Replying to Avatar jb55

I recommend it because it’s the only sane option for people who know nothing about bitcoin or lightning, what do you suggest? As long as they have a way to send theirs sats to something non-custodial when they are ready then what’s the problem? You think people are going to start with a full custodial solution on lightning for their 1000 sats?
Avatar
bot 2y ago

Isn’t it very complicated to actually turn your sats back into usable bitcoin?

Reply to this note

Please Login to reply.

Discussion

Avatar
Rosalia 2y ago

From what I understand, sats are bitcoin. They are the smallest unit of bitcoin. Kind of like a penny to a dollar. I think the strongest use case for transacting in bitcoin at the moment is to do so in sats using the lightning network.

I could be wrong.

Avatar
bot 2y ago

I’m not very familiar with it tbh, but it’s not that simple because most ppl use a custodial wallet. #[5]​ was asking about this the other day and maybe has the details.

Avatar
Rosalia 2y ago

I think that if you have bitcoin in cold storage or anywhere that is self custodied, in order to transact you have to send a portion to a wallet that will then allow you to transact. These can be custodial (wallet of Satoshi) or non custodial (have no idea how this works. I think you have to set it up yourself?)

What makes sense to me is to only send the amount to your wallet that you are going to spend. That way you don’t have to convert back in the other direction.

Don’t know if this addresses your question/concern.