Lightning or on chain?
You might be right. They've collected a few thousand sats in fees from me since May. If my usage goes up they'll be taking them in with their monopoly on routing for me.
It's a private channel, so there's no routing. The way it works is the Phoenix app runs a node that connects only to the ACINQ node. You send them an on-chain transaction and they take it and open a channel to your app node for a larger amount and push the amout you sent to your side. That is the only channel you'll have, but you can splice in more sats if you need it using the same process.
All payments route through them and they handle all the lightning management stuff, but they also have a monopoly over all your transactions and can dictate whatever fees they want. Currently it's 0.4% plus 4 sats base fee so it's too expensive for zapping imo.
I guess for now it makes sense, but I bet they'll have some policy about it in the future. I can't imagine it's sustainable to provide an extra 75% liquidity on every channel.
I have about 4m sats in #Phoenix and they gave me 3m additional incoming liquidity. The truth is I hardly use it though, and I have to wonder how they feel about having that liquidity tied up in an unproductive way.
I had to look them up, but I'd go with consequentialism. Also virtue ethics looks like it's just a hybrid of the other two?
Smash your hardware wallet and destroy your seed phrase. Rugpulled!
I was using it pretty much only for nostr and zapping. I have Phoenix for other stuff, but the fees are too high for zaps.
Zeus and Mutiny seem like they're still in development and I'm waiting for them to get more polished and professional. Although I haven't really tested them, maybe they are ready for primetime, however the "fued" they had recently didn't instill much confidence.
I will never use Muun because I think the way they do lightning is wrong and unsustainable.
They pulled the app from US app stores. They did not say exactly why. Probably fear of the state coming after them.
Activating #onlylikes mode for now.
I hadn't t seen the other news when I made the comment.
I hope they don't rugpull me for my $2.
Send me one dollar please.
They are cool looking, but the heat required from the incandescent bulb will suck up a lot of electricity.
Fresh beer ftw #beerstr
