Question for Alby team guys \ stacker news ~bitcoin

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1055 sats \ 23 comments \ @DarthCoin 10 Dec bitcoin

This is more like a question that many other users were asking me in private about what will happen with Alby after Jan 3 2025.

So I would like to invite here some @Alby dev team members (@bumi @MoritzK @reneaaron @rolznz @saunter @itsTomekK ) to clarify a bit some aspects. This is literally asking for a friend situation.

After Jan 3 2025 the custodial old accounts will be totally shut down, no longer can send/receive sats ?
Will the old custodial account will just disappear together with the LN address or that address can be migrated to a new already existing Alby Hub account? I know for a fact that you can change the LN address of a Alby Hub account, but what happen if a user want to migrate his old LN address from Alby "custodial" to his new Alby Hub ? It must be a procedure to verify and migrate to a new NWC connection that address right?
Would be a grace period after Jan 3 to withdraw the funds?
Would be an option to shut down existing account and also "release" that LN address assigned?

Thanks you, Darth's friend, an old Alby user

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322 sats \ 5 replies \ @Alby 10 Dec

Hey @DarthCoin thanks for the interest!

After Jan 3 2025, the users on our shared node (so called custodial, or legacy accounts) will no longer be able to receive more than 50,000 sats.

However, those sats could be spent only on Cloud subscription, channel opening on the Hub, or users would need to link their own NWC node (like Alby Hub, or other) to send over the Lightning Network.

This is already in place for new users, and they can immediately get a lightning address and receive zaps to their wallet, but in forms of those fee credits. This is a nice transition window for them.

Lightning addresses stay unaffected. Users can simply create their Alby Account (or more) and get their LA @getalby.com for free. And it is very easy to (un)link their NWC node for that Account (with LA) at "Wallet configuration" (getalby.com/node). Nothing disappears, behind @getalby.com there will be either your own NWC node, or our void "fee credits" node described in 1.
We would love users to migrate before Jan 3. After Proof of Keys Day users will be able to withdraw after linking some NWC node to their Account or launching Alby Hub. Actually, even linking the Account (in "Wallet configuration" to someone's else Hub in Uncle Jim model (Friends & Family) would enable easy migration. Obviously, we don't want withdrawals to be problematic.
Yes, nothing changes in this regard. Alby Account comes for free with a customizable lightning address. You can occupy your lightning address currently and not use it, you can change it to a random string, or you can simply delete the Alby Account and release your lightning address. We are however considering making the customization feature a perk in paid subscription... not on the visible roadmap yet, though.

Hope that clears? :)

Love your work! Alby team

21 sats \ 3 replies \ @0xbitcoiner 10 Dec

After Jan 3 2025, the users on our shared node (so called custodial, or legacy accounts) will no longer be able to receive more than 50,000 sats.

However, those sats could be spent only on Cloud subscription, channel opening on the Hub, or users would need to link their own NWC node (like Alby Hub, or other) to send over the Lightning Network.

Thank you for clarifying!

Does the 50k limit refer to the amount per transaction or the maximum total balance? What are the consequences of exceeding this limit?

To confirm, after January 3rd, if my balance is 21k sats, these will be automatically converted into fee credits, and subsequently, I can connect an NWC wallet to transfer 21k sats, is that correct?

33 sats \ 2 replies \ @Alby 11 Dec

50,000 limits refers to total balance. There are no consequences, your Account will not be able to receive more.

After January 3rd you will not be able to transfer out sats with a regular invoice or send to a Lightning Address. You will be able to connect NWC node (or someone's else Uncle Jim) and migrate there like regular sats or launch the Hub and pay for subscription and channel opening with these fee credits.

0 sats \ 1 reply \ @0xbitcoiner 11 Dec

Thanks! But can I transfer the 21k after setting up the NWC?

12 sats \ 0 replies \ @Alby 11 Dec

Yes!

0 sats \ 0 replies \ @DarthCoin OP 10 Dec

Thank you! Will pass on the information to people that were asking me.

10 sats \ 1 reply \ @TheBTCManual 10 Dec

Correct me if i'm wrong but your custodial account will still be active for receiving and build up a credit balance you can use to setup an albyhub at a later stage and open a LN channel, no? So still salvagable in a way right? All is not lost custodial maxxers

0 sats \ 0 replies \ @rolznz 18h

That's right. But the custodial users need to know that the credit balance cannot be spent like normal sats can.

42 sats \ 4 replies \ @0xbitcoiner 10 Dec

Some of your questions are answered here:

https://guides.getalby.com/user-guide/alby-account-and-browser-extension/alby-account/faqs-alby-account/embrace-alby-hub-phasing-out-albys-shared-wallet

10 sats \ 3 replies \ @DarthCoin OP 10 Dec

Some people specifically asked me about what will happen with the LN Address. The funds they already withdraw. Their concern is about they've posted that getalby LN Address in so many places that they can't remember and would like to keep it or migrate it.

21 sats \ 1 reply \ @0xbitcoiner 10 Dec

Can I still use my lightning address?

Absolutely! Your lightning address will continue working and you can connect it to a wide range of wallets like Alby Hub, Umbrel, Start9, or other NWC-enabled wallets.

https://guides.getalby.com/user-guide/alby-account-and-browser-extension/alby-account/faqs-alby-account/embrace-alby-hub-phasing-out-albys-shared-wallet#can-i-still-use-my-lightning-address

I was wondering what happens to the sats that arrive there, will they be converted into fee credits?

21 sats \ 0 replies \ @DarthCoin OP 10 Dec

Yes I saw that, the thing is that people want to migrate that old LN address to their new fresh Alby Hubs, where they already have another LN address. You know what I mean? Right now some of them have 2 Alby: 1 custodial and 1 hub. So what about migrating that old one to the new already functioning Hub ?

0 sats \ 0 replies \ @denlillaapan 10 Dec

precisely.

30 sats \ 5 replies \ @alashazam 10 Dec

I want to know as well, I have jumped into the Alby Hub wagon ; paid the cloud hosting for the node and paid for the bitcoin channel (for a total of 35K sats) ; but I am a bit afraid I won't be able to pay this monthly, what would happen if I run out of sats?

0 sats \ 2 replies \ @saunter 10 Dec

Just a shoutout, we will soon change the pricing to USD and around $10, so should be more affordable

14 sats \ 1 reply \ @DarthCoin OP 10 Dec

that's fiat mentality... in Bitcoin we deal with sats not dollars

7 sats \ 0 replies \ @saunter 10 Dec

That's why we chose to price it in sats in the beginning. But then suddenly the subscription got 2x more expensive for our users in a matter of few weeks.

0 sats \ 1 reply \ @Alby 10 Dec

We will eventually find you, sir.

0 sats \ 0 replies \ @Alby 10 Dec

We will keep reminding you until eventually your instance might get shut down ;)

Please keep your backup in this case!

49 sats \ 3 replies \ @kilianbuhn 10 Dec

The custodial version will be killed, the payed version is unattractive and the selfhosted is just one self hosted possibility besides many

Albys userbase will drop like a rock.

22 sats \ 0 replies \ @Alby 10 Dec

hopefully not! We have few aces up our sleeves to make it more attractive.

And recall that Alby Extension, Alby Go, Alby Hub are open-source and their userbase constantly grows <3

0 sats \ 0 replies \ @Solomonsatoshi 10 Dec

coinos.io offers a much simpler easier cheaper option at least for newbies and non techs.

0 sats \ 0 replies \ @zapsammy 10 Dec

if Alby can continue to offer a wide array of services, including internet-on-the-go, VPN, relays, etc. on an ongoing basis, maybe this will be worth the 21k sats, haha.

in a few years i might also want an all-included boat cruise around the Americas twice a year, for that monthly membership fee.