⭐ Merited by ETFbitcoin (1)
A technical question:
Is it possible to receive a BTC amount on-chain from another person and simultaneously open a LN channelfor him/her for me with the same transaction, if the sender cooperates? Or even better: use a BTC amount on-chain transaction and refund an already opened channel (this would be a kind of splice-in)?
In theory (if I remember well the funding mechanism of Poon-Dryja channels) at least the first variant (opening a new channel) should not be a problem if you exchange the commitment transactions with your channel counterparty based on the transaction you got from that other person. For this to work, however, the person who has sent the transaction must cooperate and broadcast the transaction to the channel's multisig address only after this exchange took place (which could lead to "logistic" challenges but should be solvable). About the second variant (add the transaction amount to an existing channel), I don't know currently much about splice-ins, but maybe someone here does
I imagine this could be useful if exchanges offered this service. You could withdraw an amount on-chain, and instead to have to do the channel opening transaction yourself additionally, the withdraw amount is added to an existing payment channel or opens another one to a LN node.
Ah, and @Khaos77: All altcoins which reach a certain popularity will get the same transaction cost problem as Bitcoin. Even sooner or later with big blocks (if they are not gigabyte-sized
).
Edit: There was an error in the first paragraph, I corrected it.
Is it possible to receive a BTC amount on-chain from another person and simultaneously open a LN channel
In theory (if I remember well the funding mechanism of Poon-Dryja channels) at least the first variant (opening a new channel) should not be a problem if you exchange the commitment transactions with your channel counterparty based on the transaction you got from that other person. For this to work, however, the person who has sent the transaction must cooperate and broadcast the transaction to the channel's multisig address only after this exchange took place (which could lead to "logistic" challenges but should be solvable). About the second variant (add the transaction amount to an existing channel), I don't know currently much about splice-ins, but maybe someone here does
I imagine this could be useful if exchanges offered this service. You could withdraw an amount on-chain, and instead to have to do the channel opening transaction yourself additionally, the withdraw amount is added to an existing payment channel or opens another one to a LN node.
Ah, and @Khaos77: All altcoins which reach a certain popularity will get the same transaction cost problem as Bitcoin. Even sooner or later with big blocks (if they are not gigabyte-sized
). Edit: There was an error in the first paragraph, I corrected it.