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10 sats \ 0 replies \ @leo 12 Jul 2023 \ on: Introducing the new Phoenix: a 3rd generation self-custodial Lightning wallet bitcoin
This is really great. But what's still missing in Phoenix is to "buy" or "choose" how much inbound capacity you want to have. Imagine in the splicing scenario, I download Phoenix and want to start accepting payments for my ice cream stand.
The way Phoenix works today is that for each ice cream I sell, I get an additional channel and have to pay a 1% fee. That sucks! In the splicing model, My channel gets bigger with every Lightning payment I receive, but I still have to pay the onchain fees for every such payment. In the end I have a usable channel, but still spent a ton of sats on onchain fees.