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Friday, 25 June 2021

Lightning-Ready?

Firstly, I’ve been a fan of BitcoinCash since day 1 and have pretty much ignored BTC for BCH since then due to so many reasons, but tried to at least keep up on all the “improvements” to BTC over the years, SegWit, Lightning, etc., even if I see them with BCH-biased eyes most of the time.

Recently I decided to finally actually try setting up a Lightning wallet, via BlueWallet, and funding it directly from a small Coinbase purchase.

I gotta say it worked flawlessly, small withdrawal fee from Coinbase, batched transaction of course, 50s/B or so, $0.65, and then I used it on Lightning for a web purchase, even lower fees obviously.

So my question is, please do your best to remind me why I shouldn’t go back to at least sometimes using BTC via Lightning this way.

Is the BlueWallet flawed, not really open source, or non-custodial?

Is the Lightning Node they use compromised or something? Or could be?

I realize it’s now off-chain, and potentially censor-able, but has that ever happened yet?

How could it with this public open-source node?

Am I at risk of a low liquidity channel freezing my funds or something?

Are my transactions less anonymous than BCH? (not including CashFusion of course) or actually even more anonymous via Lightning & Tor?

Ok, thanks. I’ve literally only made this one BTC/Lightning transaction, so genuinely interested in hearing reasons, from both sides, on pros & cons before doing more…

Thanks.

submitted by /u/megability
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