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31 sats \ 5 replies \ @DarthCoin 21 Nov 2023 \ on: How many sats do you store on your lightning wallet? bitcoin
My main focus is to organize my stash on the 3 levels: HODL, cache, spending (think like a bank)
https://i.postimg.cc/MTL2kvT0/3level-stash.jpg
From there I use this strategy:
- multiple onchain wallets, with multiple UTXOs, with various amounts.
- never keep just one giant UTXO with all your BTC in it. Split it in small pieces, but not so small. Enough to be able to open regular good LN channels.
- 1-5M sats UTXO for opening LN channels on mobile private nodes
- I use multiple LN mobile wallets, each one with a specific amount, ready anytime to pay. Why multiple? Because you never know when one could fail. As I explained here, about the "art of chosing the right wallet". See here a comparison guide of all types of LN wallets
- 10-20-50-100M sats for opening LN channels on public nodes (if you run a public routing node).
- make a good coin control and funds management on 3 levels, before you are moving to your cold storage.
- if an onchain wallet get too many UTXOs, split them into another wallets. Is not so handy to have too many UTXOs in just one wallet and you are killing the node and the app opening it.
I will repeat this over and over:
- onchain is only for opening / closing LN channels
- LN is for day to day use, spending
- Be your own bank - THINK like a bank
10m sats? I can't even dream about it
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Now you're a bit closer 😉
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Thanks for this generously tips. I'm just dreaming about millions and come closer to it, next generations won't have a chance to grab so much
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That's for a PUBLIC routing node, not for a private one.
Pay attention to what I said.