Given the situation in Ukraine, if you're using the default (custodial) channel that comes with @SimpleBtcWallet you may be at risk losing your funds

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Given the situation in Ukraine, if you're using the default (custodial) channel that comes with @SimpleBtcWallet you may be at risk losing your funds | @zerofeerouting twitter.com/zerofeerouting/status/1496832836355215362

25 sats \ 8 comments \ @cointastical 24 Feb 2022 bitcoin

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26 sats \ 2 replies \ @DarthCoin 24 Feb 2022

Calm down guys, nothing will happen. Yes, use another channels with another node or even your own node. SBW still keep being a good LN wallet.

1 sat \ 1 reply \ @k00b 24 Feb 2022

The SBW guys themselves said users should be concerned.

15 sats \ 0 replies \ @fiatjaf 24 Feb 2022

Only for the default hosted channel because it is hosted by an Ukrainian guy in his basement. All the rest is still working.

34 sats \ 3 replies \ @zuspotirko 24 Feb 2022

Custodial is a disease of the crypto world. Not your keys = not your coins.

I understand why authorities around the world are unfortunately hardening the border between traditional finance and bitcoin.

It is a disgrace that this disease is slowly creeping into mining (*cough * nicehash), bitcoint atms needing phone numbers/ids and even hot wallets on peoples personal phones. I already see a dystopian future where self mining via tor is the last resort to get coins.

58 sats \ 2 replies \ @fiatjaf 24 Feb 2022

You're a bit crazy. Without custodianship Bitcoin will never scale.

5 sats \ 0 replies \ @DarthCoin 24 Feb 2022

A bit? He have no idea about what he's talking...

5 sats \ 0 replies \ @bartajopsi 25 Feb 2022 freebie

It's not about "without custodianship". It is about "not without custodianship". The existence of KYC is fine - the idea that one day no "no KYC" options are left is sickening.

And it's not crazy at all. If there is no wallet without KYC left (remember that wallets are essentially just basic mathematics + internet, why the does that need kyc) I could just go right back to Paypal and invest in other hard assets as real estate or stocks.

Nobody asks me for my id or phone number when I buy a croissant at the bakery with bills and coins. So sad to see that even in a bitcoin website people don't see that an online equivalent is necessary.

0 sats \ 0 replies \ @cointastical OP 24 Feb 2022

Twitter thread, unrolled:

Thread by @zerofeerouting on Thread Reader App https://threadreaderapp.com/thread/1496832836355215362.html