Help.
#asknostr
I'm trying to use the drain wallet feature to get my funds out of Phoenix wallet and into my new Zeus wallet.
It says to enter a "Bitcoin" address and then hit " drain ".
Is that a normal BC1 address or is it a lightning address?
Discussion
Just pay invoice to yourself to transfer to Zeus, if you have enough inbound liquidity should be good. Drain is to close channel and move to L1.
I don't even know what inbound liquidity means.
If it means Sats in the wallet, no, how can that be when it's a new Zeus wallet?
Basically with lightning you need money to receive money. Not easy to understand.
So, it isn't really sending transactions. It's just swapping loans.
Not loans, but managing balances for later settlement. I saw an explainer using beads once.
Managing balances sounds like loans to me.
Kinda. Here's how I understand it. We each put $5 in a jar. I then buy something from you for say $3, but we say we'll just figure it out later. You buy something from me for $2, same. We decide to settle up and you take $6 from jar and I take $4. Take this and multiply by all the transactions and hook a bunch of jars together.
Contract is a better word. If you have 1m sats, you create a channel with that amount, which is basocally a contract between you and your peer that says "I have 1m and you have 0."
A LN transaction is a balance-update to the shared contract, using cryptography to ensure both sides agree atomically on what the lateat balances are
I used drain wallet and put in my Zeus BC1 address. I hope this works. There's no sign of the transaction in either Wallet.
I really hate this shit now.
Yeah, that should work. Lightning channel management isnt for the faint of heart. It sucks that pheonix is doing this because they are better that most.