Hi and thank you for writing these amazing guides. They've given me a great starting point to dive in and further deepen my knowledge of lightning network. I had a question regarding the following statement:
"Always use a single UTXO and with all the funds from it when you open a new LN channel (no matter if is private or public). Each time you want to open a new LN channel, first send to your node onchain wallet the specific amount you want to have that channel, to a single new BTC address from your node wallet (UTXO)."
I haven't been able to figure out how to do manual output selection when opening a channel in LND and decided to try and use the approach you describe by only making sure there is only one UTXO in the on-chain wallet and opening a channel with the full amount of that output. Sadly, LND doesn't allow that either due to the "anchor channel" feature. They want you to keep a reserve of sats in the onchain wallet in the event the fee for uncooperative channel closing needs to be bumped through CPFP. I was wondering what your thoughts are and if you've found a way to get around this. Thanks!
Hi and thank you for writing these amazing guides. They've given me a great starting point to dive in and further deepen my knowledge of lightning network. I had a question regarding the following statement:
"Always use a single UTXO and with all the funds from it when you open a new LN channel (no matter if is private or public). Each time you want to open a new LN channel, first send to your node onchain wallet the specific amount you want to have that channel, to a single new BTC address from your node wallet (UTXO)."
I haven't been able to figure out how to do manual output selection when opening a channel in LND and decided to try and use the approach you describe by only making sure there is only one UTXO in the on-chain wallet and opening a channel with the full amount of that output. Sadly, LND doesn't allow that either due to the "anchor channel" feature. They want you to keep a reserve of sats in the onchain wallet in the event the fee for uncooperative channel closing needs to be bumped through CPFP. I was wondering what your thoughts are and if you've found a way to get around this. Thanks!
Thank you for the comment.
Yes, in LND there's no coin control.
Yes, in LND now we have that "anchor" nightmare and wasn't really necessary and created more trouble than fixing things (https://github.com/lightningnetwork/lnd/issues/5866).
Instead of anchor, LND devs should focus more on how to implement faster the eltoo and anyprevout, that will really fix this "reserve" issue.
Anchor is actually forcing the user to keep an UTXO always "open in the wild" linked to his node. This is a real concern from privacy perspective.
In this guide I explained how I was doing to open 1 channel with 1 UTXO https://darthcoin.substack.com/p/how-to-consolidate-utxos-to-open and I still trying to do it, but with anchor is almost impossible. I am really considering to move to c-lightning node.