chucklangstrumpf on Nostr: Interesting, i have used Phoenix, Muun and Breez as well as a couple of custodial ...
Interesting, i have used Phoenix, Muun and Breez as well as a couple of custodial wallets.
My experience with the self hosted ones is that it is a pain in the ass still to manage your channels and also the transaction fees were nowhere near a few sats. More aroud 0.3 / 0.5% of the transaction value. Often 30 to 50 cents, a couple times even a few dollars.
Only between custodial wallets i saw really low fees. Also not all the time.
In many cases the fees were higher than in the banking / card networks, mainly when you transact with other self hosted wallets or non mainstream LN nodes.
To me we are also not early anymore, it is 7 years since the split in 2017 and we still do not have a solution which allows easy self custodial usage for non techies. All i see is people using custodial wallets, which is just another type of bank to me.
LSPs are also kind of a trusted third party, at least you depend on them for a smoother experience. They will have to KYC you and adhere to AML laws over time and some already are.
Which upcoming developments in lightning are promising to you?
My experience with the self hosted ones is that it is a pain in the ass still to manage your channels and also the transaction fees were nowhere near a few sats. More aroud 0.3 / 0.5% of the transaction value. Often 30 to 50 cents, a couple times even a few dollars.
Only between custodial wallets i saw really low fees. Also not all the time.
In many cases the fees were higher than in the banking / card networks, mainly when you transact with other self hosted wallets or non mainstream LN nodes.
To me we are also not early anymore, it is 7 years since the split in 2017 and we still do not have a solution which allows easy self custodial usage for non techies. All i see is people using custodial wallets, which is just another type of bank to me.
LSPs are also kind of a trusted third party, at least you depend on them for a smoother experience. They will have to KYC you and adhere to AML laws over time and some already are.
Which upcoming developments in lightning are promising to you?