Guys,
Block stream was nice enough to zap all of us.
I hope you're all checking out the Liquid network!
For example you can get your sats off of Wallet of Satoshi and onto your Jade hardware wallet as L-BTC which is safer than full custody (but not 100% safe)
So far I'm pretty happy with it!
This is exactly what I want to do, store some L-BTC on a Jade with the ability to swap it quickly and cheaply to Lightning in order to use it. Waiting for my Jade to arrive but from testing with the Blockstream Green app this seems to work well.
Yep it works, I'm doing that now
Why is it safer than full custody?
I just set up a nostr:npub1jg552aulj07skd6e7y2hu0vl5g8nl5jvfw8jhn6jpjk0vjd0waksvl6n8n Jade about week ago. A bit different UI than I'm used to with the QR code option. I haven't played with L-BTC at all. Also had some issues setting up my watch only wallet in the Green app.
Because it's a federated network, you'd need 11 people to collude to rug you. With wallet of satoshi, that's full custody, only takes 1.
I didn’t get it.
So you use a hardwarewallet Jade. What software do you use?
What I never understand with Lightining is I use Muun to switch my mainchain BTC to Lightining. But if Muun didin’t exist I have no idea to do that. Can you explain what software you use, how do you send main chain BTC to this Lightining etc.
Blockstream is absolutely smashing right now, all of their products and developments are top notch imo.
What are the options for lightning to liquid swaps? I see boltz exchange. Is that the best/cheapest way?
That's what I used
Ok, yes. I just completed a lightning to Liquid swap on boltz exchange. Very simple.
I just swapped 11k sats from a lightning wallet to L-BTC on my Blockstream Green wallet. I paid 428 sats in network fees and 10 sats for boltz exchange fees. The swap took about a minute to confirm. Very easy to do.
Go to Boltz Exchange. Enter amount of sats you want to swap (about 10k is minimum) and also enter your Blockstream Green L-BTC address. Click swap, use your lightning wallet to scan the invoice generated, pay and wait one minute. Swap will be confirmed and L-BTC shows in your Blockstream Green Wallet. Cool 😎
I should probably give the boltz address to verify the site I used
I guess my next question is what is the difference between the Main Account (Legacy Segwit (BIP49))and Segwit Account (Segwit (BIP84)), options in Blockstream Green Wallet? 😀
It's objectively worse than full custody. Same as normal, if you lose your keys, you lose your bitcoin, but also it's custodial
Disagree strongly. I think the odds of getting rugged by liquid are infinitely less than getting rugged by an exchange or a service like WoS...
Which is the main reason to avoid custody.
nostr:npub1jg552aulj07skd6e7y2hu0vl5g8nl5jvfw8jhn6jpjk0vjd0waksvl6n8n specifically didn't tag you on this thread to avoid the zap!.
Zap the others, I'm already sold on liquid 🙏😂
Together we will scale Bitcoin 🫡
