I would maybe add #lightning but it seems to centralised atm. Something like 93% of nostr users are using Wallet of Satoshi. We cant rely on custodians and KYC compliant companies with our bitcoin or we risk creating something even worse than fiat clown world.
Discussion
Lightning is bigger than nostr
Yes, and most lightning users outside nostr are using custodial wallets that can rug users at any time.
Then they will get rugged and learn, same with bitcoin on exchanges.
So we should all cheer on Wallet of Satoshi to steal our funds to prove your point. 🤣
Do want to start the campaign with me?
My point was that drive chains don't solve finance any better than lightning if everyone keeps their coins on exchanges
Actually people would be able to send mainchain bitcoin to a sidechain self custody wallet address.
No need to pay to open multiple Lightning channels to do self custody.
Cheaper, more convenient and more choice.
More choice meaning you can have a sidechain that prioritises defi and smart contracts for financial apps.
You can have a sidechain that prioritises privacy and scalable cheap payments.
If people keep their mainchain bitcoin on exchanges, they will do the same with any sidechain coins
There’s a reason metamask is the most popular wallet in the world because it’s user friendly, multi chain and allows for self-custody. Obviously not as secure as a cold wallet buts it’s much bigger improvement that custodial lightning wallets.
I imagine if dc was implemented everyone would use a metamask style wallet that allows for various sidechains and main chain bitcoin with user friendly atomic swaps and peg ins and peg outs of sidechains.
That’s how I see it.
Barriers to entry for that model are no different than what we have now. It's very simple to install Phoenix today and have a self-custodial lightning wallet - but apparently people don't
You have to pay to open lightning channels and transactions sometimes fail due to liquidity issues. This is not a good UX or model.
To open a sidechain wallet would cost nothing and transactions are executed by miners.
#STEALOURCOINS!
That’s the threat and opportunity isn’t it. This whole set up is great because it allows us to build what we want and what we need. And then to refine that process by looking at what else is important 😊
I’ve got no problem saying IDK something so, what are some non custodial #lightning options you’d recommend. I have found WoS “convenient because of the address options. But I’ve no problem making changes to which wallets I use
#plebchain
There is muun wallet, mutiny wallet, Zeus and phoenix wallet.
I use Muun for day to day tx. But WoS was the easiest option for Damus & OPA.
Gotta actually get off my ass and spin up a CLN node to use Zeus but it’s on the to do list.
I use WoS for nostr as well. It’s just easier and faster.
My point is though this is not good for adoption. We must build better tools.