Building a Lightning Node

in LeoFinance9 months ago (edited)


Background image by Gerd Altmann from Pixabay

Building a Lightning Node

Hello Ecencians and Bitcoiners
A while ago I built a lightning node including a Bitcoin node which is mandatory for the lightning node. You don't need much technical know-how to build this. When you worked with computers and know how to set up an operating system, you will be able to set up a lightning node too. You can also buy a complete ready-to-go node, but where is the fun? It's also possible to run it on a Linux-based system but I went for the Raspberry solution.

Things you need:

I bought a one-time used Raspberry Pi on eBay including the power supply and case. The storage drive, drive enclosure, and the 16GB microSD I got from Amazon. I had a cable at home.
I just describe the way I did it and what I used. You will find other ways on the internet.


Raspberry Pi 4

hard drive with case

Raspberry Pi opened

The installation process is easy. You get umbrelOS from the website umbrel.com. There is also a step-by-step guide. Download the umbrelOS file and the flash software to flash the umbrelOS on the microSD card. You do this on your computer with a card reader. The flashing process takes a while but not too long. After the flash is finished, you insert the microSD card into your Raspberry Pi. Connect the SSD and connect your ethernet cable with your router and your Raspberry Pi. Connect the power supply and turn your Raspberry Pi on. After ~5min the installation should be ready.
Go to your browser and enter umbrel.local

You will probably see another start screen the first time and you have to choose a username and a password.

The umbrelOS is pretty much like a phone and works with apps. Easy to use!
Check the app store and look for the Bitcoin node and install it. Get a coffee now or go for a walk. It will take several hours until the blockchain is completely synced. You can install the lightning node app too but it needs the Bitcoin node fully synced first to be able to work. Look at the size of the blockchain. It's huge!

After syncing is complete open the lightning node app. Here you have to deposit some BTC. I think it was around $300 in BTC which is needed. You need to open channels to other nodes later and there is a minimum requirement of BTC in your wallet. I think it was 0.01 BTC at least. Click deposit and scan the QR code with your favorite Bitcoin wallet.

Now you can open channels to other users and support the lightning network. Yeah, I know and I've heard it before.. It's not a network.
There are some websites with lists of channels but I found another app in the store which shows your node to others and you can start a triangle (3 nodes) or pentagon (5 nodes) capacity. I really like this idea. With the triangle, the first node opens a channel to the second node. The second node opens a channel to the 3rd node and the 3rd node opens a channel to the first node. You'll find lightningnetwork+ in your umbrel app store.

It's called liquidity swap. Check the requirements first before you open for application.

At the end a little warning. When you are in your lightning node app, you will see a difference between the BTC wallet and lightning wallet. Don't send BTC from the main blockchain to the lightning wallet or the other way around. It should not work but just in case.

Any questions? Leave a comment!

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chaosmagic23
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BitCoin with Lightning

Posted using Ecency Love

Images and screenshots are from me, umbrel.com, my node and zbd

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Super work. Saylor approves of this node.

Thank you, Steve!

Good and clear tutorial. Maybe I'll try...soon, right now I'm testing Proof Of Access for SPK network ...

What are you doing for this PoA? What does that mean?
!ALIVE

It's a decentralized storage of videos in your computer. With installing 3spk app, free space in your computer becomes a part of IPFS where videos (and in the future all other files I suppose) can be stored and you're paid for that, now in Hive...

I guess it's similar to LBRY then. Getting paid sound good. I have to check that out.

I don't know how LBRY handles this. Here's the tutorial https://ecency.com/hive-112019/@eddiespino/dzzigonc

Thank you! I will look into this later.

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Hello, Chris. Great to see you. What is the purpose of having this Rasberry Pi? (sounds like a dessert lol.) Maybe I want to ask what is the purpose of a lightening node? I guess you need a Rasberry Pi to run a lightening node :) What is it for? I know it has something to do with bitcoin but maybe I don't know what lightening node is. Thank you and have a great weekend! !BBH !CTP
Barb :)

@chaosmagic23! Your Content Is Awesome so I just sent 1 $BBH (Bitcoin Backed Hive) to your account on behalf of @adcreatordesign. (1/1)

The Raspberry Pi is a mini-computer. You could add a keyboard, mouse, and monitor if you wanted. Lightning is a second layer option for Bitcoin so you can make micro payments without paying huge transaction fees. On Lightning, the fees are super small or zero. You don't need a node to use Lightning, all you need is a Wallet, but with a node you have a few benefits. (Alby, Blue Wallet, ZBD, Wallet of Satoshi just to name a few). I started with Alby because it's a browser extension and allowed me to enter the Nostr world too. I saw that ZBD, which I also use because of the games to earn satoshis, has also a way to enter Nostr.
There are a few options to run a node but I thought the small Raspberry doesn't take much space or has a lot of power consumption.

Why should someone run a node?

It's probably the same answer to why someone would start mining BTC. You support and expand the network aka blockchain. With a Lightning node, you need also to run a Bitcoin node and you can connect your BTC and Lightning Wallets directly to your nodes. Basically, you provide a service and use it yourself. It allows you to spend your BTC over Lightning very easily. The Lightning node will earn you a few satoshis depending on the transaction fees between the opened channels.
There are so many more creative ways to earn satoshis with the node or in general. Payback in satoshis for shopping, BTC Pay Server for your shop, playing games on THNDR...

I think I should stop now. The answer got longer than I wanted. 😂

A more detailed answer on Voltage.

Thank you @chaosmagic23 for your answers about Raspberry Pi and a Node. LOL that's so funny the way you said, "I think I should stop now. The answer got longer than I wanted. 😂" Thank you so much for your long answer Chris! !BBH !CTP

Yeah, sometimes when I talk about stuff I really like, I get carried away and talk a bit too much. At least it feels like I do. Writing is worse because I see the wall of text and I think, no one is going to read this. Nearly the same when I talk and people show disinterest at some point. You can almost always see it. I still have to thank you for reading all my brain bubbles.
!LUV !ALIVE

😂😂 Chris I didn't think it was too much to write. It was very helpful and I will read it over. !CTP !BBH You're most welcome and I enjoyed reading your comments 🌟😀👍🌟

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Questions, yes.... So what does it do? Its a Liquidity swap.... triangle?

What does it earn you? Bitcoin or something else?

$300 is quite a bit and then there is the bit of equipment needed as well.

Yeah, the costs are a 'bit' as you say. But I spend a few hundred bucks on different mining devices and not all of them are actually making money.
The best answer I found about why you should run a lightning node was on this site:
https://voltage.cloud/blog/bitcoin-education/why-you-should-run-your-own-lightning-node/
Thanks for reading the post and asking your questions.
!ALIVE

Thanks man. Once we get out of survival mode I need to look at stuff like this.

I hope you get there. Let me know if you need help and I try my best.

Thanks man. Cheers!

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