pull down to refresh

34 sats \ 6 replies \ @Solomonsatoshi 4 Oct \ on: The new Alby! bitcoin
Albys fees are too expensive...approaching usury.
The video is pure hollow man corporate yuck puffery.
Alby are clipping the ticket significantly on each and every transaction.
Slick Narrative Driving Rentseeking Parasites.
I prefer and recommend Coinos.
write
preview
0 sats \ 1 reply \ @OT 4 Oct
Albyhub is just an interface for running your own LN node. Under this setup you set the fee yourself.
reply
0 sats \ 0 replies \ @saunter 4 Oct
It also has a standalone LDK version, so no full blockchain node needed, and that is used for the cloud
reply
0 sats \ 3 replies \ @saunter 4 Oct
Alby has 0 added transaction fees, unlike other lightning self-custodial wallets.
reply
0 sats \ 2 replies \ @Solomonsatoshi 4 Oct
Alby Cloud which Alby describes as 'Best for most users seeking convenience and reliable hosting' costs $12.90/month. Is Alby Cloud even truly self custodial? Using it you are definitely dependent upon Alby and its cloud services and paying over $150/year in fees.
Coinos which provides equally convenient access to and use of LN costs nothing /month/year. There is no subscription fee. And routing fees are very low, often zero.
If you have the considerable skill and time required to run your own node and channels etc self hosting Alby might be ok, but then do you really need Alby at all if you have that level of technical skill?
reply
12 sats \ 1 reply \ @saunter 4 Oct
Even if Alby Cloud stops operating, you still can recover your funds. You cannot say the same about Coinos.
I agree Coinos is better for beginners and low volume users. Alby Hub is better suited for users who want self-custody and use bitcoin a lot.
reply
0 sats \ 0 replies \ @Solomonsatoshi 5 Oct
I would never keep more than a small amount in a LN wallet anyway so coinos suits me and saves me in time and fees. Albys fees for the Cloud option are guaranteed to cost you hundreds of dollars over time. For those who want self custody Alby is an option though not sure it would be the best one.
reply