SLObit on Nostr: Thanks! Yes this is what is confusing me. There is a 12 word self-custodial backup ...
Thanks! Yes this is what is confusing me. There is a 12 word self-custodial backup with Phoenix. I’m not understanding where the security difference resides between holding on lightning and on-chain if the private keys works the same way. Is the difference just the security of SENDING on-chain vs lightning and not a different in holding? If that’s the case then my kids would just need to be careful moving the funds in the future. Not meant for a very large transfer. To be moved more slowly and in smaller pieces. But tradeoff is the gained privacy.
Published at
2023-10-24 21:35:48Event JSON
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"content": "Thanks! Yes this is what is confusing me. There is a 12 word self-custodial backup with Phoenix. I’m not understanding where the security difference resides between holding on lightning and on-chain if the private keys works the same way. Is the difference just the security of SENDING on-chain vs lightning and not a different in holding? If that’s the case then my kids would just need to be careful moving the funds in the future. Not meant for a very large transfer. To be moved more slowly and in smaller pieces. But tradeoff is the gained privacy.",
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