They've been pretty involved in the lightning and lsp spec process afaik. Most non-custodial lightning wallets seem to be focused on building products that leverage/pay their LSP which about as fair of a business model as it gets.
Phoenix is probably the most used self-custody solution here thanks to its connectivity. It is a bit expensive in its fee per Tx, I have paid up to 0.8%, but oh well. The opening of a channel via Lightning has a cost of 1% of the deposit ➕ mining fee, for small channels, you can start from 11k, it is acceptable, not recommended, but what is recommended is not always viable. But it provides a self-custody solution to the less favored.
If it's self custody, how do they charge you for things? Is it basically like a convenience fee they attach to all the transactions, built into the software?
I like that it opens really fast. I dislike that it take like 3 taps to get to QR scanner so I can pay. It's a wallet, you use it for paying. That needs to be a single tap thing. @ACINQ
Yes, in most wallets this is 2 taps. Wallet -> Send&Scanner
I wish the devs would take advantage of the icon actions in Android and iOS when you longpress the icon for a bit and you have the action there immediately - that's still 2 taps, but it can load&render the scanner directly. I'm also surprised that no wallet is doing widgets, that could be a single tap solution.
I'm really sorry to ask this, because this is the most ill-posed question I've ever written, but: wasn't there a big shitstorm the other year when some regulation caused Phoenix and other lightning wallets to get gunshy about something or other?
I can't remember any details, but what got stuck in my brain was a general worry about Phoenix. Does anyone know wtf I might be referring to?
Yeah they withdrew from the US when a noncustodial bitcoin service (Samourai Wallet) was indicted for a bunch of stuff. One of the charges was unlicensed money transmission which challenged established precedent that money transmission involved taking custody.
Phoenix is fantastic.
It makes using and storing the payment channel and SATS fucking easy.
A while ago I was robbed and had to restore my wallets on another device.
Phoenix was simple and practical.
You use your "secret key" 🔐 and everything is there.
Something that is not so easy in other Wallets.
I had to restore Green Wallet and now I can't find anywhere the option to restore my LN channel.Fortunately I had almost nothing in this channel.
With Blixt the mess was more tedious, DarthCoin tried to help me last time. but without success on my part. I still keep my secret key encrypted. And at any time I will try again to restore Blixt and see if I can find my lost satellites there.
In my case, I keep Phoenix because of the connectivity issue. But with Blixt I now have better options, with the LPS Dunder service a 410k SAT channel is opened and it is a private node and where I live it synchronizes well.
Phoenixis fantastic. It makes using and storing the payment channel and SATS fucking easy.