reply on: Is Self Custodial Bitcoin Possible Outside of the Main Chain? \ stacker news ~bitcoin

83 sats \ 6 replies \ @DarthCoin 16 Feb \ on: Is Self Custodial Bitcoin Possible Outside of the Main Chain? bitcoin

Lightning can't easily be self-custodial yet.

Wrong. Totally wrong. Please read my guides.

Lightning doesn’t scale in terms of user count. It’s necessary for regular payments, but as of now there can’t be more than 20mil self-custody users. (Assuming 1 transaction per month)

0 sats \ 4 replies \ @Krv OP 16 Feb

I'll check it out. But I'm curious, with Bitcoin, you can securely save your seed, then forget about it. Can you do that with lightning?

520 sats \ 3 replies \ @DarthCoin 16 Feb

onchain = only for long term holding and opening/closing channels Lightning = only for spending, short term, small amounts.

I will repeat this over and over: use the 3 levels stash - hold (onchain vaults), cache (coin control), spending (LN)

https://i.postimg.cc/MTL2kvT0/3level-stash.jpg

Please read all these guides:

0 sats \ 0 replies \ @Krv OP 16 Feb

Your guides are very good

0 sats \ 1 reply \ @Krv OP 16 Feb

I appreciate that. For me, you are preaching to the choir. But, I can't sell this idea to easily normies.

Maybe tech can be developed to make this easier, but for now I don't think it's there.

Maybe someone could then say that maybe Bitcoin is not for such a person who can't embrace these ideas. I'm open to that, but then it's a reality to accept about Bitcoin.

But, even with that, say that I'm in Africa and I want to help someone very poor hodl Bitcoin and BTC fees go to the moon. Can I really be helpful advising them to get a very small utxo that may never be able to be spent in the future?

Is there no solution possible for that person?

10 sats \ 0 replies \ @DarthCoin 16 Feb

Is there no solution possible for that person?

As I said, I write guides for all kind of scenarios, testing a lot of bitcoin solutions. Did you read them?

https://i.postimg.cc/qvH59JWk/wallets-learning-climbing.jpg