50 sats \ 26 replies \ @Undisciplined 14h \ parent \ on: Stacker Saloon
Fair enough and those are all reasonable points.
I completely agree about the wallet stuff. If it could have been avoided, that would have been best and it's going to be a severe drag on recruiting stackers.
We don't even have a list of wallets that are viable. At first I wanted to use Breez and k00b said no can't use that one for x reason. Then I said ok I will use phoenix and k00b said you can't use that one for y reason. Then I finally got sorted with coinos and found out that coinos had a rate limit so you couldn't zap more than 8 times per minute. That certainly won't work for me. Then there was an error between Coinos and SN. It was just a total mess and it got sorted in the end but I spent hours going back and forth with k00b, ek and the guy from coinos. Most people won't do that. We need a list of wallets it will work with and any limiting factors (like rate limits) and a tutorial on how to set them up.
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That's why I'm saying, it's not a good option. I've a good idea but I think noone is gonna like that.
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What's your idea? I like ideas that alienate everyone.
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I think SN should adopt to a credit (points) system where users will buy credits for real Sats.
The credit points can then be exchanged for Sats through SN.
This will keep the SN away from any dangers of shutting down by authorities. This will also provide a seamless experience.
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Can the fee credits be exchanged for Sats? I think they can't.
What I'm suggesting is a complete revamp to how SN zapping and wallet thing works.
I'm saying that why don't SN detach wallet thing from SN? No real sats. Instead we all use credits or points. And there should be a mechanism by which the points can be exchanged into real sats anytime. Or, I mean that those points can be cashed out for sats.
Also, if we need we should be able to purchase the points by depositing Sats.
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I'm a little confused about converting credits to sats. They say you won't be able to, but all of the credits will have been backed by sats (I think), so I'm not sure what happens to the sats that are used to generate the credits.
I think the system you're describing would potentially run afoul of the regulations placed on custodians.
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I think the system you're describing would potentially run afoul of the regulations placed on custodians.
How will that be?
SN won't be a custodian. Instead SN would only provide Stackers a reward for their good work.
100%
I don't even want to play around with it (more than I have) until we have that kind of detail. I don't understand all the technical differences across lightning wallets and I'm sick of starting to use a wallet just to find out it's not going to ultimately do what I need or continue being supported by its developers.
We didn't have to worry about any of that stuff with the built in wallet.
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So far, I don't see any problems in SN continuing with their own wallet. There's no harm if there are no big movement Sats. SN can cap them.
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It's a US regulatory thing, although I think they wanted to go this direction eventually.
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Will they even come behind if it's hardly for a few dollars.
I mean if SN strictly prohibits big zaps like can't be more than, say 100k or 500k?
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It's not worth risking being shutdown by US financial regulators. There's no telling who they might target, but Stacker News would not be a surprising target in the current political landscape.
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I've tried zapping by external wallet but not satisfied. I don't if I'll continue or not. I'm also not very good at technical skills. I'm new in Bitcoin.
I'm saying this because it's going to affect adoption.
Anyways, we'll see. I can't predict. But I don't like the zap from external wallet.
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