Am I retarded for buying BTC every day?
What is the ideal DCA strategy to avoid dust and UTXO consolidation issues later?
Discussion
Stack daily purchases into a lightning channel of sufficient size, and once it’s “full” then either close the channel or swap out some of it to an on chain address.
Is there a README.md for this concept. I’m too lazy to run a lighting node. I do run a BTC node and have a miner on order, but lighting seems like a real PITA to run
It wasn’t until Phoenix and Wallet of Satoshi pulled out of the US
Umbrel is dead simple though, I recommend it for this concept
I don’t know of a guide. This is a good use for the “node in the phone” wallets like Blixt, Breez, Zeus. Without running your own lightning node you’d have to use a custodial lightning wallet or maybe even liquid to stack each day, and then swap it out to on chain when it’s enough to make a decent size UTXO. But then you’re dealing with the custodial/trust issue.
I'm the same WRT a Lightning node. I just don't use lightning enough at the moment.
I've only recently started to try out Aqua and Liquid, but I haven't swapped from Lightning to on-chain yet.
No clue about the second part.
If you are retarded, then I am, too.
I tend to DCA on an exchange until the amount makes me uncomfortable, then I withdraw it. I further consolidate those UTXOs when fees are minimal.
Really depends on your risk tolerance. Keeping a little on the exchange is not the end of the world.
If you run your own lightning node you can take advantage of that by filling up and swapping out when the UTXO size makes sense.
Although, I heard that sending lightning to your own wallet is not the best idea from a privacy perspective (I don’t know how Lightning privacy works)
Wanted to add, sending to your own node is one of the best ways to justify the cost of running it.
If you save $3 every transaction, you will make up the cost of a node with time.
Just withdraw from exchange anytime you have more than a few million sats