Phoenix Wallet v2 is here!

Now you have even more reasons to never recommend Wallet of Rugtoshi again.

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Discussion

Can someone explain splicing to me

If you have to pay a mining fee to dynamically change the size of the channel every time does this not defeat the purpose of using lightning?

AFAIK it turns what was a 2 tx fee operation into a 1 tx fee operation.

Before you had to close the channel and then re-open it. Now you can just splice.

It’s a lot cheaper this way since you are able to have more control over the on-chain fees. You never see this in a custodial wallet because they obfuscate all the channel management, but what you’re paying for here is total self-custody.

Well said 🫡

Okay but Phoenix really needs to reconsider their deposit threshold for new users. This is lightning transaction for God's sake.

Isn't it 10k sats? So a few dollars?

Wait what happened with WoS?

What happened with them?

I’m now assuming they mean having and value on a noncustodial service. 😂

I think WOS is not a non-custodial wallet if that's what you're trying to say.

Indeed 😂☮️💜🫂

It's a custodial app that can rug all user funds at any time

Let’s talk about what these two wallets do differently. Wallet Of Satoshi versus Phoenix.

Isn’t splicing what Muun does?

#asknostr

Muun does submarine swaps which allow you to keep your funds at rest on-chain but still spend them over Lightning channels

Phoenix needs lightning addresses. Mutiny is interesting, but I need to play with the nostr stuff more.