Great Question. River has a strong corporate culture of avoiding seed oils, but we also believe in individual autonomy, so we don't restrict our employee's diets.
We are actively improving Learn. If you have any articles you'd like to see, terms you'd like added to the glossary, or other ways we can improve, let me know!
By multisig, do you mean collaborative custody? We don't offer that, but we have Lightning and onchain withdrawals to allow you to withdraw to your own multisig quite easily.
Great question. We are quite different both in the features we offer and how we operate the business:
River operates our own custody infrastructure and has our own licenses which allow us to custody client funds. Swan outsources their custody and licensing (previously to Prime Trust, and currently to Fortress Trust). We think it's important to have full visibility and control over custody for the safety of our clients given how many incompetent and/or malicious actors are operating some of these third party custodians. Of course we always encourage self-custody.
We have zero-fee DCA. Whenever you DCA on River you pay zero fees on those purchases after the first week. Spreads are very tight.
We support Lightning payments to and from your account
How do you handle the balance between be an actor in a p2p network (mesh) and force central routes (star) with the objective to have a low failed payments? It's like the behavior isn't p2p, select "good" peers, filter alternative networks, etc.
Do you think in the future there will be no reason to optimize or we are going into a centralization path?
However, we can't combat centralization by fighting incentives or doing sub-rational things (like peering with subpar peers, wasting liquidity, etc.). We either win (stay decentralized) by setting up the right incentives & building the right tech, or we don't. Altruism is only a method for bootstrapping, not a sustainable model for at-scale networks.
For River in the specific, we do aim to minimize failed payments, and while that requires pruning bad peers, i don't think it's as pro-centralization as it seems. The tech exists or will exist to allow anyone to be a good peer. The main challenge will be whether capital requirements drive centralization.
Good evening here. Hope I am not late to this? I personally i have been wondering about what River is into and all about. I first saw River on Bitcoin magazine platform. I have some questions to ask.
Is river a payment channel to buy Bitcoin like luno?
Is river another lightning wallet? Because I am drew to Bitcoin because of this feature.
Can you break down River’s full seed oil policy? Will be the best way for me to make sure bitcoiners are in good hands with River
Great Question. River has a strong corporate culture of avoiding seed oils, but we also believe in individual autonomy, so we don't restrict our employee's diets.
Excellent. Very bullish
River have plans in make non KYC products beyond APIs?
Unfortunately, we probably won't be able to provide a fully non-KYC product due to legal reasons.
Any improvements on the horizon for the "Learn" section of your website or is the team pretty satisfied with it as is?
We are actively improving Learn. If you have any articles you'd like to see, terms you'd like added to the glossary, or other ways we can improve, let me know!
We have many terms, especially Taproot, Taro, and recent SoftFork proposal related terms, to add to the glossary.
Why there are quite many people (especially bitcoiners) that do not like LN and even hate LN?
see the denial have many people at BM conference
The same tendencies that keep people away from bitcoin keep some bitcoiners away from LN.
On a scale from 0 to 10, how hard are you getting regulated?
Not selling shitcoins (securities) is a pretty big advantage for helping to avoid regulation. The SEC is much more "active" than the CFTC.
Hopefully running this AMA at the same time as a round table doesn’t detract from each other
Yeah, that was a mistake on my part :)
What is River?
edit - found the website: https://river.com
full KYC, American, custodial bitcoin only savings account
No multisig option
ok, question - when multisig? (eliminate trust in river)
By multisig, do you mean collaborative custody? We don't offer that, but we have Lightning and onchain withdrawals to allow you to withdraw to your own multisig quite easily.
What differentiates you from your competitors like Swan Bitcoin?
Great question. We are quite different both in the features we offer and how we operate the business:
was the ASIC mining removed? i couldn't find anything on their website about it and i remember seeing content about it before
It’s on the app and last I checked they were sold out
How do you handle the balance between be an actor in a p2p network (mesh) and force central routes (star) with the objective to have a low failed payments? It's like the behavior isn't p2p, select "good" peers, filter alternative networks, etc.
Do you think in the future there will be no reason to optimize or we are going into a centralization path?
I worry about centralization in LN yes.
However, we can't combat centralization by fighting incentives or doing sub-rational things (like peering with subpar peers, wasting liquidity, etc.). We either win (stay decentralized) by setting up the right incentives & building the right tech, or we don't. Altruism is only a method for bootstrapping, not a sustainable model for at-scale networks.
For River in the specific, we do aim to minimize failed payments, and while that requires pruning bad peers, i don't think it's as pro-centralization as it seems. The tech exists or will exist to allow anyone to be a good peer. The main challenge will be whether capital requirements drive centralization.
When Android app?
soonTM! But Actually very soon.
Possible to put an automated coinjoin option in the automated btc buy ---> send to wallet path?
No, this is a cool feature, but not currently possible
I see you guys are FDIC insured but that’s only if the bank institution fails correct?
Are you guys profitable?
What are some of the difficulties with setting up direct deposit? It's my favorite way to buy bitcoin and wish I could on River.
Good evening here. Hope I am not late to this? I personally i have been wondering about what River is into and all about. I first saw River on Bitcoin magazine platform. I have some questions to ask.
Thanks.
Are you guys working on a dlc thing?
No, not at River
Yo what is River's stance on the Swan/BTC Mag "Ji-Hodl" initiative happening today?
https://www.thebitcoinbugle.com/bitcoiners-counter-national-day-of-rage-by-shouting-bitcoin-fixes-this/