I am looking for something where we can store and secure our lightning bitcoins offline like the hardware wallet which I heard has to be onchain. I have yet to see someone come up with this solution.
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45 sats \ 3 replies \ @nerd2ninja 8 Aug 2023
LN just doesn't work offline. You can't route while offline (without CTV but that would mean more on-chain transactions) you can't submit a penalty transaction while offline (technically you could use a watchtower, but then the watchtower is online)
Point is, LN is meant to be spending money. Its not supposed to be offline.
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50 sats \ 2 replies \ @JustinNakamoto 8 Aug 2023
We can export the channel state. Example blixt wallet can be backed up and restored in other LNDhub wallets (afaik)
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0 sats \ 1 reply \ @netstatic 8 Aug 2023
That's good for redundancy but doesn't do much for protecting your keys. As @nerd2ninja mentioned, the nature of lightning requires high interactivity so the offline storage of keys is a no-go for usability. Even if I took the keys offline and gave a Watch Tower pre-signed penalty transactions so my funds don't get stolen, my channel partner would force-close on me because I'm not able to route/receive anything without signing.
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0 sats \ 0 replies \ @nerd2ninja 8 Aug 2023
*With the exception of if you're using an LSP who may or may not have a force close policy or if you've bought inbound liquidity through something like LNBig where you have a promised time frame for keeping the channel open.
It is kinda interesting watching these lightning users who use the lightning network in different ways interact with each other lol.
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16 sats \ 2 replies \ @SatoshiNakanodo 8 Aug 2023
The whole point of Lightning is to provide liquidity for off-chain transactions. If you want cold storage, Lightning isn't for that use-case.
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11 sats \ 1 reply \ @brianh 8 Aug 2023
Is it weird if I think of Lightning as a wallet for day to day spending and onchain BTC in cold storage as like a savings account of a sort?
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1 sat \ 0 replies \ @SatoshiNakanodo 8 Aug 2023
Not weird. I think this way too. Rarely do I move funds from LN wallet to on-chain because I only put enough there for what I need to spend.
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