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2 sats \ 8 replies \ @Craze 14 Jul 2023 \ on: Mutiny Wallet Tutorial! bitcoin
Is it really different than wallets like alby or walletofsatoshi? Like honestly, there doesn't seem to be any difference being a self custodial...just a confusion I have
Functionality-wise, you're right they're similar (though there is some cool stuff that appears to be on their roadmap which you can see more on here: https://twitter.com/MutinyWallet/status/1679549684485070848?s=20)
The really big difference here is custodial vs. self-custodial. With something like Wallet of Satoshi, you're fully trusting them with all your funds. With Mutiny Wallet, you're not.
Is everyone on earth going to care about this distinction? Definitely not, but for those that do it's a great tool to have in our toolkit, and generally-speaking I think as a community we should be ensuring people understand the risks they're taking when they use custodial solutions.
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True, generally people are not going to give something about custody or non custody but having a wallet like this is better, like it holds the basics of bitcoin. Before I did hear that you need to set up a node and much other stuff to perform something like this, but if this can successfully do something like that without the earlier headaches, the team did a very good job.
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Yep exactly - this allows you to use Lightning self-custodially without going out and setting up an external node. In this case the node is running in your browser without you really needing to know about it - we're getting closer to "it just works". To their credit, Breez Wallet was an early pioneer of many of the tactics Mutiny is now using to make this happen, but to now have this available in a web browser is nice
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that's really good, didn't know that breeze had this since as of now, not having much funds here so didn't require.
would wait for more time so Mutiny could get a bit finer with their bug fixes and updates, and not to mention the browser thing is actually "nice" from a hefty node system.
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Give Blixt a try, very polished and is self-custodial in the same way as these other products.
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Yep huge fan of Blixt and have done a tutorial on it as well: https://www.youtube.com/watch?v=5JyOAeaCN0o
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I'm confused. Supposedly the lightning node is in the browser, but according to my interpretation of the source code, the browser contains a front-end app which communicates with a back-end; Hence the node is actually running custodially on a server. I'm assuming the front-end signs the transactions, which is what makes it noncustodial, but I wasn't able to find that part of the code.
This also implies that multiple users use the same node, just different channels on that same node.
I'm quite interested in how this actually works.
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That's why I would personally like to wait a bit for this to finish, it is interesting as well as risky to jump right off into something like this, I doubt if you are correct, what if the server shuts off, yes the authority of signing transactions is in our hands but ultimately the main point arises for server closing...
Nostr is fascinating!
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