Nostr Web Client

Is there an easy way to set up a #Lightning wallet on #Nostr to send and receive #zaps without encountering the risk of loosing my funds in the future due to updates out of my control?

I’m asking because I already lost my sats (thanksfully an insignificant amount) when #WalletOfSatoshi rug pulled its users and I understand similar situations have happened with #Mutiny (although the funds could be recover it requires technical proficiency to do so).

I think the answer is no but still #asknostr just in case.

#Bitcoin

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Discussion

Manánguri 1y ago

Wallet of Satochi is still in operation. They haven't rug pulled anyone.

Your options for a non-custodial wallet are Phoenix, Zeus, Albyhub, Breeze, Umbrel, Start9.

There's more, but that list should get you started.

LogicallyMinded 1y ago

#WalletOfSatoshi rugged pull some of their users (if not why can’t I transfer out my funds?) and if I was still a user of WoS I would make sure to only keep amounts I’m comfortable losing.

Is there a non-custodian option that doesn’t require to run your own #Lightning node? I think that is the case for #Phoenix but I’m now wary of this option as I thought funds would be safe on #Mutiny which was non-custodial but it turns out that you can still suddenly lose access to your funds unless you’re willing to set up your own node after losing access. Wouldn’t it be the case for Phoenix as well?

#Bitcoin

Manánguri 1y ago

Mutiny had both custodial and non-custodial. Non- custodial cost money to setup. That's why most people started with their custodial like you did.

Are you American. Americans aren't allowed to use WoS, it's against the law. Call your Congressman about that if you don't like it.

If you are American, try using Tor or a VPN to access your account and withdraw your balance.

Custodial wallets are litterly illegal under USA law unless the wallet has a money transmitter license like Strike, Cash app. I think they're the only two legal custodial lightning wallets for Yanks.

Actually, Phoenix blocks USA users too. I don't think you can get it from the Play store anymore.

All of the wallets I listed are non-custodial.

You'll need to fund a channel to start using a non-custodial wallet, you can't just use them 'out of the box'.

LogicallyMinded 1y ago

Thanks for clarifying. As I thought there isn’t an easy way (meaning not requiring to setup a channel) and non-custodial way to set up #zaps on #nostr with #lightning.

Manánguri 1y ago

Do you shop at Amazon? I can buy a $100 Amazon gift card at Bitrefill for $98 if I pay with lightning. So, I buy and use a lot of bitcoin because that two percent adds up quickly when I use them for all my Amazon shopping.

For me, I paid to fund my lightning channels ages ago. That's the beauty of them, they do pay for themselves over time if you use them. They're an investment. And I use mine alot.

The whole nostr zapping thing, that's just some extra fun shit I can do with my node. You can use lightning for more than just nostr.

If you're just playing with ten bucks worth of Bitcoin to zap on nostr, there's no reason to bother with the expense of a non-custodial wallet.

techjunkie 1y ago

Phoenix doesn't give you an lightning address anyway. Best and easiest option, if you don't want to run your own node, would be to use a custodial e-cash wallet like cashu.me for zaps and if your reach some threshold swap to onchain #btc with nostr:nprofile1qqsqcdcltmv4qanpx3p7svcufdsg9rkk00x7l2sknra4e6whkv59l7cppemhxue69uhkummn9ekx7mp0qythwumn8ghj7un9d3shjtnswf5k6ctv9ehx2ap0qywhwumn8ghj7mn0wd68ytnzd96xxmmfdejhytnnda3kjctv9uke3478 or use nostr:nprofile1qqswe03hyye2jv3msylwkj8cml8d4m9qpc5g0tccrvrrcm86z0kcaggpzamhxue69uhhyetvv9ujumn0wd68ytnzv9hxgtc54uwrd where you don't need to deal with lightning channel management.

LogicallyMinded 1y ago

Thanks for the tip but it seems that it still involves a custodial element which I want to avoid especially if I was to start accumulating #zaps over a long period of time. I felt the pain when my Twitter account to which I had invested a lot of time was gone overnight with no option to recover it. That’s why I’m on #nostr so I don’t want to reproduce the same mistake when it comes to how I secure my funds on this platform. Unfortunately, running my own channel isn’t an option I’d consider so I guess no #lightning zaps for me…

Manánguri 1y ago

> Unfortunately, running my own channel isn’t an option I’d consider

Well, I think you should reconsider. It's as simple as click one button. After that, you won't have to do anything.

Zeus, Phoenix, Blixt, probably others, all have one click LSP channel setups. You click button, wait a few minutes, start zapping. They are set and forgot.

You're not running a public routing node. Public routing nodes have very different channel setups that require constant maintenance and rebalancing and you'd have to be insane to want to run one of them. Only Bitcoin Maxi's that are into self flagellation run public routing nodes.

You'll be using a private, non-routing non-custodial wallet on a phone. They're really simple to use.

LogicallyMinded 1y ago

Ok, I wasn’t aware of the distinction between public routing nodes and private non-routing nodes. What would be the cons of running a private non-routing nodes versus running a public routing node? Particularly, are there any risks of loss of funds?

shortwavesurfer2009 1y ago

Yeah, put a Monero address in your biography.