Bitcoin Forum
April 28, 2024, 07:14:12 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 2 [3]  All
  Print  
Author Topic: Opinions on Phoenix Wallet?  (Read 1415 times)
cygan
Legendary
*
Online Online

Activity: 3136
Merit: 7711


Cashback 15%


View Profile WWW
December 07, 2023, 02:58:01 PM
 #41

seems to work now. i set the limit to 10k sats for the fees and it works as i imagined - last transaction with fee of 24 satoshis Cool

.
.HUGE.
▄██████████▄▄
▄█████████████████▄
▄█████████████████████▄
▄███████████████████████▄
▄█████████████████████████▄
███████▌██▌▐██▐██▐████▄███
████▐██▐████▌██▌██▌██▌██
█████▀███▀███▀▐██▐██▐█████

▀█████████████████████████▀

▀███████████████████████▀

▀█████████████████████▀

▀█████████████████▀

▀██████████▀▀
█▀▀▀▀











█▄▄▄▄
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
.
CASINSPORTSBOOK
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
▀▀▀▀█











▄▄▄▄█
1714288452
Hero Member
*
Offline Offline

Posts: 1714288452

View Profile Personal Message (Offline)

Ignore
1714288452
Reply with quote  #2

1714288452
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1714288452
Hero Member
*
Offline Offline

Posts: 1714288452

View Profile Personal Message (Offline)

Ignore
1714288452
Reply with quote  #2

1714288452
Report to moderator
1714288452
Hero Member
*
Offline Offline

Posts: 1714288452

View Profile Personal Message (Offline)

Ignore
1714288452
Reply with quote  #2

1714288452
Report to moderator
Kruw
Member
**
Offline Offline

Activity: 378
Merit: 95

assumevalid=0 and mempoolfullrbf=1


View Profile WWW
December 08, 2023, 11:23:41 AM
 #42

If you don't have a channel yet, you'll need to open at least one.

In Phoenix 2.X you always have only one channel open thanks to splicing.  It's a huge upgrade that I can't wait to come to other Lightning wallets.

You can use Bitcoin privately without giving up custody: https://mempool.space/tx/d465033214fd2309dcce5a90c45fcaa788aa4394ee36debe07aad8d8a37907d2
^ Participate in coinjoin transactions like this with Wasabi Wallet ^
Nostr: npub1pww7030g95nv9ptfpgfu69jpfxj6pm33xxueztsupwekce45wx4sm6en60
internetional
Legendary
*
Offline Offline

Activity: 1456
Merit: 1685



View Profile WWW
December 26, 2023, 08:20:34 AM
Merited by LoyceV (4)
 #43

I still have a few open channels in Phoenix Wallet (created years ago, when on-chain fees were much lower).
Those channels are almost empty, but have receiving liquidity. There's no point for Phoenix Wallet to close them, as it would only cost them transaction fees.
A closure of such channels may make sense for Phoenix. I guess, many Phoenix users have given up using their wallets with zero balance. And now Phoenix should have a lot of outbound liquidity in such channels. But Phoenix cannot use it, because other sides of all those channels are “leaves” of the LN, so they don’t route transfers. The further, the more Phoenix’ money are locked in such channels. There must be a moment when Phoenix cannot afford too lock as much money. At that moment, the channels will be closed.

It’s better for them to close those channels when onchain fees are not too high. But the more popular Bitcoin becomes, the more people want to make transactions. So, the probability of small fees are not very high in the future. Phoenix must decide soon, what to do with such channels.   
NotATether
Legendary
*
Online Online

Activity: 1582
Merit: 6696


bitcoincleanup.com / bitmixlist.org


View Profile WWW
December 26, 2023, 10:53:24 AM
 #44

Phoenix is also mobile-only.

I get that people are going to be tipping more with their phones, but why are the vast majority of lightning wallets either mobile apps or browser extensions?

Is there no incentive to make desktop applications for it like there is for Nostr?

Although having said that, most lightning wallets are centralized so I guess that doesn't really matter.

.
.BLACKJACK ♠ FUN.
█████████
██████████████
████████████
█████████████████
████████████████▄▄
░█████████████▀░▀▀
██████████████████
░██████████████
████████████████
░██████████████
████████████
███████████████░██
██████████
CRYPTO CASINO &
SPORTS BETTING
▄▄███████▄▄
▄███████████████▄
███████████████████
█████████████████████
███████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
███████████████████████
█████████████████████
███████████████████
▀███████████████▀
█████████
.
LoyceV
Legendary
*
Offline Offline

Activity: 3290
Merit: 16561


Thick-Skinned Gang Leader and Golden Feather 2021


View Profile WWW
December 26, 2023, 10:57:41 AM
 #45

A closure of such channels may make sense for Phoenix.
You're right, my reasoning was wrong. Most of the funds are locked on Phoenix' end of the channel, and they locked even more than I deposited. Makes me wonder how profitable this is for them: it looks like they're just HODLing their funds in open channels, but they can't earn much unless people send and receive many transactions.

█▀▀▀











█▄▄▄
▀▀▀▀▀▀▀▀▀▀▀
e
▄▄▄▄▄▄▄▄▄▄▄
█████████████
████████████▄███
██▐███████▄█████▀
█████████▄████▀
███▐████▄███▀
████▐██████▀
█████▀█████
███████████▄
████████████▄
██▄█████▀█████▄
▄█████████▀█████▀
███████████▀██▀
████▀█████████
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
c.h.
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
▀▀▀█











▄▄▄█
▄██████▄▄▄
█████████████▄▄
███████████████
███████████████
███████████████
███████████████
███░░█████████
███▌▐█████████
█████████████
███████████▀
██████████▀
████████▀
▀██▀▀
dkbit98
Legendary
*
Offline Offline

Activity: 2212
Merit: 7076


Cashback 15%


View Profile WWW
December 26, 2023, 05:03:39 PM
 #46

I get that people are going to be tipping more with their phones, but why are the vast majority of lightning wallets either mobile apps or browser extensions?
There is a difference if you are you talking about custodial or non-custodial LN wallets.
I know only one or two desktop wallets that supports Lightning Network, but developers are probably thinking that most people would more likely spend LN in coffee shops and similar places using their phones.

.
.HUGE.
▄██████████▄▄
▄█████████████████▄
▄█████████████████████▄
▄███████████████████████▄
▄█████████████████████████▄
███████▌██▌▐██▐██▐████▄███
████▐██▐████▌██▌██▌██▌██
█████▀███▀███▀▐██▐██▐█████

▀█████████████████████████▀

▀███████████████████████▀

▀█████████████████████▀

▀█████████████████▀

▀██████████▀▀
█▀▀▀▀











█▄▄▄▄
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
.
CASINSPORTSBOOK
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
▀▀▀▀█











▄▄▄▄█
Wind_FURY
Legendary
*
Offline Offline

Activity: 2898
Merit: 1823



View Profile
December 28, 2023, 05:05:22 PM
 #47

A closure of such channels may make sense for Phoenix.

You're right, my reasoning was wrong. Most of the funds are locked on Phoenix' end of the channel, and they locked even more than I deposited. Makes me wonder how profitable this is for them: it looks like they're just HODLing their funds in open channels, but they can't earn much unless people send and receive many transactions.


But because Phoenix is building an app that wants to give its users a good UX when using the Lightning Network, then they need to accept the opportunity-cost and boot-strap the the network with liquidity from their own wallet. They may currently not earn much today, but given the need for layered privacy and low fees for small transactions, it could help increase the demand for payment channels.

██████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
██████████████████████
.SHUFFLE.COM..███████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
█████████████████████
████████████████████
██████████████████████
████████████████████
██████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
██████████████████████
██████████████████████
██████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
.
...Next Generation Crypto Casino...
Pages: « 1 2 [3]  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!