Today we are drastically reducing network fees for Liquid swaps - finally making ⚡micropayments via wallets like Aqua, Marina, Bull Bitcoin or Helm economically viable 🫰
Network fees drop from previously ~400 sats total to ~40 sats total🤯
Discussion
Is this some kind of taproot wizardry or has liquid protocol made a change?
The Klingon Empire gives you thanks 👀
Yes!
Great news
I started using Dave Ramsey's envelope system with L-BTC on Green wallet. This makes it even better.
What is this system?
I'm writing a blog about it, but it's based on this, except using Liquid BTC instead of USD.
https://www.ramseysolutions.com/budgeting/envelope-system-explained
Just listened to Mark and Whitney on TFTC, so I know many people will not agree with me, but I'm bullish on Liquid.
I started using different Liquid Wallets for budgets. It works like Dave Ramsey's envelope system, but with L-BTC and my phone instead of USD and envelopes made of dead trees and lickable glue.
Reduced fees make this system even better!
I don't use USD-T, but my bank started charging me $8.00 for my savings account. At 0.01% interest, we can expect Dave Ramsey's famous baby step one to go to zero in about 10 years.
This made me reevaluate the risk profile of savings accounts.
In the new world(🤡🌎), you're better off holding USD-T in a Green wallet with no interest than holding actual USD in a Bank of America savings account-- unless you keep enough fiat in the BofA to become a gold member or whatever. If you do that, your $10,000 loses $350 worth of buying power if you wear a mask in your car(by yourself) and believe the official CPI numbers. I don't make the rules.
I still prefer bitcoin to USD-T, but the more I think of it, fiat fuckery has now reached the point where banks are too risky for most people.
It's fair to say USD-T requires a trusted third party, but in the new world(🤡🌎), Tether is more trustworthy than BofA.
The sad truth is: USD-T became a better shitcoin than USD in a savings account. The FDIC is broke. USD-T is backed by debt issued by the insolvent US Treasury. It will not stop the USD inflation, but nor will BofA.
I know better savings accounts exist, but most people have less than $400 in savings and don't have time to find these tools.
Thanks! Love Boltz
🙌
Can I run a miner on the liquid network and get those tiny tiny fees? #asknostr
And this tells me your protocol is centralized, where network fees are not determined by math, consensus, or market, but rather by someone ("we") who can decide and act to reduce them. Good luck with that, sir!
Curious to know, too dumb to test, is the deterministic link broken when doing a swap ? Can you link it all together, or could it be used as a kind of coinjoin ? Thank you
Also, we tied together the changes that enabled this and released "Lowballing" - our latest backend release 😏
For the full run down check the release notes: https://github.com/BoltzExchange/boltz-backend/releases/tag/v3.6.0
nostr:note16f2k0us2t4xu7tu5huxm4mxn2c5ftz8tn9w8w2h0vswjpnlgq0mskx4a8n
Great news!
I have been using Boltz as a replacement to my Lightning apps for many Lighting invoices. Now, with the new network fees, I can use Boltz exclusively to pay all Lightning invoices.
No need to open and manage lightning channels.
No need to rely on custodial apps like Blink or Wallet of Satoshi.
Apps like Breez, Phoenix, or Mutiny make using lightning easier but you still have to open channels and risk forced closures. Plus you have the added fees. Phoenix charge 0.4% + 4 SATs to send a payment on lighting, 1% to add liquidity, 1,000 SATs for channel opening.
Boltz charges 0.1% to swap from Liquid to Lightning and 14 SATs for network fees.
Why would you use Phoenix, Breeze or Mutiny?
Keep your saving money on the Bitcoin network.
Keep your spending money on the Liquid network.
Pay lightning invoices with Boltz.