pull down to refresh

0 sats \ 1 reply \ @KingZing 21 Jun 2022 \ on: StandardSats SBW -- LN wallet with Fiat-denominated custodial channels -- now available on Google Play bitcoin
Does this mean the channel will auto manage the sats to keep the same fiat value? How long can this keep going for? And how can they do this if bitcoin drops 25% in a day or so?
write
preview
0 sats \ 0 replies \ @notgeld OP 21 Jun 2022
Does this mean the channel will auto manage the sats to keep the same fiat value?
Yes. If bitcoin drops the channel needs more sats to construct valid payment when user spends.
How long can this keep going for?
Until channel closes or user withdraws all funds.
And how can they do this if bitcoin drops 25% in a day or so?
We do this in according to protocol. Host overrides channel state and client accepts it since it increases sats balance on his side. Then the client can send payments up to channel capacity (in asset values). If price increases, then there is enough sats to make payments and there is only asset price in channel states that has to be adjusted.
reply