As much as I like Bitkey for its simplicity, somehow it feels it could be fleshed out better.

As some have pointed out, you can’t consolidate your funds with it, ie you can’t send to yourself.

It’s super simplistic (which is a good thing, but not always) in things it can do. I mean, ok get it, it’s Bitcoin only so all kinda trade functions are probably difficult without any exchange behind.

But it seems to be geared on for daily use (with the mobile pay option, which I like - and never used) but then it really needs to support Lightning. Nobody’s using on-chain for small purchases that mobile pay enables.

Running our own lightning node, I can’t imagine how it would scale on Bitkey’s installed base. Then you have the liquidity nightmares that necessarily come with it (especially if/when you don’t charge for it, see phoenix which I like to like but can’t like as it just simply doesn’t work for me)

Due to the lack of lightning offers, I often use ETH nowadays :-( 

@jack surely’d have the means to equip Block with said means to run lightning for all bitkey users without charge, but will they do it? 

I love lighting and wish more people would use it and more services would accept it… 

 I'm curious about it, doesn't it have to go through a server from the client to make the request? Other than a bitcoin node? Is the daily limit functionality opt-in or opt-out? I'm a bit sketch out by that. But then again, the original post is asking about a hot wallet setup. 

 Sorry didn’t see this.. you can set the daily limit, I think down to 0 and up to 200

It’s a 2/3 signatures transaction. You are holding two keys (in the Bitkey and the Phone App and Bitkey holds the third key.

Any two out of three keys can sign a transaction.

Ie. For the daily thing to work, it needs Bitkey’s servers to cooperate as you’re just using your phone and bit key’s key for signing off the transaction. Hth 

 Right but isn't that making a request to where that Bitkey key? So if their server goes down that you can send as much as like? Would it prevent funds from being sent? 

 Sorry if my answer was confusing. 

There are three keys 

In the Bitkey device
In your phone storage
On Bitkeys servers 

Any two of them TOGETHER can make a transaction. 

The daily limit transaction uses your phone storage and the Bitkey server key. This needs Bitkey server cooperation. 

Since two out of three signatures are required, Bitkey server signature alone is not enough. They always need you to also sign it (with the phone storage key). This is just for the daily transaction thing where you might not have your Bitkey device with you 

Normally, the Bitkey hardware and phone storage key is used to sign a transaction. All should happen on the phone with help of your Bitkey device (you need internet for the blockchain access of course, I believe via electrum server)

Bitkey themselves cannot access your funds, no. They only have one out of a minimum of two required keys to sign a transaction.