pull down to refresh

Wallet of Satoshi isn't fully self-custodial, but it isn't custodial...btcpp.substack.com/p/insider-takes-wallet-of-satoshis?utm_source=post-email-title&publication_id=2942910&post_id=167513633
481 sats \ 12 comments \ @k00b 4 Jul bitdevs
write
preview
related posts
111 sats \ 6 replies \ @justin_shocknet 4 Jul
It is custodial. It's not debatable.
users can never be sure that the operator honestly deleted said key
"Deleting a key" is just hoping the custodian doesn't spend the coin. YOUR COIN IS NOW THEIR COIN. Enough with the cope. This is no different than an SQL database, same exact trust model.
The unilateral exit in a downtime scenario is cope too, no one is onboarding into a Trustodial fake L2 if they can afford their own UTXO/LN Channel. These scams exist for custodians to service dust collectors and cower behind technobabble if the regulator comes looking, the problem with this is that they're lying to users while they do it.
Cowards, frauds, unscrupulous actors, engaging in a trust violation before the first transaction is ever made.
I think the mental gymnastics people will do to justify this fake L2 narrative scamming is downstream of the scaling psychosis. Denying truth about scaling and UX sets your principles off-course just a little bit at first, but as you travel further away from the light, you start defending scammers just to be consistent with the inane views you hold on scaling and UX.
reply
111 sats \ 1 reply \ @028559d218 4 Jul
What is "scaling psychosis"? Bitcoin is 108 THOUSAND and blocks right now are half-empty. Transactions are basically free.
Meaning that all 8 billion people's demands to use Bitcoin are currently being satisfied. Its like 30 cents to open a Lightning channel on a smartphone.
Why have trustodial at all?
reply
0 sats \ 0 replies \ @justin_shocknet 5 Jul
There's still a cohort that believes we need to panic because 8 billion people, most with no assets, will wake up and decide to become sovereign individuals.
Since Bitcoin can't technically accommodate that, ever, they change the meaning of words to fit their delusions.
reply
49 sats \ 0 replies \ @halalmoney 4 Jul
Connecting psychology with exposing fake L2s was not on today’s bingo card….
Denying truth about scaling and UX sets your principles off-course just a little bit at first, but as you travel further away from the light, you start defending scammers just to be consistent with the inane views you hold on scaling and UX.
reply
27 sats \ 1 reply \ @Bell_curve 4 Jul
I like using shock wallet via browser
reply
11 sats \ 0 replies \ @justin_shocknet 5 Jul
Browser apps are layer 7
reply
17 sats \ 0 replies \ @DarthCoin 5 Jul
Add to that they are using a crap spark chain faking a so called L2. And that chain will come soon with the full KYC hammer. But peopke are retarded..
reply
61 sats \ 4 replies \ @5hdsw45gg 4 Jul
So we get the brilliant UX from WOS but not 💯 self custody.
So we can keep a small amount of sats for day to day.
Same as before then 🤷‍♂️
reply
17 sats \ 3 replies \ @Bell_curve 4 Jul
same as it ever was
reply
21 sats \ 2 replies \ @justin_shocknet 4 Jul
Now with scamming*
reply
30 sats \ 0 replies \ @5hdsw45gg 4 Jul
💯 agree with Justin and Darth views
reply
0 sats \ 0 replies \ @Bell_curve 4 Jul
there is the song by Talking Heads
reply