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260 sats \ 6 replies \ @Scoresby OP 24 Oct \ parent \ on: Spark And Ark: A Look At Our Newest Bitcoin Layer Twos - Sethforprivacy bitcoin
@justin_shocknet has been using the term "trustodial" to describe things like Ark and Spark, which isn't a bad description. It's kinda like they don't have custody of your coins if you stay online or if the person who sent you the coins isn't colluding with them.
Seems like there's no free lunch in the world of trust-minimization.
Ahah... Google
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That's a ref to Shinobi's article after he tried to do damage control after I coined it...
Origin: #1019448
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trustodial is a bang up word. makes me smile every time I see it in the wild.
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Me too hahaha
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Thanks for your work
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Yea trust-minimization is a weasel word, anyone using that in a presentation is automatically scamming... things are either trusted or they're not.
Trustodial is how they think they're going to loophole the regulator, the problem with that is that they're scamming the unsophisticated user (and probably investors) in the process.
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