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How custodial is this? Can you rug her?

This would be custodial for anyone I set up a wallet for. I absolutely could rug my daughter.

The idea here is to keep custody close to home, where you personally know the person who could rug you, and have more social consequences if they do.

More than that, being an Uncle Jim allows you to personally teach those you are hosting wallets for, so they can one day "graduate" to a self-custody solution. I would not recommend someone who is already well versed in self-custody lightning to find a friend running Alby Hub who can host a wallet for him.

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Discussion

Adam Cowperthwait 1y ago

So it’s the fedimint / ecash model on Lightning?

Dikaios1517 1y ago

Not using ecash. In my opinion, single custodian ecash has all of the downsides of custodial lightning paired with some downsides of self-custody on-chain. Federated ecash is a better model for that.

This is straight up Wallet of Satoshi style custodial lightning. 100% IOU. The difference is, YOU are the custodian for your family.