Cmon, this is not black and white.
Discussion
If a custodian holds your funds, it’s not “self-custody”. That’s pretty black and white lol
Do you self custody your cash? Because the Federal reserve issues it, you don't have custody of the funds? Sure seems like it to me. If someone can accept it what is your definition of custody?
You could say that you’re self-custodying “Liquid Bitcoin”, but this isn’t self-custodying “Bitcoin”.
Correct. That post doesn't say self-custody bitcoin. It is talking about L-BTC.
Read it again.
Yes, I did. Did you? Especially the part about trust trade offs.
“The users’ coins are self-custodied” does not say anything about how you aren’t self-custodying *bitcoin* but rather an IOU for bitcoin.
Yeah, we know how sidechains work. I feel like this is needlessly pedantic. This like saying "The bank doesn't tell you the cash they give you, isn't actually gold!" (Prior to 1971)
The distinction between L-BTC and BTC is clear.
People often say it's pedantic when one interprets words to have their actual meanings.
Well, I'm not not using it in that way. I mean it in the way that "L-BTC" and "BTC" are entirely different words and don't need the redundant clarification by saying "Well actually, L-BTC is a coupon for BTC." That type of pedantry, is TRULY needless. Even if it's true, it's implied by the DIFFERENT FUCKING WORDS. Thanks for your input though.
It’s not, but the copy is misleading users