It’s unfortunate and extremely disappointing that the self-custody term is being used so blatantly.
Yes, you should assume that.
And remember this is what the new nostr:npub1hcwcj72tlyk7thtyc8nq763vwrq5p2avnyeyrrlwxrzuvdl7j3usj4h9rq is built on, and many other wallets will soon follow. The UX is good. The products will be very popular. But don’t let the “self custody” claim fool you. Your transactions on Spark will be as traceable as any custodial wallet.
Discussion
Yes, it’s a misnomer if you’re being lenient and outright deception if you really think about it. There should be another term for it, but I’m not sure what that would even be. Maybe “self-service custody” is a better way to say it.
I’m not even saying that Spark as a technology doesn’t work, or there isn’t a use case for it. But pretending it’s the same thing as true self custody just because your app has a seed phrase is a dangerous illusion that I think hurts us all in the long run.
Learn faster. Only way. It’s still self custody but transparent.
Next step: own node