nostr:npub1getal6ykt05fsz5nqu4uld09nfj3y3qxmv8crys4aeut53unfvlqr80nfm I was checking my account for info on Alby Hub and just noticed this about the free custodial wallet sunsetting soon. Do you have any additional info on when you plan to sunset that service? Does that mean all users will need to either self-host or pay 21k says a month to use Alby wallet services? Wondering what to expect and when. Thanks 🤙
I wondered that too
yikes
self-host or pay, that's how I read it
I believe so too. Just making sure I’m understanding it correctly and wondering what the timeline is for sunsetting the current custodial service.
Incorrect. just use AlbyHub
incorrect. You can use AlbyHub but you will need to manage the channels in the dashboard. Its really not that hard.
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I never went with Alby. I have no idea which wallet to use. All well.
WoS and Phoenix were nice back in the day.
Just use AlbyHub
I thought you still had a custodial account free
I do. That’s what I’ve been using. In that screenshot though it says that options is going to sunset soon, so just wondering when they are going to sunset that service.
yeah, this kinda bothers me also
but if they make it so it's not difficult, and moderately profitable to run the tech behind it then kyc can feel up deez nutz IN THEIR PSYCHOTIC DREAMS
Custodial solutions sunsetting is good for bitcoin!
Yeah but I have no idea what to do from here
Time to figure out how to run a node or open channels with the none custodial wallets 😁
I've been looking into that for a while. I always hit a wall with the price of the hardware. I should be done fixing the house in the next few years so I will probably revisit it then
You don’t need hardware wallet for zaps!
i thought for a self custody lnurl node and channel i needed a hard drive that was online 24/7.
LOL as you might have guessed by now i have no effin idea what im doing or where to start 😂 😂 😂
Yes Indeedy - lets outline the cases where you start as a lightning n00b and need a nice path to becoming fully self sovereign:
# Starting point - Custodial Wallet - once you are ready to wean yourself off of this you can go to step #1 below:
Self Sovereign Step #1 - Wallet in the Cloud - AlbyHub - it is free. I've been using it for a while in beta. Its not perfectly sovereign but its a good stepping stone to go from custodial to learning channel management to running your own self sovereign node. It is by far the least steep learning hill to transition away from custodial.
Self Sovereign Step #2 - more 3L33T
if you want to run a super light lightning node, set it and forget with some tech skills required - there is this option here with LNBits + phoenixd but you'll still have to put up your own capital in bitcoin and spend about $5/mo on VPS, you need 24/7 uptime, this isn't gonna work with unstable internet. https://github.com/bitkarrot/lnbits-phoenixd/
Another option is to use Voltage but the price can be a bit steeper for serious usage as it jumps quickly from free to $25/month tier. the plus is you don't have to manage all the upgrades but you still need to have tech knowledge to run it
Self Sovereign Step #3 - Super 3L33T
Run your full self sovereign lightning node, e.g. CLN, LND, Eclair on your own hardware, using your own self sovereign internet satlink or whatever plus your own bitcoin capital and self manage it. This is a tall order for most 99% of plebs unless you're a tech junky, and even as a dev its time consuming and steep hill learn, less so to run after you have learned. pricing and setup may vary.
👀
After the arrest of the WoS authors, it was inevitable.
did i miss this? samurai yes, but WoS as well?
#1 DON'T PANIC - Alby custodial users - Stop freaking out.
If INNOVATION and FREEDOM Is NOT YOUR THING, and just want to go with the "Easy", then JUST IGNORE THIS MESSAGE, and enjoy your state sponsored control.
The important thing here is to recognize that Alby is offering a non-KYC option that doesn't require you to run your own server. There is no other company in the space doing it.
If you want custodial in US, then its turning into 100% KYC.
KYC is Dangerous.
What you must understand is that KYC custodial can easily become EO 6102 - confiscation, track and trace your spending and buying habits just like CCP China where if you say ONE FUCKING WORD WRONG they will block all your micro transactions.
All other lightning wallet providers has been forced into a KYC situation or have exited the US (e.g. wallet of satoshi, phoenix just to name a few)
Its not hard to just run Alby Hub, its free but you must learn how to channel manage, its not hard, and its valuable know-how.
If you must have a set it and forget it option and don't want to learn, then choose the paid option. Alby as a company has to make some income for providing the services; this is one way to support them.
Plus - in case you haven't noticed this is one of the few companies who actually is innovating and integrating a lot into open source projects, not just close walling it off and keeping everything to themselves, e.g. Strike and CashApp.
I can't remember the last time Strike or CashApp wanted to collaborate with an open source project and offer bounties to open source devs, ( seriously correct me if i am wrong). These kyc custodial companies are running the same path as the silo'd big tech giants , and you know where the story ends..... control of all your deets, speech, spending habits.....etc.
- Over and Out -
We are slowly rolling out Alby Hub and new services. We're also working on proper announcements (we're still better at computer code than at human language 😉 )
Alby Hub runs everywhere and we make it easy for everyone to run it. And we will also offer a paid cloud service for it.
The screenshots that your user already sees there are WIP and subject to change - and we build in the open there 😉
Thanks for the response! I was mostly just wondering about the timeline for the sunsetting of the custodial service and what onboarding new users looks like in the absence of that. I sent an invite to someone last night and then spent the day responding to questions about self custody and channels and liquidity. That’s a much different experience for a new user than the previous custodial option, and changes how I would incorporate Alby into my orange pilling. Totally understand the tradeoffs between custody and self-custody.
yeah, it's not as smooth as it should be, yet. (which is also why we're still a bit hesitant with invites)
And people will be confronted with owning keys in the future - which I think is a good and important thing. Something to celebrate even :)
New users will get on the self-sovereign Alby Hub. Existing users have the choice but slowly upgrade.
Thanks for taking the time to explain! Excited for what you guys are doing and making self custody easier. The one concern I have is that losing the custodial service means losing yet another good option for exposing new users to Lightning who aren’t ready or capable of self hosting, and who may not use it enough or have enough bitcoin to justify the monthly fee. In the big picture it’s great to have more self-custodial options, but need to look for other solutions for that initial orange pilling.
yes, we will see what the future will allow there.
but also think of a shared node, or embedded mints, etc. would you invite people to get started with your node for example?
