Just keep this real , only recommend non custodial solutions no matter the trade off they have , is the only way we keep this space healthy for long time .
10 sats \ 1 reply \ @P2P_bitcoin 19 Dec 2022
For store of value type solutions, that makes more sense.
But there are use cases where the convenience and utility of a custodial solution are positives that can outweigh the negatives. With RoboSats, for instance, which uses hold invoices for bond payments, ... an LN wallet that is among the best in handling those is the custodial Wallet Of Satoshi.
And that's even nuanced. Is FixedFloat, for example, a custodial solution? Or Peach (P2P trading platform)? Technically, they both hodl your bitcoin -- even if for a minute amount of time.
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25 sats \ 0 replies \ @iguano OP 19 Dec 2022
Of course hodling is the issue, why recommend SN for hodling for example? even 10$? its a bad idea right? then why people keep recommending or promoting wallet of satoshi or blue wallet on videos and articles?
I though that WoS was a temporary solution when they came out a year or so ago, but it looks like the community will keep the concept for ever.
btw there is other P2P exchange bots where you can use breez, phoenix and muun just fine, not sure why robosats have so many issues with non-custodial wallets.
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410 sats \ 0 replies \ @beorange 19 Dec 2022
I don't think this is an unpopular opinion. Based on what I read online, avoiding custodial services is recommended (more than ever).
Overall I also agree with the idea.
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25 sats \ 11 replies \ @DarthCoin 19 Dec 2022
ironically you are posting this from a platform that use a custodial LN wallet and you cannot post without using that wallet.
How is that working for you? Don't you fee bad for that?
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1 sat \ 3 replies \ @notgeld 19 Dec 2022
Yes. And making an invite to SN is actually inviting newcomers to use custodial wallet.
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0 sats \ 2 replies \ @iguano OP 19 Dec 2022
what option do we have for the social network part?
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0 sats \ 1 reply \ @DarthCoin 19 Dec 2022
Didn't know that iguanas are living under rocks. I mean, yes, they live behind rocks, but not under...
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0 sats \ 0 replies \ @iguano OP 19 Dec 2022
lol dude very funny, so you have a shitcoin in your name and also like to promote custodial solutions, what else?
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0 sats \ 6 replies \ @iguano OP 19 Dec 2022
Are you saying you feel good for using and recommend custodial solutions ? Let’s put this clear pls
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0 sats \ 5 replies \ @DarthCoin 19 Dec 2022
If are non-KYC and are used for for small payments at a daily basis, what's your problem? You are not keeping all your stash in one place, right?
Are even better, I can refill them anytime, from my node and when I pay I do not reveal too much info about my original sources.
I always use the 3 levels of stash of my BTC with mixed custodial and non-custodial solutions. My mobile device always have 3-4 LN wallets ready to pay, custodial or not.
Custodial is not bad as many wanted to present it as the mother of all demons. Be reasonable, some services is OK to be custodial, some not. If you know well how to use custodial services could be even a "smoke screen" against privacy snooping. But yes, not everybody knows how to use them well.
Not all "custodial services" are bad or against you. Example stacker.news, lntxbot.com and some others.
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0 sats \ 4 replies \ @iguano OP 19 Dec 2022
My “problem” with using a custodial solution for a daily basis payment. Is that you are rebuilding in the mind of the newcomers the wrong ideas.
People will relax them selves and will put more and more money into these services , what’s the point of this ? We have the technology available to get the things right from the beginning.
Of course anyone can do with their money what they prefer. But seem wrong to me when people using custodial solutions when they can just use a non custodial one.
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0 sats \ 3 replies \ @DarthCoin 19 Dec 2022
You are still using SN (custodial). Why are you still here?
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0 sats \ 2 replies \ @iguano OP 19 Dec 2022
I don't hodl money here dude. I don't use these for daily payments. don't play the "idiot" card here, you know what I'm talking about.
And I still use my visa card, PROMOTING custodial solutions is what I'm against.
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0 sats \ 1 reply \ @DarthCoin 19 Dec 2022
But don't you see how hypocrite you are?
Using a VISA card but screaming to other "don't use custodial !"
Just by being here, posting, you HAVE TO USE SN CUSTODIAL, each of your posts COST a sat taken from your CUSTODIAL SN account.
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0 sats \ 0 replies \ @iguano OP 19 Dec 2022
dude go back and read the post I made, It seems you lost the idea.
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20 sats \ 4 replies \ @southside263 19 Dec 2022
Wallet of Satoshi has the best UX though and LN address
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162 sats \ 3 replies \ @orthzar 20 Dec 2022
Yes, when you exclude the guarantee that users will get rugpulled eventually (whether through greed or government mandate), then WoS has amazing user experience.
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10 sats \ 2 replies \ @iguano OP 20 Dec 2022
I couldn't have said it better.
Thanks!
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0 sats \ 1 reply \ @southside263 21 Dec 2022
it’s been a great orange pill since 2018.
they’re giving away free sats now on nostr.
what r u guys building again?
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0 sats \ 0 replies \ @iguano OP 21 Dec 2022
wow... then you have to be right! right?
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2 sats \ 1 reply \ @snakedye 19 Dec 2022
I don't think custodial solutions should be banned all together from recommendations but they should clearly come after. It should also be made explicit that it's custodial.
Easy self custody on lightning is a solved problem and you still have people today that spread misinformation on self custodial wallets like Munn shills saying that you should be weary of Pheonix because you can only connect to ACINQ nodes. Like buddy, looks at yourself.
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0 sats \ 0 replies \ @iguano OP 20 Dec 2022
But the thing about self custody, is that the companies behind muun or phoenix disappear, the users will have the chance to recover their funds, and that's one of the main points of bitcoin.
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0 sats \ 3 replies \ @groeneboon 19 Dec 2022
First of all, I share your sentiment, and I hope that one day most people will choose to use non-custodial solutions of their own volition. Still, I disagree about not recommending custodial solutions at all.
You said recommend, so I assume you're talking about people who are new to the space. Whether talking about lightning wallets or other crypto wallets, I think it's essential to keep human nature and psychology in mind.
Naturally, most people will go for what's convenient and straightforward. They want something with a nice UX and not too much hassle. Therefore, they'd much prefer a custodial solution over a non-custodial solution. They are often just easier to use and offer the features people want.
Trying to force a non-custodial solution on people might actually be off-putting, and it can lead to a negative first experience with Bitcoin. Perhaps they can't figure out how it works, or something goes wrong. Whatever it is, they might get frustrated and give up on Bitcoin altogether.
Having said all that, I think it's essential to educate people on why it's not a good idea to store a lot of money in a custodial wallet and what the difference is between custodial and non-custodial. However, most of us started with some kind of custodial solution and gradually obtained more knowledge about Bitcoin and wallets.
So, the custodial solutions can be kind of a ''gateway drug'' to non-custodial. Additionally, I don't think having a mix of custodial and non-custodial solutions is bad. It is, however, important to be aware of the risks (and benefits) that come with both.
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465 sats \ 2 replies \ @snakedye 19 Dec 2022
I don't understand why this lie is still propagated. Pheonix and Breezy exist. I've use Wallet of Satoshi it's about the same UX wise so what are you talking about?
In the year 2022, you don't need custody to use lightning easily.
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0 sats \ 1 reply \ @groeneboon 19 Dec 2022
Dude, people don't start with Bitcoin by downloading a lightning wallet. Let's be at least a bit realistic here. I clearly write ''whether talking about lightning wallets or other crypto wallets'', so read before you comment.
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0 sats \ 0 replies \ @snakedye 19 Dec 2022
They should. At this point I really do not see why you wouldn't start with a lightning wallet if it's as easy to use as Breez or Pheonix.
You literally quoted the part where you make it explicit that your statement is also addressed to lightning wallets.
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