What USD amount do you feel comfortable holding in a custodial Lightning wallet? \ stacker news ~bitcoin

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What USD amount do you feel comfortable holding in a custodial Lightning wallet?

2960 sats \ 44 comments \ @TSW 7 Mar bitcoin

What USD amount do you feel comfortable holding in a custodial Lightning wallet?

Share your preferred custodial wallet in the comments and let us know why you prefer it!

None, self-custody only6.8%

0 - 50 USD18.2%

50 - 100 USD11.4%

100 - 250 USD22.7%

250 - 500 USD12.5%

500 - 1000 USD10.2%

1000 - 2000 USD4.5%

2000 - 5000 USD3.4%

5000+ USD10.2%

88 votes \ poll ended

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631 sats \ 3 replies \ @TSW OP 7 Mar

Preferred custodial wallet: https://www.blink.sv/

FOSS
Visible team
Low fees
Easy to use
Stablesats

41 sats \ 2 replies \ @kytt 7 Mar

Not supporting USA phone numbers :(

31 sats \ 1 reply \ @Poisoned 8 Mar

deleted by author

0 sats \ 0 replies \ @kytt 8 Mar

Not sure how I didn't think of that. Thanks for the reminder!

74 sats \ 6 replies \ @TheBTCManual 7 Mar

300k sats is max life, whatever the USD price may be, if you're bigger than that, you should be able to on-chain with a UTXO that wouldn't be considered dust in high fee environment but don't quote me on that one

10 sats \ 0 replies \ @kepford 7 Mar

Best answer by far. This pretty much my approach.

0 sats \ 1 reply \ @Quasianon 8 Mar

Not sure about 300k. I’d stay around 500k - 1M to be sure. Unchained published a good article about it

0 sats \ 0 replies \ @TheBTCManual 8 Mar

Tell that to ordinal bros moving 256 sats at a time

0 sats \ 0 replies \ @TSW OP 7 Mar

But what if you frequently make/receive payments of 1M sats and don't want to self-custody Lightning? Moving that between on-chain and Lightning each time will be expensive.

0 sats \ 1 reply \ @OriginalSize 7 Mar

Seems risky vs. my calculation #442514

0 sats \ 0 replies \ @TheBTCManual 7 Mar

Point taken, I guess you either die hoping for covenants or you hope you remember to consolidate during a bear market lol

42 sats \ 1 reply \ @NoIdols 7 Mar freebie

Up to 5% of my total stack

0 sats \ 0 replies \ @TSW OP 7 Mar

Interesting. That might change over time as well if your total stack’s purchasing power increases.

163 sats \ 1 reply \ @Coinsreporter 7 Mar

I think it all depends on how much you actually have. If you're with in billions, holding a few thousands in any kind of wallets wouldn't be a big deal. But when your wort is in the thousands, you will always be in some kind of fear even while holding a few hundreds in any custodial wallet.

0 sats \ 0 replies \ @TSW OP 7 Mar

100% agree

41 sats \ 0 replies \ @Louferlou 7 Mar

I will never understand Bitcoiners who still use custodial LN wallets while Phoenix exists...Ok for non bitcoiners merchants who don't want to spend time to manage their liquidity, and just receive payments without a bank account.

But otherwise, with Phoenix, Zeus, Blixt, Bitkit, Breez, Umbrel already and others already existing and working well or extremely well, it makes not much sense to me, really.

32 sats \ 4 replies \ @DarthCoin 7 Mar

You are NOT keeping any USD in a LN wallet. Bitcoin and LN works only with sats.
Those amounts are useless, because you should NOT use just ONE LN wallet but many. Spread your stash in multiple parts, multiple wallets, different types. Each one with a comfortable amount that you spend at a daily basis.

For example: you know that in a week you will spend 1M sats over LN. Then spread that into 2-3 wallets or whatever your are comfortable with.

Read this guide for more details: https://darthcoin.substack.com/p/stacking-sats-noob-journey

21 sats \ 3 replies \ @TSW OP 7 Mar

Thanks for the suggestions.

Everyone knows that there are satoshis in a wallet and not USD. However, that does not mean that people don't calculate in USD.
Those amounts are not useless. You need to connect them to the real world, which for most people means converting them to their local currency and assessing how much they feel comfortable holding in a custodial wallet. This is similar to what they feel comfortable holding in their physical wallet as cash. The amount of satoshis people will keep in a certain setup will change over time (custodial LN, self-custody LN, single sig on-chain, multi-sig on-chain, etc.).

31 sats \ 2 replies \ @DarthCoin 7 Mar

All that is bullshit crap fiat mindset. And that's why we will never make it.

22 sats \ 0 replies \ @BitcoinIsTheFuture 7 Mar

This I agree with, your lightning wallet is denominated is sats full stop!

0 sats \ 0 replies \ @TSW OP 7 Mar

🤣

31 sats \ 0 replies \ @IamSINGLE 7 Mar

I don't have USD. I only have Bitcoin. Tell me what to do? I am still single, can't ask for USD to someone who is a loyal and compassionate Boyfriend.

31 sats \ 0 replies \ @guts 7 Mar

Got me confused you use USD. Not Satoshi way.

31 sats \ 1 reply \ @ZezzebbulTheMysterious 7 Mar

Keep it under 1M sats

0 sats \ 0 replies \ @TSW OP 7 Mar

I expressed it in USD because I anticipate that individuals will reduce the quantity of satoshis they hold in custodial wallets as the purchasing power of a satoshi rises.

31 sats \ 2 replies \ @BitByBit21 7 Mar freebie

These days my only custodial wallets are Cashu wallets (Minibits, eNuts, Nutstash, npub.cash) as they offer additional features that make the trade-off way better, such as privacy, censorship-resistance, irreversibility and offline availability. I just use them for very small amounts, mostly for getting zaps on Nostr, but everyday I move the funds to my own node.

0 sats \ 1 reply \ @joda 7 Mar

Did you keep larger amounts on custodial lightning wallets before ecash?

0 sats \ 0 replies \ @BitByBit21 7 Mar

No, basically the same.

31 sats \ 0 replies \ @justin_shocknet 7 Mar freebie

It will be interesting how the bands for this squeeze as spot price rises...

When Bitcoin is $500K you'll find it uneconomical or even difficult to send small amounts, of less than $10 or so, due to how the real costs of settling HTLC's shapes network fees and routing.

On the other hand, as usage in-terms-of-dollars increases along with spot, the cost-benefit shifts in favor of self-custody.

LSP's will find it increasingly difficult to sell channels to hobbled devices like mobile nodes when a channel costs rise to $50+, and have to tie up increasingly more dollar-denominated capital.

At the same time the TCO of running a real home or cloud node, being only a few dollars a month, falls on a relative basis.

These are just a few reasons the mission for shockwallet and lightning.pub is so important, making remote nodes great again, by giving users an ability to share that node with friends and family to recoup self-hosting and channel costs.

10 sats \ 0 replies \ @Lanter 8 Mar

I'm planning to earn at least a million SATs for the purpose of buying my dream bike

21 sats \ 0 replies \ @ladyluck 8 Mar

250 - 500 is ok especially as my holdings are small

21 sats \ 0 replies \ @KLT 7 Mar

$250 is my number.

21 sats \ 0 replies \ @030e0dca83 7 Mar

#319682

300k sats and use it in education cause. When I bought it, it was $70. Now it's a little more