diff --git a/lightningd/channel.c b/lightningd/channel.c
index 238a90ff8..b93ee54b9 100644
--- a/lightningd/channel.c
+++ b/lightningd/channel.c
@@ -84,9 +84,9 @@ void delete_channel(struct channel *channel, const char *why)
  * reconnection. We use the DB channel ID to guarantee unique secrets
  * per channel.
  */
-void derive_channel_seed(struct lightningd *ld, struct privkey *seed,
-			 const struct pubkey *peer_id,
-			 const u64 dbid)
+static void derive_channel_seed(struct lightningd *ld, struct privkey *seed,
+				const struct pubkey *peer_id,
+				const u64 dbid)
 {
 	u8 input[PUBKEY_DER_LEN + sizeof(dbid)];
 	char *info = "per-peer seed";
@@ -106,6 +106,7 @@ struct channel *new_channel(struct peer *peer, u64 dbid, u32 first_blocknum)
 	struct channel *channel = talz(peer->ld, struct channel);
 	char *idname;
 
+	assert(dbid != 0);
 	channel->dbid = dbid;
 	channel->peer = peer;
 	channel->first_blocknum = first_blocknum;
@@ -120,9 +121,7 @@ struct channel *new_channel(struct peer *peer, u64 dbid, u32 first_blocknum)
 	tal_free(idname);
 	list_add_tail(&peer->channels, &channel->list);
 	tal_add_destructor(channel, destroy_channel);
-	if (channel->dbid != 0)
-		derive_channel_seed(peer->ld, &channel->seed, &peer->id,
-				    channel->dbid);
+	derive_channel_seed(peer->ld, &channel->seed, &peer->id, channel->dbid);
 
 	return channel;
 }
diff --git a/lightningd/channel.h b/lightningd/channel.h
index 36778db39..6a435f543 100644
--- a/lightningd/channel.h
+++ b/lightningd/channel.h
@@ -95,10 +95,6 @@ const char *channel_state_name(const struct channel *channel);
 
 void channel_set_owner(struct channel *channel, struct subd *owner);
 
-void derive_channel_seed(struct lightningd *ld, struct privkey *seed,
-			 const struct pubkey *peer_id,
-			 const u64 dbid);
-
 /* Channel has failed, but can try again. */
 PRINTF_FMT(2,3) void channel_fail_transient(struct channel *channel,
 					    const char *fmt,...);
diff --git a/lightningd/peer_control.c b/lightningd/peer_control.c
index a4ee0accc..8ec12aeed 100644
--- a/lightningd/peer_control.c
+++ b/lightningd/peer_control.c
@@ -1436,6 +1436,8 @@ static void opening_got_hsm_funding_sig(struct funding_channel *fc,
 		fatal("HSM gave bad sign_funding_reply %s",
 		      tal_hex(fc, resp));
 
+	wallet_channel_insert(ld->wallet, channel);
+
 	/* Send it out and watch for confirms. */
 	broadcast_tx(ld->topology, channel, tx, funding_broadcast_failed);
 	watch_tx(channel, ld->topology, channel, tx, funding_lockin_cb, NULL);
@@ -2219,11 +2221,14 @@ static void opening_fundee_finished(struct subd *opening,
 	/* old_remote_per_commit not valid yet, copy valid one. */
 	channel_info->old_remote_per_commit = channel_info->remote_per_commit;
 
+	channel_commit_initial(channel);
+
+	/* Now we finally put it in the database. */
+	wallet_channel_insert(ld->wallet, channel);
+
 	/* Now, keep the initial commit as our last-tx-to-broadcast. */
 	channel_set_last_tx(channel, remote_commit, &remote_commit_sig);
 
-	channel_commit_initial(channel);
-
 	log_debug(channel->log, "Watching funding tx %s",
 		     type_to_string(reply, struct bitcoin_txid,
 				    channel->funding_txid));
@@ -2281,6 +2286,24 @@ static unsigned int opening_negotiation_failed(struct subd *openingd,
 	return 0;
 }
 
+static struct channel *new_uncommitted_channel(struct lightningd *ld,
+					       const struct pubkey *peer_id,
+					       const struct wireaddr *addr)
+{
+	struct peer *peer;
+	struct channel *channel;
+
+	/* We make a new peer if necessary. */
+	peer = peer_by_id(ld, peer_id);
+	if (!peer)
+		peer = new_peer(ld, 0, peer_id, addr);
+
+	channel = new_channel(peer, wallet_get_channel_dbid(ld->wallet),
+			      get_block_height(ld->topology));
+	assert(channel->peer == peer);
+	return channel;
+}
+
 /* Peer has spontaneously exited from gossip due to open msg */
 static void peer_accept_channel(struct lightningd *ld,
 				const struct pubkey *peer_id,
@@ -2294,18 +2317,11 @@ static void peer_accept_channel(struct lightningd *ld,
 	u32 max_to_self_delay, max_minimum_depth;
 	u64 min_effective_htlc_capacity_msat;
 	u8 *msg;
-	struct peer *peer;
 	struct channel *channel;
 
 	assert(fromwire_peektype(open_msg) == WIRE_OPEN_CHANNEL);
 
-	/* We make a new peer if necessary. */
-	peer = peer_by_id(ld, peer_id);
-	if (!peer)
-		peer = new_peer(ld, 0, peer_id, addr);
-
-	channel = new_channel(peer, 0, get_block_height(ld->topology));
-	assert(channel->peer == peer);
+	channel = new_uncommitted_channel(ld, peer_id, addr);
 
 	channel_set_state(channel, UNINITIALIZED, OPENINGD);
 	channel_set_owner(channel,
@@ -2336,10 +2352,6 @@ static void peer_accept_channel(struct lightningd *ld,
 		       &max_to_self_delay, &max_minimum_depth,
 		       &min_effective_htlc_capacity_msat);
 
-	/* Store the channel in the database in order to get a channel
-	 * ID that is unique and which we can base the peer_seed on */
-	wallet_channel_save(ld->wallet, channel);
-
 	msg = towire_opening_init(channel, get_chainparams(ld)->index,
 				  &channel->our_config,
 				  max_to_self_delay,
@@ -2374,16 +2386,8 @@ static void peer_offer_channel(struct lightningd *ld,
 	u8 *msg;
 	u32 max_to_self_delay, max_minimum_depth;
 	u64 min_effective_htlc_capacity_msat;
-	struct peer *peer;
-
-	/* We make a new peer if necessary. */
-	peer = peer_by_id(ld, &fc->peerid);
-	if (!peer)
-		peer = new_peer(ld, 0, &fc->peerid, addr);
-
-	fc->channel = new_channel(peer, 0, get_block_height(ld->topology));
-	assert(fc->channel->peer == peer);
 
+	fc->channel = new_uncommitted_channel(ld, &fc->peerid, addr);
 	fc->channel->funding_satoshi = fc->funding_satoshi;
 	fc->channel->push_msat = fc->push_msat;
 
@@ -2403,17 +2407,6 @@ static void peer_offer_channel(struct lightningd *ld,
 		return;
 	}
 
-	/* FIXME: This is wrong in several ways.
-	 *
-	 * 1. We should set the temporary channel id *now*, so that's the
-	 *    key.
-	 * 2. We don't need the peer or channel in db until peer_persists().
-	 */
-
-	/* Store the channel in the database in order to get a channel
-	 * ID that is unique and which we can base the peer_seed on */
-	wallet_channel_save(ld->wallet, fc->channel);
-
 	/* We will fund channel */
 	fc->channel->funder = LOCAL;
 	channel_config(ld, &fc->channel->our_config,
diff --git a/lightningd/peer_state.h b/lightningd/peer_state.h
index c0e73de6f..9a28b86ad 100644
--- a/lightningd/peer_state.h
+++ b/lightningd/peer_state.h
@@ -33,5 +33,6 @@ enum peer_state {
 	ONCHAIND_OUR_UNILATERAL,
 	ONCHAIND_MUTUAL
 };
+#define CHANNEL_STATE_MAX ONCHAIND_MUTUAL
 
 #endif /* LIGHTNING_LIGHTNINGD_PEER_STATE_H */
diff --git a/wallet/test/run-wallet.c b/wallet/test/run-wallet.c
index 618bd3755..bdff5bd6b 100644
--- a/wallet/test/run-wallet.c
+++ b/wallet/test/run-wallet.c
@@ -611,7 +611,7 @@ static struct wallet *create_test_wallet(struct lightningd *ld, const tal_t *ctx
 	CHECK_MSG(w->db, "Failed opening the db");
 	db_migrate(w->db, w->log);
 	CHECK_MSG(!wallet_err, "DB migration failed");
-
+	w->max_channel_dbid = 0;
 
 	return w;
 }
@@ -864,6 +864,7 @@ static bool test_channel_crud(struct lightningd *ld, const tal_t *ctx)
 	c1.first_blocknum = 1;
 	p = new_peer(ld, 0, &pk, NULL);
 	c1.peer = p;
+	c1.dbid = wallet_get_channel_dbid(w);
 	c1.our_msatoshi = NULL;
 	c1.last_tx = NULL;
 	c1.state = CHANNELD_NORMAL;
@@ -879,6 +880,8 @@ static bool test_channel_crud(struct lightningd *ld, const tal_t *ctx)
 	db_begin_transaction(w->db);
 	CHECK(!wallet_err);
 
+	wallet_channel_insert(w, &c1);
+
 	/* Variant 1: insert with null for scid, funding_tx_id, channel_info, last_tx */
 	wallet_channel_save(w, &c1);
 	CHECK_MSG(!wallet_err,
diff --git a/wallet/wallet.c b/wallet/wallet.c
index 1713825fa..8154ffeaf 100644
--- a/wallet/wallet.c
+++ b/wallet/wallet.c
@@ -525,6 +525,7 @@ static struct channel *wallet_stmt2channel(const tal_t *ctx, struct wallet *w, s
 	remote_config_id = sqlite3_column_int64(stmt, 4);
 
 	chan->state = sqlite3_column_int(stmt, 5);
+	assert(chan->state > OPENINGD && chan->state <= CHANNEL_STATE_MAX);
 	chan->funder = sqlite3_column_int(stmt, 6);
 	chan->channel_flags = sqlite3_column_int(stmt, 7);
 	chan->minimum_depth = sqlite3_column_int(stmt, 8);
@@ -647,11 +648,12 @@ bool wallet_channels_load_active(const tal_t *ctx, struct wallet *w)
 	sqlite3_bind_int64(stmt, 1, OPENINGD);
 	db_exec_prepared(w->db, stmt);
 
-	/* Channels are active if they have reached at least the
-	 * opening state and they are not marked as complete */
+	/* We load all channels */
 	stmt = db_query(
-	    __func__, w->db, "SELECT %s FROM channels WHERE state > %d AND state != %d;",
-	    channel_fields, OPENINGD, CLOSINGD_COMPLETE);
+	    __func__, w->db, "SELECT %s FROM channels;",
+	    channel_fields);
+
+	w->max_channel_dbid = 0;
 
 	int count = 0;
 	while (ok && stmt && sqlite3_step(stmt) == SQLITE_ROW) {
@@ -660,6 +662,8 @@ bool wallet_channels_load_active(const tal_t *ctx, struct wallet *w)
 			ok = false;
 			break;
 		}
+		if (c->dbid > w->max_channel_dbid)
+			w->max_channel_dbid = c->dbid;
 		count++;
 	}
 	log_debug(w->log, "Loaded %d channels from DB", count);
@@ -781,38 +785,17 @@ bool wallet_channel_config_load(struct wallet *w, const u64 id,
 	return ok;
 }
 
+u64 wallet_get_channel_dbid(struct wallet *wallet)
+{
+	return ++wallet->max_channel_dbid;
+}
+
 void wallet_channel_save(struct wallet *w, struct channel *chan)
 {
 	tal_t *tmpctx = tal_tmpctx(w);
 	sqlite3_stmt *stmt;
 	assert(chan->first_blocknum);
 
-	if (chan->peer->dbid == 0) {
-		/* Need to store the peer first */
-		stmt = db_prepare(w->db, "INSERT INTO peers (node_id, address) VALUES (?, ?);");
-		sqlite3_bind_pubkey(stmt, 1, &chan->peer->id);
-		if (chan->peer->addr.type == ADDR_TYPE_PADDING)
-			sqlite3_bind_null(stmt, 2);
-		else
-			sqlite3_bind_text(stmt, 2,
-					  type_to_string(tmpctx, struct wireaddr, &chan->peer->addr),
-					  -1, SQLITE_TRANSIENT);
-		db_exec_prepared(w->db, stmt);
-		chan->peer->dbid = sqlite3_last_insert_rowid(w->db->sql);
-	}
-
-	/* Insert a stub, that we can update, unifies INSERT and UPDATE paths */
-	if (chan->dbid == 0) {
-		stmt = db_prepare(w->db, "INSERT INTO channels ("
-				  "peer_id, first_blocknum) VALUES (?, ?);");
-		sqlite3_bind_int64(stmt, 1, chan->peer->dbid);
-		sqlite3_bind_int(stmt, 2, chan->first_blocknum);
-		db_exec_prepared(w->db, stmt);
-		chan->dbid = sqlite3_last_insert_rowid(w->db->sql);
-		derive_channel_seed(w->ld, &chan->seed, &chan->peer->id,
-				    chan->dbid);
-	}
-
 	/* Need to initialize the shachain first so we get an id */
 	if (chan->their_shachain.id == 0) {
 		wallet_shachain_init(w, &chan->their_shachain);
@@ -820,7 +803,6 @@ void wallet_channel_save(struct wallet *w, struct channel *chan)
 
 	wallet_channel_config_save(w, &chan->our_config);
 
-	/* Now do the real update */
 	stmt = db_prepare(w->db, "UPDATE channels SET"
 			  "  shachain_remote_id=?,"
 			  "  short_channel_id=?,"
@@ -925,6 +907,38 @@ void wallet_channel_save(struct wallet *w, struct channel *chan)
 	tal_free(tmpctx);
 }
 
+void wallet_channel_insert(struct wallet *w, struct channel *chan)
+{
+	tal_t *tmpctx = tal_tmpctx(w);
+	sqlite3_stmt *stmt;
+
+	if (chan->peer->dbid == 0) {
+		/* Need to create the peer first */
+		stmt = db_prepare(w->db, "INSERT INTO peers (node_id, address) VALUES (?, ?);");
+		sqlite3_bind_pubkey(stmt, 1, &chan->peer->id);
+		if (chan->peer->addr.type == ADDR_TYPE_PADDING)
+			sqlite3_bind_null(stmt, 2);
+		else
+			sqlite3_bind_text(stmt, 2,
+					  type_to_string(tmpctx, struct wireaddr, &chan->peer->addr),
+					  -1, SQLITE_TRANSIENT);
+		db_exec_prepared(w->db, stmt);
+		chan->peer->dbid = sqlite3_last_insert_rowid(w->db->sql);
+	}
+
+	/* Insert a stub, that we update, unifies INSERT and UPDATE paths */
+	stmt = db_prepare(w->db, "INSERT INTO channels ("
+			  "peer_id, first_blocknum, id) VALUES (?, ?, ?);");
+	sqlite3_bind_int64(stmt, 1, chan->peer->dbid);
+	sqlite3_bind_int(stmt, 2, chan->first_blocknum);
+	sqlite3_bind_int(stmt, 3, chan->dbid);
+	db_exec_prepared(w->db, stmt);
+
+	/* Now save path as normal */
+	wallet_channel_save(w, chan);
+	tal_free(tmpctx);
+}
+
 void wallet_channel_delete(struct wallet *w, u64 wallet_id)
 {
 	sqlite3_stmt *stmt;
diff --git a/wallet/wallet.h b/wallet/wallet.h
index de32f47ef..60e0866bf 100644
--- a/wallet/wallet.h
+++ b/wallet/wallet.h
@@ -30,6 +30,7 @@ struct wallet {
 	struct ext_key *bip32_base;
 	struct invoices *invoices;
 	struct list_head unstored_payments;
+	u64 max_channel_dbid;
 };
 
 /* Possible states for tracked outputs in the database. Not sure yet
@@ -206,6 +207,13 @@ bool wallet_shachain_load(struct wallet *wallet, u64 id,
 			  struct wallet_shachain *chain);
 
 
+/**
+ * wallet_get_uncommitted_channel_dbid -- get a unique channel dbid
+ *
+ * @wallet: the wallet
+ */
+u64 wallet_get_channel_dbid(struct wallet *wallet);
+
 /**
  * wallet_channel_save -- Upsert the channel into the database
  *
@@ -215,6 +223,14 @@ bool wallet_shachain_load(struct wallet *wallet, u64 id,
  */
 void wallet_channel_save(struct wallet *w, struct channel *chan);
 
+/**
+ * wallet_channel_insert -- Insert the initial channel into the database
+ *
+ * @wallet: the wallet to save into
+ * @chan: the instance to store
+ */
+void wallet_channel_insert(struct wallet *w, struct channel *chan);
+
 /**
  * wallet_channel_delete -- After resolving a channel, forget about it
  */