Again it’s not reckless behavior, it’s just a growing company. Every single financial company that has ever existed has been through the same thing— it’s not possible to avoid.
Discussion
It is reckless behavior to not have synchronous or asynchronous replication for data that cannot be lost.
Most LN node operators do this but somehow not a large custodian.
Most node runners don’t support a UI, users, nearly the same amount of bitcoin, a separate database for the custodial balances, all sorts of features, etc. It’s easy to look at one thing that goes wrong and call them reckless, when in reality they are doing an amazing job and have solved 500 other things that could go wrong
Yet failed to address the core and the most fundamental thing, the balance sheet. Really? Prioritizing features over integrity is not the smartest move one can make.
ask people in a serious noderunners chat and they will say they use replicated Postgres.
so why is Coinos not replicating their DB?
you may have built a perfect house that is resistant to flooding but if you build it on mud then none of that matters
I’m sure the answer lies somewhere in the realm of there is a lot of shit to do
“Not possible to avoid” is a fairytale created by the companies to lessen their responsibilities. Was it hard to research the space for such lessons and learn from them? I am fully aware of what can and cannot be done, and that is why I am very critical of any company that takes their customers’ trust lightly or for granted. If the core of the business is to maintain a balance sheet of financial records, and you take your customers’ money without ensuring that the record is safe and accurate, you should not be in that business, period!
“Not possible to avoid” is my opinion based on many years of doing similar things. “Was it so hard to research the space for such lessons and learn from them”- yes it’s extremely difficult.
Not in my experience, but that’s just me. Risk assessment is important part of any serious business, and better if done by the competent third party
Also, so we don’t go on a long rant here. I have no horse in this race, but maybe a few friends who has their funds locked up with no maybe 0 hope of recovery.
No worries on a long rant. I’m tired already lol. Also don’t have a horse in the race— just have respected what they’ve done from the outside. I hope the best for all their users and they, as a company, can learn and continue to provide a great service
Good talk! Thanks for having a meaningful conversation with me! 🫂🫡