Hi,
I am no expert but here's my reply..
(1) I suppose co2 will tend to accumulate at the top of the tube where your ceramic rings are housed, so make sure it is sealed properly, else it co2 will escape.
(2) I would say yes. co2 dissolved in water forming carbonic acid hence lowering ph. (this is what I understand, perhaps others can comment)
(3) Fine bubbles exiting from your DIY reactor? Well, no comments whether it is ok or not, since there're those who found the 'misting' technique to be better, yet there are those who swear by the dissolve co2 is better school of thought. But fine bubble probably means your bubble per second is too high or the powerhead is too powerful, hence there's no chance for the injected co2 to be completely dissolved.
(4) Again.. there're people who wants to see their plants bubble, there're those who don't care. But what sort of plants are your having? This will help others comments.
(5) Depend on your tank size. Which you never state.
(6) I think it will definitely help to improve the co2 injection. But do keep a lookout on how your fishes behave... they may end up gasping for air at the surface of the tank which is always a bad sign and indication that you're overdoing it.
Hope my comments helped.
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