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Boltz and Utxo question
346 sats \ 10 comments \ @stack_harder 27 Aug bitcoin
Ok, I was looking at utxos the other day and thinking if i should consolidate some more or something, and i had a thought - if someone never did any consolidation (like people that have little daily dcas of small amounts or something) could they, in the high fee future, just use boltz to swap out from their 1 wallet of many utxos to lightning and then have a lightning balance to spend?
or would this still not work because it would still be in effect doing an on-chain thing to swap into Lightning in the first place?
i presume the latter , but hey.
also if anyone has a link to Darth's infographic on utxo management please share again
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147 sats \ 3 replies \ @Scoresby 27 Aug
If you have 1000 utxos in your wallet, doing a swap isn't any more efficient than just doing a consolidation transaction where you send them all to a single new utxo in your wallet. As you surmised, you still have to pay for a transaction that moves the 1000 utxos (either to the boltz transaction or to a consolidation transaction).
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0 sats \ 2 replies \ @stack_harder OP 27 Aug
Which wallets have good utxo management? like it would be good to have something that visually shows a utxo number or something.
Right now i have just multiple wallets and it's getting visually messy looking at it.
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67 sats \ 0 replies \ @Scoresby 27 Aug
If you're on mobile, Blue Wallet let's you do coin control and label your utxos.
On laptop or desktop, lots of good choices: Electrum, Liana, Sparrow, or just use the wallet in Bitcoin Core.
Probably the most helpful thing is to label every UTXO, maybe by source (where you got the bitcoin) or how it's been used.
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1 sat \ 0 replies \ @SwapMarket 27 Aug
Electrum wallet let's you select UTXOs for a payment
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0 sats \ 2 replies \ @dickiegreenlead 27 Aug
In you scenario you basically hand over the keys to your utxos to Boltz in exchange for an off-chain payment. Boltz would have to spend the coins now, either cosolidate or single spend, so in a high-fee environment, they would likely charge you with the cost of moving the coins on-chain by subtracting a fee from you lightning invoice amount that you receive.
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55 sats \ 1 reply \ @SwapMarket 27 Aug
That is not how Boltz swaps work. They give you an address to send lockup funds to, then claim it with the preimage from LN payment. How you fund this lockup address is your problem.
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0 sats \ 0 replies \ @dickiegreenlead 27 Aug
I see, I was thinking about static address swaps from Lightning Labs, that's how they work. But the classical swaps yeah, its the clients job to publish the funding tx.
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32 sats \ 0 replies \ @Bell_curve 22h
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0 sats \ 0 replies \ @d680ecaa8e 27 Aug
In between all crypto must involve LN network not only bitcoin.
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0 sats \ 0 replies \ @spiderman 17h
If you do not consolidate, then it happens when you use the dust UTXOs as inputs to swap in, and that will occupy as much block space as a consolidation into your own on-chain wallet.
If you know you will eventually swap in to lightning, you can swap in when the fees are low, just as you suggested.
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