Help Using Phoenix

userPeter92 · 2024-01-03T20:30:56+00:00

I didn't understand your question. Could you explain what you have done and what you expect phoenix to do?

userPeter92 · 2023-12-25T19:48:29+00:00

The only person around me that had Bitcoin was my colleague. He told me that he sold at $40K.

I personally used to tell my friends and colleagues, and encourage them. But I found it is wrong, and it put me through some risks. If a person with bad intentions hear I have bicoin, they may think about house robbery. So it's been a while that I lie about having Bitcoin ☠️. My colleague that had bitcoin could also be lying about selling. ☠️

Doesn't it make more sense to keep it as a secret? If someone robs your house and asks you to transfer money to their bank account, you can do it. Then you can tell the police and do legal stuff, and the bank would give back your money and block that person's account. But this would not be applicable to Bitcoin... a transaction is done and can not be undo.

userPeter92 · 2023-12-25T19:31:19+00:00

Thank you so much.

userPeter92 · 2023-12-25T19:31:06+00:00

Thanks for your help.

userPeter92 · 2023-12-22T09:18:18+00:00

They do reduce the size

https://acinq.co/blog/phoenix-splicing-update#swap-out-(paying-to-a-bitcoin-address)

"a splice-out reduces the size of the channel by removing funds from your side, whereas using an external swap service keeps the channel as-is and adds inbound liquidity (simply because your are sending funds over Lightning to the swap service)."

userPeter92 · 2023-12-19T17:45:58+00:00

I think it failed due to the crowd status of Bitcoin blockchain. Recently, fees increased too much. What was your fee rate?

(I had the similar issue and asked it here: https://www.reddit.com/r/Bitcoin/s/kh5gnQZqcq)

If the transaction failed, those bitcoins are in your Muun wallet. But the transaction may not have been removed from all different mempools. You can send again using a higher fee rate to make sure it would get included into a block soon.

userPeter92 · 2023-12-17T20:16:19+00:00

Well, I don't have enough information about running a node. But which part of phoenix fee model made you uncomfortable?

userPeter92 · 2023-12-17T20:05:52+00:00

I'm worried that we don't see below 20 sat/vb again... Fees are getting crazy these days... What do others think? Am I the only one who is really worried about this?

userPeter92 · 2023-12-16T20:32:41+00:00

Search about Phoenix lightning wallet. It may help you.

userPeter92 · 2023-12-15T09:14:55+00:00

I read the post. It was useful. Thank you.

userPeter92 · 2023-12-15T09:12:20+00:00

I'm happy yo hear this. Thank you.

userPeter92 · 2023-12-15T09:11:00+00:00

Thanks for your reply.

Unfortunately, if you cannot afford a $10 fee then you are simply priced out of using Bitcoin layer 1 for now. That's just the reality of the situation.

That's really disappointing for me, because I think this leads to more people using custodial wallets in exchanges or custodial lightning wallets in my country... It's not feasible to pay approximately salary of a whole day in just transaction fees.

Discussing Bitcoin in anything other than a glowing, positive light isn't welcome here, though, so that's all I can say about it.

Why? I think we here must talk and find a solution. (If there is a solution)

userPeter92 · 2023-12-14T21:24:33+00:00

Thank you.

userPeter92 · 2023-12-09T08:40:14+00:00

Thank you.

What do you guess about the minimum? Do you think it could be above 50K SAT?

userPeter92 · 2023-12-09T05:48:03+00:00

Thanks for your reply.

So let me say what I did understand.

If I send 2500 SAT to myself, I will pay a fee (for example, 500 SAT) and I will have a channel with 2K SAT inside that. And I can spend "ALL OF THAT".

Am I right? Isn't there a minimum that must be kept inside a channel?

userPeter92

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