Quote from: D3l on May 11, 2023, 05:12:41 PM

Also what's the point of saying that minimal channel capacity is 2mBTC if it's often impossible to use the channel with such small capacity?

Fees weren't that high for many years. You tried to open a channel at a very bad moment.
If you would have opened a channel earlier, you'd be able to use it when fees were high.

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I know that I'm speaking in layman's terms, but it's so misleading and user unfriendly, it's killing the purpose of lightning when you are better of (and more secure) paying on chain even with higher fees.

I hate to say it, but when fees are high, you're even better off just using your creditcard.

Quote from: NotATether on Today at 06:46:41 AM

Quote from: ghost43 on May 11, 2023, 04:34:00 PM

- when you open a channel, you cannot receive before sending some first

Is this a feature of the Lightning Network or just the Electrum client?

It varies per wallet. Custodial wallets don't have this problem, and Phoenix Wallet creates a channel larger than your deposit, so you have (sending and receiving) capacity in both directions.

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I don't think it's good for the LN in general if users are unable to start instantly receiving bitcoins.

I know this isn't the case for Layer 1 but think about it, imagine if you generated a wallet, but Bitcoin's design was totally different from how it is right now and you could not receive any bitcoins in a transaction before you made an outgoing transaction first.

It's a strange design choice, if you ask me.

I don't think it's really a choice, it's inevitable given the way LN works. If you want to receive funds without sending some first, someone can open a channel to your node and send a payment.

Let's face it: Bitcoin can't scale on-chain, but LN can't be used to create many channels on-chain either. So for mass adoption, LN has to be largely custodial.