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150 sats \ 1 reply \ @Fenix 2h \ on: Bitcoin Beginner Saloon #2 bitcoin_beginners
Is it worth it for me to open channels with small UTXOs, around 100k sats? I read that today it's possible to spend on the LN through more than one channel, together. Another thing, it's always said that a channel should be opened between two people, but there are two UTXOs, can't one person open a channel with themselves? I saw you talking about NWC as a very rudimentary form of "Uncle Jim Bank" and I liked the idea. How does NWC work together with LN if they are different protocols?
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0 sats \ 0 replies \ @DarthCoin OP 2h
's possible to spend on the LN through more than one channel, together.
Yes, is called MPP - multi-path payment. I very often talk about them in my guides.
Is it worth it for me to open channels with small UTXOs, around 100k sats?
Not really. Do not think about how to spend those channels, think about the cost to close them and also how many payments you can do through them without refilling. Refiling have a cost also and you are interested into reducing that cost. This is where most of new LN users do not get it and they consider LN very costly, is because they do not use it efficiently. I've talk about these aspects in this previous post on SN: #1305794. Worth reading it.
can't one person open a channel with themselves?
To the same node? No is impossible, You must open between 2 peers not 2 UTXOs. But you are free to have multiple LN nodes, nothing wrong with that. I have 4 embedded LN nodes in of my devices with Zeus. 4 different peers.
How does NWC work together with LN if they are different protocols?
Good question. LN is a payment protocol. NWC is a communication protocol. And yes, LN needed a good communication protocol like NWC, is a perfect match. Through NWC you only send instructions to LN nodes. NWC could provide secure and private communication but nothing else for a LN node. I have good expectations for NWC and LN in the future. See for example nostr markets, are really underrated. Here I wrote a guide about them https://darth-coin.github.io/merchants/nostr-market-with-lnbits-en.html
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