LightningPub / Shockwallet video demo setup 🎥 \ stacker news ~bitcoin

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LightningPub / Shockwallet video demo setup 🎥

1805 sats \ 51 comments \ @DarthCoin 14 Sep 2024 bitcoin_beginners

zaps forwarded to @justin_shocknet (100%)

Here is a short video demo about how to quick and easy start a LN node with LightningPub and Shockwallet, then invite family and friends to use it (full "uncle Jim" scenario). Is a bit more technical, but don't be scared if you are new to this stuff. Worth paying attention and test it.

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179 sats \ 29 replies \ @thebullishbitcoiner 14 Sep 2024

Bullish.

What happens when trying to receive before you have a channel? I’m assuming that 2222 sat invoice is not enough to cover the fees.

Does it do something similar to the auto liquidity feature in phoenixd?

38 sats \ 28 replies \ @DarthCoin OP 14 Sep 2024

It says clearly at min 3 - "we boostrap directly from LSP channels...". But you can also manage manually the channels as you like. And no, this is not like phoenixd autoliquidity. Why people still do not make the difference between LN implementations Eclair and LND, LDK, CLN ?

38 sats \ 27 replies \ @thebullishbitcoiner 14 Sep 2024

Because people are still learning my guy. What does “bootstrap directly from LSP channels” mean? 😆

17 sats \ 26 replies \ @DarthCoin OP 14 Sep 2024

It means opening on the fly channels from those LSP (liquidity service providers), same is doing Alby Hub, Zeus, Blixt, Bitkit. The only downsize of these on-the-fly channels is that people are opening the first channels with small amounts, it means will be really small channels, with not suficient liquidity to be reused. Some kind of what was doing Phoenix v.1 and is costly for the user.

As per 1st channel opening is better to use a larger amount. Read more here #679242

42 sats \ 25 replies \ @justin_shocknet fwd 14 Sep 2024

Actually its probably more like Phoenix than not, since in any scenario payments that are too small to be resolved on chain are inherently trusted. In both our case and Phoenix's case, they queue until a channel open is afforded.

The difference is we outsource the LSP role and you can use literally any other Pub instead of us by piping in their Pub nprofile. This is the gateway to decentralizing the LSP's and reducing costs 80% through channel batching.

0 sats \ 21 replies \ @thebullishbitcoiner 15 Sep 2024

Actually its probably more like Phoenix than not, since in any scenario payments that are too small to be resolved on chain are inherently trusted. In both our case and Phoenix's case, they queue until a channel open is afforded.

When you say queue, were you referring to the sats essentially being locked (i.e. unable to be sent out after receiving) until a channel is opened?

I haven’t used phoenixd yet but I assume that’s how it works with them too? This also seems similar to what Alby Hub is doing when custodial accounts are converted. I think they refer to the sats as “hosted balance”.

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0 sats \ 2 replies \ @thebullishbitcoiner 14 Sep 2024

Actually its probably more like Phoenix than not, since in any scenario payments that are too small to be resolved on chain are inherently trusted. In both our case and Phoenix's case, they queue until a channel open is afforded.

Thanks Justin. This is what I wanted to know. So during this trusted phase, I technically don’t have a channel.

Now my questions are:

Are there higher fees during this phase or do I just accumulate sats until a channel is afforded? In other words, is it a lump sum or do I pay for the channel over time?
Do I get to decide the threshold when that channel should be opened?

The difference is we outsource the LSP role and you can use literally any other Pub instead of us by piping in their Pub nprofile. This is the gateway to decentralizing the LSP's and reducing costs 80% through channel batching.

Let me see if I understand this. Channel batching occurs when multiple users (e.g. the ones that are connected to Uncle Jim’s node) are using my nprofile so we can all essentially share the channel-related costs. Is that right?

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27 sats \ 0 replies \ @siggy47 14 Sep 2024

This is fantastic. I am definitely going to try it.

79 sats \ 0 replies \ @TheMorningStar 14 Sep 2024

Thank you sir for the video guide. I'm a learner and big fan of your guides here. Saving this video foe reference.

38 sats \ 6 replies \ @Coinsreporter 14 Sep 2024

Thanks 🙏 This is really cool. Not very technical as you said. I've just bookmarked it for now. I think we can't implement on mobile, right?

27 sats \ 5 replies \ @DarthCoin OP 14 Sep 2024

the node runs on a desktop, but shockwallet is designed to be used on mobile, even as PWA (no need to install app).

28 sats \ 4 replies \ @Coinsreporter 14 Sep 2024

Thanks 🙏 That's what I meant. I don't have desktop but gonna buy one as early as I can. Does running your own node earn you sats as well?

37 sats \ 3 replies \ @DarthCoin OP 14 Sep 2024

Does running your own node earn you sats as well?

Did you read ALL my guides? Especially these:

More here: https://darth-coin.github.io/nodes/nodes.html

31 sats \ 2 replies \ @Coinsreporter 14 Sep 2024

Thanks again! The two above I've read earlier. The third one is also quite intriguing. I've clicked and gone through them a little bit right now as well. I think, it'll be better I read them all deeply when I have the setup. I also feel like Might not be the right person to run my own node, I'm not very technical. Let's see, I'll only put my hands on it when I can understand them fully.

37 sats \ 1 reply \ @DarthCoin OP 14 Sep 2024

I also feel like Might not be the right person to run my own node

Look I will explain you something.

You do not have to be very technical to run a LN node. Yes, in the early years it was quite crazy running a LN node, software wasn't so stable, quite complicated command line setup and debug, not so many solutions.

I've tested almost ALL LN solutions, nodes, wallets, apps etc from the beginning. Nowadays we have quite some good easy apps that makes your life easier. Yes are still complicated and sophisticated LN nodes, but you don't have to go down the rabbit hole with those.

That's why I start posting on SN guides, solutions, demos etc and stay here all days explaining to newbies how they should do it. Yes many consider me crazy but in the end they will remember my words. When Darth is talking about something, it means it is important.

Bitcoin knowledge is power.

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117 sats \ 3 replies \ @Car 14 Sep 2024

🎧 boom #420786

168 sats \ 2 replies \ @DarthCoin OP 14 Sep 2024

I enjoyed that talk with Justin. Very few podcasters dare to invite him to talk. In fact I think you were the only one.

17 sats \ 1 reply \ @BlokchainB 14 Sep 2024

Yeah I wonder that is. I met Justin at bitcoin 2024 super humble guy.

150 sats \ 0 replies \ @Car 14 Sep 2024

Its because he is deeply passionate about what he is building. He also questions the "narrative." Most podcasters stay in their small bubble for validation or chasing numbers. I invite people on that I want to learn and get answers from, I love being the dumbest person in the room. 😝

17 sats \ 0 replies \ @BlokchainB 14 Sep 2024

Damn this is way easier than LN bits

17 sats \ 0 replies \ @mf 14 Sep 2024

17 sats \ 0 replies \ @Satoshi__Nakamoto 14 Sep 2024

Well done Post on stacker on when app will lunch

17 sats \ 0 replies \ @Rsync25 14 Sep 2024

Awesome!

17 sats \ 3 replies \ @thebullishbitcoiner 15 Sep 2024

Hey @justin_shocknet I’m getting a “can't retrieve wallet status” issue while running the install script.

After running systemctl, I saw LND wasn’t running so I started it and ran the script again. Same issue.

Know of anything else I can try?

17 sats \ 2 replies \ @thebullishbitcoiner 15 Sep 2024

So the reason LND didn’t start the first time was because Alby Hub was running. I just deleted everything, started over, and now I’ve got my nprofile. 🫡

21 sats \ 1 reply \ @justin_shocknet fwd 15 Sep 2024

Awesome, it had probably started but just couldn't find the unlock event in the service log...

We take security with this seriously so its good not to run it alongside another system, we have a watchdog service that will prevent sends if it detects a discrepancy.. so using Alby Hub and Pub at the same time would shut down the Pub effectively once it realized sats moved out without knowing why.

17 sats \ 0 replies \ @thebullishbitcoiner 15 Sep 2024

Good to know. In my case, I think it was just cause Alby Hub was also using port 8080 since I was testing it with a Cashu backend. But yeah, def don’t have two systems using LND at the same time.