40 sats \ 2 replies \ @DarthCoin 24 Feb 2023 \ on: Phoenix Wallet - any way to prevent creating new channels? bitcoin
  1. Always start reading FAQ: https://phoenix.acinq.co/faq
  2. Why stop using bluewallet, just because their lndhub server it shuts down? Don't you run your own node? Or you can use any other lndhub provider. lndhub.io was just one in the ocean of them.
  3. Why not using both BW and Phoenix?
  4. Usually Phoenix is taking a reserve for first time you open a channel, so they will cover the fees for opening and closing the channels that they manage for you. If you already opened a channel, the next payment, if is higher than the "space" remained in the already opened channel, then it will open a new one, but will not charge you again that reserve.
Yes, indeed they have a weird policy / setup that is opening small channels, only slightly higher capacity from the initial deposit.
Let's say you receive 50k sats, they will open a 60k sats channel, with those 50k-1% (reserve) on your side.
Now, if you want to receive another 5-8k sats, maybe they will fit them into that channel and will not open another one. But if you will receive a 10-13k definitely they will open a new channel. If you almost empty that initial channel of 60k, let' say you send out 45k from those 50k. Then next payment you could receive it into that almost emptied channel.
If you are get used to do these kind of channel control, you can always use the same channels. Keep in mind to not empty them totally, just leave some sats in them, in this way you can always receive in the same channel.
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100 sats \ 1 reply \ @MathiuJ 25 Feb 2023
Keep in mind to not empty them totally, just leave some sats in them
Even if the channel is completely empty, it will still stay open (see screenshot below from my Phoenix wallet's channel list). I have been using Phoenix since September of last year and been very happy with it; it's a solid non-custodial wallet, in my humble opinion.
https://i.imgur.com/LfxL5L0.png
P.S. @DarthCoin I know you catch a lot of crap on here for your strong "opinions" on various LN related-issues, but I wanted to say thanks for taking the time and patience to educate folks not as far along as you on the LN path to victory. Cheers, friend.
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0 sats \ 0 replies \ @DarthCoin 25 Feb 2023
Indeed, sometimes channels remain open even if are empty, but not for long. That's good.
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