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Sid Shattuck
72f22deb08d9767c250aaab1979ebb46eaea08c86d9ac4c59e476f68545fa81a
Lightning network enjoyer Mentor at The Bitcoin Mentor

Also Blue Wallet come to think of it. Works nicely.

If you are talking about controlling your own LN node then Zeus is the only mobile option I'm familiar with.

Breez and Phoenix will let you connect to your Bitcoin node.

Mutiny you can self-host most of the stack but I don't think it's possible to connect to your Bitcoin node right now. I might be wrong about that.

Thank you!

Definitely going to add this in next update once the capability is a little more mature. I know the other wallets are working on this as well (Zeus is first to market).

Thanks Tony. I left the 40k off the chart since your team mentioned it will switch to dynamic soon. I'll continue to update over time as features roll out eg. LN addresses etc.

Is there a reason why the fee is 40,000, which is substantially above market? (clicking on "why" in the UI does not answer this).

What inbound liquidity allowance does the user get for the 40k? This is also not mentioned.

How long until you move to a dynamic fee?

Thanks.

Will add to next version! I feel like its slightly more technical than the other options but its a great wallet

Replying to Avatar Piriya ⚡🟧

Summarizing my thoughts on the Wallet of Satoshi incident today.

Wallet of Satoshi has been removed from App Store and Play Store in *some* regions, ie. in the US.

## Why shouldn't we be concerned?

Removal of app from appstore doesn't mean your funds are gone, WoS uses an account system so you can still log in to your account somewhere else, Android users also need not worry about auto updates deleting app, and can always install the app through other stores or even sideload using apk.

## Why should we be concerned?

What causes people to worry is not the inability to use the app, but what will happen to custodial lightning wallet providers like WoS.

Wallet of Satoshi is one of the largest Lightning service provider, a position only ousted by Alby in recent months, so it's (they're) an easy target(s).

Custodial Lightning wallets are easy to use, has many useful features like the ability to have a lighting address using lnurl and dns, but they are custodial. Unlicensed custodial services are illegal in many jurisdiction, and with recent legal actions against Binance, it feels like the walls are coming up around us and it's possible that 'those who do not play by the rules will need to pay the price' even if the rules are made by a bunch of frauds.

So there are risks involved, but it is unclear how this will play out and it could all be a nothingburger.

## What should we do if we're using WoS?

The good thing is, we have options, my recommendation right now is to at least temporarily move your sats to a non custodial wallet. If you are reading this then you probably not a routing node operator, so your best bets are the non custodial LN wallets. These include, but are not limited to,

- Phoenix wallet (and Eclaire if you're a masochist)

- Mutiny wallet

- Breez Wallet

- Blixt (ok this is as hard as Eclaire)

There are some options I haven't tried yet like Zeus.

But be aware that in order to use these non custodial wallet, you will need to open your own Lightning channel. Of course you'll still be using their node and liquidity services, but there will be fees associated with opening up a new channel which requires an on-chain transaction.

With the current ongoing attack on chain by the big blockers orditards the fees are pretty high, around 14-20k sats to open or modify a channel.

These wallet will open a channel with your initial deposit, so you'll want to have a large enough channel opened to receive all of your sats, this is done by sending all of your sats at once to avoid multiple fees, it can be quite scary, if you wanted to be safe, be prepared to pay the fees at least twice. All in all, just think it through carefully as the fees are quite expensive at the moment.

If all of this is still over your head, you can try moving your funds to another custodial wallet like Blink or Alby, but they also face the same risk.

I will try to keep you guys updated on the situation.

These days there are some great self-custodial Bitcoin Lightning wallets to choose from. Some even integrate an LSP so you don't have to manage your own channel liquidity.

Here is a simplified overview of the major players and how their fee arrangements differ.

As Bitcoin on-chain fees rise, you should have a basic understanding of where LSP costs are incurred so you can plan accordingly.

For example, funding your wallet will allow you to send, but if you are receiving lightning payments you will require inbound liquidity.

If you want to receive a payment on a new wallet, an on-chain transaction may be required on behalf of the user by the LSP in order to provide the necessary capacity.

In high Bitcoin fee environments this can sometimes result in unforeseen transaction fees. Be aware.

The devs are working hard and shipping improvements and new features all the time.

As these products develop I'll attempt to publish any relevant updates.

⚡️

Thanks for the response guys. I think the 40k threw me since that's quite high even in the elevated fee environment we have now.

Appreciate it's early days and that things will change, but it would be helpful to have all the different LN/on-chain fee mechanisms in your docs somewhere.

Love the product.

nostr:npub1mutnyacc9uc4t5mmxvpprwsauj5p2qxq95v4a9j0jxl8wnkfvuyque23vg is there a detailed breakdown of your LSP fees documented anywhere?

I've seen you mentioned on Twitter that there is a 40,000 sat fee for opening a channel, however I've just opened one myself and appear to have only been charged the mining fee (not complaining)

Could you also confirm if there is a fixed allowance for inbound liquidity, or what factors this depends on?

Thanks in advance.