Any wallets with splicing and sub-wallets? \ stacker news ~bitcoin

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Any wallets with splicing and sub-wallets?

262 sats \ 11 comments \ @0211f132bc 4 Nov bitcoin

This may be a tall order. I'm wondering if there are any wallets out there that also have the ability to do sub-wallets (Uncle Jim mode)? If Phoenix had Uncle Jim capabilities, that would be the perfect wallet (for me). Ideally, I'm looking for a wallet that

splices in on-chain transactions
has Lightning capabilities
has sub-wallet capabilities (ideally infinite)

Essentially, I want to be an Uncle Jim for those that I orange-pill who are, themselves, not quite ready for self-custody and trust that I won't rug them. Or who just don't want to self-custody at all, but this is the next best thing for them.

Does something like this exist? If not, what is the learning curve for non-technical folks - if it's even possible?

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222 sats \ 4 replies \ @BeeRye 4 Nov

i don't think you are going to find a node in the phone wallet that supports sub-wallets. That seems like you are gonna need a server or device that is online all the time.

Running an albyhub is quite user-friendly (you can do so on a start9 in a few clicks or run it on a lap top you devote to being on all the time with one copy paste script into a linux terminal) and would provide you the ability to create sub wallets for friends / family. they could then load that sub wallet into the goalby or zeus apps quite easily. Albyhub is nice too because you can run it without a btc core node as the backend, so very light weight.

If you wanna know more let me know but that might be too much / not remotely what you were hoping for.

0 sats \ 3 replies \ @0211f132bc OP 4 Nov

AlbyHub looks nice, but it seems like you have to do a swap + fee anytime you want to move funds from on-chain to lighting. That's fine and all, I'd just prefer something more automated. You also have to "top-up" your sub-wallets, which seems silly to me. Shouldn't they "top-up" when they receive Bitcoin from someone else?

It also may be that I haven't played with it enough or read enough documentation to know its true capabilities.

55 sats \ 1 reply \ @DarthCoin 4 Nov

He's right, Alby Hub is what you are looking for. Don't be lazy and learn how to manage and use it. Is not hard to run it on any PC. You have a simple option to run it with a LDK backend or even phoenixd backend. That will offer you the splicing you are looking for.

From there you can create and manage as many sub-accounts you want and they can use it with Alby Go or Zeus, through NWC. Easy peasy.

Start reading here: https://darth-coin.github.io/wallets/getting-started-alby-hub-en.html

0 sats \ 0 replies \ @0211f132bc OP 4 Nov

Appreciate the input, Darth. And thanks for the guide.

0 sats \ 0 replies \ @BeeRye 4 Nov

you can just open a channel with an LSP (its easy within their dashboad) using either lightning or on-chain...then send some lightning btc somewhere else (say like a coinos.io account or buy something somewher) to get some inbound liquidity. Now, any sub wallets you make will have their own accounting (starting at zero), and you can choose to top up with your own funds (this won't actually drain the node you just created, rather earmarks a balance in their sub-wallet..think fractional accounting at a trad bank but within your albyhub) or zap the wallet once the user is set up and it'll be added to their sub-wallet balance (this should work if you've created some inbound liquidity by sending some sats out of your albyhub). It'll work as it's own sub-wallet using the liquidity in the channel you opened with the LSP. Hopefully that provides clarity I really think it's the best option for what you want to do.

If you are going to be going this with other people using it, I'd recommend starting with at least 500k sats but please only do what you are comftorable with based on your experience and all.

0 sats \ 0 replies \ @justin_shocknet 5 Nov

The utility of splicing is for LSP's to re-allocate liquidity, its not valuable for an end user, a user is better opening another channel to increase overall liquidity rather than updating an old channel.

Lightning.Pub + ShockWallet is a nostr based account system that sets up in under a minute without networking fuss.