I really think you should read Reuben’s gist again.
While the asp behaves well you just come online to refresh unpublished transactions (just like lightning). Whenever you want (with or without the asp’s cooperation) you can leave ark and get a normal onchain utxo.
If you’re not going to be able to come online for some time you can withdraw onchain then go back in whenever you want.
I understand, there are tradeoffs. Lightning is better for some things and ark is better for others.
the requirement is that the user be online every 4 weeks not that the asp is also online
There is no exit scam, if the asp doesn’t cooperate users can withdraw unilaterally
Yes. Also similar to lightning in that it requires that the asp have liquidity. But once it does, it can support a ton of private transactions between ark users with a relatively tiny onchain footprint and interop with lightning in the same way as fedimint.
Oh, yes I was assuming the user would be able to do this. But yeah, in that way it’s similar to lightning. But still very much non-custodial
tldr: the ASP can’t steal, in the worst case, the miners can make a lot in fees
Read Reuben’s write up: https://gist.github.com/RubenSomsen/a394beb1dea9e47e981216768e007454
If some people trust the ASP, they can compete to charge a nominal fee to swap vtxos that will take a long time to withdraw for unencumbered onchain utxos
Isn’t it obvious? the federation is custodial. They can just immediately steal your Bitcoin. The Ark service provider can’t (though withdrawing may be complicated lol)
If you’re lucky enough to live through a disaster scenario Ark >> Fedi (at least as far as withdrawing is concerned).
Better than Fedi: “In a disaster scenario you never withdraw”
Oh I see, very cool. congrats
this guy builds and it is impressive even if you don't like what he is doing
https://github.com/ordinals/ord/pull/2167#issuecomment-1586342841
unpopular opinion, but true
oh, lol, my bad. you included that part. but kinda strange since I asked you how it was already controlled and you just talked about stuff that *could* be made illegal 🤔
is it already, or *could* it be?
You said “it’s already controlled” all anyone needs to do to see you’re lying is scroll up dawg
