Custodial or not #[0] proved they are on the ball and first in recognizing Nostr for their users.
No one walks around the city with 5000$ in their wallets. Think of your LN wallet as your zap pocket money.
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Discussion
both WoS n getably n lnbits !!! >>> Nostr TOPs
Wait, I'm not supposed to walk around with $5k in my pocket? 😬
💯
Correct. But WoS knows where your 5 cents are flowing to. This is the ugly thing. That they have funds in custody is just the bad thing.
Zaps are harmless and i dedicate WoS to Nostr. Hopefully where my 5 cents are flowing to will be known to the World. This is a different approach/Opsec concern than your main stack.
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✅
❓ How would you withdraw from WoS if you're getting net positive Zaps and want to move to non custodial?
I'm not yet concerned about net positive zaps. This is way too early to think profits, but looking at the future, i was always of the opinion that privacy issues for Bitcoin will be tackled and continuously improve over time.
As long as you do not move coins from or to your cold storage for a decade. We often predict the future based on the current state of things, which is wrong imo
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Have fun with that rabbit hole of complication.
LN non custodial requires a whole bunch of steps, theory and understanding.
I'm at that level already. Not too much of a hassle for me anymore, except for the hot wallet risk.
But yes, getting off ground can be troublesome.
I recommend Blixt wallet for starters which do not eant to route or just play around with a few channels on an android with routing.
Then move to raspiblitz until you are ready for some beefy hardware with self install - probably guided by raspibolt the first time.
And have an eye on the sphinx.chat dedicated aigning device. Promises segregation of logic and signing qith possibility for rules (just sign net zero or net positive events aka routing) and don't sign withdrawals automatically.
Fugazi.
Bad analogy. Holding cash on your person requires someone to physically take it.
WoS could go poof overnight and rug everyone. Into a digital void.
Bitcoin is about self sovereignty and building an alternative to custodial third parties.
I'm moving off WoS tomorrow with a bit more research to other LN options.
I get it. It's just that if this happens WoS will just go out of business and i would have lost 200$, no big deal. Bitcoin companies will come and go, on a Bitcoin standard, reputation is everything.
As early adopters, accept the fact that you'll leave money on the table at some point.
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WoS is basically PayPal/Revolut, no need to shill it.
It would be really helpful if wallets like #[1] would have in-app reminders when users reach a certain balance threshold to encourage them to withdraw at least half of their sats on-chain.