Ok, referring to its custody model, what words would you use to describe Coinos? And what words would you use to describe Alby hub?
I would describe Coinos as non-custodial which means they hold the sats for me. I would describe Alby hub as self-custodial which means I hold my own sats.
I don't want self-custody because I don't want to mess around with opening and balancing channels etc. Ok? I want a non-custodial wallet like Coinos for my small balance spending sats because I don't want to deal with setting up and balancing channels etc. Make sense?
Non-custodial = no third-party ~custodian~ holding your sats.
I use Alby Hub. They are non-custodial. I hod my own sats.
Yeah, so we use the term non-custodial differently. I've always heard these terms referred to the way I'm using them, not the way you're using them. Of course that doesn't mean I'm right LOL. But it does underscore the nascent nature of this space, which is annoying AF.
I've always heard non-custodial used to refer to a wallet where _I_ don't custody my own Bitcoin. And self-custody means that _I_ custody my own Bitcoin my_self.
Custodial = someone is managing it for you.
Non-custodial is the same concept as self-custody: you manage your wallet yourself.
Right. A "custodian" is someone responsible for the safekeeping and/or management of property or information _on behalf of another_. Properly speaking we do not "custody" our own property--we just...have it ourselves.
Here's more: https://bitcoinmagazine.com/glossary/non-custodial-wallet
👍 makes sense, thx
👍 thx
