So many lightning companies are getting rekt right now by compliance, I know first hand.

I think rug risk is up a LOT right now.

If you just keep a balance in a custodial wallet, for zapping, keep it to an absolute minimum and be ready to truly lose it.

If you have more than you want to lose, but not enough to justify on chain fees, consider swapping them for L-BTC on boltz.exchange

Imho


There's no such thing as a lightning company.

nostr:nevent1qqs8g6vlc9r7t7x4cnucpnpxxq6z2p0r6c7r6axd8lkzg4f6cv0vw5spzpmhxue69uhkummnw3ezuamfdejsygxezxg7xrsqg39egtqwst9dgu9n9tchzajvyf6mac9anymhal2qw5psgqqqqqqsky8rmf


I have created a #blockstream #green wallet but I know nothing about liquid btc yet 😕

lq1qqwzale3np3gqewthneq5rz6qx8u90hj8rz3vg2axt7lrv7nuw99tca9qkfhqmlmx0r23mg89uupre8qfys6wgca2x0u4alymr https://image.nostr.build/37d4771e882feb98f059b5e51c9912aee42696f19ce426b70221ce94f6fd93b3.jpg


Either play by the rules or build around them. Either way, we can help with the engineering lift.
Reporting needs on the compliance side versus scaling and liquidity on the other side.


daily reminder that companies do not need the validation of the state.
companies will exist in anarcho capitalism


This 👆


In your case, were you incorporated in Canada? It’s Canadian law they allege you breached right?


From: nostr:npub1aeh2zw4elewy5682lxc6xnlqzjnxksq303gwu2npfaxd49vmde6qcq4nwx


I have $20 in WoS.
I don't think it'll vanish.
But we'll see....


You'd think that Bitcoiners would be the first to embrace this concept if it was feasible,
 but they all keep registering with the State and calling themselves Bitcoin/lightning/nostr companies.


Member that time elon was a rich and powerful gobermint titsucker and accepted corn for teslas for like a week and then fudded bitcoin and stopped and people said lightning exists and he was like “dO yoU neEd a MonEy tRansMitTer liCenSe fOr tHat?” and then a year or two later he told everyone Xitter™ would be an everything app and people will do all their banking there and at about that same time lightning companies started getting rugged by compliance demands?

Kinda interesting. If gobermint accepted bribes and stuff this might be a fishy sequence of events. So glad we live in The Greatest Country in the World™ and so this is all just a big coincidence


Most people are all talk.

No action.


Another way to look at it is if you get rugged by a Bitcoin or lightning company because the State made them comply, you only have yourself to blame for using a branch of the state as your interface to a technology that exists to undermine the state.


In this case, Liquid is not an option.


Why?


Lightning is a centralizing force.


Another reminder that there is no such thing as a Bitcoin company.

The State is not going allow "Bitcoin companies" to undermine the state's ability to control the monetary system. If they would allow this, we wouldn't need Bitcoin in the first place.

If you use a registered company to interface with Bitcoin, the company *will* comply and you *will* be rugged. No other outcome is possible.

A registered company is not free enterprise, it's controlled opposition.

nostr:nevent1qqsvd6l997aysfvvjm5fkystgenpprn8mnzvg9qum6k29ncvmj3y3wgpzemhxue69uhhyetvv9ujumn0wd68ytnzv9hxgq3qutx00neqgqln72j22kej3ux7803c2k986henvvha4thuwfkper4sxpqqqqqqz32nw2w


Because same problem remains. Liquid is #Bitcoin IOU, not #Bitcoin.

Trust is required to reedeem(peg out).
nostr:note1hqcvj22tlxn63zq4n3aq82tvv59g99gff9t0m579hkufznn4c98qfl8hga

There is a backdoor which can be accessed by blockstream.
nostr:note1u25r5kvmxtcn30cjjuek4dfaajvws36jd2n80w8p8mdpmcw3dlqssgtnu2

It will repeat the history of gold.
nostr:note1e5y680tlw6ejxu2mzfvwdapzju9h3ya56e39vaf343vcteuw95vq6tyv4a


If you think alby is safer then you do you.


you can use https://boltz.exchange/swap to swap between btc-liquid-sats

ojo. parece que la greenwallet tiene un bug escaneando un qr para la direccion destino. xq despues no puedo editar el monto. solucion: copiar/pegar la direccion destino en modo texto


Looking into this. And thanks for the l-btc starter. Also think enuts is a good place to have a small amount of sats sit. What di you think?


At this point in cashu life and the mints it's all very experimental, not appropriate to store anything meaningful right now imo


So many lightning companies are getting rekt right now by compliance, I know first hand.

I think rug risk is up a LOT right now.

If you just keep a balance in a custodial wallet, for zapping, keep it to an absolute minimum and be ready to truly lose it.

If you have more than you want to lose, but not enough to justify on chain fees, consider swapping them for L-BTC on boltz.exchange

Imho


Ya. Im not able to cash out of cashu. Just checked 😮💨
https://image.nostr.build/e275b65ccea4ed9ab6428b9b63ed54b177a829169a23743ef6c03ee066d615e2.jpg#m=image%2Fjpeg&dim=864x1920&alt=Enuts+%27paystatus%27+error&blurhash=%5BKPs*Kj%5Bt8j%5B%7EEfQS1fQ0xfQr%40fQ%5E%2CfQV%40fQ9Ef6offQ-pfQX8fQM%7CfQayfQpHfQo2fQrafQWUfQ&x=c26c04d51bfadf39ad87a7ff256262e60d990700932192297976371b2e989802


Signal


I moved everything out, but the satograms kept coming in. Impossible to empty the thing.


Yeah I’ve finally been reading about Liquid. Early on still, but my initial, likely to be inaccurate impression is it just custody with more steps?


Custodial*
The difference is kinda crucial 😂😅


Yeah I've also redcued my LN custodial exposure, really just stacker news that I haven't, and moved to using Greenlight for some of my LN for now, consoldating all my balances on liquid and now moving on-chain and taking that punch in the teeth fee lol


It is really a pitty.
What would you recommend now? I had nodeless plugin on my wordpress shop.


The hard lesson that doing business in socialist US is not only painful, but probably destructive to your business.
The next century is looking more and more as if it will be written in another place. The US is choosing war with BTC and will not likely win that war.


👀 👀 👀

nostr:note1cm472ta6fqjce9hgnvfqk3nxzz8x0hxycs2peh4v5t8seh9zfzusvdcxde


Do any P2P exchanges offer fiat for L-BTC trades yet? I was playing around with swapping from lightning to L-BTC over the weekend but I’m thinking I’d like to skip a step and on-ramp my fiat for L-BTC directly.


Going to ask a second question too. From what I understand Breez is non custodial lightning on my phone, but to be honest I really don’t like the opaqueness of it. Is this less risky than say an Alby but more risky than running my own lightning node?


Don't get rugged. Being your own bank may not be the easiest thing you'll ever do, but it will be one of the most rewarding.

nostr:nevent1qqsvd6l997aysfvvjm5fkystgenpprn8mnzvg9qum6k29ncvmj3y3wgpz3mhxue69uhhyetvv9ujuerpd46hxtnfdupzpckv7l8jqspl8u4y54dn9rcduwlrs4v2040nxce0m2h0cunvrj8tqvzqqqqqqyq5c0fy


What you asked is, "Is Liquid custodial or not?", it is custodial. But, to me, it is worse than other custodial services and it is just one of shitcoins. Liquid clouds #Bitcoin-ers' eyes. I dare saying it is a #Bitcoin affinity scam.

LN is layer 2, not product of one company. Custodial LN is product. Some people run their own LN nodes. Some people use custodial LN with considering tradeoffs. To me, it is acceptable whether I use or not.

Liquid is different from LN. It is hyper centralized in the first place. It is product of Blockstream. Some people use Liquid with considering tradeoffs. To me, it is not acceptable. Stacking liquid instead of #Bitcoin due to the low fee is equal to stacking paper gold instead of gold due to the interest. It will repeat the history.


There's nothing opaque about Breez. on the contrary, you have full access to the underlying node, you can see exactly what is going on...


Moving more out of my custodial lightning to Liquid now!


Can you zap using liquid? Would it be called a squirt?


BullBitcoin does.... But maybe only for Canadians?


Phoenix wallet seems to me like the best middle ground. They have automated channel management so *I think* that eliminates some risk that managing your own node might pose.
You still secure your own keys, still have to pay to open channels etc.
There is also a new feature called 'add liquidity' that let's you pay a certain percentage fee of transactions, but you're guaranteed to have a large enough channel available.


I don't think that's what they're saying.
I think they're suggesting that LN offers choice by way of having a product which companies can then offer by way of custody, but also said product can be utilised without such companies and taken up by ourselves.

Whereas in Liquid you can't, at all, have that same choice. The infrastructure is a federation (of 16?) corporate entities. Users have no way to run their own infrastructure.

As much as we're going through a rough patch with lightning, truth is, EVERYONE is free to take their sats and run their own nodes, especially nowadays with things like nostr:npub1xnf02f60r9v0e5kty33a404dm79zr7z2eepyrk5gsq3m7pwvsz2sazlpr5 Wallet allowing anyone to run their own mobile wallet (it's still in beta, but close.) - That's the distinguishing feature here and as much I have my own uncertainties about lightning, it's something worth protecting rather than jumping boat to something that just seems to work, potentially because it has very little usage compared, without really looking behind those curtains.


No longer in beta. We’re on both app stores now too


Hello nostr:npub1xnf02f60r9v0e5kty33a404dm79zr7z2eepyrk5gsq3m7pwvsz2sazlpr5 friend,
I installed v 080 arm64 from github and now it shows my channel with you as inactive and the UI channels page  is blinking nonstop.
Suggestions? Should I just wait for next release or nuke and install from playstore from now on?
https://image.nostr.build/8544add787cac727a8cb7322b32f82f05fb858bbf1c517b74486306c377d3501.gif


So many lightning companies are getting rekt right now by compliance, I know first hand.

I think rug risk is up a LOT right now.

If you just keep a balance in a custodial wallet, for zapping, keep it to an absolute minimum and be ready to truly lose it.

If you have more than you want to lose, but not enough to justify on chain fees, consider swapping them for L-BTC on boltz.exchange

Imho


Try disabling auto redeem in Lightning address settings


That fixed the blinking :).
But channel remains offline/Olympus peer status inactive. Deleted cache, restarted, same.
👀
https://image.nostr.build/d48025586d529dd9f50a98c79b17fb02590978f8a32e688e394cc50d583d91a1.jpg


Sometimes the node just conks out, and eventually resolves itself and works again (maybe Evan turns it on and off again, lol).

Try refreshing from the channel screen, and see if that changes anything. Nine times out of ten, it does.


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