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I remember the time I nearly lost my entire 31 Sat haul on Coinos 😱

21 sats ... ok. It's just that these 21sat tend to turn into 21k and more and millions tend to use the same wallet and then, bouncing around "21 sats" between users of the same wallet turns completely meaningless when it all of a sudden disappears with all the funds. Yes, each user just lost about a coffee or three worth of sats but all these zap clicks are rendered pointless and some psychopath got away with stealing money.

not that i'm advocating for custodial solutions but would you open a channel for 21sats nostr:npub1gm7tuvr9atc6u7q3gevjfeyfyvmrlul4y67k7u7hcxztz67ceexs078rf6 ? trust is a technology, and tbh in a lot of scenarios it might be much better to risk the 21k sats on a mint or wos than risk your entire node due to vuln in the software you're using (there were issues with lnbits and btcpay in the past which are both popular solutions for lnurl and other functionality on top of nodes)

so yes, of course rugging happens and will happen, but its not a one sided problem, there is a lot of moving parts and not all of them necessarily have the level of scrutiny than one would hope. So using a custodial solution might actually be the most rational decision for small amounts if you've carefully factored in other risks and costs (running your own nodes, deploying liquidity, managing liquidity, managing software updates, infrastructure cost, human labor cost etc)

I'm just asking people to consider the total and not only their personal loss.

If we all agree to trust the same custodian and all zaps are just handled by that custodian, the value and meaning of zapping itself hinges on that custodian not pulling the rug.

So I'm advocating for family banks. The Uncle Jim model. Use a fist-reach mint and not some anonymous custodian everybody else finds convenient.

But yes, I am also guilty of using WoS because it's easy to setup zapping but I pull out funds rapidly and regularly.

KYC should always have been "Know your Custodian".

😂😂

I trust many Bitcoin custodial wallets more than banks.

L custodial zapping

Lol