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1033 sats \ 22 replies \ @_b_o_n_e_s_ 10 May \ parent \ on: Not everyone will like this bitcoin
the point is, phoenix, WoS also require trust. so if you're going to trust parties, trust private parties
Phoenix is self-custodial (although not private). Not sure why put Phoenix and WoS at the same level.
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Phoenix / muun are recoverable indeed, that is definitely a valuable feature
WoS, Blink and other CUSTODIAL solutions are fully deprecated by mints
for phoenix / muun the question is whether the privacy aspects are worth it for the faster transaction times (and connectivity / reliability)
trust not to leak private data that's the point op is making
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I agree. The point I am trying to make is that mints are not self-custodial. You are giving away your precious sats in exchange for eSats issued by the mint.
My understanding is that back in the day private banks would eventually end up rug pulling their customers, which led to the creation of central banks. It looks like these mints might end up the same way. I am not enthusiastic about mints.
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you are totally right and we are all responsible for educating users about this
ecash is for spending, just like starbucks vouchers
don't keep all your ecash on one mint
for saving, you use your own mint, or swap out to on chain
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what is being built is being built for transactions
not for saving
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and if you don't like mints, don't use them
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everyone on earth spends money
if you listen or read calle's posts its always about transactions
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Or too cheap to open a lightning channel
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it's more:
for people who want privacy, offline tx, or programmable money
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WoS agree, replaces bitcoin with an IOU, like all the exchanges. Phoenix not so, because the channels can be force closed and bitcoins returned in private custody (after fees and time). Phoenix cannot inflate supply of bitcoins.
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I have started using ZBD again after Phoenix and WoS quit USA.
And mutiny.
But I love the ease of ZBD
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sure and if you like giving up your privacy and you dont worry about your personal data being harvested then keep using it then more power to you
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I run my own lightning node
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and give all your data to amboss
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All what data? VPN IP? You have no idea what you are talking about. Better trust some random shitcoins from some random npub?
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well yes, this is the wider point
with phoenix and muun you have recoverability but no privacy
better to run a private mint
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or include WoS in your list of shitcoins. and then, go tell that to all the folks using it because they're convinced with their zapathons that their bringing in the revolution
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WoS is a great wallet
So is Blink
However, in an adversarial environment, ecash will win
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