Just a heads up: I tried to close my LN channel on Mutiny and move my sats on-chain and unfortunately they do have some issues with fee estimation, resulting in funds being locked for 3-14 days. Sadgers, but I'll wait -- you can prolly avoid similar outcome if you wire your sats over LN to some other wallet.
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31 sats \ 7 replies \ @Wumbo 21 Aug
Did Mutiny let you set the fee manually or do you have to use the estimate?
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86 sats \ 6 replies \ @Silent_Hodler OP 21 Aug
There was only the "Close channel" button. Zero additional setup was possible while performing the operation.
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131 sats \ 4 replies \ @supertestnet 21 Aug
what feerate does your transaction pay? This should also be reported to whatever LSP you used, as their node's money is also stuck (assuming it was a cooperative closure) and their node should not have accepted a very low closing fee
though I wonder...since you said your money could be stuck for 14 days, that is the standard "force closure" period. Are you sure it's stuck due to fees and not do to the timelock delay on force closures?
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0 sats \ 3 replies \ @Silent_Hodler OP 21 Aug
This is the info from the wallet…
https://m.stacker.news/47382
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333 sats \ 2 replies \ @supertestnet 21 Aug
Seems like your money is stuck due to a force closure, not because your tx pays a low fee.
Your wallet and your counterparty's wallet couldn't agree on what fee to pay to close the channel. Your wallet thought fees were pretty high so you wanted to pay a high fee to get your transaction confirmed; their wallet thought fees were pretty low and they didn't want to pay a high fee and potentially collect less money than they think is due to them.
When your wallet can't come to consensus with its counterparty, it ignores them and withdraws your money using its presigned force closure transaction. But that also means "one of you might be misbehaving," so the force closure transactions are timelocked to give your counterparty time to prove whether you've done anything malicious. You haven't, so you'll be fine, but you do have to wait while an up-to-2-week timer runs out.
This is an inherent difficulty with lightning: you can't do "whatever you want" with your lightning utxos because they are "shared" utxos. Your counterparty has half of the keys, so anything you want to do with them, they have to agree on it. In this case, you couldn't agree on what to do with that utxo "right now," so you have to use whatever you last agreed on -- and lightning always ensures the "last" thing you agreed on is a unilateral withdrawal transaction (so you'll definitely get your money out), but it's timelocked.
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13 sats \ 1 reply \ @Silent_Hodler OP 21 Aug
Thank you kindly for thorough explanation 🙇🏻♂️🙏🏻
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0 sats \ 0 replies \ @supertestnet 21 Aug
you're very welcome
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21 sats \ 0 replies \ @kepford 21 Aug
Yeah, I noticed this as well a while back. I should have posted about it.
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21 sats \ 1 reply \ @nichro 21 Aug
It was similar with Phoenix "close wallet" button.
If they send it really low fee, you can always bump it via Child-Pays-for-Parent (CPFP) from the receiving wallet.
This is just spending the unconfirmed utxo using a higher fee rate to incentivize miners to include both - they want your higher fee but need to process the small fee first
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0 sats \ 0 replies \ @Akg10s33 21 Aug
That's exactly what I was going to say... Since something similar happened to me with Phoenix when I went to close my wallet... thank goodness you're publishing it so that we can all be warned...
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0 sats \ 0 replies \ @SatsMate 22 Aug
Yea I lost like $30 usd at least when closing my channel and sending. To be honest I messed up twice which was my fault. Wasn't fun to pay all those fees, but I took away some of my hard earn sats.
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