Discussion
What is being implied here?
WoS never provides you with keys to "your Bitcoin" on their platform.
You can never know for sure how much of the real Bitcoin you sent to them was rehypothecated.
It's like you trying to validate how much gold I have in my safe. I could say I have $100B and issue receipts for people to trade around the "ownership" of it. If your inflows can cover your outflows, you've got yourself a scheme.
I guess what's being implied here is be careful of the risk you take when you do not have true ownership over your keys.
I was pretty sure that was what you were implying. Lightning is still very "new". There isn't any cold storage options for the private keys either. People should not be holding life savings on lightning. However, onboarding new users to use lightning for coffee and small purchase is much more successful with a straight forward wallet like WoS. Until we have cold storage for lightning, there will be flaws with all methods of holding lightning.
Agree.
But there are also trade offs. Willing to take them on L2s. WoS seems to fit my needs for ⚡️
Self custody only for L1/cold storage
Their fee is pretty atrocious tbh
I mean yeah... true, but for small payments, convenient enough. I wouldn't store a lot of sats though.