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Joe Nakamoto

Gm folks!

I have never had this problem with Phoenix because I think I have always had enough inbound liquidity.

(Is that right?)

Please could you help educate me and my friend on this:

Nathan Day 2y ago

He uses the word address (bitcoin address?). Is he splicing in/out on-chain? I.e. not using LN.

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Discussion

Joe Nakamoto 2y ago

I used to pay him on WoS now I want to pay him on Phoenix. Whenever he sends the invoice it shows a big fee for him.

I think that’s because he does not have any channels open with me yet, and he has no inbound liquidity.. so should I pay him a fat chunk now so we have a low environment in the future?

Nathan Day 2y ago

He'll always be charged an on-chain splice in fee if he has no spare inbound. If he's not spending via lightning he'll always be splicing in if he's receiving more than he sends.

Pheonix are working on buying capacity afaik.

Joe Nakamoto 2y ago

So it’s maybe better to stick to custodial?

Nathan Day 2y ago

Until you get rugged, yes. 😉

I use both.

Nathan Day 2y ago

Plus, Pheonix doesn't have p2p channels. Just a channel with them as LSP.