Muun experiences issues as chain fees rise \ stacker news ~bitcoin

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Muun experiences issues as chain fees rise twitter.com/MuunWallet/status/1655421468673441792

1487 sats \ 15 comments \ @k00b 8 May 2023 bitcoin

1043 sats \ 0 replies \ @TonyGiorgio 8 May 2023

"We are experiencing systematic issues when users receive lightning payments due to the fact that Muun is NOT a lightning wallet and we've gone through great lengths to conceal the fact that every payment or receive is two on chain transactions.

We brought this on ourselves and this will not be fixed"

Fixed it for them.

521 sats \ 0 replies \ @siggy47 8 May 2023

No one here will be surprised to hear that. What the hell are fees looking like? If I'm not mistaken, actual fees paid is not very transparent for the average user, but I could be wrong. I don't use the wallet.

276 sats \ 0 replies \ @nerd2ninja 8 May 2023

Me when muun wallet is still a thing

https://media.tenor.com/CT8uDkMXPjwAAAAC/hot-fuzz.gif

597 sats \ 2 replies \ @downtownjj 8 May 2023

as a non technical person, muun is probably the most reliable lightning wallet(more reliable than phoenix or breeze but slightly higher fees)... its the one ive used to most for 'orange pilling'... ie to get people from 0-25000 sats in less than 2 minutes.

275 sats \ 1 reply \ @DarthCoin 8 May 2023

Have fun getting fucked by Muun...

10 sats \ 0 replies \ @downtownjj 8 May 2023

i just use it for small transactions and orange pilling. im not getting fucked by anybody, except your mom.

258 sats \ 2 replies \ @byzantine 8 May 2023

munn is a fantastic swap service

big lightning transaction in --> onchain out

0 sats \ 0 replies \ @SpaceHodler 8 May 2023

But you pay dearly for the former, no?

0 sats \ 0 replies \ @iguano 8 May 2023

in both ways

197 sats \ 0 replies \ @LouisLoyaX 8 May 2023

They should be running those automatic submarine swaps in Liquid.

Their model doesn’t work on L1 with high fees.

How?

Muun hosts the Lightning Wallet but it credits you on Liquid on every transfer ( automatic submarine swaps ) minus fees ofc.
No need to do peg-ins-outs on every transaction. They just need to have a mirrored amount of liquidity on each network and rebalance occasionally.

54 sats \ 1 reply \ @At 8 May 2023

I don't understand why anyone would use muun as a wallet, only to transfere between ln and chain.

54 sats \ 0 replies \ @btcthinker 8 May 2023

Because users mistakenly think this is a convenience. In fact, most users do not need this function. Separate processing of lightning and on-chain can usually save more fees.