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0 sats \ 2 replies \ @SpaceHodler 7 Nov \ on: Ark - Protocol to Scale Bitcoin by Sharing UTXOs bitcoin
Technically, Ark is non-custodial. An ASP can't run away with users' funds, except when the user is not online once in a 4-week period (the time period can vary from ASP to ASP).
I found this bit confusing, because "once in a 4-week period" means "once". In other words, "An ASP can run away with users' funds if the user is not online all the time".
Did you mean "once for a 4-week period"?
Exiting might be expensive though in a high-fee environment.
Exiting shouldn't be needed unless you get rugged, right? And the ASP is not incentivized to rug you, because you'd still exit and they'd run off with nothing.
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33 sats \ 0 replies \ @teemupleb OP 7 Nov
Yes, I wasn’t clear enough. A user should log in at least once during those 4 weeks.
And yes, the game theory will probably incentivize ASPs to act honestly.
Interesting recent discussion about Ark by stackers in this post, by the way: #756225
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0 sats \ 0 replies \ @Rexdentron 7 Nov
I found this bit confusing, because "once in a 4-week period" means "once". In other words, "An ASP can run away with users' funds if the user is not online all the time".
The same thing could be done in LN nowadays if you don't "online enough"
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