Subnostr

I think maintaining a lightning wallet and a seperate on-chain wallet makes the most sense. You keep 50k sats in your lightning wallet, for zaps and lightning payments, and the rest you keep in your on-chain wallet. That's your savings. And you can move sats from your lightning wallet to your on-chain wallet when it has accumulated a certain amount. This way, you're keeping enough sats to zap others and pay any expenses you may have, while adding to your on-chain savings on a regular basis. And if you're making monthly purchases of bitcoin, those go to your on-chain wallet.

The Daniel 🖖 1y ago

I’m still on the fence about Liquid as an option to use Lightning for payments without maintaining channels. I was not a fan earlier in the year until I started seeing some of the things being built with the nostr:npub1jugar2agq6369p0l86razavs9shj2p6pscxecevs8j94ap37hkqsjlfc28 SDK and it’s growing on me. It’s not as fast as Lightning but it’s also much easier for the average user to onboard onto one of these wallets. It’s not a perfect solution, but neither is ecash, because of the custodial risk.

For most purposes, keeping small balances under $100 USD value on any hot wallet makes the most sense.

Reply to this note

Please Login to reply.

Discussion

SLCW 1y ago

I haven't seen a lot of places that actually accept Liquid. A few wallets support Liquid, including Coinos, and Aqua Wallet, but I can't remember the last time I ran into a merchant that accepted it. I think Lightning is more practical, and better supported. And if you're running a wallet that demands running your own node, I think the fees are reasonable.

I think the whole deal with maintaining lightning channels is an unnecessary pain in the ass. Wallets like Breez manage the channels for you in the background, and with no intervention necessary. I think a solution like that is better than running your own node, such as it is with Zeus. I'd rather just have the wallet deal with that in the background.

I suppose it does depend on how much you're transacting, but for facilitating zaps and making a few payments each month, I just don't see the value in getting involved with opening and closing, and rebalancing channels. I think Breez is much more efficient and user-friendly option. Or even a custodial option like LifPay, or a pseudo-custodial option like Minibits. The only issue with Breez is that it doesn't support NWC, or provide a lightning address. That means it's worthless for use with Nostr. You'd have to run a separate wallet like Minibits, Coinos.io, or LifPay for Nostr compatibility.

The Daniel 🖖 1y ago

You probably didn’t get what I was saying. The new generation of wallets store balances in Liquid but transact over Lightning. This way the user can receive instantly with no syncing and channel management, and merchants can receive payments via the Lightning network. (These are mainly facilitated by nostr:npub1psm37hke2pmxzdzraqe3cjmqs28dv77da74pdx8mtn5a0vegtlas9q8970.)

SLCW 1y ago

Are you referring to Breez?

The Daniel 🖖 1y ago

Not the main Breez mobile app but what’s currently being shipped using their SDK and Greenlight.

I’ve been testing Yopaki for a few weeks and aside from a handful of bugs and UX issues I’ve found that are being fixed, it’s really promising.

https://yopaki.com

SLCW 1y ago

Have you checked out Blitz Wallet?

Blitz Wallet — A self-custodial Bitcoin Lightning, Liquid, and Ecash wallet aiming to simplify payments on the Bitcoin Network.

It's built with the Breez SDK and works with Liquid.

https://blitz-wallet.com/

The Daniel 🖖 1y ago

Not yet but I will. Looks very similar to how Yopaki works. Thanks for sharing.

SLCW 1y ago

That Yopaki organization sounds like a bitcoin exchange with some extended functionality, including buying and selling cryptocurrency-related stocks and ETFs. Have you established an account with them? How are ylu using it? Just to buy bitcoin?

The Daniel 🖖 1y ago

No, it’s not an exchange. It’s just a wallet. There is no KYC needed to use it. I’ve been testing it along with a list of other Lightning and Lightning-enabled wallets to onboard people in New York where KYC’d custodial wallets are not available.

SLCW 1y ago

Hmmm... That's interesting. Based on the website, I thought it was an exchange. I'll have to sign up and see what it's all about. I love evaluating new wallets. It's one of my nerd hobbies.

The Daniel 🖖 1y ago

Honestly I never even read their website copy before. It doesn’t describe the app very well! 😄

SLCW 1y ago

Yeah, I guess not. No part of their website led me to believe it was a wallet.

The Daniel 🖖 1y ago

I’ll ask the founder Francisco about that next time I talk to him.

SLCW 1y ago

I don't even think the word "wallet" is in there. Lol

The Daniel 🖖 1y ago

It’s on the App Store. I wonder if they pivoted from an earlier business idea and forgot to update the website. 😂

modulo 1y ago

Yopaki looks indirectly unpleasant for tracking

SLCW 1y ago

Most of that probably comes from the purchasing function. Anything that facilitates purchasing typically involves a level of KYC data that I'm always uncomfortable with. Of course, the place I buy coins from, Cash App, also involves a bunch of KYC and transaction data, so I don't know WhatsUp with my inconsistent criteria. Lol I guess since I provided all my data a long time ago, I just forget about it when I'm buying. It's just so easy and fast that I forget that all my information is being attached to every purchase. Oh well 🤷‍♂️

modulo 1y ago

I get it and understand. Risky to direct newcoiners into a web of connection though. Even though you own the keys to the bitcoin wallet I imagine the app attaches lightning transactions to your app/phone ownership

Marc Kat 1y ago

There's a brewery by me that accepts bitcoin with the Aqua Wallet. They take liquid BTC.