reply on: Spark And Ark: A Look At Our Newest Bitcoin Layer Twos

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260 sats \ 6 replies \ @Scoresby OP 24 Oct \ parent \ on: Spark And Ark: A Look At Our Newest Bitcoin Layer Twos - Sethforprivacy bitcoin

@justin_shocknet has been using the term "trustodial" to describe things like Ark and Spark, which isn't a bad description. It's kinda like they don't have custody of your coins if you stay online or if the person who sent you the coins isn't colluding with them.

Seems like there's no free lunch in the world of trust-minimization.

269 sats \ 4 replies \ @jakoyoh629 24 Oct

Ahah... Google

320 sats \ 3 replies \ @justin_shocknet 24 Oct

That's a ref to Shinobi's article after he tried to do damage control after I coined it...

Origin: #1019448

121 sats \ 1 reply \ @Scoresby OP 24 Oct

trustodial is a bang up word. makes me smile every time I see it in the wild.

17 sats \ 0 replies \ @BlokchainB 25 Oct

Me too hahaha

17 sats \ 0 replies \ @jakoyoh629 24 Oct

Thanks for your work

0 sats \ 0 replies \ @justin_shocknet 24 Oct

Yea trust-minimization is a weasel word, anyone using that in a presentation is automatically scamming... things are either trusted or they're not.

Trustodial is how they think they're going to loophole the regulator, the problem with that is that they're scamming the unsophisticated user (and probably investors) in the process.