Post
Topic
Board Electrum
Re: Problem with open chahnel
by
DigitalMonster
on 20/08/2020, 08:06:12 UTC
Problem with open channel: Exception('LocalConfig.MUST set channel_reserv_satoshis greater than or equal to dust_limit_satoshis')

I couldn't find where to set it in the settings 'dust_limit_satoshis'
That error was due to your attempted open channel's fund is lower than 0.000547BTC.
You'll get a different error if it's lower than Electrum's minimum which is Exception('funding_sat too low: xxxx < 200000')

Unfortunately, there's no settings to override it.

Something very expensive turns out to use LN. It's easier for me to wait for the hype to subside and then send 1 Satoshi \ bytes the old-fashioned way from the blockchain.

Why is that? After all, LN is designed to increase the speed and reduce commissions on transfers
I prefer it that way, because if the channel's funds is too low, users will end up opening channels more often if they need to send more funds.
If it's 0.002, they will only need that channel to transact LN funds given that the remote node has enough connections.

Plus, you can get your Bitcoins back to onchain funds and get inbound capacity though "submarine swap" feature which is very convenient to use in the GIU.

0.002 is a lot of money, more than 1700 rubles. For example, my clients will transfer me let's say 60 rubles a month in total, this is 0.00005788 for a year this is 0.00069376 I thought for this to start saving using LN instead of Bitcoin cache as now

submarine swap, there's a Commission of 0.5%, whatever