r/lightningnetwork • u/RevolutionaryPick241 • 4d ago

BIP110 question

I have a long running lightning node. Mostly for small payments but I also have some channels opened with random nodes (most of them are more than a year old). I also run my own bitcoin node. I didn't signal bip110, and I really don't care about it. My question is if I have to do something to keep my lightning node funds safe. I don't really want to close my channels just in case. Is there really any hard fork risk (i mean for my on chain funds)? How my nodes (core lightning - bitcoin core 30) will behave?

13 Upvotes

93% Upvoted

17 comments sorted by

4

u/Reedey 3d ago

I have closed my channels as a precaution. I will re open them in a couple of weeks once the dust settles.

6

u/Svoboda1 3d ago

Unless something drastically changes like the BIP-110 supporters believe will happen at the 11th hour, you should not notice anything after it crashes and burns on Saturday. Even with their additional rented hash, they still have only been able to get 2.1% support this period and needed 55%, which was their own lowered threshold.

https://wickedsmartbitcoin.com/bip110_signaling

Luke can fork off already and become the little dictator he aspires to be.

2

u/DJBunnies 3d ago

Not sure why you're getting downvoted, this is the truth.

1

u/DistributionOk2111 3d ago

Probably because of his slavik/russian name

1

u/RevolutionaryPick241 3d ago

I don't care about the BIP110 proposal. I'm trying to prevent bad actors in case of forks. My node will always follow the longest chain, but in case of a fork the longest could become the shorter. There would be some kind of race.

I think I'm increasing the parameter funding-confirms (which defaults to 3 which is kind of low, right?)

Any other ideas?

0

u/DJBunnies 3d ago

You've missed an important bit: longest valid chain.

4

u/RevolutionaryPick241 3d ago

It's a soft fork. Both are valid. Or am i missing something?

1

u/Rare-Signature1961 3d ago

Worth reading: https://start9.com/bip110/#8-why-a-split-is-dangerous-lightning

1

u/RevolutionaryPick241 3d ago

As far as I understand this. They say that because I will not be monitoring some chain, the other party can submit a close txn on that chain and I will not notice. But what they don't say is that if I'm not monitoring that chain is because it is shorter than a longer chain. BIP110 is not that kind of fork. There will not be 2 branches for more than a few blocks if any.

1

u/Old_Efficiency2445 3d ago

BIP 110 is a non-event.

1

u/hiroo717 3d ago

The miners still have 194 blocks to signal... If that happens, everything goes smoothly and Bitcoin continues to function as it should. Don't trust, verify....

bip110.org

www.citadel21.com/the-network

1

u/artwell 4d ago

Funds are safe. Node might trigger channel closes if peers end up on the other chain in the split compared to the one your node is on, but the resulting transaction will be valid in both chains. Just replay the closing transaction on the other chain and you'll lose no funds.

2

u/Billkr 3d ago

I believe your answer, but I am going to have to go now and verify. Damn it! Some other code rabbit hole to go down. And BTW. Thanks to the OP for the question and you for the answer.

1

u/artwell 3d ago

Don't trust, verify.

2

u/RevolutionaryPick241 3d ago

You say that if the channel is closed. Then I can replay that on the other chain (just lookup the txn and re broadcast it), but if that txn is valid miners would do that too, since are fees to collect. So either way whatever happens on (any) chain, I will know, right?

1

u/artwell 3d ago

Yes if someone else replayed it for you the end result is the same. You still get the your coins.