TL; DR: Splicing changes the game. Phoenix now manages a single dynamic channel, no more 1% fee on inbound liquidity, better predictability and control, trustless swaps.
Have been using it for ages now, probably the best entry level app for lightning atm
What is the splice mining fee in USD? If your main wallet is on BTC, then Phoenix is still mainly ideal for small payments right? (example: for 150+ usd tx, it’s better to just use Bitcoin blockchain directly right? with a fixed fee of 0.50-0.80 USD atm)
But without that 1% fee when depositing on Phoenix, maybe I’d use Phoenix more often.
I’m still going to treat it as a hot wallet, just saying it’s an easy entry point to learn/test the lighting network
Yes. There I agree. I was struggling a bit with other lighting networks. In phoenix it was easy and deposited around 60 bucks. So if I find some coffee shop that accepts it I’m ready to try.
Glad to hear it!
