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13 sats \ 6 replies \ @ek 17 Jun 2023 \ on: Phoenix Wallet - Send to L1 possibility for adjustable fees? bitcoin
Afaik, ACINQ does not gather any fees from onchain txs. They all go to the miners.
The app has probably the best LN user experience I've tried, and I see they have fee settings for LN stuff. They should add a slider like there is in Electrum for the transactions going to Bitcoin layer
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I should add there's an option to connect to your own electrum server, where presumably you can set the sats/vByte
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You're still crafting the transaction in Phoenix, connecting to your own electrum server would just give you your own L1 info, no?
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When you go to the "Electrum Server" tab on the settings, it has a number of stats including some value for the sats/vByte. Presumably this is where the control could be added. I know from experience with my local electrum wallet you can set different fee rates.
Even if Phoenix wallet is crafting the transaction, it appears (stands to reason from menu, not sure) to be using the sats/vByte setting of the electrum server when creating the transaction. But that value is reported as a constant, untweakable value (in my case 42 sats/vByte)
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Interesting. There's also this in their FAQ: https://phoenix.acinq.co/faq#why-dont-you-let-me-set-the-feerate-myself-when-sending-on-chain
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Thanks for posting this. In that FAQ question they state
Note that there is no lock-in: you don't have to use our integrated swap-out service. You can use any third-party service, there are several, with varying degrees of trust and different fees.
I saw other stuff re: supplying your own Electrum server, it needs to be signed (not self-signed) but presumably this is how I'd get it done for cheaper? That's what they mean by using "any third party service?"
Also found this other thread from SN where the guy had the opposite problem from me lol:
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