I just helped a fellow student with an exercise in binary exploits.
He struggled for days and wanted to thank me by spending me a meal. I mentioned that this is similar to how we do bitcoin tips just in a bigger fashion. He said he could pay me in bitcoin or cardano but using bitcoin would probably cost too much. Then I asked if he has a lightning wallet and he said no.
How to best onboard new users without paying too much tx fees?
I know mempool cooled down since a few weeks ago but tx using 8sat/vB don't go through yet, for example (at least mine has not gone through for days).
How would you best onboard a new user to lightning right now?
Ask them to post good content on SN to earn sats? (Not sure if serious, haha. But maybe that's indeed a good idea)
I do this scenario for people that I know pretty well and they trust me, I onboard them first with a lndhub account on my private LN bank. °As I explained here
Will install Zeus or Bluewallet on their devices and just send them some sats to play around. Also if they are too stupid and lose the access to that first BTC/LN wallet, their funds are still in my hands and they do not lose them, so they anytime can come back to me asking to recover.
After that I teach them how to climb the ladder of self-custody with more apps. Important is that you show them how it works.
Exactly what I did today! Works like a charm, I prefer Zeus over BlueWallet, it works faster and UX is smoother imo.
Non-custodial route, but very easy would be for them to buy some sats on Strike, cashapp, etc and then just send you the sats via LN.
398 sats \ 0 replies \ @shibe 6 Jun
Option 1:
Hope hierarichal channels are implemented which would allow you to add participants to a channel off-chain. Or wait for eltoo
Option 2: If you have a Lightning channel, you could buy your friend inbound liquidity through some LSP like lnbig.com. But keep in mind lnbig (and other LSPs) seem to charge quite a bit these days because of high on-chain fees. Even a 100,000 sat channel costs $14, when a few months ago I got one with like 500,000 sats for around $3-4.
I would have recommended Phoenix, but to get a large channel you'd have to transfer a fair bit of funds to him first to open the channel, and then transfer it back I suppose
Well the best thing, would be to create something that doesn't exist lol. No one that I know of, between LSPs and Liquidity providers like LNBig does transaction batching. If you batch, the cost per user can be much much less and as a result compete with these higher paying transactions.
So you either need an LSP that says "Please wait a day for your order to complete" to allow for enough time for enough liquidity orders to come through to batch everything together, or a liquidity provider that does the same.
I think the future will be custodial for many people. Certainly for small amounts. Barring any major improvement to on-chain scalability, but that's beyond the scope of my expertise.
Having some sats on Liquid is useful as well now that you can swap from Liquid BTC to Lightning https://liquid.boltz.exchange/
have them buy bitcoin on an exchange with LN integration
this is probably the easiest. good answer.
Well, fees aren't that high when you look at it from a fiat mindset. 20sats/vb is about a dollar.
Custodial is cheap
Non custodial you'll need to pay a bit more
It depends how much you are sending. If you are sending 100 usd, then it is very expensive.