1221 sats \ 12 replies \ @clr 10 May \ parent \ on: Not everyone will like this bitcoin
Phoenix is self-custodial (although not private). Not sure why put Phoenix and WoS at the same level.
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
reply
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.
reply
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
reply
what is being built is being built for transactions
not for saving
reply
and if you don't like mints, don't use them
reply
reply
everyone on earth spends money
if you listen or read calle's posts its always about transactions
reply
Or too cheap to open a lightning channel
reply
it's more:
for people who want privacy, offline tx, or programmable money
reply