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tonktonk | 1 years ago (raw) | root | parent | reply | flag 
 I don't really know about Phoenix, is it same than Breez wallet (neutrino). If the devs want to rug pull, can they steal all the satoshis of their clients ? Neutrino makes spawm a node on your android, and you have private keys to spend on the channel, so they could prevent you from spending but I don't see how they can steal funds
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nerd2ninja; ©️📺 | 1 years ago (raw) | root | parent | reply | flag 
 Yes Phoenix is very much like breez. You can even force close your channels and back up from the on-chain seed phrase.

However, Phoenix does allow ACINQ to publish an old channel state so that's one of the risks. Still a better model than full custodial in my opinion.
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nerd2ninja; ©️📺 | 1 years ago (raw) | root | parent | reply | flag 
 Yes Phoenix is very much like breez. You can even force close your channels and back up from the on-chain seed phrase.

However, Phoenix does allow ACINQ to publish an old channel state so that's one of the risks. Still a better model than full custodial in my opinion.
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nerd2ninja; ©️📺 | 1 years ago (raw) | root | parent | reply | flag +1 
 Yes Phoenix is very much like breez. You can even force close your channels and back up from the on-chain seed phrase.

However, Phoenix does allow ACINQ to publish an old channel state so that's one of the risks. Still a better model than full custodial in my opinion.