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117 sats \ 12 replies \ @AngryMulbear 18 Aug \ parent \ on: Locked 1 BTC until 2030 bitcoin
And how did "regulations" protect Bernie Madoff's clients?
Not your keys, not your Bitcoin!
There will always be bad guys and good guys. You never really know. But in the end we also get cool companies that do good work and solve people’s needs.
If we think like that, then Coinbase, Binance, or even CashApp wouldn’t exist either. Somebody has to start and go through the hard parts to make Bitcoin simple for regular people. Cypherpunks will always have their own tools and their place. But not everyone wants to live in terminals. Most folks just want an easy way to save without stressing about keys. Log in with passkeys, the most secure way for everybody, and you’re good to go.
I’m fully in. I’m for AI and for Bitcoin. That’s Piggy’s mission and vision. At the end of the day that’s what matters to me.
Let’s wait until MCP is on, then we’ll see some cool stuff goin on in dev society.
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This is all vibecoded isn’t it.
Run.
Fucking run.
This is totally unsafe for Bitcoin usage, you will lose everyone’s coins, and people will be very upset.
I do not believe you nor piggy should be anywhere near people’s sats.
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10 years and all you can come up with is a grok api call, some ugly Jpegs, an inscription scam and a custodial honeypot?
Delete it. You shopped you scam here, and the maxis of SN ripped it. Did you expect this response?
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What would you prefer we use our decade of experience for: shipping another Tor-only CLI wallet that a handful of geeks use to not trust anyone, or building an AI “piggy bank” that talks, teaches Bitcoin, and helps millions, kids included, save their spare change and gift sats in a fun way?
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I don’t believe you have been in this space for 10y. The ordinal NFT thing gives it away. It’s pure shitcoinery. No “10 year Bitcoiner” would give any credence to this scam. Someone who has been about would also think of Satoshis wise words “The problem with this solution is that the fate of the entire money system depends on the company running the mint, with every transaction having to go through them, just like a bank.”
You complain about potential of high fees, yet high fees have been caused by one thing in the last few years, NFT scammers and spammers.
You are part of the problem.
I would prefer you didn’t hold any funds for users. You pose a clear danger to Bitcoiners with your custodial honeypot. Your product is a menace, and you will lose your users funds. If you don’t lose them, the state will confiscate them for you being an unlicensed bank.
It’s just faulty by design, and the fact you refuse to acknowledge the issue is an indicator that you have malicious intent.
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- I can prove that I have over 10 years of experience in the space and in development. I have contributed to and supported projects such as BTCPay Server and NBitcoin since their early releases.
- It is not an NFT unless it is actually converted into one (which has not even been released yet). For now, it is simply a wallet on our servers. It is still uncertain whether the image itself will be placed on the blockchain or only the metadata.
- We are a licensed Bitcoin service provider in El Salvador, where the government is very supportive of Bitcoin projects.
“Actually, there is a very good reason for Bitcoin-backed banks to exist.” - Hal Finney
Your anger blinds you to the beauty and opportunities of the project.
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ok guys, I’ve gotta jump in. “Not your keys, not your bitcoin” is a great warning, but as a universal mandate it ignores reality:
• On-chain capacity isn’t infinite. If every human self-custodied and settled routinely on L1, fees would price out the majority. Global daily commerce can’t live on a scarce settlement layer.
• Most people aren’t opsec pros. Seed phrases get lost, mishandled, or stolen. For a lot of users, pure self-custody turns financial risk into personal security risk.
• Recovery & inheritance are hard. One mistake, one house fire, one memory lapse, and it’s gone. That brittleness doesn’t scale to billions.
• There’s a custody spectrum, not a binary. Multisig with trusted guardians, community/mini-custodians, hardware + social recovery, and regulated custodians with real audits and proof-of-reserves, these are pragmatic middle paths.
• Payments vs settlement. L1 should be for final settlement and high-value moves, everyday transactions belong on layers/rails designed for throughput.
Yes, bad custodians have blown up. The answer isn’t forcing grandma to be her own cold-storage CISO… it’s credible, transparent custody options plus easy exit ramps to self-custody when users want it.
So no, on-chain capacity alone isn’t enough for everyone to self-custody and transact. Treat “not your keys” as a north star and safety slogan, not a one-size-fits-all policy.
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“Blah blah give me your bitcoin.”
“Trust me bro.”
No. When will people learn?
Your not helping Bitcoin by recreating first and second cycle custodial scams.