Default avatar
npub1ug8c...d9ry 1 year ago
Yes I've used many and support many who are adopting LDK. I think Phoenix is the best UX with reasonable fees but it is no longer available to me. I like Mutiny as well and it is my preferred non-custodial LN wallet, but they've had problems with their LSP scaling. It is all very early. Even once all the kinks are worked out, there are fundamental challenges with a LN wallet that make it impractical for small amount spending wallets (eg $20 balance) that are used to zap in nostr or on Stacker News. There are other solutions such as e-cash that don't have that problem, but e-cash systems make other tradeoffs. Thus back to my original point, which is there's no single solution that serves everyone's payment needs. The good news is there are many solutions in the works, and LN is the open payment protocol connecting them all so users of different systems can seamlessly pay each other. It is quite beautiful.
↑ Parent

Replies (1)

Chuck Langstrumpf's avatar
Chuck Langstrumpf 1 year ago
Interesting, i have used Phoenix, Muun and Breez as well as a couple of custodial wallets. My experience with the self hosted ones is that it is a pain in the ass still to manage your channels and also the transaction fees were nowhere near a few sats. More aroud 0.3 / 0.5% of the transaction value. Often 30 to 50 cents, a couple times even a few dollars. Only between custodial wallets i saw really low fees. Also not all the time. In many cases the fees were higher than in the banking / card networks, mainly when you transact with other self hosted wallets or non mainstream LN nodes. To me we are also not early anymore, it is 7 years since the split in 2017 and we still do not have a solution which allows easy self custodial usage for non techies. All i see is people using custodial wallets, which is just another type of bank to me. LSPs are also kind of a trusted third party, at least you depend on them for a smoother experience. They will have to KYC you and adhere to AML laws over time and some already are. Which upcoming developments in lightning are promising to you?
↑