Replying to Avatar geodesic

If you're using Wallet Of Satoshi, you are choosing banks over Bitcoin. You've lost the plot. The entire point of Bitcoin is to take power from the banks and give it to the people. You're no better than a Coinbase or other CEX account holder. You are not a Bitcoiner. Stop posing.

#bitcoin #lightning #zaps
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Farley | Hard Fork Anthems 2y ago

WoS is ran by a bank?

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geodesic 2y ago

WoS IS a bank. You create an account with them, they hold your money with no way for you to recover it if they fail, they send/receive money in their private inernal ledger as much as possible, they can fractionally reserve the money they account for, they report to regulatory authorities, and can censor users and/or freeze their money.

Yes, WoS is a bank.

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geodesic 2y ago

If you have sats in WoS, you don't have sats. You have WoS IOUs under WoS's monetary policy