I recently thought about a kind of recovery solution for mobile phone lightning nodes.
My setup is like this:
  • Server running a full BTC node with LN on which I have a bunch of channels.
  • Phone running Blixt with a neutrino node with one channel to my server.
In case I lose my phone I can just "initiate" a theft from my server of all the funds. No need to keep track of phone wallet backup and it also has the nice side benefit of reducing the amount of funds that can be stolen if someone gets ahold of my phone.
Mad genius or just crazy? πŸ˜‚
Mad genius or just crazy? πŸ˜‚
Both. It should work assuming there isn't a watch tower running implicitly in there somewhere.
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Yeah - there's also the issue of me not knowing how to even execute the plan in-case I actually lose the phone πŸ˜‚
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You would just force close the channel (aka a unilateral close). The funds would be locked up for awhile but your node would eventually get them.
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I thought those would just settle the latest state, but I suppose it makes sense that I'd just be able to broadcast an older transaction wherein the server has gets all the money
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You’re right!
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