How many sats do you store on your lightning wallet?
1710 sats \ 25 comments \ @030e0dca83 21 Nov 2023 bitcoin
Every true bitcoiner knows - stack of sats should be holded on a cold wallet you have the private key of. This is true because “not your keys, not your bitcoins”. On the other hand we have the Lightning network for everyday use and some of sats are living there.
I'm from the county where there's no chance to buy something with Bitcoin, we're still early here. As I mentioned before on this post, I store 300+k sats to orange pill my family and friends, plus I stacked here on stackerNews 7k sats. My bad I use custodial wallet however I decided I'm ready for this risk atm. So, my daily use of Lightning network consists of tipping great post on stackerNews and tipping my friends’ wallets if they are ready to try an orange pill.
Here comes the question. What the part of your stack or how much sats do you store on your lightning wallet? And how do you use it?
write
preview
related posts
31 sats \ 5 replies \ @DarthCoin 21 Nov 2023
My main focus is to organize my stash on the 3 levels: HODL, cache, spending (think like a bank)
From there I use this strategy:
  • multiple onchain wallets, with multiple UTXOs, with various amounts.
  • never keep just one giant UTXO with all your BTC in it. Split it in small pieces, but not so small. Enough to be able to open regular good LN channels.
  • 1-5M sats UTXO for opening LN channels on mobile private nodes
  • I use multiple LN mobile wallets, each one with a specific amount, ready anytime to pay. Why multiple? Because you never know when one could fail. As I explained here, about the "art of chosing the right wallet". See here a comparison guide of all types of LN wallets
  • 10-20-50-100M sats for opening LN channels on public nodes (if you run a public routing node).
  • make a good coin control and funds management on 3 levels, before you are moving to your cold storage.
  • if an onchain wallet get too many UTXOs, split them into another wallets. Is not so handy to have too many UTXOs in just one wallet and you are killing the node and the app opening it.
I will repeat this over and over:
reply
1005 sats \ 4 replies \ @030e0dca83 OP 21 Nov 2023
10m sats? I can't even dream about it
reply
1 sat \ 1 reply \ @Bullen 21 Nov 2023
Now you're a bit closer 😉
reply
100 sats \ 0 replies \ @030e0dca83 OP 21 Nov 2023
Thanks for this generously tips. I'm just dreaming about millions and come closer to it, next generations won't have a chance to grab so much
reply
1 sat \ 1 reply \ @DarthCoin 21 Nov 2023
That's for a PUBLIC routing node, not for a private one. Pay attention to what I said.
https://darthcoin.substack.com/p/private-lightning-nodes
reply
0 sats \ 0 replies \ @030e0dca83 OP 21 Nov 2023
Whatever. It's just a dream to stack so much
Take my congratulations if you have so overwhelmed stack
reply
22 sats \ 3 replies \ @southside263 21 Nov 2023
~80,000 sats ($50)
whatever you would feel comfy holding physical cash in your pocket/purse
TL;DR spending = nostr zapping / streaming sats/boosts to podcasts on fountain.fm
not many shops on btcmap.org in my hood yet😂
reply
10 sats \ 2 replies \ @030e0dca83 OP 21 Nov 2023
I still can't start to use nostr.
As you mentioned, yes there's no local place to spend sats, and at some point it's great, I HODL it for better times
reply
1 sat \ 1 reply \ @southside263 21 Nov 2023
nostr is fun like stacker news.
spend and replace bitcoin (wen on chain is low )🤙🏽
sats the standard⚡️
reply
0 sats \ 0 replies \ @030e0dca83 OP 21 Nov 2023
I don't like the idea about storing private keys in browser to conveniently use nostr
reply
1 sat \ 1 reply \ @cryotosensei 22 Nov 2023
Usually about 20k sats. I have a system in which I will buy a grocery gift card from Bitrefill whenever I accumulate 22-23k sats. Then, my balance drops to zero, and I will get motivated to raise it to 20k sats again. Replace what I spend!
reply
10 sats \ 0 replies \ @030e0dca83 OP 22 Nov 2023
Sounds like cash back on my credit card
reply
1 sat \ 1 reply \ @brianh 22 Nov 2023
i keep around ~$200, mostly use it to buy gift cards on Bitrefill. Occasionally I'll find a place that accepts Lightning and shop directly. Any larger amounts I'll only transact from cold storage
reply
0 sats \ 0 replies \ @030e0dca83 OP 22 Nov 2023
As I noticed, most of people answered in replies store less than 1m sats on lightning. And only when you become node operator you dive deeper
reply
1 sat \ 1 reply \ @fiatdenier 21 Nov 2023
None of your business
reply
30 sats \ 0 replies \ @030e0dca83 OP 21 Nov 2023
Now you have 1 sat more. Have a nice day
reply
1 sat \ 1 reply \ @Bullen 21 Nov 2023
My phone is worth $1k, so approximately that amount in a ln wallet on the device wouldn't be too weird.
However since I rarely can spend on a day-to-day basis I keep around 200k sats in my main ln wallet. The rest goes to cold storage.
reply
0 sats \ 0 replies \ @030e0dca83 OP 21 Nov 2023
When I purchased my phone it was around 800k sats, store accepted only local currency and dollars
reply
1 sat \ 6 replies \ @fm 21 Nov 2023
just the lunch money.. sats are not yours if you have a basic set up.. So, why risk?
reply
0 sats \ 5 replies \ @030e0dca83 OP 21 Nov 2023
That's right. In my plans setup my own nodez especially when Bitcoin be legalized for everyday use
reply
1 sat \ 4 replies \ @DarthCoin 21 Nov 2023
when Bitcoin be legalized for everyday use
LOL Bitcoin do not need anything like that. Bitcoin it just exist and is used.
reply
1 sat \ 3 replies \ @030e0dca83 OP 21 Nov 2023
You're right. But grocery store next to refuse to accept Bitcoin they even if heard about it think it's something criminal
reply
1 sat \ 0 replies \ @DarthCoin 21 Nov 2023
Here, example how people are using BTC/LN in the middle of nowhere, without ANYBODY'S permission:
Don't say to me that is not possible...
reply
1 sat \ 1 reply \ @DarthCoin 21 Nov 2023
It's all UP TO YOU to convince and educate them. Read and learn:
reply
0 sats \ 0 replies \ @030e0dca83 OP 21 Nov 2023
Thanks for this educational materials. One day every grocery store will accept our magic internet money
reply