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100 sats \ 8 replies \ @OgFOMK 5 Nov \ parent \ on: How Many Sats Are You Comfortable Having in Ecash? AskSN
As I stated above I wouldn't keep any until I understand the mechanism and maybe, as @DarthCoin alludes to, I would keep my own mint but I've already had an experience where an ecash mint changed URLs via a DNS issue and I lost 1000 sats which is too much.
Maybe my own and the knowledge on how to recover but I'm not buying into it.
People mess around on mainnet and it just increases the scarcity of Bitcoin which maybe we have access to 1.7 quadrillion sats but I don't like the idea of locking up things I don't understand. I'd rather have my sats stolen than locked up. At least the sats are valuable and I have a chance of earning them back.
No one likes losing sats, buy losing 1000 sats is not too bad at this point in time.
Let's say you use LND instead. You need large channels and you should have more than one. If one of these channels gets closed because of retards spiking fees on chain you will lose a lot more than 1000 sats. Your channel partner might decide that it's time to close down the channel and you could pay more than 1000 sats too.
Using ecash for small amounts is a good option for small payments IMO.
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I disagree. I do understand your point but when I run my LND I am in a mutual multi-signature agreement. If something changes then I accept responsibility for it and I might not like it but I am going in knowing that one day the accounts must be settled. It might even be during a high fee time. I've already experienced this and it took months to settle some of my channels.
I've also been the new dick head who closed channels when I got scared so there is that, too. Again, we are going in Lightning mutually hoping that our partner is a good person. With mints I'm assuming the same but I'm just changing credit unions for credit unions.
Losing 1000 sats is too much. Losing 1 is too much. I'd rather have them stolen and valuable than locked away and just gone.
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For me it is an ideal to have your own sovereign LN node running at home. I'd like to see more stability in LN before I try that again though.
I don't see the problem of keeping a few 1000 sats in a mint for small payments for the time being. Saying losing 1 sat is too much is a bit dramatic IMO. You just paid 1 sat to post this msg!
I lost 1000 sats which is too much.
I am glad that you understand the true value of each sat.
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LN channels do not close only because of onchain fees spiking. There are many other reasons why a LN channel is closed. And is mostly because noobs like you don't know how to manage properly a LN node.
If one of these channels gets closed because of retards spiking fees on chain you will lose a lot more than 1000 sats.
And that logic is lame and wrong. Using ecash it doesn't mean IT IS NOT REQUIRING TO OPEN LN CHANNELS!
Once again you show that you don't know how LN and ecash cashu is working.
Just because you are using only ecash, it doesn't mean somebody else (the mint) is not opening LN channels for you.
Just saying "I am using ecash because LN channels are getting force closed due to fees spikes" is really dumb.