No, you can have onchain without being inside the channel. It’s a hot wallet. How else you fund the channel? it must be an onchain tx before one can open a channel.
Discussion
Itd eliminate the first step of:
going from cold storage wallet --> on chain lightning wallet --> locked into a lightning
If i could secure the keys to my btc in my on chain lightning wallet that arent locked in a channel.
I don’t know what’s ltd? one must create an onchain tx to your LND, c-lightning implementation etc… wallet before you can create channels, private key must sign tx to open a channel, which is an onchain tx to begin with. Whatever left and not in channel are hot utxos.
It'd, sorry about that. Ya i understand how it currently works, but that doesnt answer why one couldnt have increased security by having a lightning node which could pair with say a ledger to require the hardware device to sign for any on chain transactions whether its sweeping funds out or opening new channels. Doesnt seem that would would impair locking funds into lightning channels ( once theyre in lightning doesnt matter how you signed the transaction) and would allow one to have funds sit in the lightning node's wallet in the most secure way.
It'd = it would
Ther is no eliminate the first step - private keys must be online to sign tx that opens the channel. Anchor amount of sats that stays on chain is hot so in case one needs to bump the fee if it’s too low when yuu opening a channel.
I see so there is functionality to potentially use the funds in your hot wallet, and a signing device interferring with that would be a problem. Thus the always hot on chain wallet. i appreciate the discussion and explanation !
(Would)-n. State of what is, vb. Absolutely is if what had had been , adj. wishful thinking casue it wasn’t! , also It’d can be. “What if it did?” , the expression determines the meaning
Isn’t that a basic Bitcoin wallet? I know it’s not connected to a channel, I guess I thought it had to be in one before it can be sent for an invoice/payment. My mistake. Still makes sense why offline hardware wouldn’t work tho.
There is a basic bitcoin wallet( i said on chain but think were saying the same thing) with keys in all lightning nodes, and you lock funds into channels via a 2 of 2 multisig on chain transaction. Not understanding why the basic wallet that has utxos cant require a hardware wallet for signing tramsactions. Just curious for a concrete answer on that or why that wouldnt be a good idea.