I tried out Bisq and it was quite successful. I made some buys, made some sells and it seems like things work for the most part. It has some bugs but nothing that does not eventually get resolved.
I had trouble figuring out Robosats. I’m letting you know my mistakes so that you don’t make them. It was probably because:
- I don’t know how to use the lightning network so well.
- I tried using electrum with their trampolines.
Here’s how it went:
- I got Tor and figured out how to run it.
- I went to the Robosats website and found the Tor link.
- I went to the Robosats site and I actually properly saved my bot.
- I set up a small electrum trampoline channel for something small like 0.002 BTC.
- I found a deal that I thought was reasonable and clicked on it.
- I sent them my security deposit through a lightning invoice. Now I have three hours.
- I then tried to set up a few different half sized BTC channels that would not make the whole payment. I didn’t know that this was a problem.
- I then learned through experience that the only way to pay the full invoice was to use a full sized channel that would cover the whole payment.
- I made a new larger channel that would easily cover the whole payment.
- I clicked pay for this lightning invoice three times and it failed three times. Each of those times the trampoline tried to send eight times.
- I lost my security deposit.
- I’m in the process of closing my lightning channels.
- Electrum is not that good for lightning.
- Trampolines are not that good for transactions above 0.01 BTC.
- I needed a way to practice these things and could not find one.
Any thoughts on what else we can learn?
- Maybe we can also learn that the documentation for Robosats isn’t so great.