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0 sats \ 6 replies \ @spiderman OP 12h \ parent \ on: Coinos Wallet Disappeared, Any Substitute? nostr
What does trustodial mean?
@justin_shocknet is the 🐐 with matters like this
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yo.
@spiderman trustodial are wallets that claim to be self-custodial but are actually based on trust, it's a slur, they give you self-custody to non-bitcoin keys... its a mark of dishonesty
CoinOS is not in that category, it's transparent and just regular custodial and makes this known to its users in good faith
Any custodial Lightning service is basically a honeypot for hackers, if they can find a hole to make unauthorized payments then they can drain a node and there's no recourse given its instant settlement... every custodial lightning service has experienced a drainage attack of some kind, hardening custodial lightning software is a lot of trial and error. LNbits, an extension for BTCPay, Lightning.Pub, have all had to patch vulnerabilities. CoinOS is no exception.
I don't know the history of all the exploits against them, but one was less an attack against the software and rather a key leak, they accidentally uploaded a secret to github and that was used to steal sats/credentials.
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Thanks, what about Blockstream Green lightning? Are they self-custodial or cusodied by Blockstream company?
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Yea everything Blockstream is scammy
Green is a cloud node, but the keys live on your device, this makes it "non-custodial" per their marketing and lawyers... but the node is still hot on their hardware, this is Trustodial.
It's also not as useful as a VPS or the like because of the interactivity required with your device... it's very dumb and pointless... unless the point is for them to generate fees.
Anecdotally I've heard from wallets that integrated with it that they're complete clowns with support, 0 regard for when users are down, not serious at all.
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So the only way to have complete self-custody with lightning sats is to run my own nodes?
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If it's not your node then it's someone elses node, always has been that way.
If a Lightning wallet tells you otherwise it's because they see YOU as the product.
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