For a spending wallet, fund the wallet with a single largeish (it is a hot wallet, don't get crazy) on-chain tx. Spend that balance down and refill from lightning.
For receiving, still fund with a single large initial tx. Push the sats out of your channel through lightning and repeat when the channel starts to get full.
Phoenix is best in class. They launched the first mobile lightning wallet and have not stopped building. Their sole focus is mobile lightning payments.
In Atlanta's heart, where brick and history blend,
A haven lies, 'midst urban lore and light,
The ATL BitLab, where minds extend,
In code and dreams, they labor day and night.
Within this olden warehouse, walls of brick,
The echoes of the past meet future's gaze,
Where nerds, in hackathon's fervor, click,
In Bitcoin's dance, their screens ablaze.
Through courtyard-turned-parking lot, one finds,
This realm where digital currencies reign,
Where every traveler of like minds,
Is welcomed, and their knowledge is their gain.
Above, the rooftop deck, 'neath sky so grand,
A vista for the dreamers, hand in hand.
Here parties, like no other, come to life,
With music, laughter, tales of Bitcoin lore,
In this unique coworking space, so rife,
With innovation, ideas, and much more.
So venture through these storied, hallowed halls,
Where Bitcoin's pulse in every corner beats,
At ATL BitLab, adventure calls,
In every byte and line, where passion meets.
A sanctuary for those who dare to dream,
In blockchain's weave, their aspirations seam.
In Atlanta's embrace, they find their place,
At BitLab, where the future they embrace.
Here we have a delightful sugar shack full of holiday treats to keep children of all ages happy. Ornate designs of gumdrops, marshmallows and sprinkles adorn the roof, calling to Santa and his reindeer to visit with a sack full of gifts and a sleigh full of cheer.
Freeze dried peppermints, candy holly bushes, and coconut snowflakes delight guests as they wander the grounds of this delicious wonderland.
Enjoy a cup of hot cocoa and a a rousing round of caroling with your closest friends and family at this gingerbread getaway in a wintry paradise!
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The Last Outpost of the Living
This humble gingerbread shack serves as a watchpost for the armies of mortals. It sits on the bank of the river of blood that serves as the de facto border with the demon realm.
To the right you can see the chaos gems that protect the outpost. These crystals project a dark magic force field that repels the steady advance of demonic energies from across the river. But it is a devil's bargain because the chaos gems also break down the fabric of reality, sowing all sorts of havoc and slowly eating away at the sanity of all beings in their vicinity. Best not stay too long at the outpost or you might permanently lose your grip on reality.
To the left of the outpost you can see the sacrificial altar surrounded by blood and entrails. This altar is used to appease the greater demon lords and princes who could easily raze this outpost to the ground. Staying in their favor is crucial to the survival of the mortal realm. Few who have never visited the outpost understand the importance of the sacrifices. They vociferously condemn the practice and hasten their own doom. Flowers bloom readily in between the entrails. It turns out blood sacrifices make pretty good fertilizer.
Behind the outpost, an array of sharpened spikes on a berm ward off lesser demons. When one strays too close the outpost defenders will decapitate it and mount it's head on a pike as a warning to the rest.
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The loneliest block template provider 😆
One problem that people face is that they box themselves into narrative corners and echo chambers.
"Not your keys not your coins" is a good one-sentence explainer to tell people to be careful about custodians, especially in such a nascent industry. It's powerful and memorable. Couldn't be said better.
But then some people take that to mean nobody should ever use any custodial service under any circumstances ever. You got $200 in a custodial Lightning app because it's faster and easier than alternatives? You've failed the purity test. You're in a developing country and want to save $100 worth of bitcoin? Better do it on-chain, otherwise it's not yours!
But then some of the same people resist a block size increase to keep the network decentralized (a good thing, imo) and also say that bitcoin will fix the world (I think it can).
But while all reasonable statements on their own, the issue is that statements 1, 2, and 3 don't add up when taken to their extreme. It has been written about since the time of Nakamoto and Finney on Bitcoin Talk forums that Bitcoin would need to scale in layers.
https://bitcointalk.org/index.php?topic=2500.msg34211#msg34211
So any statement about "Not your keys not your coins" has to be paired with an alternative solution, or a spectrum of alternatives. What if someone can't fit into the one of the only tens of millions of on-chain transactions per month? What if $35 fees is high for the $200 in bitcoin they want to save?
Is holding your bitcoin on an 11-of-15 multisig (Liquid) okay, in exchange for lower fees, faster block times, better privacy, and some additional features? Depending on the amount, I would say yes. It has trade-offs, though, which have to be made clear.
What about a Chaumian mint? What if an app lets a community in South Africa set up a 5-of-9 multisig run by well-known people in the community who would face consequences if they break trust? And the same app can let a smaller community in Guatemala set up a 4-of-7 multisig? And a bigger multi-country 6-of-11 multisig can be set up as well? It's private, interacts with Lightning as seamlessly as Wallet of Satoshi, and can make in-person payments even when the internet is out briefly. Plus, it can be customized via open source add-on modules by the community running the specific mint so that it can also store private data for users, monitor reserves, monitor health of the multisig keys, run applications like Chat GPT payable in bitcoin per usage, run private DMs and group chats, run apps that show you local merchants that accept bitcoin, etc. And what if a user could, within the same app, seamlessly spread their funds out among a handful of different mints that they know pretty well to avoid having all of their eggs in one basket, and then pull into self-custody when above a certain amount?
Maybe there will be more softforks in the future. More flexible scripting to allow more share-ability of UTXOs, for example. But those require consensus, and they tend to come with some trade-offs or code risks, and so they take time.
Bitcoin is an engineering marvel. But it's not magic. It has limitations, and it has a spectrum of solutions for those limitations at any given time. The best solutions solve multiple problems at once: they add scalability, they add speed, they reduce fees, they add privacy, and they add flexibility/programmability all at once, while still being more distributed than trusting some centralized KYC entity.
Bitcoin is peer-to-peer open source money. But it's not infinitely scalable on the base chain. If it were greatly scaled up on the base chain to fit everyone, then only institutions would be able to run nodes and it would be greatly centralized and thus useless. So the solution, known from the start of the Bitcoin Talk forums, is to build additional peer-to-peer open source layers on top of it, allowing for a range of transaction sizes, a range of speeds, a range of privacy, and a range of programmability, all to serve different users' needs, and without compromising the decentralization and security of the base chain. That's the type of statement that needs to be provided along with "not your keys not your coins" for the full context to make sense.
Proud financial redneck checking in.
Sometimes my kids call me out for swearing. When this happens I tell them it's fine because I am an adult so I can say whatever the fuck I want.
I appreciate that but I don't trade ordinals. 🧡
I miss the satogram spam.
GM Bryan. Happy weekend! ☕
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GM and happy weekend!
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This holiday season I gave all my closest family members a viral infection. Pretty sure it was a regift.
wow, seriously gpg? SRSLY??? smdh
not really shocking. ledger is a disaster