Blitz Wallet: Self-custodial bitcoin lightning wallet \ stacker news ~bitdevs

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Blitz Wallet: Self-custodial bitcoin lightning wallet github.com/BlakeKaufman/BlitzWallet

386 sats \ 19 comments \ @Rsync25 9 Mar 2024 bitdevs

1129 sats \ 18 replies \ @DarthCoin 9 Mar 2024

Interesting now we start seeing how each LN app is building a wallet around their own LSP. But few have open source code and/or interoperability with other LN apps. We need open standard for LSPs, so any LN app can connect to multiple LSPs.

Blitz - LQWD LSP, locked to single LSP Zeus - Olympus LSP, open to multi-LSP Blixt - Blixt LSP, open source code, open to multi-LSP Mutiny - Voltage LSP, open to multi-LSP Phoenix - Acinq LSP, locked to single LSP Bitkit - Blocktank LSP, locked to single LSP Breez - Breez LSP, locked, partially open to multi-LSP Green - Greenlight LSP, locked to single LSP Valet/OBW - multi-LSP Nayuta - Nayuta LSP, locked to single LSP Electrum - open to multi-LSP

https://i.postimg.cc/260zFbq0/wallets_security_chart.jpg

https://i.postimg.cc/mkmGw7BJ/wallet-stairs.jpg

0 sats \ 0 replies \ @Rsync25 OP 9 Mar 2024

We need open standard for LSPs, so any LN app can connect to multiple LSPs.

https://github.com/BitcoinAndLightningLayerSpecs/lsp

0 sats \ 16 replies \ @ch0k1 9 Mar 2024

I considered switching to Zeus 2 months ago but there things made my mind:

It took Zeus more than a minute (after a successful network sync) from the moment of opening the wallet until the node was completely operational.
Olympus asked for an initial 100k sats just to start using their LSP services which in opinion is a way too much if you want to attract more of the average users.
The level of the wallet's complexity and sophistication was higher for the average user.

21 sats \ 15 replies \ @DarthCoin 9 Mar 2024

Look again to that baby climbing the stairs... You tried to skip a lot of levels. People usually do that, without reading any guides whatsoever, and that is where they do mistakes. Zeus is the highest level of knowledge and power. Try again, but this time read first my guides:

21 sats \ 14 replies \ @ch0k1 9 Mar 2024

Thank you 🙏

I'm just getting started!

Btw, can you share with us:

Are you currently using it as a base solution on mobile?
Are you using their Olympus LND implementation or just as a bridge between your own node and phone?
What prevent of the initial 100k sats is taken as a fee for opening first channel?
After opening your first channel, are Zeus' fees higher when you start using Olympus for lightning payments compared to other wallets in your list?

21 sats \ 9 replies \ @DarthCoin 9 Mar 2024

It doesn't matter what I use. I personally use them all, because I am testing a lot and also I like to use multiple apps for my usual payments.

Never copy the habits of others. Use the ones that fit for YOUR own use and not just one, but at least 2-3. Use the ones you are comfortable with, meanwhile you are climbing that ladder of knowledge.
I use Zeus with 7 accounts: my remote node, embedded node, lndhub accounts
100k sats is minimum so you will not be forced to pay a lot of fees. I would say that even 100k is too low for a channel, better at least 500k. Learn more from my guides about liquidity. https://darthcoin.substack.com/p/managing-lightning-node-liquidity
Fees over LN are depending on the route is taken the payment. It doesn't depend on Zeus LSP, actually Olympus is not charging any fees for routing if you open the channel on the fly (not as usual, with funds from onchain). I explained all these aspects in that Zeus guide.

0 sats \ 8 replies \ @ch0k1 9 Mar 2024

I asked you not to copy your wallet usage habit but to analyze it and adapt it for my own case
You're a heavy and a hardcore user 🤯
Yeah, I understand the liquidity motivation behind their threshold but still think it may be better for heavy users like you but they can lower it not to push back potential users with less liquidity needs.
Thank you for the additional liquidity article - adding it to my to-do list and maybe I'm missing something but:

Olympus are not charging for routing fees

How is that possible? I mean isn't charging routing fees the primary monetizing option of LSPs to cover their infrastructure expenses? 🤔