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0 sats \ 4 replies \ @justin_shocknet 4h \ parent \ on: How viable is Zeus Wallet for self-custody swaps (embedded node)? lightning
Sounds like he can already send from Lightning from the exchange so could buy the pre-paid channel with that. I don't think closure will be an issue since he's DCA re-filling the channel regularly.
Pre-paid could make sense given that if the routing discount offsets the lease costs, main thing is to avoid trashu or JIT channels.
I would avoid using the exchange withdrawal for any direct payment. If something goes wrong, you cannot manage it properly because you are not in control of any of the parts (sender and receiver) and even lose funds..
Better use a buffer zone. As I always said: use the 3 levels of stash - hold, cache, spending.
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It's an outbound from the exchange either way in this case since that's where he dumps fiat, direct to Olympus for the pre-paid channel is one less failure point vs. an intermediate/custodial wallet to do the same. In this case Zeus is the cache/mixer to obfuscate his cold utxo's from the exchange
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I think we need to explain more to the new users, these types of scenarios and which type of channels should be used. In all wallets documentation (your Shock Wallet really need it).
Most of the issues with LN liquidity comes from lack of knowledge about how to use these channels and users just assume that is about send/receive and just it. But is not.
See? for us is quite easy to talk about these scenarios, but many new users have no idea what is JIT, LSP, 0-conf etc.
I wrote several guides with these scenarios, but I think these kind of guides should be also on the wallet apps pages, FAQ etc. so new users could find them easily. I know... people do not like to read FAQ and documentation page, but in Bitcoinlandia is a must.
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Yea tough needle to thread, a lot of terms came out of attempting to automate things with the intent the user doesn't need to know, but I think have made it worse since the trade-offs of each are suboptimal in power-user scenarios such as this.
When automation is not implied I try to use the term of re-usable transactions, because that's really the essence of Lightning, so power users should eschew all the automated terms and just treat channels accordingly, as re-usable chain transactions.
I may need to commission an infographic-y video thats digestible in 90 seconds or so just to give people a baseline mental model since everyone else hits them with a firehose.
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