Always disappointed by self-proclaimed bitcoin "maxis" who are more than fine with promoting custodial wallets.

They even gaslight it with the "small amounts are fine, it's just pennies". Really? Is that the bright future you see for bitcoin?

I though we were trying to get rid of banks and asking permission to send money, but here you are, saying that is fine if it's just coffee-level money.

If we don't stand our ground, LN will be fully captured by custodial operators. Have a nice day.

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I understand your point, but think, for example, for my 60-year-old mother, it's much easier to start with a custodial wallet. 🤙

There’s a benefit to custodial wallets. I have mine across three different devices. Going on an international trip next month, planning for the contingency that one of my devices gets lost. Won’t be a big deal.

My mom is 60 and she runs a node 🤷🏽‍♂️

Props to your mom, but that makes her exceptional and/or exceptionally motivated.

For sure. Where there’s a need, there’s a will. Lebanese people have been rugged enough to be motivated.

Legend!

There will not be 8 billion lightning nodes dude lol

Suggest alternatives to WOS etc.

Not with that attitude there won’t!

🎯

This is fundamentally a sin of intelectual arrogance imo

Some still don't get what free market looks like.

Some people still thinks they "know better" than others how things need to be. Making claims of how others needs to behave is in no way different to what statis does even if you are a bitcoiner.

The level of self-soveraignty needed is as subjective as the level of education somewoane needs, the level of excercise, etc... if you make a claim about any of this you make a claim implicitly about knowing what other peoples value priorities should look like, exactly the same thing statists does when they take your resources and spend them as they see fit.

Let people make their own mistakes, fail locally and sucess globally (mirroring what works and learing from other mistakes) and if someone doesn't use Bitcoin as you want DEAL WITH IT, that is why is called permissionoes.

-----END RANT-----

intellectual is cannot reach reach masses that why they MAXIS will fail ! bc arrogance

Maxis have a different goal. It’s OK to have standards. Bitcoin is emergent. It is nothing without a network effect - but it is also nothing without standards. Our generation won’t be the one to square this anyhow so we might as well let the intellectuals just flap.

I think Maxis are not arrogant, quite the opposite in fact.

Anyone who went down the rabbitwhole at some point learned that he/she doesnt know everithing, in fact knows very very little about the world and that new way of view things changes you in how you deal with the world and the unknown in general.

I think arrogants will fail

not all buy some for sure !

What do you mean? 🤔

(Oh, got it. Nevermind)

Yes for sure some are, I am to some extent and try not to fall into that. I think is really easy to be like that if you are not actively trying to avoid it.

That being said I really think that with most of the people who are transformed bit bitcoin one characteristic mark is to be at lest a little less arrogant, specially if on their way to maximalism they got rekt by scammers or things like that.

If that doesn't teach some humility I dont know what will lol 🤣

never ! 5 billion uses internet - stackuped maxis push n propagate their dream - without simplification layman will NEVER buy it !

There will not be 8 billion people using bitcoin dude lol

So you would rather they not use Bitcoin at all? A guy in Africa who couldn’t run a node should be left out? Really?

I see where you’re coming from, and I think this would be cause for concern if we had to give identifying information to these custodial lightning wallet, but I think there are real trade-offs when it comes to convenience.

Should you keep your 0.5 Bitcoin on Coinbase and trust them to hold your wealth? Absolutely not. You’re going to get rekt.

But if it’s coffee money, and the custodial wallet refuses to allow you to make the payment, then you have effectively lost a $5 bill out of your pocket. That wallet is going to get rekt when people realize they don’t have access to their $5, and another wallet will come around.

Not your keys, not your Bitcoin still applies 100% because you are not trusting the wallet to hold any real value that you don’t intend to spend anyway. If you’re willing to trade 20,000 sats for a cup of coffee, then you valued that coffee more than the 20,000 sats.

The terminology here is confusing and Orwellian. “Custodial wallet? Yes, I’m the custodian, wait what’s non custodial, no one is responsible? Wait, custodial means someone else is the custodian? Why are they the linguistically default term?”

I like to say your wallet and their wallet. And I totally sympathize but also think most people aren’t ready for it. It’s freaking scary!

Majority of people have an iq around 100. I know a lot of good, honest, hard working people in this range and they need solutions that can ease them into self custody and provide a safety net, like multi sig or vaults.

#technology without #simplification will not reach adopted by #masses - maxis can bark all next decade !

keep a few sats anywhere is fine - bulk should in self custody ! lnd or c-lightning running not a common layman task.

Seriously, fucking psychopaths, amirite?

If you take a purist attitude, I’m afraid you’re going to be disappointed until the technology and protocol catches up to the point where self-custodial always-on reusable Lightning Addresses work much better than they do now and can be set up by anyone in an instant without any technical skill.

We have to teach self-custody, but this is a journey. For people just starting out, we need to take small steps.

I just onboarded my Vietnamese tour guide with WoS - he’s been speculating on FX and meme stonks and now has a few hundred thousand Sats that I’ve told him to just hold for 1 year and see.

You think I would have been better off getting him to go home and spin up a node?

Don’t let perfect be the enemy of good. People have to learn to walk before they can run and Maxis being all pious about custody ain’t helping.

This is not good. Teaching people to trade PayPal for Wallet of Satoshi is not a step in the right direction. Its a step backwards.

A step in the right direction would be getting them to set up a non-lightning wallet that at least isnt custodial. First step: edit the banking system. Next steps: learn lightning.

The community has a toxic mentality of pushing lightning by all means, even if it ends up building Banks2.0 on lightning

So going from “I’ve heard of Bitcoin, it’s gone down right?” -to- “I’m going to look into this” now that he has a few hundred thousands Sats “is a step backwards”.

People like you would be commissars in another time and place.

I don't know who said it, maybe #[2] "Bitcoin is different things to different people".

Bitcoin doesn't care, it just produces blocks roughly 10 minutes.

I don't like monkey jpegs on the timechain, but I can do nothing about it.

I self-custody my on-chain coins, I run a node.

I still don't run my own lightning node (planning to set it up with btc pay server this year).

Am I less Bitcoiner?

I have an alby lightning wallet for zaps with few sats in there.

I'm using non-custodial wallet Phoenix, too.

I plan to tinker with blixt.

Everybody can use Bitcoin as they want.

You can improve your setup gradually.

Education is the key.

Not gonna compromise my on-chain privacy for the sake of keeping some pocket money secure. Sorry not sorry.

I'm glad Bluewallet ended their custodial service.

Your post is creating a buzz.

Added to the https://member.cash/hot feed

A note to think LN custody is hard: to self custody LN you don't need fancy setups on a dedicated hardware at home, you can have a *full node in you pocket* with #OBW or #Blixt.

Ok, this way you don't get (yet*) a LN address, but it is a first step in the right direction.

* #[2] is solving this

A bunch of comments showing some really lost the plot.

I don't care your grandma cannot setup a LN node and uses WoS. I have a problem with YOU getting all enthusiastic about "the power of lighting and zaps" when all you're using is fucking PayPal with a ⚡ icon.

If you can't use anything else, either have a low time preference and wait for better solutions, or just treat it like your Spotify shower playlist: be embarrassed into share it and definitely don't brag about it.

#[0]

I appreciate your commitment, but it also sounds like you expect most, if not everyone, to wait for a full step change, rather than take a ramp from where we are to where we need to be.

How often, realistically, does the former happen?

Read the last paragraph. I don't have an issue with people using custodial wallets because they don't know any better. I have an issue with people shilling them without any warning as if it were real bitcoin.

Even Jack has shilled WoS. The reality is that it’s too complicated for most ppl to deal with.

Shaking one’s fist and castigating rarely changes the world. Engagement and possibility and empowerment does.

Giving people a taste of what Bitcoin makes possible is how we get them to invest the time and energy to fully unlock the tools.

No one ever listens to me when I’m angry.

Funny how that works, huh?

Yes. I’ve got a lot of respect for the passion and knowledge, which far exceeds my own, but sometimes paying attention to how a story is told matters more. Teach me the facts and I will forget them. Tell me the truth and I won’t believe you. Tell me a story and it will reside in my heart forever.

Not speaking up against potential centralization vectors and capture risks is extending the red carpet for big players to come in and takeover.

So much for "adoption at all costs"...

It happened to email, it happened to internet browsers, it happened to the web, it happened to social media.

It will happen to lightning if most people just roll over.

Ok. What’s your proposal? What’s your plan?

Are you saying that unless and until each of us invokes a litany of cautionary tales each time we seek to orange pill someone that we are doing it wrong?

My proposal is low time preference: don't shill hostile convenient solutions for the sake of adoption.

This ☝️. We have to stop whoring ourselves out for new users at the expense of the objective: freedom money

There is no “we”. There are individuals and collections of individuals (projects, companies) acting in their own (hopefully enlightened) self-interest.

“Build a better mousetrap…”

IMHO the fediverse people got this right

they’re alright with instabanning any big company’s ActivityPub instance

💯

using reddit as an example is probably cheating but I was amazed to see no pushback on this WoS “transaction” https://old.reddit.com/r/Bitcoin/comments/11kf4vc/the_currency_of_the_people/

I wonder how many nostr users did not have a wallet. Would they be considered 2nd class citizens?