230 sats \ 3 replies \ @nout 13 Oct 2023 \ on: Stacker News Roundtable #2 - LSPs bitcoin
Is there a plan to easily migrate between different "greenlight-like providers"? That would imo greatly reduce the current risk setup.
I don't know of any plans for that, but I think it'd be nice as well but technically pretty challenging. They'd all at least have to be using the same implementation. Going from like a Greenlight to LND would be very challenging if its even possible. So there's have to be some sort of standard there.
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That involves you exporting your exact channel states (commitment transactions) and taking downtime to switch providers.
I think it will always be easier to just move your funds and setup anew with some other provider. You can use BIP32 to maybe reuse the same seed, but actually moving channels and keys doesn't make much sense to me.
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So is the migration something that the app on the phone could do (sort of automatically/seamlessly)?
E.g. Breez wallet (@roy ;) ) could have a button in the settings - "Switch to provider ABC". You tap it, it asks "are you sure you want to migrate to another provider, this will take 5 minutes and 500 sats".
And then it either does automatically send the sats from older provider to newer, or it could do something smarter - like downloading channel states, making old provider disabled and pushing those to new provider.
I'm just brainstorming - the main risk with greenlight-like setup is that the provider will block me from transacting (by e.g. going offline). So I'm trying to see what are the mitigations.
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