Nostr Web Client

Buying small amounts of #Bitcoin and taking custody of it should be easy, fast, and cheap!

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Bank account to self custody lightning in under 60 seconds! ⚡🚀

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https://v.nostr.build/4wJ4.mp4

Fiat Shenanigans 🤡🌎 2y ago

UTXOs of less than 10 million sats will eventually be economically inconvenient to move on chain in the future.

UTXOs of less than 1 million sats are already becoming a bit expensive to move with the current fee environment.

I recommend stacking in a self custody lightning wallet like nostr:npub148qm45zettnf6ekgkatnyfadunxwjpu8sy88mjdsgwc5f202d93qmejra7 until you have a large balance. Then you can splice out to your cold storage address creating a large UTXO.

Watch how cheap and easy it can be to stack small buys 👇👀

nostr:nevent1qqsrxtrthnqh7tkwsxctx3utqyj6ruf7k5xglmqzv3nsquqgews9v6gpz3mhxue69uhhyetvv9ujuerpd46hxtnfdupzqrgxfq9scm3mu0y6rfja0e4uyzgjyl24hax80m4kqda6wamvxq8vqvzqqqqqqy2dxh6n

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Discussion

Nice and Kind Vic 2y ago

You do realize that growing your inbound requires many on chain fees as well right?

Fiat Shenanigans 🤡🌎 2y ago

You don't pay a miner fee when you withdraw from strike to Phoenix. Custodial lightning services handle channel management for you. If you pay attention to that video, it cost me 9 sats to make that transaction. You'll pay a single miner fee when you splice out to cold storage.

Nice and Kind Vic 2y ago

Buy 100000 sats on strike. send to Phoenix. Pay a fee for initial channel open through the LSP. Assume its batched for a lower fee.

Dont spend any

Tomorrow, DCA again, send to Phoenix. Phoenix may have opened with more liqudity on their side, so no fee.

Repeat every day for a month. At some point, all that liquidity moves to your side, and either another channel needs opened, or a splice. Either way, theres another fee.

Check your fee schedule and channel liqudity. Manage appropriately based on circumstances.

OT 2y ago

I think 1m sat UTXO's should be OK to hold well into the future.

Spending 100k per TX at an estimated 1000sat/vb average is 10% right? I think thats reasonable to pay for the security of bitcoin on chain.

Nice and Kind Vic 2y ago

1000 sat/vb is going to cost over 100000 sats so a bit higher than 10% but yeah its a chunk.

imho, 1000 sats/vb will be considered high fees, and normal will be around 250-300 sats/vb in the long run.

OT 2y ago

Its hard to know, but having a 10m sat UTXO is quite big. Remember whatever it is, it will cost the same for both.

Also CTV might bring a more stable fee environment.

Its all speculation, but I'm interested if anyone has done any studies into this

Fiat Shenanigans 🤡🌎 2y ago

In the future you're not going to spend on chain but from time to time you'll want to move a significant amount from your cold storage to whatever layer 2 solution we're all spending on. You'll want to do a large amount at a time to make it economical. Maybe a million sats. You definitely won't want to have UTXOs of less than a million sats sitting in your cold storage.

TK SuitCoin.exe 80HpW 2y ago

I think this is not economical feasible in any way. Value as it currently stands is completely construed (thanks shitty measuring stick US DOLLAR) at some point in the future things will have to reprice in sats.

10million sats is alot of value to say that base chain only 10mil UTXOs will be the only move able ones means btc is broken af and doesn't work.

3rd 4th layers will inevitably be the "moving" value layers of bitcoin in the future the idea that everyone will have access to base layer bitcoin is nonsensical and doesn't scale (with current technologies)