Nostr Web Client

CashApp is great. We tend to serve a lot of high net worth clients and also in some cases clients that require qualified custody for various reasons. Not sure you can go to coldcard with larger amounts on cashapp. I once got a big amount stuck there that took forever to take off.

Just want to point out, as a thought experiment, that if your first party is “bob’s totally trustworthy built in my garage bitcoin store” then maybe that’s not quite as good as a third party custodian with audits and so on. CashApp is trustworthy, because it’s a public company and has a large security budget. Minimizing time in custody is always a goal. If you can get what you need there quickly, that’s awesome.

ben 2y ago 💬 1

agreed on the withdrawal and purchase limits on cashapp, that’s a good value prop for swan - thanks for highlighting that.

and I think it goes without saying that a first party of “bob’s totally legit bitcoin warehouse” is obviously a little sus. it all boils down to being educated of the risks and making a personal choice.

anyway, appreciate what you’re doing. *personally* still highly skeptical of putting trust in these Trusts like bitgo and fortress but that’s the beauty of competition - I don’t have to.

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Discussion

yan 2y ago 💬 1

Yep exactly why we write a whole article analyzing the different tradeoffs. Pretending that one is “obviously” better than the other is naive and the thought experiment proves it pretty well. As mentioned in the other thread, our clients are first party customers of the qualified custodian. We just have certain custodians we recommend for different use cases.

ben 2y ago

eh probably going to have to agree to disagree. I previously put trust in swan only to discover that meant I also put trust in prime trust. if I was to trust swan now I’d be trusting fortress or bitgo and/or others.

hope that trust works out for you, I will pass.