diff --git a/daemon/peer.c b/daemon/peer.c
index 7fe4c625f..02d97fa52 100644
--- a/daemon/peer.c
+++ b/daemon/peer.c
@@ -1792,7 +1792,7 @@ static struct peer *new_peer(struct lightningd_state *dstate,
 	peer->commit_jsoncmd = NULL;
 	list_head_init(&peer->outgoing_txs);
 	list_head_init(&peer->pay_commands);
-	peer->anchor.watches = NULL;
+	peer->anchor.ok_depth = -1;
 	peer->cur_commit.watch = NULL;
 	peer->closing.their_sig = NULL;
 	peer->closing.our_script = NULL;
@@ -2166,30 +2166,16 @@ again:
 	}
 }
 
-struct anchor_watch {
-	struct peer *peer;
-	enum state_input depthok;
-	enum state_input timeout;
-
-	/* If timeout != INPUT_NONE, this is the timer. */
-	struct oneshot *timer;
-};
-
 static enum watch_result anchor_depthchange(struct peer *peer,
 					    unsigned int depth,
 					    const struct sha256_double *txid,
 					    void *unused)
 {
-	struct anchor_watch *w = peer->anchor.watches;
-
 	/* Still waiting for it to reach depth? */
-	if (w->depthok != INPUT_NONE) {
-		if (depth >= peer->local.mindepth) {
-			enum state_input in = w->depthok;
-			w->depthok = INPUT_NONE;
-			/* We don't need the timeout timer any more. */
-			w->timer = tal_free(w->timer);
-			state_event(peer, in, NULL);
+	if (state_is_opening(peer->state)) {
+		if ((int)depth >= peer->anchor.ok_depth) {
+			state_event(peer, BITCOIN_ANCHOR_DEPTHOK, NULL);
+			peer->anchor.ok_depth = -1;
 		}
 	} else if (depth == 0)
 		/* FIXME: Report losses! */
@@ -3010,8 +2996,6 @@ static enum watch_result anchor_spent(struct peer *peer,
 		set_peer_state(peer,
 			       STATE_ERR_INFORMATION_LEAK,
 			       "anchor_spent");
-		/* No longer call into the state machine. */
-		peer->anchor.watches->depthok = INPUT_NONE;
 		return DELETE_WATCH;
 	}
 
@@ -3037,34 +3021,28 @@ static enum watch_result anchor_spent(struct peer *peer,
 	assert(peer->closing_onchain.resolved != NULL);
 	watch_tx(tx, peer, tx, check_for_resolution, NULL);
 
-	/* No longer call into the state machine. */
-	peer->anchor.watches->depthok = INPUT_NONE;
 	return KEEP_WATCHING;
 }
 
-static void anchor_timeout(struct anchor_watch *w)
+static void anchor_timeout(struct peer *peer)
 {
-	assert(w == w->peer->anchor.watches);
-	state_event(w->peer, w->timeout, NULL);
-
-	/* Freeing this gets rid of the other watches, and timer, too. */
-	w->peer->anchor.watches = tal_free(w);
+	/* FIXME: We could just forget timeout once we're not opening. */
+	if (state_is_opening(peer->state))
+		state_event(peer, BITCOIN_ANCHOR_TIMEOUT, NULL);
 }
 
 void peer_watch_anchor(struct peer *peer,
+		       int depth,
 		       enum state_input depthok,
 		       enum state_input timeout)
 {
-	struct anchor_watch *w;
+	/* We assume this. */
+	assert(depthok == BITCOIN_ANCHOR_DEPTHOK);
+	assert(timeout == BITCOIN_ANCHOR_TIMEOUT || timeout == INPUT_NONE);
 
-	w = peer->anchor.watches = tal(peer, struct anchor_watch);
-
-	w->peer = peer;
-	w->depthok = depthok;
-	w->timeout = timeout;
-
-	watch_txid(w, peer, &peer->anchor.txid, anchor_depthchange, NULL);
-	watch_txo(w, peer, &peer->anchor.txid, 0, anchor_spent, NULL);
+	peer->anchor.ok_depth = depth;
+	watch_txid(peer, peer, &peer->anchor.txid, anchor_depthchange, NULL);
+	watch_txo(peer, peer, &peer->anchor.txid, 0, anchor_spent, NULL);
 
 	/* For anchor timeout, expect 20 minutes per block, +2 hours.
 	 *
@@ -3087,22 +3065,10 @@ void peer_watch_anchor(struct peer *peer,
 	 *
 	 * So, our formula of 12 + N*2 holds for N <= 20 at least.
 	 */
-	if (w->timeout != INPUT_NONE) {
-		w->timer = new_reltimer(peer->dstate, w,
-					time_from_sec(7200
-						      + 20*peer->local.mindepth),
-					anchor_timeout, w);
-	} else
-		w->timer = NULL;
-}
-
-void peer_unwatch_anchor_depth(struct peer *peer,
-			       enum state_input depthok,
-			       enum state_input timeout)
-{
-	assert(peer->anchor.watches);
-	assert(peer->anchor.watches->depthok == depthok);
-	peer->anchor.watches->depthok = INPUT_NONE;
+	if (timeout != INPUT_NONE)
+		new_reltimer(peer->dstate, peer,
+			     time_from_sec(7200 + 20*peer->anchor.ok_depth),
+			     anchor_timeout, peer);
 }
 
 struct bitcoin_tx *peer_create_close_tx(struct peer *peer, u64 fee)
diff --git a/daemon/peer.h b/daemon/peer.h
index 24e79268f..2d6a72165 100644
--- a/daemon/peer.h
+++ b/daemon/peer.h
@@ -149,7 +149,9 @@ struct peer {
 	
 		/* If we created it, we keep entire tx. */
 		const struct bitcoin_tx *tx;
-		struct anchor_watch *watches;
+
+		/* Depth to trigger anchor if still opening, or -1. */
+		int ok_depth;
 	} anchor;
 
 	struct {
diff --git a/state.c b/state.c
index ae4e2ad0c..131407508 100644
--- a/state.c
+++ b/state.c
@@ -156,7 +156,8 @@ enum state state(struct peer *peer,
 					      &peer->remote.commit->sig->sig);
 
 			queue_pkt_open_commit_sig(peer);
-			peer_watch_anchor(peer, 
+			peer_watch_anchor(peer,
+					  peer->local.mindepth,
 					  BITCOIN_ANCHOR_DEPTHOK,
 					  BITCOIN_ANCHOR_TIMEOUT);
 
@@ -187,6 +188,7 @@ enum state state(struct peer *peer,
 			}
 			queue_tx_broadcast(broadcast, bitcoin_anchor(peer));
 			peer_watch_anchor(peer,
+					  peer->local.mindepth,
 					  BITCOIN_ANCHOR_DEPTHOK,
 					  INPUT_NONE);
 			return next_state(peer, input,
@@ -202,10 +204,6 @@ enum state state(struct peer *peer,
 			err = accept_pkt_open_complete(peer, pkt);
 			if (err) {
 				peer_open_complete(peer, err->error->problem);
-				/* We no longer care about anchor depth. */
-				peer_unwatch_anchor_depth(peer, 
-							  BITCOIN_ANCHOR_DEPTHOK,
-							  INPUT_NONE);
 				goto err_breakdown;
 			}
 			return next_state(peer, input,
@@ -222,17 +220,9 @@ enum state state(struct peer *peer,
 			return next_state(peer, input,
 					  STATE_OPEN_WAIT_FOR_COMPLETE_OURANCHOR);
 		} else if (input_is(input, PKT_CLOSE_CLEARING)) {
-			/* We no longer care about anchor depth. */
-			peer_unwatch_anchor_depth(peer,
-						  BITCOIN_ANCHOR_DEPTHOK,
-						  INPUT_NONE);
 			peer_open_complete(peer, "Received PKT_CLOSE_CLEARING");
 			goto accept_clearing;
 		} else if (input_is_pkt(input)) {
-			/* We no longer care about anchor depth. */
-			peer_unwatch_anchor_depth(peer,
-						  BITCOIN_ANCHOR_DEPTHOK,
-						  INPUT_NONE);
 			peer_open_complete(peer, "unexpected packet");
 			goto unexpected_pkt;
 		}
@@ -242,10 +232,6 @@ enum state state(struct peer *peer,
 			err = accept_pkt_open_complete(peer, pkt);
 			if (err) {
 				peer_open_complete(peer, err->error->problem);
-				/* We no longer care about anchor depth. */
-				peer_unwatch_anchor_depth(peer, 
-							  BITCOIN_ANCHOR_DEPTHOK,
-							  BITCOIN_ANCHOR_TIMEOUT);
 				goto err_breakdown;
 			}
 			return next_state(peer, input,
@@ -266,17 +252,9 @@ enum state state(struct peer *peer,
 			return next_state(peer, input,
 					  STATE_OPEN_WAIT_FOR_COMPLETE_THEIRANCHOR);
 		} else if (input_is(input, PKT_CLOSE_CLEARING)) {
-			/* We no longer care about anchor depth. */
-			peer_unwatch_anchor_depth(peer,
-						  BITCOIN_ANCHOR_DEPTHOK,
-						  BITCOIN_ANCHOR_TIMEOUT);
 			peer_open_complete(peer, "Received PKT_CLOSE_CLEARING");
 			goto accept_clearing;
 		} else if (input_is_pkt(input)) {
-			/* We no longer care about anchor depth. */
-			peer_unwatch_anchor_depth(peer,
-						  BITCOIN_ANCHOR_DEPTHOK,
-						  BITCOIN_ANCHOR_TIMEOUT);
 			peer_open_complete(peer, "unexpected packet");
 			goto unexpected_pkt;
 		}
diff --git a/state.h b/state.h
index 495bca072..a268bb9fe 100644
--- a/state.h
+++ b/state.h
@@ -94,6 +94,7 @@ static inline bool input_is(enum state_input a, enum state_input b)
 /**
  * peer_watch_anchor: create a watch for the anchor transaction.
  * @peer: the state data for this peer.
+ * @depth: depth at which to fire @depthok.
  * @depthok: the input to give when anchor reaches expected depth.
  * @timeout: the input to give if anchor doesn't reach depth in time.
  *
@@ -101,19 +102,9 @@ static inline bool input_is(enum state_input a, enum state_input b)
  * ourselves out).
  */
 void peer_watch_anchor(struct peer *peer,
+		       int depth,
 		       enum state_input depthok,
 		       enum state_input timeout);
-/**
- * peer_unwatch_anchor_depth: remove depth watch for the anchor.
- * @peer: the state data for this peer.
- * @depthok: the input to give when anchor reaches expected depth.
- * @timeout: the input to give if anchor doesn't reach depth in time.
- *
- * @depthok and @timeout must match bitcoin_watch_anchor() call.
- */
-void peer_unwatch_anchor_depth(struct peer *peer,
-			       enum state_input depthok,
-			       enum state_input timeout);
 
 /* Start creation of the bitcoin anchor tx. */
 void bitcoin_create_anchor(struct peer *peer, enum state_input done);