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@SwapMarket
stacking since: #513690
0 sats \ 0 replies \ @SwapMarket 22h \ on: Cashu vs custodial Lightning bitcoin
With a custodial lightning wallet you choose who to trust. When you receive a cashu as payment you are forced to trust the sender's mint. If you have internet access, you should immediately move it (via lightning) to the mint you trust. If you don't or can't, you invite rugging. That's why I will never accept cashu payments offline...
I liked this part:
Further, policies like tariffs, as seen under the current administration, can stifle growth by forcing resources into lower-margin activities — like asking a brain surgeon to do some gardening two days a week to avoid being “ripped off” by professional gardeners. This shift from higher added value to lower added value depresses GDP
Well, Boltz backend is not exactly easy to configure. They don't give clear instructions for obvious reasons, but this regtest manual is a good start. I think someone tried to make sense of it and gave up.
Also, one must be a systems engineer to run all the parts reliably. If the backend loses the database in the middle of a swap, funds can be lost forever (rescue file is of no use without a way to construct the refund transaction, and front-end alone is unable to do it). So one must run postgress with real time replication to a remote location.
But, how many alternative backends do you need? Two is not enough?
Lightning Node
Elements Core
PeerSwap
Now you have three types (layers) of Bitcoin and can swap among them to keep your Lightning channels balanced. You can find other nodes running peerswap here.
Did you check this before trusting them with your money?
I did. The supposed connection between chess and writing made no fucking sense to me. I am ok at chess, but I don't make a living as a writer, so what can I know, right?
Why do you care about demand for block space? Bitcoin works great as money on L2. I want L1 as compact as possible on my SSD. But miners will centralize more without fee income? Stratum v2 is to fix that.
After all, what prevents a GOVERNMENT from attacking Bitcoin by spending a relatively modest amount of money, taking Bitcoin and "dividing it up" into millions of UTXOs for which only THEY have the keys? Even more agree with you here.
What will this accomplish other that bloating the UTXO set?
Whas this written by AI? What did the second half of your text have to do with the first and the title?
It is only a matter of time when any non-KYC card stops working due to regulatory crackdown. Been there with Kazepay's HK Visa. Fortunately, the balance was refunded after two months. Plan accordingly and never keep large balances.
On the other hand, "soft-KYC" Kazepay physical card still works great, with 2% top-up fee. Issuance costed $50 + $40 for UPS postage. "Soft KYC" means they did not verify my address (delivery country was different). Here is an invite link if you want to try.
Oh, I am sure you will find plenty of supporters who dream to live off other people's wealth. The problem is, once you abolish private property protection by law, it always turns into a bloody mess. Greed guarantees the race to the bottom where no one wants to produce anything. Just plunder the neighbor instead.