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447 sats \ 4 replies \ @DarthCoin 8 Apr \ parent \ on: Will Pleb Hobby Lightning Nodes Be Big, Profitable Enterprises In The Future? lightning
I do not see any risk of having 20M sats in a LN channel vs a cold wallet.
The only risk is to get a force close, but that doesn't mean you will lose your sats. Not at all! You will only pay some extra fees, that's all.
It's all about perspective: what do you want to do with those sats.
If you plan to use use them, buying stuff, then the right choice is to have them ready in some LN channels.
If you do not plan to spend them soon, then yes, keep them in a cold wallet.
But keep ALL your sats in cold wallet and not being prepared to spend I think is silly. ofc you do not have to put all your sats in LN channels, but a portion of max 10% I think is reasonable. It's all about how many sats you expect to spend in the near future.
SPLITTING YOUR STASH IN 3 LEVELS IS VERY IMPORTANT!
https://i.postimg.cc/MTL2kvT0/3level-stash.jpg
Advice on channels to open if you don't need to buy anything, at least right now?
I struggle with this part of it. Your advice makes sense, but since there's nothing that I can think of to buy via LN, it's never been clear to me what would be sensible channels to open in order to give myself future optionality like you and Siggy are describing.
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If you do not plan to spend a large amount of sats over LN, then I think accumulating few sats over LN from SN, nostr and other sources, will be OK to use any custodial LN wallets that will not bother you with channels management.
I wrote this guide for example, describing how to do it:
https://darth-coin.github.io/beginner/getting-started-stack-sats-en.html
Basically you just accumulate few sats, little by little and once the amount is considered enough to be converted into a good UTXO, just swap it out into your onchain cache or cold wallets.
THERE'S NOTHING WRONG using custodial non-KYC accounts for that. The amounts will not be anyways so significant to affect your finances and also you are not touching your cold stash.
Keep it simple guys!
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Gracias!
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The 20M sats channel is essentally a hot wallet (there are nuances). If you're ok with having 20M in a hot wallet thats fine. It all depends on your risk management/appetite.
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