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I have a question about the Zeus lightning channel ⚡🤔

177 sats \ 14 comments \ @flat24 12 Nov bitcoin_beginners

Is the channel we open in Zeus temporary?

Does it have an expiration date?

I recently noticed this in the image.

A channel expiration notice and an option to extend the concession.

Does it work for a limited time?

What should I do?

Could you help me resolve this question?

@k00b @DarthCoin @0xbitcoiner

Thank you very much in advance 🤝🤠

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79 sats \ 9 replies \ @0xbitcoiner 12 Nov

👀 https://blog.zeusln.com/new-release-zeus-v0-10-0/

50 sats \ 5 replies \ @flat24 OP 12 Nov

Thank you very much. I was just thinking of going to Zeus's page to read and see what I could find on the subject. But I wanted to ask here, since there are people here who are more experienced with the subject.

0 sats \ 4 replies \ @DarthCoin 12 Nov

You can ask anytime. Better ask if you do not understand something from the docs. I hope you understand WHY those LSP channels "expire" and why do you have to pay a lease.

21 sats \ 3 replies \ @flat24 OP 12 Nov

Channels open with on-chain funds
LSP: Just-in-time channels
LSP: Purchase in advance channels

I guess my channel is the second option. I didn't open the channel by sending funds in a chain; I sent a transfer through the Lightning Network. And when I opened it, it didn't show me any options to set the lease time. I thought it worked the same as Phoenix. “You send your funds, open the channel, and use it.”

0 sats \ 2 replies \ @DarthCoin 12 Nov

Yes, it can work like Phoenix, but that IMHO is a mistake to do it. Why? Because if you send just a small amount of sats, it will open a small channel. And because LND doesn't have yet splicing, you cannot expand that channel.

Is much better to buy LN channels in advance and choose yourself the size of the channel and the lease time. Cost is the same, but you will have much more inbound liquidity.

Now you learned the lesson. If this channel is quite small, I suggest to leave it to expire and will be closed. Then once you get the funds back in your onchain, just buy a new bigger channel, paying from another LN channel or another LN wallet. You can pay also with cashu if you activate that wallet.

20 sats \ 1 reply \ @flat24 OP 21h

If I understand correctly... Then it would be like this: if I want to maintain the size of my channel, I simply proceed to this part and select the maximum, which, unless I am mistaken, will rent me the channel for approximately 51k blocks. Correct?

And if I decide to withdraw all my liquidity and let the channel expire... (I assume that the funds that cannot be withdrawn are to pay the channel closing fees) and then I can simply open another one with a larger amount? And in the same way, aiming for the maximum possible of approximately 51,000 blocks.

11 sats \ 0 replies \ @DarthCoin 21h

I see you already have a channel of 897k sats CAPACITY. That is a good channel for a private node. I thought it was smaller. But is OK. The 51k blocks is the TIME you want to keep that channel open. I would choose max 12 months.

If you really need more inbound liquidity, just buy another channel and keep also this one. I suggest to have it with another good LSP, just for more reliability. But if this capacity of almost 900k sats is enough for you to receive and spend or swap out, you don't need anything else.

In LN you have to think a bit in advance, about your future use of that liquidity. If you expect that is enough, just use what you have. If you expect a larger volume in the future, is good to have ready in advance these inbound channels, buy them when the fees are low.

30 sats \ 2 replies \ @DarthCoin 12 Nov

Better link here: https://docs.zeusln.app/lsp/channel-differences

0 sats \ 0 replies \ @0xbitcoiner 12 Nov

My link is gonna take you to that one! ahahah

0 sats \ 0 replies \ @flat24 OP 12 Nov

Thank you very much. 🤝🤠

51 sats \ 3 replies \ @BlokchainB 12 Nov

Yes it does. Before it expires you can renew it. I did this it’s pretty easy

50 sats \ 1 reply \ @flat24 OP 12 Nov

Okay, thank you very much. I'm going to check out the links that other users left me to learn more about the subject. And when did you pay? Is it a standard payment or does it depend on the size of the channel?

21 sats \ 0 replies \ @BlokchainB 12 Nov

I believe it goes by block time.

0 sats \ 0 replies \ @DarthCoin 12 Nov

👆