20 sats \ 2 replies \ @shibe 12 Jul 2023 \ parent \ on: Introducing the new Phoenix: a 3rd generation self-custodial Lightning wallet bitcoin
I like Phoenix but they still haven't addressed the biggest issue: you can only open channels with ACINQ. Considering ACINQ is based in the EU/France, it's possible they could be the target of regulation in the future. Imagine for example hundreds of thousands of people get onboarded onto Phoenix only for ACINQ to suddenly require KYC or blacklist certain nodes. At that point the Phoenix app will just be a paperweight and it could take months/years to move users to a new wallet (that likely doesn't have the same ease of use as Phoenix)
The power of the entire codebase in the palm of your hand
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Even if you had the option to open channels with other nodes, most people would still use ACINQ's nodes. So you would have to also make them migrate. Whether or not you can only open channels with ACINQ is irrelevant to the issue you underlined because the solution is the same anyway. Force close or just sent your funds to another wallet. I don't even think it's an issue. If you don't like what they're doing you have the keys. Bounce.
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