Nostr Web Client

At the risk of getting blocked by all the zap-o-maniacs ...

LN is great but to celebrate zaps as circular economy that just works is pathetic. 99% are custodial with some 3 providers. 100% of zaps are easy to fake as there is no proof of payment between actually distinct entities in the zap and the "recipient" can emit receipts absent payment anyway. Still most prefer to celebrate WoS instead of taking self-custody. And when WoS "gets hacked", they will keep saying it was fun while it lasted.

It **is** fun and we might get better but at its current level it's a toy and not the pinnacle of the decentralized economy allowing us to dunk on shitcoiners with their respective pretend solutions.

And yeah, if you try to zap me, my LN node won't emit a zap event and some clients don't even give you the option to tip my lightning address. Zaps are not about "value for value" but about showing off the value you give aka "value for value for value". Maybe that's why I'm not tuning in to your Kumbaya praise of zaps, trying to harvest some for myself.

Derek Ross 2y ago

I agree that most people gravitating towards custodial solutions is bad. However, that doesn't mean that people are keeping all of their sats on these providers. Maybe once they get to 100K they send to their own node or non-custodial solution? That's what I do. I only keep an amount of sats out there that I'm okay with losing. Once non-custody Zap solutions exist, this will get better. Fingers crossed for BTCPay server's PR to get completed in a timely manner.

Reply to this note

Please Login to reply.

Discussion

StackSats.IO 2y ago

I’ve got multiple custodial and non-custodial. Testing lots of things is part of being on nostr. WoS is best for zapping right now, if my custodial solutions get to that level I’ll switch but I don’t mind having a bit of “cash” for zapping that could get rugged in exchange for the best UX right now.

nobody 2y ago

Lightning is so complicated and so cumbersome to settle your ln sats back to L1. Nothing about it is smooth beyond WoS playing the role of a centralized back/excel sheet.

Is it cool, sure.

Is it true to Bitcoins principles? No.

Leo Wandersleb 2y ago

I hear this sentiment a lot but you are a maker and probably an influencer and net-receiver of zaps. Most plebs will never have their own nodes and those will get hurt if WoS "gets hacked".

I worked for a self-custodial mobile wallet and we had users with more then $100k in our product and my estimate always was that the average was $100. For WoS it might be closer to $10 but with more than 100k installs on Android alone that's still at least a million USD.

For me it's not only about personal loss and blaming the other guy who held all his sats in WoS. For me it's about us collectively creating these incentives for crooks to provide these honey pots that plebs fall into.

If your business plan is to take off with all the users' funds, you have much more resources to create a great product than if your plan is to provide an honest and forever free product.

Psychopaths exist and I've seen plenty in Bitcoin, too.