514 sats \ 7 replies \ @franzap 17 Apr 2023 \ on: Custodial Lightning is Great bitcoin
Onboarding normies is impossible without custodians. The tricky part is ensuring they move out when they reached have a certain amount of funds or knowledge
You likely need this only because we are too early and there are not so many interesting things around to pay with bitcoins so the friction doesn't worth spending time, buying and getting bitcoins non-custodially for non-trivial amount.
There are stories from big European funds when people want to get out of custody their exchange-traded regulated bitcoins. So I think life is richer than experience of most of the people here.
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Agree. There's a wide range of custodians (size of custodian, amount of funds, period of fund holding), so different treatment applies. Stacker News is not the same kind of custodian as a bank
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I think the real trouble, at least for me, isn't the on-boarding part as much as it is the expense of a non-custodial lightning wallet. I live paycheck to paycheck right now, and I'm more than just a little embarrassed to say I can't afford to lock up $100-200 to open a lightning channel so I can transact on my node. The node itself is easy enough, a RaspiBlitz, but even that was an expense. It's a little pathetic, I know, but I hope I will be able to open a channel or two back up at the end of the summer.
That's a situation I'm sure that a huge section of the population is also in.
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Heads up. Consider cheaper but good options like Jade.
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What's Jade?
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A wallet by Blockstream and a miner (that was for fun).
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That's a good point. Similar to buying a HWW to keep 2000 sats
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