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325 sats \ 6 replies \ @nerd2ninja 8 Nov 2022 \ parent \ on: Continuing the controversy about Muun bitcoin
The fees are theoretical based on a country of people using the same wallet. I personally would be suggesting Phoenix wallet, knowing that I have to take the time to explain lightning addresses vs on-chain addresses, knowing I'll have to explain backup seed phrases, knowing I'll probably have to pay her first 10k sats so doesn't freak out at the initial fees that phoenix has.
Yeah, the channel opening fees can be quite dramatic in the beginning I think.
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But I'm saying that I believe strongly enough in this to pay the fees myself.
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Yeah. Also good opportunity to explain more about how LN works.
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It's 1% iirc. I don't think that's dramatic. But that's me, a relatively wealthy Westerner...
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It's 1% with 3000 sats as minimum. It's not a lot in "absolute terms" but it's a lot if you just got onboarded to LN and the first thing you have to do is to pay 3000 sats which is more than for a on-chain tx.
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Non-custodial lightning is always going to cost at least an on-chain tx. That's just the inherent economics.
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