afford to lose, use secure strong passwords, don't advertise where you keep your node, etc.

[@hthring]

Btc price going down...

[@shmu356]

@Jonathan you need to make a video on how to set charges... im looking on the net for 5 days, and still have no idea how to set fees on MyNode or in RTL, and so on.

[@Bitcoinftm]

You mean, you literally don't know how to change your channel pricing? You can go into Thunderhub, click on the channel, then "Update Details" and it'll allow you to change pricing there :)

[@shmu356]

@@Bitcoinftm thanks, i haven't open channels yet, just trying to learn before implementing. i change the price after i open the channel, not before ?

[@tronziebit]

Dude, like the content, but please, normalize the audio. Constantly adjusting volume... 🤔

[@ErickArndt]

This topic has such great potential but it takes wayyyy too long to get to the topic. Jump to 25 min mark and skip all their small talk. Then they beat around the bush and it feels very low energy. How about this: “Hey guys, start with x as a channel min fee and then review it nightly. Lower it y if you see no action and raise it z if you do. You should have a min of X channels open, channel size, etc”. This should be a 6 min video. I was hoping for more. I’ll keep looking.

[@Bitcoinftm]

Sorry you felt that way :)

[@brunopita450]

thanks a lot

[@Bitcoinftm]

Happy to help

[@taostellar3450]

Mr. Levi, what is the effect going to be on the current lightning network when Taproot goes live? Boom!?

[@Bitcoinftm]

There are a lot of different effects, but the big one is, you won't be able to see on the blockchain that a transaction was a channel opening/closing - which makes it even more private. Right now, you can see which transactions are multisig - that changes in Taproot.

[@taostellar3450]

@@Bitcoinftm Will we have to close out our current open channels and then re-establish when TAPROOT is activated?

[@yagoa]

The Pixel has always been half as fast as well ;)

[@jasonrowles1709]

Outstanding

[@Bitcoinftm]

Flattered!

[@gintokisakata6567]

what about #zerobasefee?

[@CarstenOtto]

it's in the video?

[@Bitcoinftm]

Word!

[@Wurmminister]

Man, intro killed my ears🙈

[@goolash1000]

23:16 In other words, better to be the Uber driver with an unused car than the Uber driver with no gas.

[@soikot007]

Let the guy talk and finish his sentence. Way too interruption. Not a pleasant one.

[@HazrulNizamSidek]

Agreed. The host loves his own voice too much.

[@runningrock124]

man, this guy interrupts his guest so often. annoying.

[@juliend9495]

So the guy who makes a living from that will gives people insights for ruining his bizness lol