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#bitcoin Lightning wallets - what is the fuss about ?

As a user I love custodial lightning wallet(s) .. I have no intent to set up my own permanent lightning node .. I did one just to experiment and lost 100 k #sats ( around 60 dollars ), but I take it as cost of learning .. and it didn't make me feel any less about #lightning

Agree "wallet of Satoshi" was banned in US but there are many other choices ..

And what if US banks provide custodial lightning wallets .. on behest of government with proper KYC ! .. will it be wrong ? #askNostr

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Discussion

sudocarlos 1y ago

I would not use a KYC wallet for purchases. And I would avoid using a custodial wallet, too. A benefit of lightning is privacy, but when a custodian is involved, then the destination of your payments is known to the custodian. Same can be true for some self-custody wallets, so be aware.

Satosha 1y ago

But I use cashApp and Venmo all the time ..

A lightning wallet is lot better and lower fees .. isn't it ?

sudocarlos 1y ago

Everything in fiat is KYC and custodial and the app or banks will know who is sending money to whom.

I don't see the relevance to the point I made about privacy concerns with custodial lightning wallets though.

Satosha 1y ago

I do want a future where Bitcoin payments are like real cash .. no KYC , no tracking ..

But in reality , the society is getting cashless at a much faster clip than acceptance of Bitcoin as a medium of exchange .. that is a simple truth ..

Such being the case , fussing over custodial lightning wallets - which are like 1000 x better than a predatory credit card .. seems like 😕