How do you use liquid?
The fees for some Lightning services such as the new version of Phoenix are absurd.
0.4% for sending any payment? 😂 every day it becomes clearer to me that LN is broken and only good for centralized services that abuse fees.
I'll stick with Liquid Network (there is nothing better despite being federated) and I fully support nostr:npub180cvv07tjdrrgpa0j7j7tmnyl2yr6yr7l8j4s3evf6u64th6gkwsyjh6w6 with sidechains.
Discussion
I use it to withdraw bitcoin from the exchange as the withdrawal in liquid is free not like bitcoin.
Also with people I know who use green wallet like me, sending satoshis is immediate and costs about 150 satoshis and I don't have to worry about incoming liquidity like with LN.
When I have enough L-BTC I exchange it for BTC in sideswap for 0,1% fee.
Thanks nostr:npub1lnms53w04qt742qnhxag5d6awy7nz6055flnmjkr6jg39hm86dlq7arrnt
Which exchange do you like that support liquid withdrawals? P2P?
If it's of use let me describe what I've found a use case for Liquid. I run a lightning node and I need to rebalance it from time to time. So, I set aside a certain number of sats that I can use to do that rebalancing. My issue was....where do I keep those sats that I need to use to do that rebalancing?
1) I could hold them, on lightning, in a wallet that is custodial but I feel that is not ideal given I am relying on a third party.
2) I could hold the sats on chain in a self custodial wallet but fees make that somewhat uneconomical if I'm only rebalancing my lightning channel with smaller sat values from time to time and I don't find on chain to Lightning swaps really fun in the present options.
I decided to try getting my sats that I set aside, onto Liquid and storing in Liquid on Blockstream Green wallet (I used Boltz exchange to swap). The fee to swap to Liquid is reasonable and it is even cheaper when I swap Liquid back to Lightning. That way I have way less fees when I need sats to rebalance my node. I understand that I am in a way making a decision to trust the Liquid setup but it's a compromise on "pure" on chain BTC that I am willing to make at this time.
Blockstream Green is also in the process of integrating a lightning wallet into the setup and I am keen to see how that works out. For me, with a whole buffet of hardware wallets, custodial and self custody lightning
wallets and my own a node, it's all part of the constant obsession I have with bitcoin in all it's glory but I'm seeing that for my wife, who is not quite as bit-tarded as me I'm thinking Green/Liquid/Lightning might be a really solid wallet choice for her.