I've been using @SimpleBtcWallet for a couple of weeks now

+ full mobile #lightning node and #bitcoin wallet
+ coin control
+ pay to lightning address
+ connect your own electrum node
+ hardware wallet support

Here is how to set it up fully non-custodially.

🧵1/8 Image
2/8 Download from F-Droid:
f-droid.org/en/packages/co…

or from GitHub:
github.com/btcontract/wal…

or the Google Play Store:
play.google.com/store/apps/det…
3/8 Create a new wallet. Make sure to write down your wallet recovery phrase (so you can recover the wallet if you lose your phone). Once the wallet is created click "receive" to get on-chain #bitcoin to your wallet from your original wallet. ImageImageImage
4/8 As soon as the wallet sees the on-chain transaction (can still be unconfirmed), you can open your non-custodial channel to the zero fee routing node by clicking "lightning" and "scan node QR" ImageImage
5/8 Make sure to scan this QR code to connect to the zero fee routing node: Image
6/8 Next you can set the size of the channel. The wallet allows you to use up all your on chain funds by clicking "max". Make sure to set 1 sat/vB fees first. Confirm in the next screen. The transaction will show up in the wallet right away. ImageImageImage
7/8 once the opening transaction has thre confirmations, you can use the channel. For example for tipping me via @LightningTipB0t using my address zerofeerouting@ln.tips
And since you're using my node to send the lightning transaction to the tipbot, it's completely free. ImageImageImage
8/8 If you don't want to run the risk of accidentally receiving a lightning payment via the hosted channel that comes with the wallet, you can safely remove it by clicking lightning, swiping the channel to the right and clicking the "x". Image
Addendum: I just learned from @leffw_ it even allows you to split lightning invoices with your friends. Sleek!

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More from @zerofeerouting

Apr 7
Dear merchants: If you're using @BitPay to allow your customers to pay in Bitcoin, you're doing yourself and your customers a disservice.

👇
First of all, your users will be required to verify their identity by passport or other government issued id, which will result in funnel exits.

Additionally @BitPay charges a minimum 1% transaction fee.

Switch to @BtcpayServer - the free and open source alternative.

👇
You can install @BtcpayServer on your own hardware and become self-sovereign, independent of gaslighting companies like @BitPay.

Bonus: If you've already integrated BitPay, the switch to @BtcpayServer is seamless, since the API is identical.
Read 4 tweets
Apr 5
I've updated my channel script to reduce locally failed forwards. Thanks @nitesh_btc for pointing it out.

If I don't have enough liquidity on my end, I will increase the basefee within 1 minute, to avoid routing failures.
If I have enough liquidity again, I will decrease the fee within 1 minute as well.
If you already had a decrease in fees within the last 12 hours, I will wait until the last decrease in fees was 12 hours ago, in order to not spam the gossip in the lightning network.
This results in a theoretical maximum of 4 updates per channel per day.

Will check back tomorrow to see how the local_failed forwards have decreased.

Feel free to share your feedback/ideas.
Read 4 tweets
Feb 24
If you're using the default (custodial) channel that comes with @SimpleBtcWallet you may be at risk losing your funds, given the situation in Ukraine. Check if you have funds in the "HOSTED CHANNEL".
I will open a free non-custodial channel up to 1M to anyone needing help. DM me.
This is especially important, since by design you **can not close** the hosted channel to on-chain.
If you followed my tutorial about how to use @SimpleBtcWallet and closed the hosted channel already, you're good to go.
I will provide instructions about how to get the inbound channel from me to move the funds from the hosted channel into your own control shortly.
Please RT for visibility.
Read 5 tweets
Feb 8
Fellow LND node operators:

Do not use unconfirmed funds to open new channels for now.

Due to a bug in LNDs coin selection process you might end up funding that channel with already spend coins, borking your balances.

Please retweet for visibility. github.com/lightningnetwo…
This is what will happen if you're affected: Your node tries to open a channel. The channel funding transaction gets rejected (due to it using already spent funds) but it won't realize that. You'll end up with a pending channel that will never confirm and missing on-chain funds.
If this already happened to you, you need to:
(1) Reinitialize your LND wallet by starting LND with

reset-wallet-transactions=true

(2) abandon the pending channels that have invalid opening transactions
Read 4 tweets
Feb 6
Lightning node operators - a thought:
Rebalancing should only be a measure of last resort if there is absolutely no other way to steer liquidity. Setting fees appropriately is working way better. 🧵
A lot of smaller node operators seem to aim for the perfect 50/50 channel balance, aggressively rebalancing, but only unbalancing other perfectly balanced channels, resulting in a perpetuum mobile of liquidity being moved back and forth all the time, paying fees to the pros.
If you're charging fees, you should use those to disincentivize liquidity flowing towards peers that you almost have no liquidity left to. If a channel has all the liquidity on your end, make it real cheap (maybe even zero) to route back. This will balance your channels for free.
Read 4 tweets

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