Non-Custodial Bitcoin for my kids: What are my options? \ stacker news ~lightning

Non-Custodial Bitcoin for my kids: What are my options?

116 sats \ 10 comments \ @ryenski 17 Jan lightning

We all probably agree that custodial wallets suck, but I'm struggling to find a self-custodial solution to send micropayments to my kids (a few thousand sats).

Gone are the days when it was economical to send a few thousand sats on-chain. Paying my kid 5000 sats into his cold storage for picking up the dog poop isn't really an option. (Not to mention that would be a nightmare for UTXO management.)

My original plan was to set up LNBank on my BTCPay server. But then LNBank got rugged.

The best solution I've found so far has been to set up a Phoenix Wallet in separate profiles on my Graphene phone. I can pay them for their chores, and then periodically sweep the balance into their cold storage.

This is working tolerably well, but I've had to eat big fees to open their channels, and then I have to eat more fees every time their channel needs more liquidity.

So, for those of you who have kids, how are you paying your kids with Bitcoin?

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100 sats \ 1 reply \ @deletedd 17 Jan

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0 sats \ 0 replies \ @ryenski OP 17 Jan

This would be amazing.

0 sats \ 5 replies \ @OT 17 Jan

Even though its not idea, some kind of custodial LN is best until they have a large enough amount to hold in cold storage. Maybe even some kind of ecash.

It could even be a number in a number on a spread sheet. Whenever they want to spend, you just pay out if your LN wallet. Whenever they want to move to cold storage you can do the same. Its coming out of your stack anyway right?

0 sats \ 4 replies \ @ryenski OP 17 Jan

I thought about doing a spreadsheet, but I want it to feel "real" to them, like it's their own account.

I'm open to using a custodial LN wallet. What are the best options?

0 sats \ 0 replies \ @OT 18 Jan

coinos.io

0 sats \ 2 replies \ @deletedd 17 Jan

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0 sats \ 1 reply \ @ryenski OP 17 Jan

Unfortunately WoS is no longer available under totalitarian regimes.

I tried Blink a while back and it was buggy. Maybe it got better?

What is ZBD?

100 sats \ 0 replies \ @deletedd 17 Jan

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0 sats \ 1 reply \ @Kathleen_Croteau 17 Jan

I've never been a big fan of managing liquidity.

0 sats \ 0 replies \ @ryenski OP 17 Jan

Yeah the Lightning UX is not great.