pull down to refresh
102 sats \ 4 replies \ @DarthCoin 5 Nov \ parent \ on: Arké Wallet: Ark wallet using second.tech implementation - Christoph Ono Design
No. Take example of how Blixt, Zeus is doing and also Shockwallet. You can have a JiT channel (just in time). The LSP is taking care of opening the channel. And these are the 0-conf channels we were talking about.
And this procedure can be tuned even more to make the newbies experience even smoother.
but if you are only receiving a small amount (say less than 100 sats), what channel can possibly work for you? It doesn't matter if it's jit or 0-conf. A channel isn't a channel if it's not big enough to cover fees, right? (Possible, too, that I totally misunderstand how this works)
reply
That depends of the LSP.
For example Blixt is opening from start a max 400k sats channel.
The interesting part will come when LND will support splicing too. As I said, we are barely scratching the surface of LN, many new things are expected to come soon.
But the cost of liquidity will always be an issue. Because LN is also an economic flow of capital.
And that's why LN will always be THE payment network of Bitcoin.
reply
but aren't those different use cases than I'm talking about?
I'm interested in the newbie who wants to receive a few sats fast. For instance, if they were on nostr or here on SN and I want to zap them.
I agree that custodial is the easiest and smoothest way to do this.
But there is still a lot of friction in the move from custodial to their own channel. Zeus does a great job, but somehow the user still is going to have to deal with a fee when the channel is set up, and then more fees if they push their liquidity all the way to one side of the channel and they may want to know why they are paying it and then it really gets confusing fast.
I'm curious if Ark makes that experience better. First small receive is not self-sovereign. You can't get to the chain with just a few sats. But I'm not yet convinced that the centralization trade-offs ark makes are absolutely worthless.
reply
I think the biggest mistake many people do is that consider LN as to be an offchain of Bitcoin mainchain. And that is where many fail to understand that behind all those LN channels and liquidity there's a huge incentive to move CAPITAL not sats, as units.
And moving capital have a cost. Cost in fees and another cost in knowledge of how to move it efficiently.
Is this actually hard for newbies? Totally yes. But in the future will be much easier. People must learn, otherwise will get dumber and dumber. making things easier for newbies, it doesn't mean that we doing it better. Bitcoin must be a selection: those who do not want to learn, will use custodials, those are smarter, will use self-custodial.
reply