[Tutorial] BlueWallet - Bitcoin Wallet Discussion - page 6.

cygan

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Quote from: dkbit98 on February 23, 2023, 05:44:36 PM

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There is one interesting chart from BitPay showing what are the most used LN wallets, Wallet of Satoshi, Muun and CashApp have much bigger share than Blue Wallet.

https://bitpay.com/blog/lightning-strikes/

in addition to your presentation, i found an interesting list that shows what is possible with the respective ln wallet and what not

LoyceV

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Quote from: Pmalek on February 24, 2023, 03:15:18 PM

Blue Wallet doesn't seem interested to do it anymore.

My only guess is it wasn't profitable.

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I am not sure anyone else will take their place, especially since you can host your own nodes using the same service.

I never tried, I always thought it's a lot of work. But it would for sure require opening my own channels, which is what I try to avoid (for small amounts).

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If I needed a simple way to send small amounts of LN coins on a regular basis, I wouldn't mind using a custodial service for that.

That's why Phoenix Wallet is my favourite alternative: it's custodial while opening the channel, but after that it's all yours. They charge a 1% fee though while opening, with a 3000 sat minimum.

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Worst case scenario, I lose my $1.70 in BTC. Congratulations you criminal mastermind. You really messed me up by robbing me of my wealth.

I don't mind this either. People are often in favour of self custody, but we're talking about crummies here. Meanwhile, milllions of people keep their Bitcoin on exchanges, trust them for years, and once in a while they lose everything.

Pmalek

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Quote from: LoyceV on February 23, 2023, 03:02:16 PM

Does that mean someone else could setup a custodial wallet that works on BlueWallet again?

Blue Wallet doesn't seem interested to do it anymore. I am not sure anyone else will take their place, especially since you can host your own nodes using the same service. If I needed a simple way to send small amounts of LN coins on a regular basis, I wouldn't mind using a custodial service for that. Worst case scenario, I lose my $1.70 in BTC. Congratulations you criminal mastermind. You really messed me up by robbing me of my wealth.

LoyceV

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Quote from: dkbit98 on February 23, 2023, 05:44:36 PM

Quote from: LoyceV on February 23, 2023, 03:02:16 PM

Now I'm down to only using Phoenix Wallet for LN transactions.

Have you tried any other wallets ^{(except Blue Wallet)}?

I tried many (but not recently). I started with Eclair, and I've also used Tippin.me and Wallet of Satoshi. I realized I don't like the uncertainty of opening channels, in Eclair for instance I didn't like how the reserved amount changed all the time (I think depending on on-chain fees, with some delay), and I didn't like when it did CPFP at a high fee closing my channel because my opening transaction took too long to confirm.

Lightning Network Stores.com shows more options for custodial wallets:
Wallet of Satoshi
Lastbit
Buda.com
Bitpie (I've used this one in the past for Forkcoins, but didn't like it)
Tippin.me
Bottle Pay
Strike.me

Switching wallets doesn't go well with my level of distrust for new software. I try to install as little unknown software as possible, so I'll need to do it on my kid's tablet again Tongue

dkbit98

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Quote from: LoyceV on February 23, 2023, 03:02:16 PM

Now I'm down to only using Phoenix Wallet for LN transactions.

Have you tried any other wallets ^{(except Blue Wallet)}?

Quote from: cygan on February 23, 2023, 03:10:27 PM

that is really too bad. i have never used blue wallet until now - my favorite is still the zeus wallet

It's not that bad because Lightning in Blue Wallet was custodial with LndHub, and they are working on non-custodial lightning use, that will come back in future.
Electrum desktop wallet can also be used for LN, but I don't think they have that option in mobile Electrum wallet.
There is one interesting chart from BitPay showing what are the most used LN wallets, Wallet of Satoshi, Muun and CashApp have much bigger share than Blue Wallet.

https://bitpay.com/blog/lightning-strikes/

cygan

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Quote from: LoyceV on February 23, 2023, 03:02:16 PM

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I still have 10k sats left in it, but don't have the device anymore and couldn't find the backup so they can keep it.
Now I'm down to only using Phoenix Wallet for LN transactions.
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that is really too bad. i have never used blue wallet until now - my favorite is still the zeus wallet

LoyceV

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It's confirmed on BlueWallet.io:

Quote from: Pmalek on February 23, 2023, 02:52:22 PM

the custodial service will shut down, but users can still host their own nodes and continue using the Blue Wallet with the LN.

Does that mean someone else could setup a custodial wallet that works on BlueWallet again?

Pmalek

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Quote from: aylabadia05 on February 22, 2023, 01:06:11 PM

Because you may have enabled Encrypted and Password Protected in the security section of the mobile version of the BlueWallet App, thus making the security level stronger if one day the Android or Iphone is lost...

You should always password-protect and encrypt your wallets if given the choice or abandon clients that don't offer such services. But it isn't that important in this case because no coins can be stolen, with or without passwords and encryptions.

Quote from: cygan on February 23, 2023, 02:37:45 PM

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Today, we are announcing that the Lightning node, Lndhub.io, where BlueWallet provides Lightning wallets to its users, is sunsetting.

Too bad. This was a decent custodial service for the Lightning Network although I read that people weren't really pleased with the fees and that the routing didn't always work. As the blog post highlights, the custodial service will shut down, but users can still host their own nodes and continue using the Blue Wallet with the LN.

cygan

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Quote

Today, we are announcing that the Lightning node, Lndhub.io, where BlueWallet provides Lightning wallets to its users, is sunsetting. While you can still withdraw your sats, creating new or refilling existing Lightning wallets on LndHub node will no longer be possible.

https://bitcoinmagazine.com/business/bluewallet-to-sunset-custodial-lightning-wallet-service

https://twitter.com/BitcoinNewsCom/status/1628832894385790978

alexeyneu

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with say electrum client you have electrum-server . so i prefer closed source coinomi

aylabadia05

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Quote from: virasog on February 21, 2023, 10:12:57 PM

The best thing i like about blue wallet and started using it recently is the read only wallet, where I can watch my bitcoin balance in my wallet on my android phone

Being able to see the assets stored in the wallet easily with just a hand is a joy in itself.

Quote from: virasog on February 21, 2023, 10:12:57 PM

and feel safe even if my android phone is lost no one can get access to my coins.

Because you may have enabled Encrypted and Password Protected in the security section of the mobile version of the BlueWallet App, thus making the security level stronger if one day the Android or Iphone is lost, although we still keep the phrase in the safest place to be truly protected.

I think enabling Encrypted and Password Protected in Blue Wallet is very necessary to do, including in other wallets.

Anyway, here's how to enable Encrypted and Password Protected on Android;
1. Open the Blue Wallet App and Click the three dots button on the top right corner to enter the settings menu,
2. Select Security,
3. Scroll the Encrypted and Password Protected button,
4. Enter the desired password.

Topic: [Tutorial] BlueWallet - Bitcoin Wallet Discussion - page 6. (Read 3589 times)